GDP volume per capita (based on PPP's) in Iceland was 17% above the EU28 average in 2013 (final figures). Iceland had the 11th highest GDP per capita of the 37 participating European countries (EU28, Iceland, Norway, Switzerland, Turkey, Montenegro, Serbia, Bosnia-Herzegovina, Albania and Former Yugoslavian Republic of Macedonia).
GDP volume per capita was highest in Luxembourg, 161% above the EU28 average, followed by Norway where GDP was 84% above the EU28 average. It should be kept in mind that a large number of foreign residents are employed in Luxembourg and thus contribute to its GDP, while at the same time they are not included in the resident population.
Preliminary estimates for 2015 indicate that the GDP per capita in Iceland was 23% above the EU28 average and Iceland ranked in 10th place. According to same data the GDP volume per capita was highest in Luxembourg, 164% above the EU28 average, followed by Ireland where GDP volume per capita was 77% above the EU28 average.
Actual Individual Consumption per capita in Iceland was 12% above the EU28 average according to final figures for 2013. Iceland was ranked in 13th place of the 37 countries with Luxembourg leading the rank 45% above EU28. According to preliminary estimates for the year 2015 the volume of Actual Individual Consumption in Iceland was 13% higher than the EU28 average with Iceland ranking in the 10th place of the 37 countries.
Statistics Iceland participates in cooperation with Eurostat and OECD in the production of Purchasing Power Parities (PPP) in order to evaluate GDP volume indices on a regular basis in the participating countries.