General government final consumption expenditure (current US$) in Iceland
Iceland: General government final consumption expenditure (current US$) was 10.06 billion current US$ in 2025. ◆ Volatile
General government final consumption expenditure in Iceland, 1970–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current US$.
Analysis
Iceland recorded 10.06 billion current US$ for general government final consumption expenditure in 2025. That is the highest value across all 56 years on record.
The figure is up 16.9% on the previous year and up 138.1% over ten years.
Over the whole period, general government final consumption expenditure in Iceland peaked at 10.06 billion current US$ in 2025 and was at its lowest, 81.37 million current US$, in 1970.
That places Iceland 85th out of 187 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
General government final consumption expenditure (current US$) in Iceland, year by year
| Year | current US$ | Change |
|---|---|---|
| 1970 | 81.37 million current US$ | — |
| 1971 | 107.01 million current US$ | +31.5% |
| 1972 | 148.69 million current US$ | +38.9% |
| 1973 | 197.92 million current US$ | +33.1% |
| 1974 | 288.89 million current US$ | +46.0% |
| 1975 | 274.50 million current US$ | -5.0% |
| 1976 | 310.44 million current US$ | +13.1% |
| 1977 | 413.67 million current US$ | +33.3% |
| 1978 | 498.84 million current US$ | +20.6% |
| 1979 | 585.10 million current US$ | +17.3% |
| 1980 | 668.56 million current US$ | +14.3% |
| 1981 | 703.01 million current US$ | +5.2% |
| 1982 | 678.74 million current US$ | -3.5% |
| 1983 | 587.98 million current US$ | -13.4% |
| 1984 | 559.48 million current US$ | -4.8% |
| 1985 | 614.28 million current US$ | +9.8% |
| 1986 | 840.84 million current US$ | +36.9% |
| 1987 | 1.22 billion current US$ | +44.6% |
| 1988 | 1.42 billion current US$ | +16.8% |
| 1989 | 1.28 billion current US$ | -10.1% |
| 1990 | 1.45 billion current US$ | +13.2% |
| 1991 | 1.59 billion current US$ | +10.3% |
| 1992 | 1.68 billion current US$ | +5.6% |
| 1993 | 1.51 billion current US$ | -10.1% |
| 1994 | 1.55 billion current US$ | +2.2% |
| 1995 | 1.76 billion current US$ | +14.0% |
| 1996 | 1.83 billion current US$ | +3.9% |
| 1997 | 1.72 billion current US$ | -6.1% |
| 1998 | 1.94 billion current US$ | +12.8% |
| 1999 | 2.11 billion current US$ | +8.6% |
| 2000 | 2.16 billion current US$ | +2.6% |
| 2001 | 1.98 billion current US$ | -8.6% |
| 2002 | 2.39 billion current US$ | +20.9% |
| 2003 | 3.01 billion current US$ | +26.0% |
| 2004 | 3.50 billion current US$ | +16.1% |
| 2005 | 4.29 billion current US$ | +22.5% |
| 2006 | 4.39 billion current US$ | +2.4% |
| 2007 | 5.34 billion current US$ | +21.7% |
| 2008 | 4.52 billion current US$ | -15.3% |
| 2009 | 3.43 billion current US$ | -24.2% |
| 2010 | 3.54 billion current US$ | +3.1% |
| 2011 | 3.92 billion current US$ | +10.8% |
| 2012 | 3.77 billion current US$ | -3.8% |
| 2013 | 4.04 billion current US$ | +7.1% |
| 2014 | 4.44 billion current US$ | +9.8% |
| 2015 | 4.22 billion current US$ | -4.8% |
| 2016 | 4.93 billion current US$ | +16.7% |
| 2017 | 6.01 billion current US$ | +21.9% |
| 2018 | 6.48 billion current US$ | +7.8% |
| 2019 | 6.20 billion current US$ | -4.3% |
| 2020 | 6.19 billion current US$ | -0.1% |
| 2021 | 7.20 billion current US$ | +16.3% |
| 2022 | 7.45 billion current US$ | +3.5% |
| 2023 | 7.99 billion current US$ | +7.1% |
| 2024 | 8.60 billion current US$ | +7.7% |
| 2025 | 10.06 billion current US$ | +16.9% |
Iceland compared with similar countries
- Iceland's 10.06 billion current US$ is below the median for high income countries, which is 41.50 billion current US$, 24% of the median. (67 countries reporting)
- Iceland's 10.06 billion current US$ is below the median for Europe & Central Asia, which is 26.37 billion current US$, 38% of the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 290.64 million current US$ | 81.37 million current US$ | 585.10 million current US$ | 10 |
| 1980s | 856.48 million current US$ | 559.48 million current US$ | 1.42 billion current US$ | 10 |
| 1990s | 1.71 billion current US$ | 1.45 billion current US$ | 2.11 billion current US$ | 10 |
| 2000s | 3.50 billion current US$ | 1.98 billion current US$ | 5.34 billion current US$ | 10 |
| 2010s | 4.75 billion current US$ | 3.54 billion current US$ | 6.48 billion current US$ | 10 |
| 2020s | 7.92 billion current US$ | 6.19 billion current US$ | 10.06 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)
- SDRs holdings, US dollar, annual growth rate 5.55 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0153 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 1,500 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.5124 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0111 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 1,095 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0089 units per US$ of GDP (2025)
Frequently asked questions
- What is general government final consumption expenditure in Iceland?
- General government final consumption expenditure in Iceland was 10.06 billion current US$ in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest general government final consumption expenditure recorded in Iceland?
- The highest recorded value was 10.06 billion current US$ in 2025.
- What is the lowest general government final consumption expenditure recorded in Iceland?
- The lowest recorded value was 81.37 million current US$ in 1970.
- How does Iceland rank for general government final consumption expenditure?
- Iceland ranks 85th out of 187 countries with data for 2025.
- Is general government final consumption expenditure rising or falling in Iceland?
- Over the last ten years it is up 138.1%. 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 Organizations and/or Central Banks, published as part of General government final consumption expenditure (current US$). 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. General government FCE includes all government current expenditures for purchases of goods and services (including compensation of employees), and most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation. 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.