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.
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
- External balance on goods and services as a percent of gdp -2.26 (2025)
- Inflation of consumer prices 4.09 (2025)
- Gdp per capita worldbank constant usd 58,910 (2025)
- Manufacturing value added to gdp 8.53 (2025)
- Gdp worldbank constant usd 23.12 billion (2025)
- Gdp per capita in international and market dollars 58,910 (2025)
- DEC alternative conversion factor 128.44 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -52.84 billion current LCU (2024)
- Net secondary income (Net current transfers from abroad) -383.05 million current US$ (2024)
- Taxes less subsidies on products 498.69 billion current LCU (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).