GDP volume per capita (based on PPP's) in Iceland was 21% above the EU28 average in 2014. Iceland had the 10th 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, 163% above the EU28 average, followed by Norway where GDP was 79% 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.

Actual Individual Consumption per capita in Iceland was 18% above the EU28 average according to final figures for 2011. Iceland was the 6th of the 37 countries with Luxembourg leading the rank.

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.
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