Iceland - Goods and services expense (% of expense)

Goods and services expense (% of expense) in Iceland was 21.17 as of 2019. Its highest value over the past 47 years was 24.71 in 1987, while its lowest value was 10.26 in 1974.

Definition: 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.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

See also:

Year Value
1972 11.56
1973 10.75
1974 10.26
1975 10.73
1976 13.19
1977 11.72
1978 11.40
1979 11.04
1980 12.50
1981 12.44
1987 24.71
1988 22.82
1989 21.04
1990 22.46
1991 21.76
1992 21.89
1993 22.38
1994 22.59
1995 22.73
1996 22.56
1997 23.09
1998 20.76
1999 22.74
2000 24.25
2001 23.86
2002 24.01
2003 23.25
2004 24.12
2005 22.88
2006 23.11
2007 22.83
2008 15.04
2009 18.88
2010 20.35
2011 20.08
2012 20.56
2013 20.54
2014 19.95
2015 20.26
2016 17.87
2017 20.49
2018 21.04
2019 21.17

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.

Aggregation method: Median

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance