Preliminary estimates for 2016 indicate that the GDP per capita in Iceland was 28% above the EU28 average and that Iceland ranked in 5th place of the 37 participating European* countries, was in 10th place in the previous year. According to the same data the GDP volume per capita was highest in Luxembourg, 158% above the EU28 average, followed by Ireland where it was 83% above the EU28 average. Luxembourg has a large number of people who are employed there and contribute to its GDP, but are not included in the resident population.

According to final figures for year 2014 GDP volume per capita (based on PPP) in Iceland was 19% above the EU28 average, Iceland had the 11th highest GDP per capita of the 37 participating European countries.

GDP volume per capita in 2014 was highest in Luxembourg, 170% above the EU28 average, followed by Norway which was 76% above the EU28 average.

Preliminary estimates for 2016 indicate that the volume of Actual Individual Consumption in Iceland was 14% higher than the EU28 average with Iceland ranking in the 8th place of the 37 countries.

According to final figures for year 2014 Actual Individual Consumption per capita in Iceland was 13% above the EU28 average. Iceland was ranked in 11th place of the 37 countries with Luxembourg leading, 38% above EU28.

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.

*The 37 European countries are EU28, Iceland, Norway, Switzerland, Turkey, Montenegro, Serbia, Bosnia-Herzegovina, Albania and Former Yugoslavian Republic of Macedonia.

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