From 2011 to 2022, Sweden had the highest gross domestic product (GDP) of the Nordic countries. In 2022, it was estimated to be at 591 billion U.S. dollars, and is expected to reach almost 720 billion in 2027. Norway had the second highest GDP in this time period, but it dropped significantly after the fall in the oil price in 2014. Denmark has consistently been the third largest Nordic economy in this time. Iceland has the lowest GDP in the region, with just 28 billion U.S. dollars in 2022; around 10 percent the size of Finland's.
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Gross domestic product (GDP) at current prices in the Nordic countries from 2011 to 2027, by country
(in billion U.S. dollars)
Characteristic
Denmark
Finland
Iceland
Norway
Sweden
2011
344
275.56
15.22
501.36
574.09
2012
327.15
258.45
14.75
512.78
552.48
2013
343.58
271.37
16.13
526.01
586.84
2014
352.99
274.93
17.87
501.74
581.96
2015
302.67
234.56
17.52
388.16
505.1
2016
313.12
240.71
20.79
370.96
515.66
2017
332.12
255.56
24.73
401.75
541.02
2018
356.84
275.83
26.26
439.79
555.46
2019
346.5
268.55
24.68
408.74
533.88
2020
354.76
271.67
21.57
367.63
547.05
2021
405.69
296.97
25.6
490.29
639.72
2022
401.13
283.12
28.07
579.42
591.19
2023*
420.8
305.69
30.57
546.77
597.11
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0200400600800
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IMF. (October 10, 2023). Gross domestic product (GDP) at current prices in the Nordic countries from 2011 to 2027, by country (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 26, 2025, from https://www.statista.com/statistics/1274423/gdp-current-prices-nordic-countries/
IMF. "Gross domestic product (GDP) at current prices in the Nordic countries from 2011 to 2027, by country (in billion U.S. dollars)." Chart. October 10, 2023. Statista. Accessed July 26, 2025. https://www.statista.com/statistics/1274423/gdp-current-prices-nordic-countries/
IMF. (2023). Gross domestic product (GDP) at current prices in the Nordic countries from 2011 to 2027, by country (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 26, 2025. https://www.statista.com/statistics/1274423/gdp-current-prices-nordic-countries/
IMF. "Gross Domestic Product (Gdp) at Current Prices in The Nordic Countries from 2011 to 2027, by Country (in Billion U.S. Dollars)." Statista, Statista Inc., 10 Oct 2023, https://www.statista.com/statistics/1274423/gdp-current-prices-nordic-countries/
IMF, Gross domestic product (GDP) at current prices in the Nordic countries from 2011 to 2027, by country (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1274423/gdp-current-prices-nordic-countries/ (last visited July 26, 2025)
Gross domestic product (GDP) at current prices in the Nordic countries from 2011 to 2027, by country (in billion U.S. dollars) [Graph], IMF, October 10, 2023. [Online]. Available: https://www.statista.com/statistics/1274423/gdp-current-prices-nordic-countries/
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