Final consumption expenditure in Iceland
Iceland: Final consumption expenditure was 29.20 billion current US$ in 2025. ◆ Volatile
Final consumption expenditure in Iceland, 1970–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current US$.
Analysis
In 2025, final consumption expenditure in Iceland stood at 29.20 billion current US$. That is the highest value across all 56 years on record.
The figure is up 17.3% on the previous year and up 125.9% over ten years.
Over the whole period, final consumption expenditure in Iceland peaked at 29.20 billion current US$ in 2025 and was at its lowest, 392.45 million current US$, in 1970.
That places Iceland 107th out of 188 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Final consumption expenditure in Iceland, year by year
| Year | current US$ | Change |
|---|---|---|
| 1970 | 392.45 million current US$ | — |
| 1971 | 500.06 million current US$ | +27.4% |
| 1972 | 628.95 million current US$ | +25.8% |
| 1973 | 822.14 million current US$ | +30.7% |
| 1974 | 1.14 billion current US$ | +38.7% |
| 1975 | 1.05 billion current US$ | -7.8% |
| 1976 | 1.21 billion current US$ | +15.0% |
| 1977 | 1.60 billion current US$ | +32.2% |
| 1978 | 1.85 billion current US$ | +15.9% |
| 1979 | 2.15 billion current US$ | +16.1% |
| 1980 | 2.52 billion current US$ | +17.3% |
| 1981 | 2.67 billion current US$ | +5.8% |
| 1982 | 2.51 billion current US$ | -5.7% |
| 1983 | 2.17 billion current US$ | -13.6% |
| 1984 | 2.25 billion current US$ | +3.6% |
| 1985 | 2.41 billion current US$ | +7.1% |
| 1986 | 3.17 billion current US$ | +31.4% |
| 1987 | 4.53 billion current US$ | +43.0% |
| 1988 | 5.00 billion current US$ | +10.2% |
| 1989 | 4.58 billion current US$ | -8.4% |
| 1990 | 5.27 billion current US$ | +15.2% |
| 1991 | 5.74 billion current US$ | +8.8% |
| 1992 | 5.94 billion current US$ | +3.5% |
| 1993 | 5.08 billion current US$ | -14.4% |
| 1994 | 5.15 billion current US$ | +1.4% |
| 1995 | 5.83 billion current US$ | +13.2% |
| 1996 | 6.11 billion current US$ | +4.8% |
| 1997 | 6.03 billion current US$ | -1.2% |
| 1998 | 6.81 billion current US$ | +12.8% |
| 1999 | 7.40 billion current US$ | +8.6% |
| 2000 | 7.51 billion current US$ | +1.5% |
| 2001 | 6.51 billion current US$ | -13.4% |
| 2002 | 7.43 billion current US$ | +14.2% |
| 2003 | 9.46 billion current US$ | +27.3% |
| 2004 | 11.31 billion current US$ | +19.5% |
| 2005 | 14.13 billion current US$ | +25.0% |
| 2006 | 14.24 billion current US$ | +0.8% |
| 2007 | 17.40 billion current US$ | +22.2% |
| 2008 | 13.90 billion current US$ | -20.1% |
| 2009 | 10.20 billion current US$ | -26.6% |
| 2010 | 10.63 billion current US$ | +4.2% |
| 2011 | 11.84 billion current US$ | +11.4% |
| 2012 | 11.68 billion current US$ | -1.3% |
| 2013 | 12.51 billion current US$ | +7.1% |
| 2014 | 13.79 billion current US$ | +10.2% |
| 2015 | 12.93 billion current US$ | -6.3% |
| 2016 | 15.17 billion current US$ | +17.4% |
| 2017 | 18.40 billion current US$ | +21.3% |
| 2018 | 19.69 billion current US$ | +7.0% |
| 2019 | 18.53 billion current US$ | -5.9% |
| 2020 | 17.48 billion current US$ | -5.7% |
| 2021 | 20.64 billion current US$ | +18.1% |
| 2022 | 21.98 billion current US$ | +6.5% |
| 2023 | 23.42 billion current US$ | +6.6% |
| 2024 | 24.90 billion current US$ | +6.3% |
| 2025 | 29.20 billion current US$ | +17.3% |
Iceland compared with similar countries
- Iceland's 29.20 billion current US$ is below the median for high income countries, which is 123.73 billion current US$, 24% of the median. (67 countries reporting)
- Iceland's 29.20 billion current US$ is below the median for Europe & Central Asia, which is 110.72 billion current US$, 26% of the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.13 billion current US$ | 392.45 million current US$ | 2.15 billion current US$ | 10 |
| 1980s | 3.18 billion current US$ | 2.17 billion current US$ | 5.00 billion current US$ | 10 |
| 1990s | 5.94 billion current US$ | 5.08 billion current US$ | 7.40 billion current US$ | 10 |
| 2000s | 11.21 billion current US$ | 6.51 billion current US$ | 17.40 billion current US$ | 10 |
| 2010s | 14.52 billion current US$ | 10.63 billion current US$ | 19.69 billion current US$ | 10 |
| 2020s | 22.94 billion current US$ | 17.48 billion current US$ | 29.20 billion current US$ | 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$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is final consumption expenditure in Iceland?
- Final consumption expenditure in Iceland was 29.20 billion current US$ in 2025, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest final consumption expenditure recorded in Iceland?
- The highest recorded value was 29.20 billion current US$ in 2025.
- What is the lowest final consumption expenditure recorded in Iceland?
- The lowest recorded value was 392.45 million current US$ in 1970.
- How does Iceland rank for final consumption expenditure?
- Iceland ranks 107th out of 188 countries with data for 2025.
- Is final consumption expenditure rising or falling in Iceland?
- Over the last ten years it is up 125.9%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Final consumption expenditure (current US$). Statizoid updates them automatically from the source API.
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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 current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.