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Iceland - Gross domestic product based on purchasing-power-parity in current prices

18.18 (billion international dollars) in 2017

In 2017, GDP based on PPP for Iceland was 18.18 billion international dollars. GDP based on PPP of Iceland increased from 6.99 billion international dollars in 1998 to 18.18 billion international dollars in 2017 growing at an average annual rate of 5.24 %.

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What is GDP based on PPP?

GDP (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or "numeraire" currency.

What is Iceland GDP based on PPP?

Date Value Change, %
2017 18.18 5.96 %
2016 17.16 8.53 %
2015 15.81 5.58 %
2014 14.97 4.02 %
2013 14.40 5.96 %
2012 13.59 3.24 %
2011 13.16 4.01 %
2010 12.65 -2.31 %
2009 12.95 -6.06 %
2008 13.79 3.97 %
2007 13.26 12.31 %
2006 11.81