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Reykjavík

The economy of Iceland is a highly developed mixed market economy. In 2011, the gross domestic product (GDP) was US$12 billion. By 2018, it had increased to a nominal GDP of US$27 billion, and by 2025, it reached US$35 billion. As of 2025, it has the fifth highest nominal GDP per capita ($91,000) and fourteenth highest GDP per capita by PPP ($81,000). In 2025 Iceland topped the Human Development Index.

Iceland has a mixed economy with high levels of free trade and government intervention. However, government consumption is lower compared to other Nordic countries. 100% of Iceland's electrical grid is produced from renewable sources. Geothermal and Hydropower are the primary sources of energy in Iceland. (Full article...)

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