Annual government expenditure by function (COFOG) — Gross capital in Iceland
Iceland: Annual government expenditure by function (COFOG) — Gross capital was 186,101 National currency in 2024. ◆ Volatile
Annual government expenditure by function (COFOG) — Gross capital in Iceland, 1998–2024
Source: Organisation for Economic Co-operation and Development. Measured in National currency.
Analysis
Iceland recorded 186,101 National currency for annual government expenditure by function (cofog) — gross capital in 2024. That is the highest value across all 27 years on record.
That represents a change of up 4.3% on the previous year and up 197.5% over ten years.
Over the whole period, annual government expenditure by function (cofog) — gross capital in Iceland peaked at 186,101 National currency in 2024 and was at its lowest, 30,416 National currency, in 1998.
That places Iceland 10th out of 28 countries with data for 2024, putting it 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) — Gross capital in Iceland, year by year
| Year | National currency | Change |
|---|---|---|
| 1998 | 30,416 National currency | — |
| 1999 | 34,246 National currency | +12.6% |
| 2000 | 33,063 National currency | -3.5% |
| 2001 | 40,667 National currency | +23.0% |
| 2002 | 38,386 National currency | -5.6% |
| 2003 | 37,008 National currency | -3.6% |
| 2004 | 43,250 National currency | +16.9% |
| 2005 | 40,160 National currency | -7.1% |
| 2006 | 54,804 National currency | +36.5% |
| 2007 | 65,514 National currency | +19.5% |
| 2008 | 75,975 National currency | +16.0% |
| 2009 | 64,477 National currency | -15.1% |
| 2010 | 55,805 National currency | -13.4% |
| 2011 | 73,498 National currency | +31.7% |
| 2012 | 47,890 National currency | -34.8% |
| 2013 | 60,790 National currency | +26.9% |
| 2014 | 62,561 National currency | +2.9% |
| 2015 | 65,489 National currency | +4.7% |
| 2016 | 67,976 National currency | +3.8% |
| 2017 | 83,668 National currency | +23.1% |
| 2018 | 122,671 National currency | +46.6% |
| 2019 | 111,889 National currency | -8.8% |
| 2020 | 118,329 National currency | +5.8% |
| 2021 | 145,068 National currency | +22.6% |
| 2022 | 161,480 National currency | +11.3% |
| 2023 | 178,479 National currency | +10.5% |
| 2024 | 186,101 National currency | +4.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 32,331 National currency | 30,416 National currency | 34,246 National currency | 2 |
| 2000s | 49,330 National currency | 33,063 National currency | 75,975 National currency | 10 |
| 2010s | 75,224 National currency | 47,890 National currency | 122,671 National currency | 10 |
| 2020s | 157,891 National currency | 118,329 National currency | 186,101 National currency | 5 |
Countries ranked near Iceland
- 7 Czechia 381,072 National currency compare
- 7 Estonia 2,780 National currency compare
- 8 Latvia 2,714 National currency compare
- 8 Sweden 362,603 National currency compare
- 9 Norway 283,224 National currency compare
- 11 France 132,089 National currency compare
- 12 Germany 131,382 National currency compare
- 13 Australia 105,307 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) — gross capital in Iceland?
- Annual government expenditure by function (cofog) — gross capital in Iceland was 186,101 National currency in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest annual government expenditure by function (cofog) — gross capital recorded in Iceland?
- The highest recorded value was 186,101 National currency in 2024.
- What is the lowest annual government expenditure by function (cofog) — gross capital recorded in Iceland?
- The lowest recorded value was 30,416 National currency in 1998.
- How does Iceland rank for annual government expenditure by function (cofog) — gross capital?
- Iceland ranks 10th out of 28 countries with data for 2024.
- Is annual government expenditure by function (cofog) — gross capital rising or falling in Iceland?
- Over the last ten years it is up 197.5%. 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) — Gross capital formation and acquisitions less disposals of non-produced assets. 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