Government Consumption in Iceland
Iceland's economy recorded an average growth rate of 2.3% in government consumption over the past decade. In 2022, government consumption growth was 2.2%.
Iceland Government Consumption Chart
Note: This chart displays Government Consumption (ann. var. %) for Iceland from 2017 to 2023.
Source: Macrobond.
Iceland Government Consumption Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Government Consumption (ann. var. %) | 3.9 | 5.2 | 2.3 | 2.4 | 1.8 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Icelandic government consumption projections for the next ten years from a panel of 7 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable government consumption forecast available for Icelandic government consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Icelandic government consumption projections.
Want to get access to the full dataset of Icelandic government consumption forecasts? Send an email to info@focus-economics.com.