Iceland—Government Expense (% of GDP)
Iceland's government expense (% of GDP) was 32.0% in 2023, ranking #49 out of 138 countries. This represents a -1.6% change from 2022. Over the past 24 years, the highest recorded value was 50.3% (2008) and the lowest was 29.0% (2000). Data sourced from the World Bank World Development Indicators.
Historical Data
| Year | Value | Change |
|---|---|---|
| 2023 | 32.0% | -1.6% |
| 2022 | 32.6% | -6.1% |
| 2021 | 34.7% | -4.6% |
| 2020 | 36.4% | +18.4% |
| 2019 | 30.7% | +1.0% |
| 2018 | 30.4% | -2.1% |
| 2017 | 31.0% | -11.3% |
| 2016 | 35.0% | +9.8% |
| 2015 | 31.9% | -6.2% |
| 2014 | 34.0% | -1.2% |
| 2013 | 34.4% | -6.0% |
| 2012 | 36.6% | -3.8% |
| 2011 | 38.0% | +1.4% |
| 2010 | 37.5% | -9.6% |
| 2009 | 41.5% | -17.6% |
| 2008 | 50.3% | +57.7% |
| 2007 | 31.9% | -1.1% |
| 2006 | 32.3% | -1.5% |
| 2005 | 32.7% | +8.4% |
| 2004 | 30.2% | -4.3% |
| 2003 | 31.6% | +4.8% |
| 2002 | 30.1% | +3.0% |
| 2001 | 29.3% | +1.0% |
| 2000 | 29.0% |
Top Countries — Government Expense (% of GDP)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Naoero | 103.6% | 2020 |
| 2 | Kiribati | 83.7% | 2023 |
| 3 | Ukraine | 65.6% | 2023 |
| 4 | Marshall Islands | 59.4% | 2020 |
| 5 | Palau | 59.0% | 2020 |
| 6 | Timor-Leste | 52.5% | 2022 |
| 7 | Greece | 47.3% | 2023 |
| 8 | Italy | 47.3% | 2023 |
| 9 | France | 47.3% | 2023 |
| 10 | Austria | 46.0% | 2023 |
About This Indicator
Definition
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.
Methodology
Original contributors: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF); World Development Indicators, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD)
Unit
% of GDP