General government expenditure by function in Iceland
Iceland: General government expenditure by function was 2,860 Million euro in 2024. ▲ Rising
Latest (2024)
2,860 Million euro
Change on year
up 7.5%
World rank
32nd
of 38 countries
All-time high
2,860 Million euro
in 2024
All-time low
574.3 Million euro
in 1998
Years of data
27
1998–2024
General government expenditure by function in Iceland, 1998–2024
Source: Eurostat. Measured in Million euro.
Analysis
In 2024, general government expenditure by function in Iceland stood at 2,860 Million euro. That is the highest value across all 27 years on record.
That represents a change of up 7.5% on the previous year and up 125.2% over ten years.
Over the whole period, general government expenditure by function in Iceland peaked at 2,860 Million euro in 2024 and was at its lowest, 574.3 Million euro, in 1998.
Iceland ranks 32nd of 38 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 27 years of available data.
General government expenditure by function in Iceland, year by year
| Year | Million euro | Change |
|---|---|---|
| 1998 | 574.3 Million euro | — |
| 1999 | 673.5 Million euro | +17.3% |
| 2000 | 833.4 Million euro | +23.7% |
| 2001 | 773.2 Million euro | -7.2% |
| 2002 | 902.1 Million euro | +16.7% |
| 2003 | 926.3 Million euro | +2.7% |
| 2004 | 1,004 Million euro | +8.4% |
| 2005 | 1,260 Million euro | +25.5% |
| 2006 | 1,298 Million euro | +3.0% |
| 2007 | 1,491 Million euro | +14.8% |
| 2008 | 1,080 Million euro | -27.5% |
| 2009 | 922.4 Million euro | -14.6% |
| 2010 | 1,022 Million euro | +10.8% |
| 2011 | 1,091 Million euro | +6.7% |
| 2012 | 1,148 Million euro | +5.2% |
| 2013 | 1,176 Million euro | +2.5% |
| 2014 | 1,270 Million euro | +8.0% |
| 2015 | 1,410 Million euro | +11.0% |
| 2016 | 1,613 Million euro | +14.4% |
| 2017 | 1,884 Million euro | +16.8% |
| 2018 | 1,951 Million euro | +3.6% |
| 2019 | 1,911 Million euro | -2.1% |
| 2020 | 1,822 Million euro | -4.6% |
| 2021 | 2,095 Million euro | +15.0% |
| 2022 | 2,490 Million euro | +18.8% |
| 2023 | 2,660 Million euro | +6.8% |
| 2024 | 2,860 Million euro | +7.5% |
Iceland compared with similar countries
- Iceland's 2,860 Million euro is below the median for Europe & Central Asia, which is 20,187 Million euro, 14% of the median. (29 countries reporting)
- Iceland's 2,860 Million euro is below the median for high income countries, which is 19,434 Million euro, 15% of the median. (30 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 623.9 Million euro | 574.3 Million euro | 673.5 Million euro | 2 |
| 2000s | 1,049 Million euro | 773.2 Million euro | 1,491 Million euro | 10 |
| 2010s | 1,448 Million euro | 1,022 Million euro | 1,951 Million euro | 10 |
| 2020s | 2,385 Million euro | 1,822 Million euro | 2,860 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 general government expenditure by function in Iceland?
- General government expenditure by function in Iceland was 2,860 Million euro in 2024, according to Eurostat.
- What is the highest general government expenditure by function recorded in Iceland?
- The highest recorded value was 2,860 Million euro in 2024.
- What is the lowest general government expenditure by function recorded in Iceland?
- The lowest recorded value was 574.3 Million euro in 1998.
- How does Iceland rank for general government expenditure by function?
- Iceland ranks 32nd out of 38 countries with data for 2024.
- Is general government expenditure by function rising or falling in Iceland?
- Over the last ten years it is up 125.2%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Eurostat, published as part of General government expenditure by function (COFOG). Statizoid updates them automatically from the source API.
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