Iceland | Goods and services expense (current LCU)

Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Own-account capital formation is excluded. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source
Iceland | Goods and services expense (current LCU)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972 19600000
1973 26500000
1974 41700000
1975 61200000
1976 90300000
1977 115800000
1978 183100000
1979 273600000
1980 463600000
1981 733600000
1982
1983
1984
1985
1986
1987 14101300000
1988 17864400000
1989 21336800000
1990 24916600000
1991 27203200000
1992 27735900000
1993 28525100000
1994 30347700000
1995 31679200000
1996 33324700000
1997 33722700000
1998 36702700000
1999 44153700000
2000 50489300000
2001 56610683057.223
2002 62444481038.263
2003 65111966376.258
2004 71425551284.005
2005 80874140348.577
2006 92475935900.648
2007 102488492799.65
2008 121503328141.79
2009 127907523986.12
2010 129890110050.16
2011 136306399822.9
2012 140600731588.58
2013 140277804706.33
2014 142921558597.08
2015 150833412715.36
2016 159325224660.12
2017 170242023068.8
2018 184690428513.62
2019 199000834876.7
2020 209326021838.78
2021 241640894617.9
2022 265041770505.52

Iceland | Goods and services expense (current LCU)

Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Own-account capital formation is excluded. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source