Economic Outlook No 115 — Private final consumption expenditure in Iceland
Iceland: Economic Outlook No 115 — Private final consumption expenditure was 2.43 trillion in 2025. ◆ Volatile
Economic Outlook No 115 — Private final consumption expenditure in Iceland, 1960–2025
Source: Organisation for Economic Co-operation and Development.
Analysis
In 2025, economic outlook no 115 — private final consumption expenditure in Iceland stood at 2.43 trillion. That is the highest value across all 66 years on record.
The figure is up 6.2% on the previous year and up 111.4% over ten years.
Over the whole period, economic outlook no 115 — private final consumption expenditure in Iceland peaked at 2.43 trillion in 2025 and was at its lowest, 56.94 million, in 1960.
Iceland ranks 15th of 37 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Economic Outlook No 115 — Private final consumption expenditure in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1960 | 56.94 million | — |
| 1961 | 62.49 million | +9.7% |
| 1962 | 75.56 million | +20.9% |
| 1963 | 91.18 million | +20.7% |
| 1964 | 113.63 million | +24.6% |
| 1965 | 132.23 million | +16.4% |
| 1966 | 164.75 million | +24.6% |
| 1967 | 174.09 million | +5.7% |
| 1968 | 187.04 million | +7.4% |
| 1969 | 215.80 million | +15.4% |
| 1970 | 278.12 million | +28.9% |
| 1971 | 351.84 million | +26.5% |
| 1972 | 433.02 million | +23.1% |
| 1973 | 575.24 million | +32.8% |
| 1974 | 872.69 million | +51.7% |
| 1975 | 1.23 billion | +40.5% |
| 1976 | 1.68 billion | +36.9% |
| 1977 | 2.42 billion | +44.0% |
| 1978 | 3.78 billion | +56.1% |
| 1979 | 5.68 billion | +50.4% |
| 1980 | 9.14 billion | +60.8% |
| 1981 | 14.58 billion | +59.6% |
| 1982 | 23.31 billion | +59.9% |
| 1983 | 40.47 billion | +73.6% |
| 1984 | 54.95 billion | +35.8% |
| 1985 | 76.52 billion | +39.3% |
| 1986 | 98.34 billion | +28.5% |
| 1987 | 131.93 billion | +34.2% |
| 1988 | 158.65 billion | +20.2% |
| 1989 | 193.74 billion | +22.1% |
| 1990 | 222.02 billion | +14.6% |
| 1991 | 243.44 billion | +9.6% |
| 1992 | 243.95 billion | +0.2% |
| 1993 | 241.13 billion | -1.2% |
| 1994 | 252.11 billion | +4.6% |
| 1995 | 263.20 billion | +4.4% |
| 1996 | 284.40 billion | +8.1% |
| 1997 | 305.78 billion | +7.5% |
| 1998 | 345.29 billion | +12.9% |
| 1999 | 382.39 billion | +10.7% |
| 2000 | 420.27 billion | +9.9% |
| 2001 | 441.25 billion | +5.0% |
| 2002 | 461.86 billion | +4.7% |
| 2003 | 494.55 billion | +7.1% |
| 2004 | 548.00 billion | +10.8% |
| 2005 | 619.95 billion | +13.1% |
| 2006 | 690.64 billion | +11.4% |
| 2007 | 771.30 billion | +11.7% |
| 2008 | 823.49 billion | +6.8% |
| 2009 | 834.80 billion | +1.4% |
| 2010 | 864.42 billion | +3.5% |
| 2011 | 915.31 billion | +5.9% |
| 2012 | 986.45 billion | +7.8% |
| 2013 | 1.03 trillion | +4.8% |
| 2014 | 1.09 trillion | +5.5% |
| 2015 | 1.15 trillion | +5.3% |
| 2016 | 1.24 trillion | +7.8% |
| 2017 | 1.32 trillion | +6.9% |
| 2018 | 1.43 trillion | +8.1% |
| 2019 | 1.52 trillion | +6.2% |
| 2020 | 1.52 trillion | +0.2% |
| 2021 | 1.69 trillion | +10.8% |
| 2022 | 1.95 trillion | +15.7% |
| 2023 | 2.14 trillion | +9.6% |
| 2024 | 2.29 trillion | +6.8% |
| 2025 | 2.43 trillion | +6.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 127.37 million | 56.94 million | 215.80 million | 10 |
| 1970s | 1.73 billion | 278.12 million | 5.68 billion | 10 |
| 1980s | 80.16 billion | 9.14 billion | 193.74 billion | 10 |
| 1990s | 278.37 billion | 222.02 billion | 382.39 billion | 10 |
| 2000s | 610.61 billion | 420.27 billion | 834.80 billion | 10 |
| 2010s | 1.15 trillion | 864.42 billion | 1.52 trillion | 10 |
| 2020s | 2.00 trillion | 1.52 trillion | 2.43 trillion | 6 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- Industry (including construction), value added (constant 2015 US$) -1.23 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.1135 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 11,161 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual -1.23 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 17.85 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 1.75 million constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 17.85 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.6623 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is economic outlook no 115 — private final consumption expenditure in Iceland?
- Economic outlook no 115 — private final consumption expenditure in Iceland was 2.43 trillion in 2025, according to Organisation for Economic Co-operation and Development.
- What is the highest economic outlook no 115 — private final consumption expenditure recorded in Iceland?
- The highest recorded value was 2.43 trillion in 2025.
- What is the lowest economic outlook no 115 — private final consumption expenditure recorded in Iceland?
- The lowest recorded value was 56.94 million in 1960.
- How does Iceland rank for economic outlook no 115 — private final consumption expenditure?
- Iceland ranks 15th out of 37 countries with data for 2025.
- Is economic outlook no 115 — private final consumption expenditure rising or falling in Iceland?
- Over the last ten years it is up 111.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Economic Outlook No 115 — Private final consumption expenditure, nominal value, GDP expenditure approach. Statizoid updates them automatically from the source API.
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About this data
May 2024 - The OECD Economic Outlook presents the OECD’s analysis of the major global economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, government spending, prices and current balances based on a review of each member country and of the induced effect on each of them on international developments. OECD (2024), OECD Economic Outlook No 115 (Edition 2024/1) EO115 Database documentation EO115 Last historical points gdp inflation cpi population unemployment real gdp gdp per capita employment OECD Economic Outlook website: https://www.oecd.org/economic-outlook/ Contact: eco.outlook@oecd.org Keywords: Outlook, forecasts, forecast, GDP