Economic Outlook No 115 — Private final consumption expenditure in Iceland
Iceland: Economic Outlook No 115 — Private final consumption expenditure was 1.65 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
Iceland recorded 1.65 trillion for economic outlook no 115 — private final consumption expenditure in 2025. That is the highest value across all 66 years on record.
Compared with earlier readings it is up 2.7% on the previous year and up 43.5% over ten years.
Over the whole period, economic outlook no 115 — private final consumption expenditure in Iceland peaked at 1.65 trillion in 2025 and was at its lowest, 167.45 billion, in 1961.
That places Iceland 16th out of 38 countries with data for 2025, putting it 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 | 167.87 billion | — |
| 1961 | 167.45 billion | -0.3% |
| 1962 | 185.75 billion | +10.9% |
| 1963 | 206.78 billion | +11.3% |
| 1964 | 225.36 billion | +9.0% |
| 1965 | 242.62 billion | +7.7% |
| 1966 | 274.89 billion | +13.3% |
| 1967 | 279.06 billion | +1.5% |
| 1968 | 264.11 billion | -5.4% |
| 1969 | 250.63 billion | -5.1% |
| 1970 | 290.79 billion | +16.0% |
| 1971 | 340.68 billion | +17.2% |
| 1972 | 365.44 billion | +7.3% |
| 1973 | 384.92 billion | +5.3% |
| 1974 | 424.40 billion | +10.3% |
| 1975 | 383.63 billion | -9.6% |
| 1976 | 404.43 billion | +5.4% |
| 1977 | 456.65 billion | +12.9% |
| 1978 | 497.58 billion | +9.0% |
| 1979 | 511.63 billion | +2.8% |
| 1980 | 528.94 billion | +3.4% |
| 1981 | 561.57 billion | +6.2% |
| 1982 | 589.38 billion | +5.0% |
| 1983 | 556.20 billion | -5.6% |
| 1984 | 576.80 billion | +3.7% |
| 1985 | 601.15 billion | +4.2% |
| 1986 | 642.71 billion | +6.9% |
| 1987 | 746.63 billion | +16.2% |
| 1988 | 718.24 billion | -3.8% |
| 1989 | 688.30 billion | -4.2% |
| 1990 | 662.61 billion | -3.7% |
| 1991 | 682.54 billion | +3.0% |
| 1992 | 660.45 billion | -3.2% |
| 1993 | 629.80 billion | -4.6% |
| 1994 | 647.90 billion | +2.9% |
| 1995 | 661.91 billion | +2.2% |
| 1996 | 695.21 billion | +5.0% |
| 1997 | 738.93 billion | +6.3% |
| 1998 | 825.99 billion | +11.8% |
| 1999 | 886.12 billion | +7.3% |
| 2000 | 921.11 billion | +3.9% |
| 2001 | 895.42 billion | -2.8% |
| 2002 | 888.93 billion | -0.7% |
| 2003 | 941.72 billion | +5.9% |
| 2004 | 1.01 trillion | +7.1% |
| 2005 | 1.13 trillion | +11.7% |
| 2006 | 1.17 trillion | +3.9% |
| 2007 | 1.25 trillion | +6.6% |
| 2008 | 1.16 trillion | -6.7% |
| 2009 | 1.02 trillion | -12.5% |
| 2010 | 1.02 trillion | -0.3% |
| 2011 | 1.04 trillion | +2.1% |
| 2012 | 1.06 trillion | +1.8% |
| 2013 | 1.07 trillion | +1.1% |
| 2014 | 1.10 trillion | +2.9% |
| 2015 | 1.15 trillion | +4.5% |
| 2016 | 1.23 trillion | +6.7% |
| 2017 | 1.32 trillion | +8.0% |
| 2018 | 1.39 trillion | +4.8% |
| 2019 | 1.41 trillion | +1.7% |
| 2020 | 1.37 trillion | -3.1% |
| 2021 | 1.46 trillion | +6.9% |
| 2022 | 1.58 trillion | +8.3% |
| 2023 | 1.59 trillion | +0.5% |
| 2024 | 1.61 trillion | +0.9% |
| 2025 | 1.65 trillion | +2.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 226.45 billion | 167.45 billion | 279.06 billion | 10 |
| 1970s | 406.01 billion | 290.79 billion | 511.63 billion | 10 |
| 1980s | 620.99 billion | 528.94 billion | 746.63 billion | 10 |
| 1990s | 709.15 billion | 629.80 billion | 886.12 billion | 10 |
| 2000s | 1.04 trillion | 888.93 billion | 1.25 trillion | 10 |
| 2010s | 1.18 trillion | 1.02 trillion | 1.41 trillion | 10 |
| 2020s | 1.54 trillion | 1.37 trillion | 1.65 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)
- Gross value added at basic prices (GVA) (current US$), annual growth 17.56 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8994 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 88,429 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 9.45 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 115.52 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 11.36 million current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5382 constant 2015 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 1.65 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 1.65 trillion in 2025.
- What is the lowest economic outlook no 115 — private final consumption expenditure recorded in Iceland?
- The lowest recorded value was 167.45 billion in 1961.
- How does Iceland rank for economic outlook no 115 — private final consumption expenditure?
- Iceland ranks 16th out of 38 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 43.5%. 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, volume. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 66 observations, free to reuse under OECD Terms and Conditions (attribution required).
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