Household final consumption expenditure; PPP (constant 2005 international dollar) in Iceland

The Household final consumption expenditure; PPP (constant 2005 international dollar) in Iceland was last reported at 5012645656.00 in 2010, according to a World Bank report released in 2011. The Household final consumption expenditure; PPP (constant 2005 international dollar) in Iceland was 5029826095.14 in 2009, according to a World Bank report, published in 2010. The Household final consumption expenditure; PPP (constant 2005 international dollar) in Iceland was reported at 5910673810.12 in 2008, according to the World Bank. Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are converted to constant 2005 international dollars using purchasing power parity rates.This page includes a historical data chart, news and forecasts for Household final consumption expenditure; PPP (constant 2005 international dollar) in Iceland. Iceland's Scandinavian-type social-market economy combines a capitalist structure and free-market principles with an extensive welfare system, including generous housing subsidies. Prior to the 2008 crisis, Iceland had achieved high growth, low unemployment, and a remarkably even distribution of income. The economy depends heavily on the fishing industry, which provides 40% of export earnings and employs 5% of the work force. Iceland's economy has been diversifying into manufacturing and service industries in the last decade, with new developments in software production, biotechnology, and tourism.

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