Total Expenditure (central government) — Value US$, 2015 prices in Iceland
Iceland: Total Expenditure (central government) — Value US$, 2015 prices was 7,967 million USD in 2024. ▲ Rising
Total Expenditure (central government) — Value US$, 2015 prices in Iceland, 2001–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
In 2024, total expenditure (central government) — value us$, 2015 prices in Iceland stood at 7,967 million USD.
The figure is up 3.4% on the previous year and up 47.9% over ten years.
Over the whole period, total expenditure (central government) — value us$, 2015 prices in Iceland peaked at 8,841 million USD in 2008 and was at its lowest, 3,763 million USD, in 2001.
That places Iceland 89th out of 173 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 24 years of available data.
Total Expenditure (central government) — Value US$, 2015 prices in Iceland, year by year
| Year | million USD | Change |
|---|---|---|
| 2001 | 3,763 million USD | — |
| 2002 | 3,821 million USD | +1.6% |
| 2003 | 4,094 million USD | +7.1% |
| 2004 | 4,189 million USD | +2.3% |
| 2005 | 4,929 million USD | +17.7% |
| 2006 | 5,185 million USD | +5.2% |
| 2007 | 5,670 million USD | +9.4% |
| 2008 | 8,841 million USD | +55.9% |
| 2009 | 6,594 million USD | -25.4% |
| 2010 | 5,868 million USD | -11.0% |
| 2011 | 6,277 million USD | +7.0% |
| 2012 | 5,802 million USD | -7.6% |
| 2013 | 5,175 million USD | -10.8% |
| 2014 | 5,385 million USD | +4.1% |
| 2015 | 5,294 million USD | -1.7% |
| 2016 | 6,292 million USD | +18.9% |
| 2017 | 5,911 million USD | -6.1% |
| 2018 | 6,102 million USD | +3.2% |
| 2019 | 6,627 million USD | +8.6% |
| 2020 | 7,320 million USD | +10.5% |
| 2021 | 7,383 million USD | +0.9% |
| 2022 | 7,585 million USD | +2.7% |
| 2023 | 7,705 million USD | +1.6% |
| 2024 | 7,967 million USD | +3.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 5,232 million USD | 3,763 million USD | 8,841 million USD | 9 |
| 2010s | 5,873 million USD | 5,175 million USD | 6,627 million USD | 10 |
| 2020s | 7,592 million USD | 7,320 million USD | 7,967 million USD | 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)
- GDP (constant 2015 US$), annual growth rate 1.28 % change on previous year (2025)
- GDP (constant 2015 US$), per unit of GDP 0.5991 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), per capita 58,910 constant 2015 US$ per person (2025)
- GDP (constant LCU), annual growth rate 1.28 % change on previous year (2025)
- GDP (constant LCU), per unit of GDP 92.99 constant LCU per US$ of GDP (2025)
- GDP (constant LCU), per capita 9.14 million constant LCU per person (2025)
- Gross domestic savings (current US$), annual growth rate 13.17 % change on previous year (2025)
- Gross domestic savings (current US$), per unit of GDP 0.2431 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is total expenditure (central government) — value us$, 2015 prices in Iceland?
- Total expenditure (central government) — value us$, 2015 prices in Iceland was 7,967 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest total expenditure (central government) — value us$, 2015 prices recorded in Iceland?
- The highest recorded value was 8,841 million USD in 2008.
- What is the lowest total expenditure (central government) — value us$, 2015 prices recorded in Iceland?
- The lowest recorded value was 3,763 million USD in 2001.
- How does Iceland rank for total expenditure (central government) — value us$, 2015 prices?
- Iceland ranks 89th out of 173 countries with data for 2024.
- Is total expenditure (central government) — value us$, 2015 prices rising or falling in Iceland?
- Over the last ten years it is up 47.9%. 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 US$, 2015 prices. 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.