Iceland vs Latvia: Government spending vs. GDP
Iceland
5.47 billion constant 2015 US$
in 2025
Latvia
6.47 billion constant 2015 US$
in 2025
Iceland rank
90th
Latvia rank
87th
Government spending vs. GDP over time
- Iceland
- Latvia
How they compare
Latvia currently reports 6.47 billion constant 2015 US$ against 5.47 billion constant 2015 US$ in Iceland, a difference of 999.81 million constant 2015 US$.
That makes Latvia's figure about 1.2 times Iceland's.
Across all 31 years both countries report, Latvia has been ahead every year.
Iceland ranks 90th and Latvia ranks 87th of 166 countries.
Latvia has averaged higher in every one of the 4 decades both report.
Head to head by decade
| Decade | Iceland | Latvia | Difference | Ahead |
|---|---|---|---|---|
| 1990s | 3.07 billion constant 2015 US$ | 3.77 billion constant 2015 US$ | 701.24 million constant 2015 US$ | Latvia |
| 2000s | 3.97 billion constant 2015 US$ | 4.63 billion constant 2015 US$ | 657.13 million constant 2015 US$ | Latvia |
| 2010s | 4.34 billion constant 2015 US$ | 4.79 billion constant 2015 US$ | 449.77 million constant 2015 US$ | Latvia |
| 2020s | 5.24 billion constant 2015 US$ | 6.02 billion constant 2015 US$ | 781.05 million constant 2015 US$ | Latvia |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher government spending vs. gdp, Iceland or Latvia?
- Latvia, at 6.47 billion constant 2015 US$ against 5.47 billion constant 2015 US$ in Iceland as of 2025.
- What is the difference in government spending vs. gdp between Iceland and Latvia?
- 999.81 million constant 2015 US$, with Latvia ahead.
- How many years of comparable data are there for Iceland and Latvia?
- 31 years are reported by both, from 1995 to 2025.
- How do Iceland and Latvia rank globally for government spending vs. gdp?
- Iceland ranks 90th and Latvia ranks 87th of 166 countries.
- Where does this data come from?
- National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as Government spending vs. GDP. Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
General government final consumption expenditure includes all government current expenditures for purchases of goods and services (including compensation of employees). Both measures are expressed in constant 2015 US$.