Gross national expenditure (current US$) in Iceland
Iceland: Gross national expenditure (current US$) was 39.45 billion current US$ in 2025. ◆ Volatile
Latest (2025)
39.45 billion current US$
Change on year
up 17.4%
World rank
101st
of 186 countries
All-time high
39.45 billion current US$
in 2025
All-time low
538.92 million current 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 current US$.
Analysis
In 2025, gross national expenditure in Iceland stood at 39.45 billion current US$. That is the highest value across all 56 years on record.
That represents a change of up 17.4% on the previous year and up 141.7% over ten years.
Over the whole period, gross national expenditure in Iceland peaked at 39.45 billion current US$ in 2025 and was at its lowest, 538.92 million current US$, in 1970.
Iceland ranks 101st of 186 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross national expenditure (current US$) in Iceland, year by year
| Year | current US$ | Change |
|---|---|---|
| 1970 | 538.92 million current US$ | — |
| 1971 | 749.32 million current US$ | +39.0% |
| 1972 | 895.09 million current US$ | +19.5% |
| 1973 | 1.24 billion current US$ | +38.3% |
| 1974 | 1.75 billion current US$ | +41.6% |
| 1975 | 1.61 billion current US$ | -8.3% |
| 1976 | 1.74 billion current US$ | +8.5% |
| 1977 | 2.34 billion current US$ | +34.0% |
| 1978 | 2.55 billion current US$ | +9.0% |
| 1979 | 2.95 billion current US$ | +15.7% |
| 1980 | 3.54 billion current US$ | +20.1% |
| 1981 | 3.71 billion current US$ | +4.8% |
| 1982 | 3.51 billion current US$ | -5.2% |
| 1983 | 2.82 billion current US$ | -19.8% |
| 1984 | 2.99 billion current US$ | +6.0% |
| 1985 | 3.10 billion current US$ | +3.7% |
| 1986 | 3.99 billion current US$ | +28.6% |
| 1987 | 5.81 billion current US$ | +45.6% |
| 1988 | 6.42 billion current US$ | +10.5% |
| 1989 | 5.77 billion current US$ | -10.1% |
| 1990 | 6.64 billion current US$ | +15.1% |
| 1991 | 7.28 billion current US$ | +9.6% |
| 1992 | 7.36 billion current US$ | +1.2% |
| 1993 | 6.25 billion current US$ | -15.1% |
| 1994 | 6.29 billion current US$ | +0.6% |
| 1995 | 7.13 billion current US$ | +13.3% |
| 1996 | 7.65 billion current US$ | +7.3% |
| 1997 | 7.68 billion current US$ | +0.4% |
| 1998 | 9.01 billion current US$ | +17.3% |
| 1999 | 9.51 billion current US$ | +5.6% |
| 2000 | 9.76 billion current US$ | +2.6% |
| 2001 | 8.39 billion current US$ | -14.0% |
| 2002 | 9.27 billion current US$ | +10.4% |
| 2003 | 11.90 billion current US$ | +28.4% |
| 2004 | 14.74 billion current US$ | +23.8% |
| 2005 | 19.12 billion current US$ | +29.7% |
| 2006 | 20.59 billion current US$ | +7.7% |
| 2007 | 23.91 billion current US$ | +16.1% |
| 2008 | 18.63 billion current US$ | -22.1% |
| 2009 | 12.15 billion current US$ | -34.7% |
| 2010 | 12.56 billion current US$ | +3.3% |
| 2011 | 14.20 billion current US$ | +13.1% |
| 2012 | 14.06 billion current US$ | -1.0% |
| 2013 | 14.95 billion current US$ | +6.4% |
| 2014 | 16.87 billion current US$ | +12.8% |
| 2015 | 16.32 billion current US$ | -3.3% |
| 2016 | 19.56 billion current US$ | +19.8% |
| 2017 | 23.81 billion current US$ | +21.7% |
| 2018 | 25.61 billion current US$ | +7.5% |
| 2019 | 23.58 billion current US$ | -7.9% |
| 2020 | 22.12 billion current US$ | -6.2% |
| 2021 | 26.63 billion current US$ | +20.4% |
| 2022 | 29.05 billion current US$ | +9.1% |
| 2023 | 31.48 billion current US$ | +8.4% |
| 2024 | 33.61 billion current US$ | +6.8% |
| 2025 | 39.45 billion current US$ | +17.4% |
Iceland compared with similar countries
- Iceland's 39.45 billion current US$ is below the median for high income countries, which is 195.11 billion current US$, 20% of the median. (66 countries reporting)
- Iceland's 39.45 billion current US$ is below the median for Europe & Central Asia, which is 143.45 billion current US$, 28% of the median. (52 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.64 billion current US$ | 538.92 million current US$ | 2.95 billion current US$ | 10 |
| 1980s | 4.17 billion current US$ | 2.82 billion current US$ | 6.42 billion current US$ | 10 |
| 1990s | 7.48 billion current US$ | 6.25 billion current US$ | 9.51 billion current US$ | 10 |
| 2000s | 14.85 billion current US$ | 8.39 billion current US$ | 23.91 billion current US$ | 10 |
| 2010s | 18.15 billion current US$ | 12.56 billion current US$ | 25.61 billion current US$ | 10 |
| 2020s | 30.39 billion current US$ | 22.12 billion current US$ | 39.45 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 gross national expenditure in Iceland?
- Gross national expenditure in Iceland was 39.45 billion current 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 39.45 billion current US$ in 2025.
- What is the lowest gross national expenditure recorded in Iceland?
- The lowest recorded value was 538.92 million current US$ in 1970.
- How does Iceland rank for gross national expenditure?
- Iceland ranks 101st out of 186 countries with data for 2025.
- Is gross national expenditure rising or falling in Iceland?
- Over the last ten years it is up 141.7%. 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 Gross national expenditure (current 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 current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.