Total Expenditure (general government) — Value Standard Local Currency in Iceland
Iceland: Total Expenditure (general government) — Value Standard Local Currency was 2.14 million million SLC in 2024. ◆ Volatile
Total Expenditure (general government) — Value Standard Local Currency in Iceland, 2001–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
Iceland recorded 2.14 million million SLC for total expenditure (general government) — value standard local currency in 2024. That is the highest value across all 24 years on record.
That represents a change of up 8.6% on the previous year and up 135.1% over ten years.
Over the whole period, total expenditure (general government) — value standard local currency in Iceland peaked at 2.14 million million SLC in 2024 and was at its lowest, 328,801 million SLC, in 2001.
That places Iceland 35th out of 114 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Total Expenditure (general government) — Value Standard Local Currency in Iceland, year by year
| Year | million SLC | Change |
|---|---|---|
| 2001 | 328,801 million SLC | — |
| 2002 | 361,313 million SLC | +9.9% |
| 2003 | 383,782 million SLC | +6.2% |
| 2004 | 409,198 million SLC | +6.6% |
| 2005 | 477,628 million SLC | +16.7% |
| 2006 | 549,592 million SLC | +15.1% |
| 2007 | 621,152 million SLC | +13.0% |
| 2008 | 1.01 million million SLC | +62.4% |
| 2009 | 771,326 million SLC | -23.5% |
| 2010 | 799,305 million SLC | +3.6% |
| 2011 | 777,342 million SLC | -2.7% |
| 2012 | 807,229 million SLC | +3.8% |
| 2013 | 830,530 million SLC | +2.9% |
| 2014 | 908,205 million SLC | +9.4% |
| 2015 | 949,454 million SLC | +4.5% |
| 2016 | 1.11 million million SLC | +16.9% |
| 2017 | 1.13 million million SLC | +2.0% |
| 2018 | 1.18 million million SLC | +4.0% |
| 2019 | 1.32 million million SLC | +12.3% |
| 2020 | 1.50 million million SLC | +13.2% |
| 2021 | 1.62 million million SLC | +8.1% |
| 2022 | 1.81 million million SLC | +11.9% |
| 2023 | 1.97 million million SLC | +8.5% |
| 2024 | 2.14 million million SLC | +8.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 545,705 million SLC | 328,801 million SLC | 1.01 million million SLC | 9 |
| 2010s | 981,538 million SLC | 777,342 million SLC | 1.32 million million SLC | 10 |
| 2020s | 1.81 million million SLC | 1.50 million million SLC | 2.14 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 (general government) — value standard local currency in Iceland?
- Total expenditure (general government) — value standard local currency in Iceland was 2.14 million million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest total expenditure (general government) — value standard local currency recorded in Iceland?
- The highest recorded value was 2.14 million million SLC in 2024.
- What is the lowest total expenditure (general government) — value standard local currency recorded in Iceland?
- The lowest recorded value was 328,801 million SLC in 2001.
- How does Iceland rank for total expenditure (general government) — value standard local currency?
- Iceland ranks 35th out of 114 countries with data for 2024.
- Is total expenditure (general government) — value standard local currency rising or falling in Iceland?
- Over the last ten years it is up 135.1%. The long-run trend across the full record is volatile.
- 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 (general 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.