Public budgets

Iceland: public budget

What Iceland's government raised and what it spent it on, from the figures its own budget laws or a statistics office publish. Solon places every figure on the same international classification, so it can be compared with any other place.

General government, 2003

Outturn: what came in and was spent

General government: central, state and local government and social security funds together, consolidated so that money passed between them is counted once, as Eurostat's government finance statistics (ESA 2010) count it.

Amounts in USD, converted from EUR at 2003's average rate (Eurostat).

Revenue
$5.22B · 45% of GDP
Spending
$5.48B · 47.3% of GDP
Surplus (+) or deficit (−)
-$260.74M · -2.3% of GDP

What the money is spent on

Iceland, 2003: spending by function, as a share of all spending
Iceland, 2003: spending by function, as a share of all spending
RowValue (%)ShareNote
General public services19.8$1.08B
Social protection19.6$1.07B
Health17.9$978.49M
Education16.4$897.49M
Economic affairs13.6$742.86M
Recreation, culture and religion7.3$400.33M
Public order and safety3.1$167.87M
Environmental protection1.4$76.36M
Housing and community amenities1$55.66M
Defence0.1$4.52M
General public services$1.08B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions69.4$751.57M
Executive and legislative organs, financial and fiscal affairs, external affairs17.3$186.87M
General services8.8$95.25M
General public services n.e.c.2.7$28.85M
Basic research1.1$12.33M
Foreign economic aid0.7$7.92M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Social protection$1.07B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Family and children27.7$297.51M
Old age26.5$285.18M
Sickness and disability23.1$247.96M
Housing9.5$101.81M
Unemployment5.4$58.37M
Social protection n.e.c.5$53.28M
Social exclusion n.e.c.2.5$26.92M
Survivors0.3$3.05M
R&D Social protection0$0
Health$978.49M
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services68.3$667.97M
Outpatient services18.9$184.95M
Medical products, appliances and equipment9.8$96.15M
Health n.e.c.2.4$23.64M
Public health services0.5$5.32M
R&D Health0.1$565.6K
Education$897.49M
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education42.9$385.29M
Secondary education33.5$300.79M
Tertiary education18.3$163.8M
Education n.e.c.2.6$22.96M
Subsidiary services to education1.4$12.78M
Education not definable by level1.1$9.95M
Post-secondary non-tertiary education0.2$1.92M
R&D Education0$0
Economic affairs$742.86M
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport51.4$381.78M
Agriculture, forestry, fishing and hunting22.4$166.74M
General economic, commercial and labour affairs9.1$67.76M
R&D Economic affairs8.6$63.69M
Fuel and energy4$29.86M
Economic affairs n.e.c.1.4$10.75M
Other industries1.4$10.63M
Mining, manufacturing and construction1.2$8.82M
Communication0.4$2.71M
Recreation, culture and religion$400.33M
Recreation, culture and religion, in detail, as a share of it
Recreation, culture and religion, in detail, as a share of it
RowValue (%)ShareNote
Cultural services41.8$167.19M
Recreational and sporting services37.9$151.69M
Religious and other community services13.6$54.64M
Broadcasting and publishing services6.1$24.32M
R&D Recreation, culture and religion0.5$1.92M
Recreation, culture and religion n.e.c.0.2$678.72K
Public order and safety$167.87M
Public order and safety, in detail, as a share of it
Public order and safety, in detail, as a share of it
RowValue (%)ShareNote
Police services56.3$94.46M
Law courts14.6$24.55M
Fire-protection services13.5$22.62M
Public order and safety n.e.c.9.5$15.95M
Prisons6.1$10.18M
R&D Public order and safety0$0
Environmental protection$76.36M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management64.4$49.21M
Protection of biodiversity and landscape25.2$19.23M
Environmental protection n.e.c.9.2$7.01M
R&D Environmental protection1$791.84K
Waste water management0.1$113.12K
Pollution abatement0$0
Housing and community amenities$55.66M
Housing and community amenities, in detail, as a share of it
Housing and community amenities, in detail, as a share of it
RowValue (%)ShareNote
Community development53.3$29.64M
Housing development37.6$20.93M
Street lighting7.5$4.19M
Housing and community amenities n.e.c.1.6$904.96K
Water supply0$0
R&D Housing and community amenities0$0
Defence$4.52M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Foreign military aid100$4.52M
Military defence0$0
Civil defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2003: revenue by kind, as a share of all revenue
Iceland, 2003: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth35.3$1.85B
Taxes on sales, production and imports34.8$1.81B
Income from property (interest, dividends, rent)13.6$708.92M
Sales, fees and charges7.7$399.99M
Social contributions6.5$340.15M
Other transfers received1.2$60.63M
Capital transfers and taxes received1$50M
Subsidies received0$0
Taxes on income and wealth$1.85B
Taxes on income and wealth, in detail, as a share of it
Taxes on income and wealth, in detail, as a share of it
RowValue (%)ShareNote
Taxes on income95.2$1.76B
Other taxes on wealth and income4.8$88.57M
Taxes on sales, production and imports$1.81B
Taxes on sales, production and imports, in detail, as a share of it
Taxes on sales, production and imports, in detail, as a share of it
RowValue (%)ShareNote
Value added tax58.9$1.07B
Not broken down, or fitting no category41.1$745.91M

Over the years

39.7 % of GDPRevenue · 1,99846.1 % of GDPRevenue · 1,99945.7 % of GDPRevenue · 2,00046.7 % of GDPRevenue · 2,00142.8 % of GDPRevenue · 2,00245 % of GDPRevenue · 2,00346.5 % of GDPRevenue · 2,00449.2 % of GDPRevenue · 2,00550.7 % of GDPRevenue · 2,00649.8 % of GDPRevenue · 2,00750.8 % of GDPRevenue · 2,00844.9 % of GDPRevenue · 2,00941.6 % of GDPRevenue · 2,01043.6 % of GDPRevenue · 2,01144.6 % of GDPRevenue · 2,01244.7 % of GDPRevenue · 2,01345.9 % of GDPRevenue · 2,01442.9 % of GDPRevenue · 2,01558.5 % of GDPRevenue · 2,01645.1 % of GDPRevenue · 2,01744.4 % of GDPRevenue · 2,01841.6 % of GDPRevenue · 2,01941.6 % of GDPRevenue · 2,02040.7 % of GDPRevenue · 2,02142.4 % of GDPRevenue · 2,02243.1 % of GDPRevenue · 2,02343 % of GDPRevenue · 2,02443 % of GDPRevenue · 2,02540.3 % of GDPSpending · 1,99844.8 % of GDPSpending · 1,99944.3 % of GDPSpending · 2,00047 % of GDPSpending · 2,00145 % of GDPSpending · 2,00247.3 % of GDPSpending · 2,00346.2 % of GDPSpending · 2,00444.2 % of GDPSpending · 2,00544.3 % of GDPSpending · 2,00644.2 % of GDPSpending · 2,00762.8 % of GDPSpending · 2,00853.4 % of GDPSpending · 2,00948.2 % of GDPSpending · 2,01050 % of GDPSpending · 2,01147.2 % of GDPSpending · 2,01245.6 % of GDPSpending · 2,01345.3 % of GDPSpending · 2,01443 % of GDPSpending · 2,01545.8 % of GDPSpending · 2,01643.8 % of GDPSpending · 2,01743.4 % of GDPSpending · 2,01843 % of GDPSpending · 2,01950.4 % of GDPSpending · 2,02048.7 % of GDPSpending · 2,02146.2 % of GDPSpending · 2,02245.2 % of GDPSpending · 2,02347.1 % of GDPSpending · 2,024
Iceland: revenue and spending, 1998–2025
Iceland: revenue and spending, 1998–2025
PeriodRevenue (% of GDP)Spending (% of GDP)
1,99839.740.3
1,99946.144.8
2,00045.744.3
2,00146.747
2,00242.845
2,0034547.3
2,00446.546.2
2,00549.244.2
2,00650.744.3
2,00749.844.2
2,00850.862.8
2,00944.953.4
2,01041.648.2
2,01143.650
2,01244.647.2
2,01344.745.6
2,01445.945.3
2,01542.943
2,01658.545.8
2,01745.143.8
2,01844.443.4
2,01941.643
2,02041.650.4
2,02140.748.7
2,02242.446.2
2,02343.145.2
2,0244347.1
2,02543
Where these figures come from

Series read from Eurostat, government finance statistics (gov_10a_main, gov_10a_exp) on 2026-11-11.

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