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, 2007

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 2007's average rate (Eurostat).

Revenue
$10.95B · 49.8% of GDP
Spending
$9.72B · 44.2% of GDP
Surplus (+) or deficit (−)
$1.22B · 5.6% of GDP

What the money is spent on

Iceland, 2007: spending by function, as a share of all spending
Iceland, 2007: spending by function, as a share of all spending
RowValue (%)ShareNote
General public services22.3$2.17B
Social protection18$1.75B
Education16.8$1.63B
Health16.7$1.62B
Economic affairs12.7$1.24B
Recreation, culture and religion8$780.77M
Public order and safety3.1$297.81M
Environmental protection1.3$128.42M
Housing and community amenities1$94.43M
Defence0.1$12.61M
General public services$2.17B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions71.9$1.56B
Executive and legislative organs, financial and fiscal affairs, external affairs13.1$284.38M
General services10.6$230.93M
General public services n.e.c.1.9$40.43M
Foreign economic aid1.4$30.7M
Basic research1.1$23.44M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Social protection$1.75B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Family and children30.2$527.92M
Sickness and disability26.2$457.2M
Old age26.1$456.1M
Housing7.1$123.89M
Social protection n.e.c.4.4$76.2M
Social exclusion n.e.c.3.3$56.88M
Unemployment2.6$44.68M
Survivors0.2$3.97M
R&D Social protection0$0
Education$1.63B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education44.2$721.29M
Secondary education30.9$504.07M
Tertiary education19.5$319.05M
Education n.e.c.2.4$39.06M
Subsidiary services to education1.5$25.08M
Education not definable by level1.2$19.87M
Post-secondary non-tertiary education0.2$2.74M
R&D Education0.1$2.06M
Health$1.62B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services68.3$1.11B
Outpatient services19.7$319.46M
Medical products, appliances and equipment8.8$142.39M
Health n.e.c.2.4$39.47M
Public health services0.7$11.1M
R&D Health0.1$959.35K
Economic affairs$1.24B
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport58$717.46M
Agriculture, forestry, fishing and hunting18.2$225.58M
General economic, commercial and labour affairs8.8$108.68M
R&D Economic affairs6.1$75.65M
Fuel and energy3.5$43.17M
Communication1.8$22.89M
Economic affairs n.e.c.1.6$19.46M
Other industries1.1$13.57M
Mining, manufacturing and construction0.9$10.83M
Recreation, culture and religion$780.77M
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 services48.3$376.75M
Cultural services33.7$263.14M
Religious and other community services11.1$86.48M
Broadcasting and publishing services5.8$45.5M
R&D Recreation, culture and religion0.7$5.34M
Recreation, culture and religion n.e.c.0.4$3.43M
Public order and safety$297.81M
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 services54.1$161.03M
Public order and safety n.e.c.15.7$46.73M
Law courts14.6$43.44M
Fire-protection services9.1$27.14M
Prisons6.4$18.91M
R&D Public order and safety0.2$548.2K
Environmental protection$128.42M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management69.5$89.22M
Protection of biodiversity and landscape22$28.23M
Environmental protection n.e.c.7.7$9.87M
R&D Environmental protection0.6$822.3K
Waste water management0.2$274.1K
Pollution abatement0$0
Housing and community amenities$94.43M
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 development50.7$47.83M
Housing development34.3$32.34M
Street lighting11$10.42M
Housing and community amenities n.e.c.3.3$3.15M
Water supply0.7$685.25K
R&D Housing and community amenities0$0
Defence$12.61M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Foreign military aid100$12.61M
Military defence0$0
Civil defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2007: revenue by kind, as a share of all revenue
Iceland, 2007: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth35.3$3.86B
Taxes on sales, production and imports33.1$3.63B
Income from property (interest, dividends, rent)16.6$1.82B
Sales, fees and charges5.9$648.93M
Social contributions5.7$619.19M
Capital transfers and taxes received2.3$252.17M
Other transfers received1.1$116.9M
Subsidies received0$0
Taxes on income and wealth$3.86B
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 income97.7$3.78B
Other taxes on wealth and income2.3$88.12M
Taxes on sales, production and imports$3.63B
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$2.17B
Not broken down, or fitting no category40.2$1.46B

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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