Historical gov spending gdp in Iceland
Iceland: Historical gov spending gdp was 46.54 in 2024. ◆ Volatile
Latest (2024)
46.54
Change on year
up 3.4%
World rank
23rd
of 151 countries
All-time high
62.78
in 2008
All-time low
5.84
in 1915
Years of data
116
1909–2024
Historical gov spending gdp in Iceland, 1909–2024
Source: Our World in Data.
Analysis
The most recent figure for historical gov spending gdp in Iceland is 46.54, measured in 2024.
The figure is up 3.4% on the previous year and up 2.6% over ten years.
Over the whole period, historical gov spending gdp in Iceland peaked at 62.78 in 2008 and was at its lowest, 5.84, in 1915.
Iceland ranks 23rd of 151 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Historical gov spending gdp in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1909 | 7.98 | — |
| 1910 | 7.37 | -7.6% |
| 1911 | 7.23 | -2.0% |
| 1912 | 7.69 | +6.4% |
| 1913 | 6.58 | -14.4% |
| 1914 | 7.38 | +12.1% |
| 1915 | 5.84 | -20.8% |
| 1916 | 6.65 | +13.8% |
| 1917 | 15.15 | +128.0% |
| 1918 | 10.79 | -28.8% |
| 1919 | 7.82 | -27.6% |
| 1920 | 13.98 | +78.8% |
| 1921 | 12 | -14.1% |
| 1922 | 11.03 | -8.1% |
| 1923 | 10.51 | -4.7% |
| 1924 | 7.85 | -25.4% |
| 1925 | 8.13 | +3.6% |
| 1926 | 10.34 | +27.2% |
| 1927 | 9.66 | -6.6% |
| 1928 | 8.87 | -8.2% |
| 1929 | 9.75 | +10.0% |
| 1930 | 13.04 | +33.7% |
| 1931 | 12.73 | -2.4% |
| 1932 | 12.32 | -3.3% |
| 1933 | 11.89 | -3.4% |
| 1934 | 13.3 | +11.9% |
| 1935 | 12.53 | -5.8% |
| 1936 | 12.33 | -1.6% |
| 1937 | 11.94 | -3.2% |
| 1938 | 11.87 | -0.5% |
| 1939 | 11.27 | -5.1% |
| 1940 | 9.19 | -18.4% |
| 1941 | 10.37 | +12.8% |
| 1942 | 11.43 | +10.2% |
| 1943 | 11.32 | -0.9% |
| 1944 | 13.74 | +21.4% |
| 1945 | 15 | +9.1% |
| 1946 | 20.2 | +34.7% |
| 1947 | 23.89 | +18.3% |
| 1948 | 22.59 | -5.5% |
| 1949 | 24.74 | +9.5% |
| 1950 | 21.19 | -14.3% |
| 1951 | 22.65 | +6.9% |
| 1952 | 22.04 | -2.7% |
| 1953 | 24.48 | +11.1% |
| 1954 | 22.5 | -8.1% |
| 1955 | 23.1 | +2.7% |
| 1956 | 26.85 | +16.2% |
| 1957 | 29.05 | +8.2% |
| 1958 | 32.62 | +12.3% |
| 1959 | 36.04 | +10.5% |
| 1960 | 33.15 | -8.0% |
| 1961 | 25.31 | -23.6% |
| 1962 | 24.9 | -1.6% |
| 1963 | 26.24 | +5.4% |
| 1964 | 28.21 | +7.5% |
| 1965 | 28.28 | +0.3% |
| 1966 | 28.31 | +0.1% |
| 1967 | 31.65 | +11.8% |
| 1968 | 33.25 | +5.1% |
| 1969 | 30.3 | -8.9% |
| 1970 | 29.85 | -1.5% |
| 1971 | 32.54 | +9.0% |
| 1972 | 33.28 | +2.3% |
| 1973 | 33.65 | +1.1% |
| 1974 | 36.64 | +8.9% |
| 1975 | 36.89 | +0.7% |
| 1976 | 32.12 | -12.9% |
| 1977 | 31.71 | -1.3% |
| 1978 | 31.93 | +0.7% |
| 1979 | 32.44 | +1.6% |
| 1980 | 33.9 | +4.5% |
| 1981 | 35.28 | +4.1% |
| 1982 | 35.98 | +2.0% |
| 1983 | 37.77 | +5.0% |
| 1984 | 34.66 | -8.2% |
| 1985 | 37 | +6.7% |
| 1986 | 39.47 | +6.7% |
| 1987 | 36.49 | -7.6% |
| 1988 | 41.42 | +13.5% |
| 1989 | 42.93 | +3.7% |
| 1990 | 42.58 | -0.8% |
| 1991 | 42.85 | +0.6% |
| 1992 | 44.68 | +4.3% |
| 1993 | 45.1 | +0.9% |
| 1994 | 44.97 | -0.3% |
| 1995 | 44.37 | -1.3% |
| 1996 | 43.94 | -1.0% |
| 1997 | 41.32 | -6.0% |
| 1998 | 40.24 | -2.6% |
| 1999 | 44.77 | +11.3% |
| 2000 | 44.26 | -1.1% |
| 2001 | 46.91 | +6.0% |
| 2002 | 44.99 | -4.1% |
| 2003 | 47.23 | +5.0% |
| 2004 | 46.22 | -2.1% |
| 2005 | 44.23 | -4.3% |
| 2006 | 44.31 | +0.2% |
| 2007 | 44.12 | -0.4% |
| 2008 | 62.78 | +42.3% |
| 2009 | 53.34 | -15.0% |
| 2010 | 48.19 | -9.6% |
| 2011 | 49.97 | +3.7% |
| 2012 | 47.12 | -5.7% |
| 2013 | 45.63 | -3.2% |
| 2014 | 45.36 | -0.6% |
| 2015 | 43.02 | -5.1% |
| 2016 | 45.8 | +6.4% |
| 2017 | 43.82 | -4.3% |
| 2018 | 43.16 | -1.5% |
| 2019 | 43.05 | -0.3% |
| 2020 | 50.16 | +16.5% |
| 2021 | 48.71 | -2.9% |
| 2022 | 45.93 | -5.7% |
| 2023 | 45 | -2.0% |
| 2024 | 46.54 | +3.4% |
Iceland compared with similar countries
- Iceland's 46.54 is above the median for high income countries, which is 42.31, 1.1× the median. (56 countries reporting)
- Iceland's 46.54 is above the median for Europe & Central Asia, which is 44.41, 1.0× the median. (41 countries reporting)
Biggest year-on-year movements
Years where Historical gov spending gdp in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1917 | +128.0% | 6.65 | 15.15 |
| 1920 | +78.8% | 7.82 | 13.98 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1900s | 7.98 | 7.98 | 7.98 | 1 |
| 1910s | 8.25 | 5.84 | 15.15 | 10 |
| 1920s | 10.21 | 7.85 | 13.98 | 10 |
| 1930s | 12.32 | 11.27 | 13.3 | 10 |
| 1940s | 16.25 | 9.19 | 24.74 | 10 |
| 1950s | 26.05 | 21.19 | 36.04 | 10 |
| 1960s | 28.96 | 24.9 | 33.25 | 10 |
| 1970s | 33.1 | 29.85 | 36.89 | 10 |
| 1980s | 37.49 | 33.9 | 42.93 | 10 |
| 1990s | 43.48 | 40.24 | 45.1 | 10 |
| 2000s | 47.84 | 44.12 | 62.78 | 10 |
| 2010s | 45.51 | 43.02 | 49.97 | 10 |
| 2020s | 47.27 | 45 | 50.16 | 5 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Real gdp growth, annual growth rate -125.5 % change on previous year (2024)
- 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)
Frequently asked questions
- What is historical gov spending gdp in Iceland?
- Historical gov spending gdp in Iceland was 46.54 in 2024, according to Our World in Data.
- What is the highest historical gov spending gdp recorded in Iceland?
- The highest recorded value was 62.78 in 2008.
- What is the lowest historical gov spending gdp recorded in Iceland?
- The lowest recorded value was 5.84 in 1915.
- How does Iceland rank for historical gov spending gdp?
- Iceland ranks 23rd out of 151 countries with data for 2024.
- Is historical gov spending gdp rising or falling in Iceland?
- Over the last ten years it is up 2.6%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Our World in Data, published as part of Historical gov spending gdp. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 116 observations, free to reuse under CC BY 4.0 (Our World in Data).