Share of household consumption in GDP vs. GDP per capita in Iceland
Iceland: Share of household consumption in GDP vs. GDP per capita was 49.0% in 2023. ▲ Rising
Latest (2023)
49.0%
Change on year
down 5.6%
World rank
154th
of 184 countries
All-time high
67.2%
in 2007
All-time low
48.0%
in 1975
Years of data
74
1950–2023
Share of household consumption in GDP vs. GDP per capita in Iceland, 1950–2023
Source: Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data. Measured in % of GDP.
Analysis
In 2023, share of household consumption in gdp vs. gdp per capita in Iceland stood at 49.0%.
Compared with earlier readings it is down 5.6% on the previous year and down 12.3% over ten years.
Over the whole period, share of household consumption in gdp vs. gdp per capita in Iceland peaked at 67.2% in 2007 and was at its lowest, 48.0%, in 1975.
That places Iceland 154th out of 184 countries with data for 2023, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 74 years of available data.
Share of household consumption in GDP vs. GDP per capita in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1950 | 58.8% | — |
| 1951 | 57.2% | -2.6% |
| 1952 | 54.1% | -5.5% |
| 1953 | 55.4% | +2.3% |
| 1954 | 54.2% | -2.1% |
| 1955 | 50.5% | -6.9% |
| 1956 | 53.0% | +4.9% |
| 1957 | 50.9% | -3.8% |
| 1958 | 49.5% | -2.9% |
| 1959 | 51.1% | +3.3% |
| 1960 | 52.4% | +2.5% |
| 1961 | 49.6% | -5.2% |
| 1962 | 52.2% | +5.1% |
| 1963 | 51.2% | -1.8% |
| 1964 | 49.5% | -3.5% |
| 1965 | 48.7% | -1.5% |
| 1966 | 51.4% | +5.4% |
| 1967 | 53.5% | +4.2% |
| 1968 | 54.7% | +2.2% |
| 1969 | 48.9% | -10.6% |
| 1970 | 52.6% | +7.7% |
| 1971 | 51.1% | -2.9% |
| 1972 | 54.7% | +7.0% |
| 1973 | 51.2% | -6.4% |
| 1974 | 54.1% | +5.6% |
| 1975 | 48.0% | -11.3% |
| 1976 | 50.3% | +4.9% |
| 1977 | 50.8% | +0.8% |
| 1978 | 52.9% | +4.3% |
| 1979 | 52.4% | -0.9% |
| 1980 | 52.4% | -0.1% |
| 1981 | 53.3% | +1.7% |
| 1982 | 53.7% | +0.7% |
| 1983 | 55.7% | +3.8% |
| 1984 | 52.5% | -5.8% |
| 1985 | 54.2% | +3.3% |
| 1986 | 53.6% | -1.1% |
| 1987 | 56.3% | +5.0% |
| 1988 | 52.9% | -6.0% |
| 1989 | 53.1% | +0.3% |
| 1990 | 53.6% | +1.0% |
| 1991 | 53.6% | -0.0% |
| 1992 | 54.7% | +2.0% |
| 1993 | 52.0% | -5.0% |
| 1994 | 51.4% | -1.1% |
| 1995 | 53.3% | +3.8% |
| 1996 | 55.4% | +3.9% |
| 1997 | 55.5% | +0.2% |
| 1998 | 57.6% | +3.8% |
| 1999 | 59.7% | +3.6% |
| 2000 | 59.5% | -0.3% |
| 2001 | 55.1% | -7.5% |
| 2002 | 53.3% | -3.2% |
| 2003 | 56.2% | +5.4% |
| 2004 | 57.6% | +2.4% |
| 2005 | 64.4% | +11.8% |
| 2006 | 67.1% | +4.2% |
| 2007 | 67.2% | +0.1% |
| 2008 | 55.6% | -17.2% |
| 2009 | 51.0% | -8.3% |
| 2010 | 55.0% | +7.9% |
| 2011 | 56.1% | +1.9% |
| 2012 | 56.6% | +0.9% |
| 2013 | 55.9% | -1.1% |
| 2014 | 55.9% | -0.1% |
| 2015 | 52.6% | -5.9% |
| 2016 | 51.8% | -1.6% |
| 2017 | 54.1% | +4.5% |
| 2018 | 52.9% | -2.2% |
| 2019 | 50.0% | -5.5% |
| 2020 | 53.3% | +6.6% |
| 2021 | 52.0% | -2.3% |
| 2022 | 51.9% | -0.2% |
| 2023 | 49.0% | -5.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 53.5% | 49.5% | 58.8% | 10 |
| 1960s | 51.2% | 48.7% | 54.7% | 10 |
| 1970s | 51.8% | 48.0% | 54.7% | 10 |
| 1980s | 53.8% | 52.4% | 56.3% | 10 |
| 1990s | 54.7% | 51.4% | 59.7% | 10 |
| 2000s | 58.7% | 51.0% | 67.2% | 10 |
| 2010s | 54.1% | 50.0% | 56.6% | 10 |
| 2020s | 51.6% | 49.0% | 53.3% | 4 |
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)
- Households and NPISHs Final consumption expenditure (current LCU) 9.4 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 63.74 current LCU per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current LCU) 6.27 million current LCU per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 4.32 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.3194 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 31,408 constant 2015 US$ per person (2025)
- Final consumption expenditure (current US$), annual growth rate 17.29 % change on previous year (2025)
- Final consumption expenditure (current US$), per unit of GDP 0.7569 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is share of household consumption in gdp vs. gdp per capita in Iceland?
- Share of household consumption in gdp vs. gdp per capita in Iceland was 49.0% in 2023, according to Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest share of household consumption in gdp vs. gdp per capita recorded in Iceland?
- The highest recorded value was 67.2% in 2007.
- What is the lowest share of household consumption in gdp vs. gdp per capita recorded in Iceland?
- The lowest recorded value was 48.0% in 1975.
- How does Iceland rank for share of household consumption in gdp vs. gdp per capita?
- Iceland ranks 154th out of 184 countries with data for 2023.
- Is share of household consumption in gdp vs. gdp per capita rising or falling in Iceland?
- Over the last ten years it is down 12.3%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data, published as part of Share of household consumption in GDP vs. GDP per capita. Statizoid updates them automatically from the source API.
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About this data
Household consumption divided by gross domestic product, expressed as a percentage.