Gross national expenditure (constant 2015 US$) in Iceland
Iceland: Gross national expenditure (constant 2015 US$) was 23.89 billion constant 2015 US$ in 2025. ▲ Rising
Latest (2025)
23.89 billion constant 2015 US$
Change on year
up 3.9%
World rank
103rd
of 163 countries
All-time high
23.89 billion constant 2015 US$
in 2025
All-time low
3.88 billion constant 2015 US$
in 1970
Years of data
56
1970–2025
Gross national expenditure in Iceland, 1970–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant 2015 US$.
Analysis
In 2025, gross national expenditure in Iceland stood at 23.89 billion constant 2015 US$. That is the highest value across all 56 years on record.
The figure is up 3.9% on the previous year and up 46.4% over ten years.
Over the whole period, gross national expenditure in Iceland peaked at 23.89 billion constant 2015 US$ in 2025 and was at its lowest, 3.88 billion constant 2015 US$, in 1970.
That places Iceland 103rd out of 163 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 56 years of available data.
Gross national expenditure (constant 2015 US$) in Iceland, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1970 | 3.88 billion constant 2015 US$ | — |
| 1971 | 4.95 billion constant 2015 US$ | +27.8% |
| 1972 | 4.90 billion constant 2015 US$ | -1.0% |
| 1973 | 5.50 billion constant 2015 US$ | +12.2% |
| 1974 | 6.25 billion constant 2015 US$ | +13.6% |
| 1975 | 5.89 billion constant 2015 US$ | -5.7% |
| 1976 | 5.73 billion constant 2015 US$ | -2.8% |
| 1977 | 6.57 billion constant 2015 US$ | +14.8% |
| 1978 | 6.75 billion constant 2015 US$ | +2.7% |
| 1979 | 6.98 billion constant 2015 US$ | +3.4% |
| 1980 | 7.37 billion constant 2015 US$ | +5.7% |
| 1981 | 7.85 billion constant 2015 US$ | +6.5% |
| 1982 | 8.37 billion constant 2015 US$ | +6.6% |
| 1983 | 7.33 billion constant 2015 US$ | -12.5% |
| 1984 | 8.01 billion constant 2015 US$ | +9.3% |
| 1985 | 8.10 billion constant 2015 US$ | +1.1% |
| 1986 | 8.40 billion constant 2015 US$ | +3.7% |
| 1987 | 9.79 billion constant 2015 US$ | +16.7% |
| 1988 | 9.89 billion constant 2015 US$ | +0.9% |
| 1989 | 9.37 billion constant 2015 US$ | -5.2% |
| 1990 | 9.69 billion constant 2015 US$ | +3.4% |
| 1991 | 10.13 billion constant 2015 US$ | +4.5% |
| 1992 | 9.62 billion constant 2015 US$ | -4.9% |
| 1993 | 9.33 billion constant 2015 US$ | -3.1% |
| 1994 | 9.42 billion constant 2015 US$ | +1.0% |
| 1995 | 9.67 billion constant 2015 US$ | +2.6% |
| 1996 | 10.28 billion constant 2015 US$ | +6.3% |
| 1997 | 10.78 billion constant 2015 US$ | +4.8% |
| 1998 | 12.27 billion constant 2015 US$ | +13.9% |
| 1999 | 12.77 billion constant 2015 US$ | +4.0% |
| 2000 | 13.55 billion constant 2015 US$ | +6.2% |
| 2001 | 13.28 billion constant 2015 US$ | -2.0% |
| 2002 | 13.05 billion constant 2015 US$ | -1.7% |
| 2003 | 13.77 billion constant 2015 US$ | +5.5% |
| 2004 | 15.12 billion constant 2015 US$ | +9.8% |
| 2005 | 17.31 billion constant 2015 US$ | +14.4% |
| 2006 | 19.06 billion constant 2015 US$ | +10.1% |
| 2007 | 19.15 billion constant 2015 US$ | +0.5% |
| 2008 | 17.77 billion constant 2015 US$ | -7.2% |
| 2009 | 14.35 billion constant 2015 US$ | -19.3% |
| 2010 | 14.10 billion constant 2015 US$ | -1.7% |
| 2011 | 14.50 billion constant 2015 US$ | +2.9% |
| 2012 | 14.73 billion constant 2015 US$ | +1.5% |
| 2013 | 14.76 billion constant 2015 US$ | +0.3% |
| 2014 | 15.46 billion constant 2015 US$ | +4.7% |
| 2015 | 16.32 billion constant 2015 US$ | +5.6% |
| 2016 | 17.45 billion constant 2015 US$ | +6.9% |
| 2017 | 18.62 billion constant 2015 US$ | +6.7% |
| 2018 | 19.39 billion constant 2015 US$ | +4.1% |
| 2019 | 19.24 billion constant 2015 US$ | -0.8% |
| 2020 | 19.03 billion constant 2015 US$ | -1.1% |
| 2021 | 20.54 billion constant 2015 US$ | +7.9% |
| 2022 | 22.14 billion constant 2015 US$ | +7.8% |
| 2023 | 22.65 billion constant 2015 US$ | +2.3% |
| 2024 | 22.99 billion constant 2015 US$ | +1.5% |
| 2025 | 23.89 billion constant 2015 US$ | +3.9% |
Iceland compared with similar countries
- Iceland's 23.89 billion constant 2015 US$ is below the median for high income countries, which is 222.30 billion constant 2015 US$, 11% of the median. (58 countries reporting)
- Iceland's 23.89 billion constant 2015 US$ is below the median for Europe & Central Asia, which is 101.50 billion constant 2015 US$, 24% of the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.74 billion constant 2015 US$ | 3.88 billion constant 2015 US$ | 6.98 billion constant 2015 US$ | 10 |
| 1980s | 8.45 billion constant 2015 US$ | 7.33 billion constant 2015 US$ | 9.89 billion constant 2015 US$ | 10 |
| 1990s | 10.40 billion constant 2015 US$ | 9.33 billion constant 2015 US$ | 12.77 billion constant 2015 US$ | 10 |
| 2000s | 15.64 billion constant 2015 US$ | 13.05 billion constant 2015 US$ | 19.15 billion constant 2015 US$ | 10 |
| 2010s | 16.46 billion constant 2015 US$ | 14.10 billion constant 2015 US$ | 19.39 billion constant 2015 US$ | 10 |
| 2020s | 21.88 billion constant 2015 US$ | 19.03 billion constant 2015 US$ | 23.89 billion constant 2015 US$ | 6 |
Countries ranked near Iceland
- 100 Mali 26.76 billion constant 2015 US$ compare
- 101 Mozambique 25.48 billion constant 2015 US$ compare
- 102 Macao 25.12 billion constant 2015 US$ compare
- 104 Mongolia 23.31 billion constant 2015 US$ compare
- 105 Zimbabwe 22.86 billion constant 2015 US$ compare
- 106 Burkina Faso 21.46 billion constant 2015 US$ 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)
- 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 gross national expenditure in Iceland?
- Gross national expenditure in Iceland was 23.89 billion constant 2015 US$ in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross national expenditure recorded in Iceland?
- The highest recorded value was 23.89 billion constant 2015 US$ in 2025.
- What is the lowest gross national expenditure recorded in Iceland?
- The lowest recorded value was 3.88 billion constant 2015 US$ in 1970.
- How does Iceland rank for gross national expenditure?
- Iceland ranks 103rd out of 163 countries with data for 2025.
- Is gross national expenditure rising or falling in Iceland?
- Over the last ten years it is up 46.4%. 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 Gross national expenditure (constant 2015 US$). Statizoid updates them automatically from the source API.
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About this data
Gross national expenditure is the sum of household final consumption expenditure, general government final consumption expenditure, and gross capital formation. 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 is 2015. This indicator is expressed in United States dollars.