Final consumption expenditure in Iceland
Iceland: Final consumption expenditure was 2.80 trillion constant LCU in 2025. ▲ Rising
Final consumption expenditure in Iceland, 1970–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
Iceland recorded 2.80 trillion constant LCU for final consumption expenditure in 2025. That is the highest value across all 56 years on record.
The figure is up 3.3% on the previous year and up 37.5% over ten years.
Over the whole period, final consumption expenditure in Iceland peaked at 2.80 trillion constant LCU in 2025 and was at its lowest, 473.24 billion constant LCU, in 1970.
Iceland ranks 60th of 177 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 56 years of available data.
Final consumption expenditure in Iceland, year by year
| Year | constant LCU | Change |
|---|---|---|
| 1970 | 473.24 billion constant LCU | — |
| 1971 | 545.47 billion constant LCU | +15.3% |
| 1972 | 592.42 billion constant LCU | +8.6% |
| 1973 | 627.66 billion constant LCU | +5.9% |
| 1974 | 689.80 billion constant LCU | +9.9% |
| 1975 | 649.31 billion constant LCU | -5.9% |
| 1976 | 683.92 billion constant LCU | +5.3% |
| 1977 | 755.42 billion constant LCU | +10.5% |
| 1978 | 820.18 billion constant LCU | +8.6% |
| 1979 | 847.89 billion constant LCU | +3.4% |
| 1980 | 874.27 billion constant LCU | +3.1% |
| 1981 | 931.03 billion constant LCU | +6.5% |
| 1982 | 979.41 billion constant LCU | +5.2% |
| 1983 | 949.47 billion constant LCU | -3.1% |
| 1984 | 976.65 billion constant LCU | +2.9% |
| 1985 | 1.02 trillion constant LCU | +4.8% |
| 1986 | 1.10 trillion constant LCU | +7.0% |
| 1987 | 1.24 trillion constant LCU | +13.6% |
| 1988 | 1.22 trillion constant LCU | -1.7% |
| 1989 | 1.20 trillion constant LCU | -2.2% |
| 1990 | 1.25 trillion constant LCU | +4.3% |
| 1991 | 1.28 trillion constant LCU | +2.7% |
| 1992 | 1.24 trillion constant LCU | -2.9% |
| 1993 | 1.20 trillion constant LCU | -3.2% |
| 1994 | 1.24 trillion constant LCU | +2.8% |
| 1995 | 1.26 trillion constant LCU | +1.7% |
| 1996 | 1.31 trillion constant LCU | +3.9% |
| 1997 | 1.35 trillion constant LCU | +3.2% |
| 1998 | 1.48 trillion constant LCU | +9.4% |
| 1999 | 1.57 trillion constant LCU | +6.4% |
| 2000 | 1.64 trillion constant LCU | +4.2% |
| 2001 | 1.63 trillion constant LCU | -0.7% |
| 2002 | 1.65 trillion constant LCU | +1.1% |
| 2003 | 1.72 trillion constant LCU | +4.6% |
| 2004 | 1.82 trillion constant LCU | +5.6% |
| 2005 | 1.99 trillion constant LCU | +9.5% |
| 2006 | 2.07 trillion constant LCU | +4.0% |
| 2007 | 2.19 trillion constant LCU | +5.9% |
| 2008 | 2.12 trillion constant LCU | -3.2% |
| 2009 | 1.92 trillion constant LCU | -9.4% |
| 2010 | 1.90 trillion constant LCU | -1.1% |
| 2011 | 1.93 trillion constant LCU | +1.4% |
| 2012 | 1.94 trillion constant LCU | +0.7% |
| 2013 | 1.96 trillion constant LCU | +0.8% |
| 2014 | 1.99 trillion constant LCU | +1.7% |
| 2015 | 2.04 trillion constant LCU | +2.2% |
| 2016 | 2.12 trillion constant LCU | +3.9% |
| 2017 | 2.24 trillion constant LCU | +5.7% |
| 2018 | 2.32 trillion constant LCU | +3.9% |
| 2019 | 2.37 trillion constant LCU | +1.8% |
| 2020 | 2.37 trillion constant LCU | -0.0% |
| 2021 | 2.51 trillion constant LCU | +6.1% |
| 2022 | 2.65 trillion constant LCU | +5.6% |
| 2023 | 2.68 trillion constant LCU | +1.1% |
| 2024 | 2.71 trillion constant LCU | +1.2% |
| 2025 | 2.80 trillion constant LCU | +3.3% |
Iceland compared with similar countries
- Iceland's 2.80 trillion constant LCU is above the median for high income countries, which is 277.24 billion constant LCU, 10.1× the median. (61 countries reporting)
- Iceland's 2.80 trillion constant LCU is above the median for Europe & Central Asia, which is 433.16 billion constant LCU, 6.5× the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 668.53 billion constant LCU | 473.24 billion constant LCU | 847.89 billion constant LCU | 10 |
| 1980s | 1.05 trillion constant LCU | 874.27 billion constant LCU | 1.24 trillion constant LCU | 10 |
| 1990s | 1.32 trillion constant LCU | 1.20 trillion constant LCU | 1.57 trillion constant LCU | 10 |
| 2000s | 1.88 trillion constant LCU | 1.63 trillion constant LCU | 2.19 trillion constant LCU | 10 |
| 2010s | 2.08 trillion constant LCU | 1.90 trillion constant LCU | 2.37 trillion constant LCU | 10 |
| 2020s | 2.62 trillion constant LCU | 2.37 trillion constant LCU | 2.80 trillion constant LCU | 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is final consumption expenditure in Iceland?
- Final consumption expenditure in Iceland was 2.80 trillion constant LCU in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest final consumption expenditure recorded in Iceland?
- The highest recorded value was 2.80 trillion constant LCU in 2025.
- What is the lowest final consumption expenditure recorded in Iceland?
- The lowest recorded value was 473.24 billion constant LCU in 1970.
- How does Iceland rank for final consumption expenditure?
- Iceland ranks 60th out of 177 countries with data for 2025.
- Is final consumption expenditure rising or falling in Iceland?
- Over the last ten years it is up 37.5%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Final consumption expenditure (constant LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 56 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Final consumption expenditure is expenditure on goods and services by resident institutional units for the direct satisfaction of human needs or wants, whether individual or collective. Final consumption expenditure can be measured for households, general government, the central bank and non-profit institutions serving households. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.