Expenditure, Transactions (Statement of operations, General) in Iceland
Iceland: Expenditure, Transactions (Statement of operations, General) was 2.23 trillion in 2025. ▲ Rising
Expenditure, Transactions in Iceland, 2002–2025
Source: International Monetary Fund.
Analysis
Iceland recorded 2.23 trillion for expenditure, transactions in 2025. That is the highest value across all 24 years on record.
The figure is up 3.3% on the previous year and up 121.9% over ten years.
Over the whole period, expenditure, transactions in Iceland peaked at 2.23 trillion in 2025 and was at its lowest, 388.36 billion, in 2002.
Iceland ranks 10th of 35 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 24 years of available data.
Expenditure, Transactions (Statement of operations, General) in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2002 | 388.36 billion | — |
| 2003 | 419.81 billion | +8.1% |
| 2004 | 453.15 billion | +7.9% |
| 2005 | 477.68 billion | +5.4% |
| 2006 | 549.84 billion | +15.1% |
| 2007 | 621.77 billion | +13.1% |
| 2008 | 1.01 trillion | +62.1% |
| 2009 | 871.53 billion | -13.5% |
| 2010 | 821.01 billion | -5.8% |
| 2011 | 892.55 billion | +8.7% |
| 2012 | 882.45 billion | -1.1% |
| 2013 | 904.67 billion | +2.5% |
| 2014 | 955.80 billion | +5.7% |
| 2015 | 1.01 trillion | +5.1% |
| 2016 | 1.17 trillion | +16.2% |
| 2017 | 1.17 trillion | +0.4% |
| 2018 | 1.25 trillion | +6.8% |
| 2019 | 1.32 trillion | +5.2% |
| 2020 | 1.50 trillion | +14.2% |
| 2021 | 1.62 trillion | +7.7% |
| 2022 | 1.82 trillion | +12.4% |
| 2023 | 1.98 trillion | +8.5% |
| 2024 | 2.16 trillion | +9.2% |
| 2025 | 2.23 trillion | +3.3% |
Iceland compared with similar countries
- Iceland's 2.23 trillion is above the median for high income countries, which is 646.96 billion, 3.4× the median. (32 countries reporting)
- Iceland's 2.23 trillion is above the median for Europe & Central Asia, which is 529.04 billion, 4.2× the median. (29 countries reporting)
Biggest year-on-year movements
Years where Expenditure, Transactions (Statement of operations, General) in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2008 | +62.1% | 621.77 billion | 1.01 trillion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 598.78 billion | 388.36 billion | 1.01 trillion | 8 |
| 2010s | 1.04 trillion | 821.01 billion | 1.32 trillion | 10 |
| 2020s | 1.89 trillion | 1.50 trillion | 2.23 trillion | 6 |
Countries ranked near Iceland
More public sector data for Iceland
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- 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)
Frequently asked questions
- What is expenditure, transactions in Iceland?
- Expenditure, transactions in Iceland was 2.23 trillion in 2025, according to International Monetary Fund.
- What is the highest expenditure, transactions recorded in Iceland?
- The highest recorded value was 2.23 trillion in 2025.
- What is the lowest expenditure, transactions recorded in Iceland?
- The lowest recorded value was 388.36 billion in 2002.
- How does Iceland rank for expenditure, transactions?
- Iceland ranks 10th out of 35 countries with data for 2025.
- Is expenditure, transactions rising or falling in Iceland?
- Over the last ten years it is up 121.9%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from International Monetary Fund, published as part of Expenditure, Transactions (Statement of operations, General government). Statizoid updates them automatically from the source API.
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About this data
The Government Finance Statistics (GFS) includes government revenues and expenditures, government net lending / net borrowing (the surplus / deficit) financing transactions and balance sheet data on government assets and liabilities. Statistics are available for different levels of government including budgetary central government, central government and general government.