Gross national expenditure in Iceland
Iceland: Gross national expenditure was 3.76 trillion constant LCU in 2025. ▲ Rising
Gross national expenditure in Iceland, 1970–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
The most recent figure for gross national expenditure in Iceland is 3.76 trillion constant LCU, measured in 2025. That is the highest value across all 56 years on record.
That represents a change of up 3.9% on the previous year and up 46.3% over ten years.
Over the whole period, gross national expenditure in Iceland peaked at 3.76 trillion constant LCU in 2025 and was at its lowest, 610.08 billion constant LCU, in 1970.
That places Iceland 59th out of 168 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 in Iceland, year by year
| Year | constant LCU | Change |
|---|---|---|
| 1970 | 610.08 billion constant LCU | — |
| 1971 | 778.99 billion constant LCU | +27.7% |
| 1972 | 771.29 billion constant LCU | -1.0% |
| 1973 | 865.21 billion constant LCU | +12.2% |
| 1974 | 982.65 billion constant LCU | +13.6% |
| 1975 | 926.81 billion constant LCU | -5.7% |
| 1976 | 901.13 billion constant LCU | -2.8% |
| 1977 | 1.03 trillion constant LCU | +14.8% |
| 1978 | 1.06 trillion constant LCU | +2.7% |
| 1979 | 1.10 trillion constant LCU | +3.4% |
| 1980 | 1.16 trillion constant LCU | +5.7% |
| 1981 | 1.24 trillion constant LCU | +6.5% |
| 1982 | 1.32 trillion constant LCU | +6.6% |
| 1983 | 1.15 trillion constant LCU | -12.4% |
| 1984 | 1.26 trillion constant LCU | +9.3% |
| 1985 | 1.27 trillion constant LCU | +1.1% |
| 1986 | 1.32 trillion constant LCU | +3.7% |
| 1987 | 1.54 trillion constant LCU | +16.6% |
| 1988 | 1.56 trillion constant LCU | +0.9% |
| 1989 | 1.47 trillion constant LCU | -5.2% |
| 1990 | 1.52 trillion constant LCU | +3.4% |
| 1991 | 1.59 trillion constant LCU | +4.5% |
| 1992 | 1.51 trillion constant LCU | -4.9% |
| 1993 | 1.47 trillion constant LCU | -3.1% |
| 1994 | 1.48 trillion constant LCU | +1.0% |
| 1995 | 1.52 trillion constant LCU | +2.6% |
| 1996 | 1.62 trillion constant LCU | +6.3% |
| 1997 | 1.70 trillion constant LCU | +4.8% |
| 1998 | 1.93 trillion constant LCU | +13.9% |
| 1999 | 2.01 trillion constant LCU | +4.0% |
| 2000 | 2.13 trillion constant LCU | +6.1% |
| 2001 | 2.09 trillion constant LCU | -2.0% |
| 2002 | 2.05 trillion constant LCU | -1.7% |
| 2003 | 2.17 trillion constant LCU | +5.5% |
| 2004 | 2.38 trillion constant LCU | +9.8% |
| 2005 | 2.72 trillion constant LCU | +14.4% |
| 2006 | 3.00 trillion constant LCU | +10.1% |
| 2007 | 3.01 trillion constant LCU | +0.5% |
| 2008 | 2.80 trillion constant LCU | -7.2% |
| 2009 | 2.26 trillion constant LCU | -19.2% |
| 2010 | 2.22 trillion constant LCU | -1.7% |
| 2011 | 2.28 trillion constant LCU | +2.9% |
| 2012 | 2.32 trillion constant LCU | +1.5% |
| 2013 | 2.32 trillion constant LCU | +0.3% |
| 2014 | 2.43 trillion constant LCU | +4.7% |
| 2015 | 2.57 trillion constant LCU | +5.6% |
| 2016 | 2.75 trillion constant LCU | +6.9% |
| 2017 | 2.93 trillion constant LCU | +6.7% |
| 2018 | 3.05 trillion constant LCU | +4.1% |
| 2019 | 3.03 trillion constant LCU | -0.8% |
| 2020 | 3.00 trillion constant LCU | -1.1% |
| 2021 | 3.23 trillion constant LCU | +7.9% |
| 2022 | 3.48 trillion constant LCU | +7.8% |
| 2023 | 3.56 trillion constant LCU | +2.3% |
| 2024 | 3.62 trillion constant LCU | +1.5% |
| 2025 | 3.76 trillion constant LCU | +3.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 903.01 billion constant LCU | 610.08 billion constant LCU | 1.10 trillion constant LCU | 10 |
| 1980s | 1.33 trillion constant LCU | 1.15 trillion constant LCU | 1.56 trillion constant LCU | 10 |
| 1990s | 1.64 trillion constant LCU | 1.47 trillion constant LCU | 2.01 trillion constant LCU | 10 |
| 2000s | 2.46 trillion constant LCU | 2.05 trillion constant LCU | 3.01 trillion constant LCU | 10 |
| 2010s | 2.59 trillion constant LCU | 2.22 trillion constant LCU | 3.05 trillion constant LCU | 10 |
| 2020s | 3.44 trillion constant LCU | 3.00 trillion constant LCU | 3.76 trillion constant LCU | 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)
- Gross domestic savings (current US$), annual growth rate 13.17 % change on previous year (2025)
- Gross domestic savings (current US$), per unit of GDP 0.2431 current US$ per US$ of GDP (2025)
- Gross domestic savings (current US$), per capita 23,906 current US$ per person (2025)
- Gross domestic savings (current LCU), annual growth rate 5.36 % change on previous year (2025)
- Gross domestic savings (current LCU), per unit of GDP 31.23 current LCU per US$ of GDP (2025)
- Gross domestic savings (current LCU), per capita 3.07 million current LCU per person (2025)
- GNI, Atlas method (current US$), annual growth rate 11.95 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9074 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is gross national expenditure in Iceland?
- Gross national expenditure in Iceland was 3.76 trillion constant LCU 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 3.76 trillion constant LCU in 2025.
- What is the lowest gross national expenditure recorded in Iceland?
- The lowest recorded value was 610.08 billion constant LCU in 1970.
- How does Iceland rank for gross national expenditure?
- Iceland ranks 59th out of 168 countries with data for 2025.
- Is gross national expenditure rising or falling in Iceland?
- Over the last ten years it is up 46.3%. 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 LCU). 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 varies by country. This series is expressed in local currency units.