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, 2004

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 2004's average rate (Eurostat).

Revenue
$6.51B · 46.5% of GDP
Spending
$6.47B · 46.2% of GDP
Surplus (+) or deficit (−)
$45.9M · 0.3% of GDP

What the money is spent on

Iceland, 2004: spending by function, as a share of all spending
Iceland, 2004: spending by function, as a share of all spending
RowValue (%)ShareNote
General public services20.1$1.3B
Social protection19.5$1.26B
Health17.4$1.13B
Education16.4$1.06B
Economic affairs13.4$867.87M
Recreation, culture and religion7.6$489.72M
Public order and safety3$197.28M
Environmental protection1.4$92.79M
Housing and community amenities1$66.42M
Defence0.1$5.85M
General public services$1.3B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions71$924.34M
Executive and legislative organs, financial and fiscal affairs, external affairs16$208.73M
General services8.6$111.33M
General public services n.e.c.2.4$30.72M
Basic research1.2$15.55M
Foreign economic aid0.9$11.07M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Social protection$1.26B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Family and children27.6$348.42M
Old age27.1$341.7M
Sickness and disability24.5$308.36M
Housing8.7$109.96M
Unemployment5.4$67.54M
Social protection n.e.c.4$50.13M
Social exclusion n.e.c.2.4$30.72M
Survivors0.3$3.36M
R&D Social protection0$0
Health$1.13B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services67.3$757.66M
Outpatient services19.7$222.16M
Medical products, appliances and equipment10$112.45M
Health n.e.c.2.3$26.25M
Public health services0.6$6.47M
R&D Health0.1$621.95K
Education$1.06B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education42.9$454.89M
Secondary education33.8$358.87M
Tertiary education17.4$184.84M
Education n.e.c.3.2$34.46M
Subsidiary services to education1.3$14.06M
Education not definable by level1.1$11.94M
Post-secondary non-tertiary education0.2$2.11M
R&D Education0$0
Economic affairs$867.87M
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport54.7$474.8M
Agriculture, forestry, fishing and hunting20.4$176.88M
R&D Economic affairs9.2$79.98M
General economic, commercial and labour affairs8.9$77.37M
Fuel and energy2.7$23.14M
Other industries1.4$11.82M
Economic affairs n.e.c.1.3$11.57M
Mining, manufacturing and construction1$8.96M
Communication0.4$3.48M
Recreation, culture and religion$489.72M
Recreation, culture and religion, in detail, as a share of it
Recreation, culture and religion, in detail, as a share of it
RowValue (%)ShareNote
Recreational and sporting services41.5$203.25M
Cultural services37.9$185.59M
Religious and other community services12.8$62.69M
Broadcasting and publishing services7$34.08M
R&D Recreation, culture and religion0.4$2.11M
Recreation, culture and religion n.e.c.0.4$2.11M
Public order and safety$197.28M
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 services53.4$105.36M
Public order and safety n.e.c.15.2$29.98M
Law courts14.4$28.49M
Fire-protection services11$21.77M
Prisons5.9$11.57M
R&D Public order and safety0$0
Environmental protection$92.79M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management65.5$60.83M
Protection of biodiversity and landscape23.9$22.14M
Environmental protection n.e.c.9.5$8.83M
R&D Environmental protection0.8$746.34K
Waste water management0.1$124.39K
Pollution abatement0$0
Housing and community amenities$66.42M
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 development54.9$36.45M
Housing development36$23.88M
Street lighting7.3$4.85M
Housing and community amenities n.e.c.1.7$1.12M
Water supply0.2$124.39K
R&D Housing and community amenities0$0
Defence$5.85M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Foreign military aid100$5.85M
Military defence0$0
Civil defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2004: revenue by kind, as a share of all revenue
Iceland, 2004: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on sales, production and imports35.5$2.32B
Taxes on income and wealth34.5$2.24B
Income from property (interest, dividends, rent)13.7$893.62M
Sales, fees and charges7.4$485.25M
Social contributions6.2$404.89M
Other transfers received1.4$91.43M
Capital transfers and taxes received1.2$79.49M
Subsidies received0$0
Taxes on sales, production and imports$2.32B
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 tax59.8$1.38B
Not broken down, or fitting no category40.2$931.31M
Taxes on income and wealth$2.24B
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$2.14B
Other taxes on wealth and income4.8$106.98M

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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