Annual government expenditure by function (COFOG) — Compensation of in Iceland
Iceland: Annual government expenditure by function (COFOG) — Compensation of was 649,357 National currency in 2024. ◆ Volatile
Annual government expenditure by function (COFOG) — Compensation of in Iceland, 1998–2024
Source: Organisation for Economic Co-operation and Development. Measured in National currency.
Analysis
The most recent figure for annual government expenditure by function (cofog) — compensation of in Iceland is 649,357 National currency, measured in 2024. That is the highest value across all 27 years on record.
The figure is up 7.6% on the previous year and up 131.4% over ten years.
Over the whole period, annual government expenditure by function (cofog) — compensation of in Iceland peaked at 649,357 National currency in 2024 and was at its lowest, 81,493 National currency, in 1998.
Iceland ranks 11th of 29 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Annual government expenditure by function (COFOG) — Compensation of in Iceland, year by year
| Year | National currency | Change |
|---|---|---|
| 1998 | 81,493 National currency | — |
| 1999 | 89,156 National currency | +9.4% |
| 2000 | 97,062 National currency | +8.9% |
| 2001 | 111,013 National currency | +14.4% |
| 2002 | 125,824 National currency | +13.3% |
| 2003 | 134,734 National currency | +7.1% |
| 2004 | 143,107 National currency | +6.2% |
| 2005 | 157,711 National currency | +10.2% |
| 2006 | 175,708 National currency | +11.4% |
| 2007 | 189,745 National currency | +8.0% |
| 2008 | 211,593 National currency | +11.5% |
| 2009 | 219,256 National currency | +3.6% |
| 2010 | 222,323 National currency | +1.4% |
| 2011 | 232,475 National currency | +4.6% |
| 2012 | 246,031 National currency | +5.8% |
| 2013 | 260,977 National currency | +6.1% |
| 2014 | 280,678 National currency | +7.5% |
| 2015 | 312,071 National currency | +11.2% |
| 2016 | 337,899 National currency | +8.3% |
| 2017 | 372,933 National currency | +10.4% |
| 2018 | 402,610 National currency | +8.0% |
| 2019 | 432,346 National currency | +7.4% |
| 2020 | 472,551 National currency | +9.3% |
| 2021 | 510,767 National currency | +8.1% |
| 2022 | 566,700 National currency | +11.0% |
| 2023 | 603,738 National currency | +6.5% |
| 2024 | 649,357 National currency | +7.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 85,324 National currency | 81,493 National currency | 89,156 National currency | 2 |
| 2000s | 156,575 National currency | 97,062 National currency | 219,256 National currency | 10 |
| 2010s | 310,034 National currency | 222,323 National currency | 432,346 National currency | 10 |
| 2020s | 560,623 National currency | 472,551 National currency | 649,357 National currency | 5 |
Countries ranked near Iceland
- 8 Sweden 813,478 National currency compare
- 8 Estonia 4,872 National currency compare
- 9 Czechia 775,674 National currency compare
- 10 Norway 702,202 National currency compare
- 12 Denmark 418,406 National currency compare
- 13 France 362,149 National currency compare
- 14 Germany 357,317 National currency compare
More public sector data for Iceland
- Military expenditure (current USD), per capita 0 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0 current USD per US$ of GDP (2024)
- Military expenditure (current USD), gaps filled 0 current USD (2024)
- Military expenditure (current USD), per square kilometre 0 current USD per square kilometre (2023)
- Tax revenue 23.2% (2023)
- Capital stock, General government, Current prices, Domestic currency 1,595 (2019)
- Taxes on income, profits and capital gains 34.6% (2023)
- Capital stock, General government, Constant prices, Percent of GDP 51.25 (2019)
- Capital stock, General government, Constant prices, Purchasing power 10.26 (2019)
- Taxes on goods and services 35.2% (2023)
Frequently asked questions
- What is annual government expenditure by function (cofog) — compensation of in Iceland?
- Annual government expenditure by function (cofog) — compensation of in Iceland was 649,357 National currency in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest annual government expenditure by function (cofog) — compensation of recorded in Iceland?
- The highest recorded value was 649,357 National currency in 2024.
- What is the lowest annual government expenditure by function (cofog) — compensation of recorded in Iceland?
- The lowest recorded value was 81,493 National currency in 1998.
- How does Iceland rank for annual government expenditure by function (cofog) — compensation of?
- Iceland ranks 11th out of 29 countries with data for 2024.
- Is annual government expenditure by function (cofog) — compensation of rising or falling in Iceland?
- Over the last ten years it is up 131.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Annual government expenditure by function (COFOG) — Compensation of employees. Statizoid updates them automatically from the source API.
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About this data
This table provides a breakdown of government expenditure according to the Classification of the Functions of Government (COFOG), which shows how much governments spend in areas such as health, education, environmental protection, defence and servicing public debt. The presentation is on a country-by-country basis. Users are recommended to select one country (or area) at a time in the ‘Reference area’ filter. Data is presented for each country in national currency as well as in euros for the European Union and the euro area. Data are also available, for most countries, for the sub-sectors of general government. Specific categories of expenditure (such as health and education) can be selected using the ‘Expenditure’ filter, while details of the type of expenditure such as compensation of employees (payment of wages and salaries and employers’ social contributions) can be selected using the ‘Transaction’ filter. For government final consumption expenditure a breakdown is also provided, in the ‘Transaction’ filter, between individual and collective consumption expenditure. Data is for General Government. For most countries, results are also available for the General Government sub-sectors: central, local and state (regional) government and social security. These sub-sectors can be selected using the ‘Institutional sector’ filter. These indicators were presented in the previous dissemination system in the SNA_TABLE11 dataset. See ANA Changes for information on changes in methodology: ANA Changes Explore also the Government Finances and Public Sector Debt webpage: Government Finances and Public Sector Debt webpage OECD statistics contact: STAT.Contact@oecd.org