Government spending in Iceland was last recorded at 46.7 percent of GDP in 2024 . Government Spending to GDP in Iceland averaged 43.67 percent of GDP from 1980 until 2024, reaching an all time high of 62.80 percent of GDP in 2008 and a record low of 34.10 percent of GDP in 1980. source: Statistics Iceland
Government Spending to GDP in Iceland is expected to reach 46.50 percent of GDP by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Government Spending to GDP is projected to trend around 46.20 percent of GDP in 2026 and 46.00 percent of GDP in 2027, according to our econometric models.