Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Iceland
KGPPPGISA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.98
Year-over-Year Change
33.00%
Date Range
1/1/1950 - 1/1/2010
Summary
The Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Iceland measures the share of a country's economic output that is attributable to government spending. This metric is critical for economists and policymakers to assess a nation's fiscal policy and economic conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This indicator represents the portion of Iceland's GDP that is accounted for by government consumption expenditures, adjusting for differences in purchasing power across countries. It provides insight into the role of the public sector in the Icelandic economy and can inform analyses of economic performance, fiscal policy, and international competitiveness.
Methodology
The data is calculated by the World Bank using national accounts and purchasing power parity (PPP) conversion factors.
Historical Context
Governments and analysts use this metric to evaluate Iceland's economic structure and the scope of public sector activity relative to the private sector.
Key Facts
- Iceland's government consumption share of GDP was 23.9% in 2020.
- This indicator has remained relatively stable in Iceland over the past decade.
- Iceland's government consumption share is lower than the OECD average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the portion of Iceland's GDP that is accounted for by government consumption expenditures, adjusting for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the role of the public sector in the Icelandic economy and can inform analyses of economic performance, fiscal policy, and international competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and purchasing power parity (PPP) conversion factors.
Q: How is this trend used in economic policy?
A: Governments and analysts use this metric to evaluate Iceland's economic structure and the scope of public sector activity relative to the private sector.
Q: Are there update delays or limitations?
A: The data is subject to the timely release of national accounts and PPP information by the World Bank.
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Citation
U.S. Federal Reserve, Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Iceland (KGPPPGISA156NUPN), retrieved from FRED.