Government expenditure as % of GDP GC.XPN.TOTL.GD.ZS
32.86%+0.79% (+2.5%)
Year 2025Rank #46 GlobalPeak 50.33% (2008)Source World Bank
Iceland Government Spending (1972–2025)
Overview
Iceland's government spending stood at 32.86% in 2025, a rise of +0.79% from 2023. Based on recent trends, this figure is projected to reach 32.86% by 2025. Iceland ranked 46th globally.
Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw government spending improve within 24 months. View full analysis →
Frequently Asked Questions
What is Iceland's government spending?▾
Iceland's government spending was 32.86% in 2025. Ranked 46th globally. This represents a 2.5% increase from the previous year.
What was the highest government spending in Iceland?▾
Iceland's government spending peaked at 50.33% in 2008.
What was the lowest government spending in Iceland?▾
The lowest government spending in Iceland was 21.74% in 1977.
How does Iceland rank in government spending?▾
Iceland ranks 46th globally in government spending as of 2025.
What is the World Bank indicator code for government spending?▾
The World Bank indicator code is GC.XPN.TOTL.GD.ZS. Data sourced from World Bank.
What is the projected government spending of Iceland in 2025?▾
Iceland's government spending is projected to reach 32.86% by 2025 based on trend extrapolation.
What is the government spending of Iceland in 2025?▾
The government spending of Iceland in 2025 was 32.86%. This ranks 46th in the world.
Cite this page
APA
Iceland Government Spending. HistorySaid. Retrieved April 1, 2026, from https://historysaid.com/iceland/government-spending
BibTeX
@misc{historysaid_iceland_government-spending,
title = {Iceland Government Spending},
url = {https://historysaid.com/iceland/government-spending},
publisher = {HistorySaid},
year = {2026}
}