Expense in Iceland
Iceland: Expense was 32.0% in 2023. ▲ Rising
Expense in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for expense in Iceland is 32.0%, measured in 2023.
The figure is down 1.6% on the previous year and down 6.8% over ten years.
Over the whole period, expense in Iceland peaked at 50.3% in 2008 and was at its lowest, 21.7%, in 1977.
Iceland ranks 53rd of 157 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 52 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 23.3% | 21.7% | 25.9% | 8 |
| 1980s | 25.2% | 22.1% | 30.3% | 10 |
| 1990s | 29.0% | 26.7% | 30.0% | 10 |
| 2000s | 33.9% | 29.0% | 50.3% | 10 |
| 2010s | 33.9% | 30.4% | 38.0% | 10 |
| 2020s | 33.9% | 32.0% | 36.4% | 4 |
Countries ranked near Iceland
More economy & growth data for Iceland
- 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)
- Taxes less subsidies on products 3.88 billion current US$ (2025)
- Net primary income (Net income from abroad) -40.83 billion current LCU (2024)
- Net primary income (Net income from abroad) -295.94 million current US$ (2024)
- GNI per capita 12.60 million current LCU (2025)
- GNI per capita, Atlas method 89,220 current US$ (2025)
- GNI 4.94 trillion current LCU (2025)
Frequently asked questions
- What is expense in Iceland?
- Expense in Iceland was 32.0% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest expense recorded in Iceland?
- The highest recorded value was 50.3% in 2008.
- What is the lowest expense recorded in Iceland?
- The lowest recorded value was 21.7% in 1977.
- How does Iceland rank for expense?
- Iceland ranks 53rd out of 157 countries with data for 2023.
- Is expense rising or falling in Iceland?
- Over the last ten years it is down 6.8%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Expense (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 52 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Expense is a decrease in net worth resulting from a transaction. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.