Total Expenditure (central government) — Value Standard Local Currency in Iceland
Iceland: Total Expenditure (central government) — Value Standard Local Currency was 1.57 million million SLC in 2024. ▲ Rising
Total Expenditure (central government) — Value Standard Local Currency in Iceland, 2001–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
The most recent figure for total expenditure (central government) — value standard local currency in Iceland is 1.57 million million SLC, measured in 2024. That is the highest value across all 24 years on record.
The figure is up 9.5% on the previous year and up 134.0% over ten years.
Over the whole period, total expenditure (central government) — value standard local currency in Iceland peaked at 1.57 million million SLC in 2024 and was at its lowest, 244,715 million SLC, in 2001.
That places Iceland 54th out of 174 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 24 years of available data.
Total Expenditure (central government) — Value Standard Local Currency in Iceland, year by year
| Year | million SLC | Change |
|---|---|---|
| 2001 | 244,715 million SLC | — |
| 2002 | 263,109 million SLC | +7.5% |
| 2003 | 283,278 million SLC | +7.7% |
| 2004 | 297,591 million SLC | +5.1% |
| 2005 | 360,894 million SLC | +21.3% |
| 2006 | 412,365 million SLC | +14.3% |
| 2007 | 470,462 million SLC | +14.1% |
| 2008 | 822,674 million SLC | +74.9% |
| 2009 | 679,827 million SLC | -17.4% |
| 2010 | 643,551 million SLC | -5.3% |
| 2011 | 709,740 million SLC | +10.3% |
| 2012 | 678,590 million SLC | -4.4% |
| 2013 | 618,049 million SLC | -8.9% |
| 2014 | 669,829 million SLC | +8.4% |
| 2015 | 698,324 million SLC | +4.3% |
| 2016 | 848,783 million SLC | +21.5% |
| 2017 | 804,849 million SLC | -5.2% |
| 2018 | 852,752 million SLC | +6.0% |
| 2019 | 967,330 million SLC | +13.4% |
| 2020 | 1.11 million million SLC | +14.9% |
| 2021 | 1.19 million million SLC | +7.3% |
| 2022 | 1.33 million million SLC | +11.9% |
| 2023 | 1.43 million million SLC | +7.4% |
| 2024 | 1.57 million million SLC | +9.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 426,102 million SLC | 244,715 million SLC | 822,674 million SLC | 9 |
| 2010s | 749,180 million SLC | 618,049 million SLC | 967,330 million SLC | 10 |
| 2020s | 1.33 million million SLC | 1.11 million million SLC | 1.57 million million SLC | 5 |
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 value added at basic prices (GVA) (current US$), annual growth 17.56 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8994 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 88,429 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 9.45 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 115.52 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 11.36 million current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5382 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is total expenditure (central government) — value standard local currency in Iceland?
- Total expenditure (central government) — value standard local currency in Iceland was 1.57 million million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest total expenditure (central government) — value standard local currency recorded in Iceland?
- The highest recorded value was 1.57 million million SLC in 2024.
- What is the lowest total expenditure (central government) — value standard local currency recorded in Iceland?
- The lowest recorded value was 244,715 million SLC in 2001.
- How does Iceland rank for total expenditure (central government) — value standard local currency?
- Iceland ranks 54th out of 174 countries with data for 2024.
- Is total expenditure (central government) — value standard local currency rising or falling in Iceland?
- Over the last ten years it is up 134.0%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Total Expenditure (central government) — Value Standard Local Currency. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY-NC-SA 3.0 IGO (FAO).
About this data
The Statistics Division of FAO collects annually data on Government Expenditure on Agriculture through a questionnaire, which was developed in partnership with the International Monetary Fund (IMF). The IMF is the responsible institution for the Government Finance Statistics (GFS) methodology and annually collects GFS data, including Expenditure by Functions of Government (COFOG). The Classification of the Functions of Government (COFOG) is an international classification developed by Organisation for Economic Co-operation and Development (OECD) and published by the United Nations Statistical Division (UNSD), with the aim of categorise governments' functions according to their purposes. The FAO questionnaire aligns with Table 7 of the IMF GFS questionnaire, replicates the relevant aggregates and drills down to request additional detail related to Agriculture. The FAO dataset consists of a time series, from 2001 onwards, of Total Government Expenditure and expenditure in: Agriculture, Forestry, Fishing and Hunting, along with its three disaggregated subsectors of Agriculture, Forestry and Fishing; and Environmental Protection. In addition, expenditure in each detailed function are further disaggregated into Recurrent and Capital expenditure. Additional indicators include the Agriculture Share of Government Expenditure, and the Agriculture Orientation Index (ratio between the Agriculture Share of Government Expenditure and the Agriculture Value Added as Share of GDP). Data are reported for the highest level of government available (Consolidated general government, consolidated central government or budgetary central government) and are available for about 100 countries on a regular basis.