Iceland | General government final consumption expenditure (% of GDP)
General government final consumption expenditure (formerly general government consumption) includes all government current expenditures for purchases of goods and services (including compensation of employees). It also includes most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source
Create chart Download showed records Download Full dataset
Iceland | General government final consumption expenditure (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
13.26645092 1970
13.71026125 1971
15.20665194 1972
14.72229137 1973
16.37259621 1974
16.75478769 1975
15.9677073 1976
16.08413087 1977
17.05374539 1978
17.6080178 1979
16.97806474 1980
17.28267085 1981
18.17613502 1982
18.25444588 1983
16.77214364 1984
17.67686559 1985
18.09790632 1986
18.90705129 1987
19.96587912 1988
19.32467402 1989
19.18712997 1990
19.80861326 1991
20.40760224 1992
20.88835567 1993
20.77186019 1994
21.24488398 1995
21.15807546 1996
20.79027917 1997
21.26086641 1998
22.09062323 1999
22.71706822 2000
22.95211342 2001
24.51835105 2002
25.25475119 2003
24.29646642 2004
24.45580034 2005
24.30658239 2006
23.80469594 2007
24.26164298 2008
25.30379921 2009
24.82103861 2010
24.87558834 2011
24.75616613 2012
24.35010654 2013
24.12390602 2014
23.42735463 2015
23.00974929 2016
23.67726419 2017
24.14720819 2018
24.58737631 2019
28.15413182 2020
27.58470843 2021
26.17812758 2022
Iceland | General government final consumption expenditure (% of GDP)
General government final consumption expenditure (formerly general government consumption) includes all government current expenditures for purchases of goods and services (including compensation of employees). It also includes most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source
Create chart Download showed records Download Full dataset