Iceland: Household consumption, percent of GDP

* indicates monthly or quarterly data series
 Iceland

Household consumption as percent of GDP

 Latest value 49.99
 Year 2023
 Measure percent
 Data availability 1970 - 2023
 Average 55.84
 Min - Max 49.27 - 61.79
 Source The World Bank
The latest value from 2023 is 49.99 percent, a decline from 50.27 percent in 2022. In comparison, the world average is 63.66 percent, based on data from 131 countries. Historically, the average for Iceland from 1970 to 2023 is 55.84 percent. The minimum value, 49.27 percent, was reached in 2016 while the maximum of 61.79 percent was recorded in 1987. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Iceland - Household consumption, percent of GDP - Recent values chart

Historical series
Iceland - Household consumption, percent of GDP - historical chart - 1970-2023




Definition: 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. This item also includes any statistical discrepancy in the use of resources relative to the supply of resources.

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 Related indicators Latest Reference Measure
 Capital investment, percent of GDP 24.39 2023 percent
 Capital investment, in dollars 7.57 2023 billion U.S. dollars
 Household consumption, percent of GDP 49.99 2023 percent
 Household consumption, in dollars 15.51 2023 billion U.S. dollars
 Household consumption 542.81 Q3/2024 billion
 Consumption as percent of GDP 45.27 Q3/2024 percent
 Consumption growth 6.40 Q3/2024 percent
 Investment 294.47 Q3/2024 billion
 Investment as percent of GDP 24.56 Q3/2024 percent
 Investment growth 9.60 Q3/2024 percent
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