Use of goods and services, Transactions (Statement of operations) in Iceland
Iceland: Use of goods and services, Transactions (Statement of operations) was 570.08 billion in 2025. ◆ Volatile
Use of goods and services, Transactions in Iceland, 2002–2025
Source: International Monetary Fund.
Analysis
In 2025, use of goods and services, transactions in Iceland stood at 570.08 billion. That is the highest value across all 24 years on record.
The figure is up 8.1% on the previous year and up 129.9% over ten years.
Over the whole period, use of goods and services, transactions in Iceland peaked at 570.08 billion in 2025 and was at its lowest, 92.35 billion, in 2002.
That places Iceland 6th out of 35 countries with data for 2025, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Use of goods and services, Transactions (Statement of operations) in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2002 | 92.35 billion | — |
| 2003 | 96.36 billion | +4.3% |
| 2004 | 104.82 billion | +8.8% |
| 2005 | 116.56 billion | +11.2% |
| 2006 | 134.29 billion | +15.2% |
| 2007 | 153.37 billion | +14.2% |
| 2008 | 184.33 billion | +20.2% |
| 2009 | 193.41 billion | +4.9% |
| 2010 | 198.90 billion | +2.8% |
| 2011 | 210.38 billion | +5.8% |
| 2012 | 219.01 billion | +4.1% |
| 2013 | 226.88 billion | +3.6% |
| 2014 | 235.05 billion | +3.6% |
| 2015 | 247.96 billion | +5.5% |
| 2016 | 260.30 billion | +5.0% |
| 2017 | 275.54 billion | +5.9% |
| 2018 | 302.70 billion | +9.9% |
| 2019 | 321.86 billion | +6.3% |
| 2020 | 345.11 billion | +7.2% |
| 2021 | 387.85 billion | +12.4% |
| 2022 | 431.60 billion | +11.3% |
| 2023 | 484.08 billion | +12.2% |
| 2024 | 527.17 billion | +8.9% |
| 2025 | 570.08 billion | +8.1% |
Iceland compared with similar countries
- Iceland's 570.08 billion is above the median for high income countries, which is 86.68 billion, 6.6× the median. (32 countries reporting)
- Iceland's 570.08 billion is above the median for Europe & Central Asia, which is 77.36 billion, 7.4× the median. (29 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 134.44 billion | 92.35 billion | 193.41 billion | 8 |
| 2010s | 249.86 billion | 198.90 billion | 321.86 billion | 10 |
| 2020s | 457.65 billion | 345.11 billion | 570.08 billion | 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 use of goods and services, transactions in Iceland?
- Use of goods and services, transactions in Iceland was 570.08 billion in 2025, according to International Monetary Fund.
- What is the highest use of goods and services, transactions recorded in Iceland?
- The highest recorded value was 570.08 billion in 2025.
- What is the lowest use of goods and services, transactions recorded in Iceland?
- The lowest recorded value was 92.35 billion in 2002.
- How does Iceland rank for use of goods and services, transactions?
- Iceland ranks 6th out of 35 countries with data for 2025.
- Is use of goods and services, transactions rising or falling in Iceland?
- Over the last ten years it is up 129.9%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from International Monetary Fund, published as part of Use of goods and services, 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.