Expenditure on old age function by type of benefit and means-testing in Iceland
Iceland: Expenditure on old age function by type of benefit and means-testing was 2,340 Million euro in 2024. ◆ Volatile
Latest (2024)
2,340 Million euro
Change on year
up 8.6%
World rank
41st
of 45 countries
All-time high
2,340 Million euro
in 2024
All-time low
220.8 Million euro
in 1990
Years of data
35
1990–2024
Expenditure on old age function by type of benefit and means-testing in Iceland, 1990–2024
Source: Eurostat. Measured in Million euro.
Analysis
Iceland recorded 2,340 Million euro for expenditure on old age function by type of benefit and means-testing in 2024. That is the highest value across all 35 years on record.
The figure is up 8.6% on the previous year and up 197.2% over ten years.
Over the whole period, expenditure on old age function by type of benefit and means-testing in Iceland peaked at 2,340 Million euro in 2024 and was at its lowest, 220.8 Million euro, in 1990.
That places Iceland 41st out of 45 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Expenditure on old age function by type of benefit and means-testing in Iceland, year by year
| Year | Million euro | Change |
|---|---|---|
| 1990 | 220.8 Million euro | — |
| 1991 | 255.89 Million euro | +15.9% |
| 1992 | 261.16 Million euro | +2.1% |
| 1993 | 257.55 Million euro | -1.4% |
| 1994 | 261.37 Million euro | +1.5% |
| 1995 | 269.54 Million euro | +3.1% |
| 1996 | 289.8 Million euro | +7.5% |
| 1997 | 331.83 Million euro | +14.5% |
| 1998 | 380.08 Million euro | +14.5% |
| 1999 | 428.08 Million euro | +12.6% |
| 2000 | 508.27 Million euro | +18.7% |
| 2001 | 466.75 Million euro | -8.2% |
| 2002 | 556.45 Million euro | +19.2% |
| 2003 | 609.6 Million euro | +9.6% |
| 2004 | 666.33 Million euro | +9.3% |
| 2005 | 800.06 Million euro | +20.1% |
| 2006 | 797.46 Million euro | -0.3% |
| 2007 | 715.22 Million euro | -10.3% |
| 2008 | 500.31 Million euro | -30.0% |
| 2009 | 462.35 Million euro | -7.6% |
| 2010 | 486.62 Million euro | +5.2% |
| 2011 | 577.9 Million euro | +18.8% |
| 2012 | 627.65 Million euro | +8.6% |
| 2013 | 669.43 Million euro | +6.7% |
| 2014 | 787.43 Million euro | +17.6% |
| 2015 | 910.45 Million euro | +15.6% |
| 2016 | 1,131 Million euro | +24.2% |
| 2017 | 1,487 Million euro | +31.5% |
| 2018 | 1,549 Million euro | +4.2% |
| 2019 | 1,606 Million euro | +3.7% |
| 2020 | 1,620 Million euro | +0.9% |
| 2021 | 1,745 Million euro | +7.7% |
| 2022 | 1,962 Million euro | +12.5% |
| 2023 | 2,155 Million euro | +9.8% |
| 2024 | 2,340 Million euro | +8.6% |
Iceland compared with similar countries
- Iceland's 2,340 Million euro is below the median for Europe & Central Asia, which is 26,846 Million euro, 9% of the median. (34 countries reporting)
- Iceland's 2,340 Million euro is below the median for high income countries, which is 29,628 Million euro, 8% of the median. (31 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 295.61 Million euro | 220.8 Million euro | 428.08 Million euro | 10 |
| 2000s | 608.28 Million euro | 462.35 Million euro | 800.06 Million euro | 10 |
| 2010s | 983.18 Million euro | 486.62 Million euro | 1,606 Million euro | 10 |
| 2020s | 1,964 Million euro | 1,620 Million euro | 2,340 Million euro | 5 |
Countries ranked near Iceland
More reference data data for Iceland
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 0.0288 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 0.0708 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 0.1854 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 0.0001 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 0.1854 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 0.0964 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 0.062 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 0.2576 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 0.7664 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 0.0005 (2050)
Frequently asked questions
- What is expenditure on old age function by type of benefit and means-testing in Iceland?
- Expenditure on old age function by type of benefit and means-testing in Iceland was 2,340 Million euro in 2024, according to Eurostat.
- What is the highest expenditure on old age function by type of benefit and means-testing recorded in Iceland?
- The highest recorded value was 2,340 Million euro in 2024.
- What is the lowest expenditure on old age function by type of benefit and means-testing recorded in Iceland?
- The lowest recorded value was 220.8 Million euro in 1990.
- How does Iceland rank for expenditure on old age function by type of benefit and means-testing?
- Iceland ranks 41st out of 45 countries with data for 2024.
- Is expenditure on old age function by type of benefit and means-testing rising or falling in Iceland?
- Over the last ten years it is up 197.2%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Eurostat, published as part of Expenditure on old age function by type of benefit and means-testing. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 35 observations, free to reuse under CC BY 4.0 (Eurostat).