Economic Outlook No 117 — Government final consumption expenditure in Iceland
Iceland: Economic Outlook No 117 — Government final consumption expenditure was 1.76 in 2026. ◆ Volatile
Economic Outlook No 117 — Government final consumption expenditure in Iceland, 1961–2026
Source: Organisation for Economic Co-operation and Development.
Analysis
The most recent figure for economic outlook no 117 — government final consumption expenditure in Iceland is 1.76, measured in 2026.
That represents a change of up 8.2% on the previous year and up 102.5% over ten years.
Over the whole period, economic outlook no 117 — government final consumption expenditure in Iceland peaked at 14.51 in 1972 and was at its lowest, -3.43, in 2010.
That places Iceland 10th out of 38 countries with data for 2026, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Economic Outlook No 117 — Government final consumption expenditure in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1961 | 2.12 | — |
| 1962 | 6.52 | +208.1% |
| 1963 | 6.59 | +1.2% |
| 1964 | 9.5 | +44.0% |
| 1965 | 6.77 | -28.7% |
| 1966 | 7.77 | +14.8% |
| 1967 | 7.95 | +2.3% |
| 1968 | 5.57 | -29.9% |
| 1969 | 3.19 | -42.8% |
| 1970 | 8.82 | +176.6% |
| 1971 | 7.61 | -13.7% |
| 1972 | 14.51 | +90.8% |
| 1973 | 8.5 | -41.5% |
| 1974 | 8.48 | -0.2% |
| 1975 | 9.33 | +10.1% |
| 1976 | 5.02 | -46.2% |
| 1977 | 2.16 | -57.0% |
| 1978 | 7.11 | +229.3% |
| 1979 | 5.48 | -22.9% |
| 1980 | 2.11 | -61.5% |
| 1981 | 7.49 | +255.0% |
| 1982 | 5.94 | -20.7% |
| 1983 | 4.68 | -21.1% |
| 1984 | 0.583 | -87.6% |
| 1985 | 6.49 | +1013.5% |
| 1986 | 7.25 | +11.7% |
| 1987 | 6.54 | -9.8% |
| 1988 | 4.66 | -28.8% |
| 1989 | 3.01 | -35.3% |
| 1990 | 4.35 | +44.4% |
| 1991 | 3.15 | -27.5% |
| 1992 | -0.6352 | -120.1% |
| 1993 | 2.45 | -486.0% |
| 1994 | 4.05 | +65.0% |
| 1995 | 1.66 | -59.0% |
| 1996 | 0.9629 | -42.0% |
| 1997 | 2.52 | +161.6% |
| 1998 | 4.94 | +96.1% |
| 1999 | 5.06 | +2.4% |
| 2000 | 5.47 | +8.2% |
| 2001 | 5.35 | -2.2% |
| 2002 | 5.2 | -2.8% |
| 2003 | 1.94 | -62.7% |
| 2004 | 2.37 | +21.8% |
| 2005 | 4.92 | +107.9% |
| 2006 | 5.13 | +4.4% |
| 2007 | 3.95 | -23.0% |
| 2008 | 5.39 | +36.3% |
| 2009 | -3.04 | -156.4% |
| 2010 | -3.43 | +12.8% |
| 2011 | -0.1188 | -96.5% |
| 2012 | -1.61 | +1256.1% |
| 2013 | 0.8908 | -155.3% |
| 2014 | -0.2546 | -128.6% |
| 2015 | -0.0843 | -66.9% |
| 2016 | 0.87 | -1131.5% |
| 2017 | 2.92 | +235.9% |
| 2018 | 4.75 | +62.5% |
| 2019 | 3.9 | -17.9% |
| 2020 | 5.19 | +33.1% |
| 2021 | 2.3 | -55.7% |
| 2022 | 2.34 | +1.8% |
| 2023 | 1.84 | -21.4% |
| 2024 | 2.48 | +34.5% |
| 2025 | 1.63 | -34.3% |
| 2026 | 1.76 | +8.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 6.22 | 2.12 | 9.5 | 9 |
| 1970s | 7.7 | 2.16 | 14.51 | 10 |
| 1980s | 4.88 | 0.583 | 7.49 | 10 |
| 1990s | 2.85 | -0.6352 | 5.06 | 10 |
| 2000s | 3.67 | -3.04 | 5.47 | 10 |
| 2010s | 0.7836 | -3.43 | 4.75 | 10 |
| 2020s | 2.51 | 1.63 | 5.19 | 7 |
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 capital formation (constant 2015 US$), annual growth rate 5.88 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.1585 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 15,584 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 12.67 % change on previous year (2025)
- Imports of goods and services (current US$), per unit of GDP 0.4237 current US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per capita 41,663 current US$ per person (2025)
- Imports of goods and services (current LCU), annual growth rate 4.9 % change on previous year (2025)
- Imports of goods and services (current LCU), per unit of GDP 54.43 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is economic outlook no 117 — government final consumption expenditure in Iceland?
- Economic outlook no 117 — government final consumption expenditure in Iceland was 1.76 in 2026, according to Organisation for Economic Co-operation and Development.
- What is the highest economic outlook no 117 — government final consumption expenditure recorded in Iceland?
- The highest recorded value was 14.51 in 1972.
- What is the lowest economic outlook no 117 — government final consumption expenditure recorded in Iceland?
- The lowest recorded value was -3.43 in 2010.
- How does Iceland rank for economic outlook no 117 — government final consumption expenditure?
- Iceland ranks 10th out of 38 countries with data for 2026.
- Is economic outlook no 117 — government final consumption expenditure rising or falling in Iceland?
- Over the last ten years it is up 102.5%. 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 117 — Government final consumption expenditure, volume, growth. Statizoid updates them automatically from the source API.
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About this data
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 (2025), OECD Economic Outlook No 117 (Edition 2025/1) EO117 Database documentation EO117 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