Government spending by function as share of gdp across countries in Iceland
Iceland: Government spending by function as share of gdp across countries was 10.72 in 2023. ▲ Rising
Government spending by function as share of gdp across countries in Iceland, 2007–2023
Source: Our World in Data.
Analysis
The most recent figure for government spending by function as share of gdp across countries in Iceland is 10.72, measured in 2023.
Compared with earlier readings it is up 0.3% on the previous year and up 10.0% over ten years.
Over the whole period, government spending by function as share of gdp across countries in Iceland peaked at 13.67 in 2020 and was at its lowest, 7.94, in 2007.
Iceland ranks 31st of 37 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 17 years of available data.
Government spending by function as share of gdp across countries in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2007 | 7.94 | — |
| 2008 | 8.74 | +10.1% |
| 2009 | 10.66 | +22.0% |
| 2010 | 10.24 | -4.0% |
| 2011 | 10.67 | +4.2% |
| 2012 | 10.15 | -4.8% |
| 2013 | 9.75 | -3.9% |
| 2014 | 9.69 | -0.7% |
| 2015 | 9.01 | -7.0% |
| 2016 | 12.97 | +43.9% |
| 2017 | 9.55 | -26.3% |
| 2018 | 9.68 | +1.4% |
| 2019 | 10.53 | +8.8% |
| 2020 | 13.67 | +29.8% |
| 2021 | 12.93 | -5.4% |
| 2022 | 10.69 | -17.3% |
| 2023 | 10.72 | +0.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 9.11 | 7.94 | 10.66 | 3 |
| 2010s | 10.22 | 9.01 | 12.97 | 10 |
| 2020s | 12 | 10.69 | 13.67 | 4 |
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 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)
- Gross value added at basic prices (GVA) (constant 2015 US$), per 52,920 constant 2015 US$ per person (2025)
- Gross value added at basic prices (GVA) (constant LCU), annual growth 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant LCU), per unit of 83.85 constant LCU per US$ of GDP (2025)
Frequently asked questions
- What is government spending by function as share of gdp across countries in Iceland?
- Government spending by function as share of gdp across countries in Iceland was 10.72 in 2023, according to Our World in Data.
- What is the highest government spending by function as share of gdp across countries recorded in Iceland?
- The highest recorded value was 13.67 in 2020.
- What is the lowest government spending by function as share of gdp across countries recorded in Iceland?
- The lowest recorded value was 7.94 in 2007.
- How does Iceland rank for government spending by function as share of gdp across countries?
- Iceland ranks 31st out of 37 countries with data for 2023.
- Is government spending by function as share of gdp across countries rising or falling in Iceland?
- Over the last ten years it is up 10.0%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Our World in Data, published as part of Government spending by function as share of gdp across countries. Statizoid updates them automatically from the source API.
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