Complete energy balances in Iceland
Iceland: Complete energy balances was 5,584 Thousand tonnes of oil equivalent in 2024. ▲ Rising
Latest (2024)
5,584 Thousand tonnes of oil equivalent
Change on year
up 3.9%
World rank
27th
of 50 countries
All-time high
5,584 Thousand tonnes of oil equivalent
in 2024
All-time low
1,422 Thousand tonnes of oil equivalent
in 1992
Years of data
35
1990–2024
Complete energy balances in Iceland, 1990–2024
Source: Eurostat. Measured in Thousand tonnes of oil equivalent.
Analysis
Iceland recorded 5,584 Thousand tonnes of oil equivalent for complete energy balances in 2024. That is the highest value across all 35 years on record.
Compared with earlier readings it is up 3.9% on the previous year and up 6.7% over ten years.
Over the whole period, complete energy balances in Iceland peaked at 5,584 Thousand tonnes of oil equivalent in 2024 and was at its lowest, 1,422 Thousand tonnes of oil equivalent, in 1992.
Iceland ranks 27th of 50 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 35 years of available data.
Complete energy balances in Iceland, year by year
| Year | Thousand tonnes of oil equivalent | Change |
|---|---|---|
| 1990 | 1,620 Thousand tonnes of oil equivalent | — |
| 1991 | 1,499 Thousand tonnes of oil equivalent | -7.5% |
| 1992 | 1,422 Thousand tonnes of oil equivalent | -5.1% |
| 1993 | 1,522 Thousand tonnes of oil equivalent | +7.0% |
| 1994 | 1,545 Thousand tonnes of oil equivalent | +1.5% |
| 1995 | 1,562 Thousand tonnes of oil equivalent | +1.1% |
| 1996 | 1,648 Thousand tonnes of oil equivalent | +5.5% |
| 1997 | 1,635 Thousand tonnes of oil equivalent | -0.8% |
| 1998 | 1,783 Thousand tonnes of oil equivalent | +9.0% |
| 1999 | 2,103 Thousand tonnes of oil equivalent | +18.0% |
| 2000 | 2,414 Thousand tonnes of oil equivalent | +14.8% |
| 2001 | 2,327 Thousand tonnes of oil equivalent | -3.6% |
| 2002 | 2,390 Thousand tonnes of oil equivalent | +2.7% |
| 2003 | 2,396 Thousand tonnes of oil equivalent | +0.3% |
| 2004 | 2,334 Thousand tonnes of oil equivalent | -2.6% |
| 2005 | 2,384 Thousand tonnes of oil equivalent | +2.2% |
| 2006 | 3,106 Thousand tonnes of oil equivalent | +30.3% |
| 2007 | 3,853 Thousand tonnes of oil equivalent | +24.0% |
| 2008 | 4,508 Thousand tonnes of oil equivalent | +17.0% |
| 2009 | 4,731 Thousand tonnes of oil equivalent | +5.0% |
| 2010 | 4,791 Thousand tonnes of oil equivalent | +1.3% |
| 2011 | 5,199 Thousand tonnes of oil equivalent | +8.5% |
| 2012 | 5,071 Thousand tonnes of oil equivalent | -2.5% |
| 2013 | 5,282 Thousand tonnes of oil equivalent | +4.2% |
| 2014 | 5,233 Thousand tonnes of oil equivalent | -0.9% |
| 2015 | 4,928 Thousand tonnes of oil equivalent | -5.8% |
| 2016 | 4,605 Thousand tonnes of oil equivalent | -6.6% |
| 2017 | 4,920 Thousand tonnes of oil equivalent | +6.9% |
| 2018 | 5,430 Thousand tonnes of oil equivalent | +10.4% |
| 2019 | 5,327 Thousand tonnes of oil equivalent | -1.9% |
| 2020 | 5,265 Thousand tonnes of oil equivalent | -1.2% |
| 2021 | 5,193 Thousand tonnes of oil equivalent | -1.4% |
| 2022 | 5,317 Thousand tonnes of oil equivalent | +2.4% |
| 2023 | 5,375 Thousand tonnes of oil equivalent | +1.1% |
| 2024 | 5,584 Thousand tonnes of oil equivalent | +3.9% |
Iceland compared with similar countries
- Iceland's 5,584 Thousand tonnes of oil equivalent is below the median for Europe & Central Asia, which is 9,315 Thousand tonnes of oil equivalent, 60% of the median. (37 countries reporting)
- Iceland's 5,584 Thousand tonnes of oil equivalent is below the median for high income countries, which is 10,779 Thousand tonnes of oil equivalent, 52% of the median. (30 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1,634 Thousand tonnes of oil equivalent | 1,422 Thousand tonnes of oil equivalent | 2,103 Thousand tonnes of oil equivalent | 10 |
| 2000s | 3,044 Thousand tonnes of oil equivalent | 2,327 Thousand tonnes of oil equivalent | 4,731 Thousand tonnes of oil equivalent | 10 |
| 2010s | 5,079 Thousand tonnes of oil equivalent | 4,605 Thousand tonnes of oil equivalent | 5,430 Thousand tonnes of oil equivalent | 10 |
| 2020s | 5,347 Thousand tonnes of oil equivalent | 5,193 Thousand tonnes of oil equivalent | 5,584 Thousand tonnes of oil equivalent | 5 |
Countries ranked near Iceland
- 24 Portugal 7,892 Thousand tonnes of oil equivalent compare
- 25 Slovakia 6,959 Thousand tonnes of oil equivalent compare
- 25 Slovakia 6,959 Thousand tonnes of oil equivalent compare
- 28 Greece 5,102 Thousand tonnes of oil equivalent compare
- 29 Bosnia and Herzegovina 4,854 Thousand tonnes of oil equivalent compare
- 30 Estonia 4,223 Thousand tonnes of oil equivalent compare
- 30 Estonia 4,223 Thousand tonnes of oil equivalent compare
More energy & mining data for Iceland
- Fossil fuel consumption by fuel, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Primary energy use, annual growth rate -4.9 % change on previous year (2025)
- Coal consumption, per capita 0 terawatt-hours per person (2025)
- Coal consumption, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Primary energy use, per capita 0.0002 terawatt-hours per person (2025)
- Coal production, per capita 0 terawatt-hours per person (2024)
- Coal production, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Fossil fuel consumption by fuel, per capita 0 terawatt-hours per person (2024)
- Fuel imports 9.0% (2025)
Frequently asked questions
- What is complete energy balances in Iceland?
- Complete energy balances in Iceland was 5,584 Thousand tonnes of oil equivalent in 2024, according to Eurostat.
- What is the highest complete energy balances recorded in Iceland?
- The highest recorded value was 5,584 Thousand tonnes of oil equivalent in 2024.
- What is the lowest complete energy balances recorded in Iceland?
- The lowest recorded value was 1,422 Thousand tonnes of oil equivalent in 1992.
- How does Iceland rank for complete energy balances?
- Iceland ranks 27th out of 50 countries with data for 2024.
- Is complete energy balances rising or falling in Iceland?
- Over the last ten years it is up 6.7%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Eurostat, published as part of Complete energy balances. Statizoid updates them automatically from the source API.
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