Government spending vs. GDP, per capita in Iceland
Iceland: Government spending vs. GDP, per capita was 13,945 constant 2015 US$ per person in 2025. ▲ Rising
Latest (2025)
13,945 constant 2015 US$ per person
Change on year
down 0.3%
World rank
5th
of 166 countries
All-time high
14,407 constant 2015 US$ per person
in 2008
All-time low
4,157 constant 2015 US$ per person
in 1970
Years of data
56
1970–2025
Government spending vs. GDP, per capita in Iceland, 1970–2025
Source: Statizoid (derived). Measured in constant 2015 US$ per person.
Analysis
The most recent figure for government spending vs. gdp, per capita in Iceland is 13,945 constant 2015 US$ per person, measured in 2025.
Compared with earlier readings it is down 0.3% on the previous year and up 9.2% over ten years.
Over the whole period, government spending vs. gdp, per capita in Iceland peaked at 14,407 constant 2015 US$ per person in 2008 and was at its lowest, 4,157 constant 2015 US$ per person, in 1970.
Iceland ranks 5th of 166 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 56 years of available data.
Government spending vs. GDP, per capita in Iceland, year by year
| Year | constant 2015 US$ per person | Change |
|---|---|---|
| 1970 | 4,157 constant 2015 US$ per person | — |
| 1971 | 4,437 constant 2015 US$ per person | +6.7% |
| 1972 | 5,007 constant 2015 US$ per person | +12.8% |
| 1973 | 5,351 constant 2015 US$ per person | +6.9% |
| 1974 | 5,727 constant 2015 US$ per person | +7.0% |
| 1975 | 6,182 constant 2015 US$ per person | +7.9% |
| 1976 | 6,428 constant 2015 US$ per person | +4.0% |
| 1977 | 6,518 constant 2015 US$ per person | +1.4% |
| 1978 | 6,928 constant 2015 US$ per person | +6.3% |
| 1979 | 7,236 constant 2015 US$ per person | +4.5% |
| 1980 | 7,311 constant 2015 US$ per person | +1.0% |
| 1981 | 7,769 constant 2015 US$ per person | +6.3% |
| 1982 | 8,121 constant 2015 US$ per person | +4.5% |
| 1983 | 8,390 constant 2015 US$ per person | +3.3% |
| 1984 | 8,349 constant 2015 US$ per person | -0.5% |
| 1985 | 8,822 constant 2015 US$ per person | +5.7% |
| 1986 | 9,392 constant 2015 US$ per person | +6.5% |
| 1987 | 9,897 constant 2015 US$ per person | +5.4% |
| 1988 | 10,198 constant 2015 US$ per person | +3.0% |
| 1989 | 10,376 constant 2015 US$ per person | +1.7% |
| 1990 | 10,743 constant 2015 US$ per person | +3.5% |
| 1991 | 10,954 constant 2015 US$ per person | +2.0% |
| 1992 | 10,749 constant 2015 US$ per person | -1.9% |
| 1993 | 10,901 constant 2015 US$ per person | +1.4% |
| 1994 | 11,244 constant 2015 US$ per person | +3.1% |
| 1995 | 11,369 constant 2015 US$ per person | +1.1% |
| 1996 | 11,441 constant 2015 US$ per person | +0.6% |
| 1997 | 10,910 constant 2015 US$ per person | -4.6% |
| 1998 | 11,171 constant 2015 US$ per person | +2.4% |
| 1999 | 11,507 constant 2015 US$ per person | +3.0% |
| 2000 | 11,909 constant 2015 US$ per person | +3.5% |
| 2001 | 12,289 constant 2015 US$ per person | +3.2% |
| 2002 | 12,829 constant 2015 US$ per person | +4.4% |
| 2003 | 12,951 constant 2015 US$ per person | +1.0% |
| 2004 | 13,112 constant 2015 US$ per person | +1.2% |
| 2005 | 13,518 constant 2015 US$ per person | +3.1% |
| 2006 | 13,806 constant 2015 US$ per person | +2.1% |
| 2007 | 14,010 constant 2015 US$ per person | +1.5% |
| 2008 | 14,407 constant 2015 US$ per person | +2.8% |
| 2009 | 13,900 constant 2015 US$ per person | -3.5% |
| 2010 | 13,510 constant 2015 US$ per person | -2.8% |
| 2011 | 13,443 constant 2015 US$ per person | -0.5% |
| 2012 | 13,124 constant 2015 US$ per person | -2.4% |
| 2013 | 13,068 constant 2015 US$ per person | -0.4% |
| 2014 | 12,902 constant 2015 US$ per person | -1.3% |
| 2015 | 12,767 constant 2015 US$ per person | -1.0% |
| 2016 | 12,721 constant 2015 US$ per person | -0.4% |
| 2017 | 12,769 constant 2015 US$ per person | +0.4% |
| 2018 | 12,961 constant 2015 US$ per person | +1.5% |
| 2019 | 13,161 constant 2015 US$ per person | +1.5% |
| 2020 | 13,578 constant 2015 US$ per person | +3.2% |
| 2021 | 13,684 constant 2015 US$ per person | +0.8% |
| 2022 | 13,575 constant 2015 US$ per person | -0.8% |
| 2023 | 13,774 constant 2015 US$ per person | +1.5% |
| 2024 | 13,985 constant 2015 US$ per person | +1.5% |
| 2025 | 13,945 constant 2015 US$ per person | -0.3% |
Iceland compared with similar countries
- Iceland's 13,945 constant 2015 US$ per person is above the median for high income countries, which is 6,505 constant 2015 US$ per person, 2.1× the median. (60 countries reporting)
- Iceland's 13,945 constant 2015 US$ per person is above the median for Europe & Central Asia, which is 3,819 constant 2015 US$ per person, 3.7× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5,797 constant 2015 US$ per person | 4,157 constant 2015 US$ per person | 7,236 constant 2015 US$ per person | 10 |
| 1980s | 8,862 constant 2015 US$ per person | 7,311 constant 2015 US$ per person | 10,376 constant 2015 US$ per person | 10 |
| 1990s | 11,099 constant 2015 US$ per person | 10,743 constant 2015 US$ per person | 11,507 constant 2015 US$ per person | 10 |
| 2000s | 13,273 constant 2015 US$ per person | 11,909 constant 2015 US$ per person | 14,407 constant 2015 US$ per person | 10 |
| 2010s | 13,043 constant 2015 US$ per person | 12,721 constant 2015 US$ per person | 13,510 constant 2015 US$ per person | 10 |
| 2020s | 13,757 constant 2015 US$ per person | 13,575 constant 2015 US$ per person | 13,985 constant 2015 US$ per person | 6 |
Countries ranked near Iceland
- 2 Luxembourg 20,590 constant 2015 US$ per person compare
- 3 Norway 19,662 constant 2015 US$ per person compare
- 4 Australia 15,167 constant 2015 US$ per person compare
- 6 Denmark 13,611 constant 2015 US$ per person compare
- 7 Sweden 13,546 constant 2015 US$ per person compare
- 8 Netherlands 13,377 constant 2015 US$ per person compare
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$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is government spending vs. gdp, per capita in Iceland?
- Government spending vs. gdp, per capita in Iceland was 13,945 constant 2015 US$ per person in 2025, according to Statizoid (derived).
- What is the highest government spending vs. gdp, per capita recorded in Iceland?
- The highest recorded value was 14,407 constant 2015 US$ per person in 2008.
- What is the lowest government spending vs. gdp, per capita recorded in Iceland?
- The lowest recorded value was 4,157 constant 2015 US$ per person in 1970.
- How does Iceland rank for government spending vs. gdp, per capita?
- Iceland ranks 5th out of 166 countries with data for 2025.
- Is government spending vs. gdp, per capita rising or falling in Iceland?
- Over the last ten years it is up 9.2%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Statizoid (derived), published as part of Government spending vs. GDP, per capita. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 56 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
Government spending vs. GDP divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Government spending vs. GDP ÷ Population, total
Computed from
- Government spending vs. GDP National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data
- Population, total World Population Prospects, United Nations (UN)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Government spending vs. GDP divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.