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, 2008

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 2008's average rate (Eurostat).

Revenue
$8.34B · 50.8% of GDP
Spending
$10.31B · 62.8% of GDP
Surplus (+) or deficit (−)
-$1.97B · -12% of GDP

What the money is spent on

Iceland, 2008: spending by function, as a share of all spending
Iceland, 2008: spending by function, as a share of all spending
RowValue (%)ShareNote
Economic affairs28.9$2.98B
General public services24$2.48B
Social protection13.9$1.43B
Education11.9$1.23B
Health11.7$1.2B
Recreation, culture and religion5.7$588.76M
Public order and safety2.1$212.97M
Environmental protection1$99.57M
Housing and community amenities0.8$77.66M
Defence0.1$9.12M
Economic affairs$2.98B
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
General economic, commercial and labour affairs69$2.05B
Transport20.5$610.97M
Agriculture, forestry, fishing and hunting5.9$176.2M
R&D Economic affairs2.1$63.83M
Fuel and energy1$28.97M
Economic affairs n.e.c.0.5$14.71M
Communication0.4$12.5M
Other industries0.4$10.88M
Mining, manufacturing and construction0.2$5.44M
General public services$2.48B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions81.1$2.01B
Executive and legislative organs, financial and fiscal affairs, external affairs9.1$224.59M
General services6.4$159.73M
Foreign economic aid1.4$35.45M
General public services n.e.c.1.2$30.59M
Basic research0.7$17.8M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Social protection$1.43B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Family and children26.8$384.76M
Sickness and disability25.7$368.44M
Old age23.7$339.75M
Social protection n.e.c.9.4$135.02M
Housing7.2$102.66M
Unemployment3.7$53.68M
Social exclusion n.e.c.3.3$47.21M
Survivors0.2$2.94M
R&D Social protection0$0
Education$1.23B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education44.2$542.43M
Secondary education30.8$377.7M
Tertiary education19.5$239.3M
Education n.e.c.1.9$22.94M
Education not definable by level1.8$21.47M
Subsidiary services to education1.6$19.27M
Post-secondary non-tertiary education0.2$2.65M
R&D Education0$147.08K
Health$1.2B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services67.1$808.2M
Outpatient services20.1$241.8M
Medical products, appliances and equipment9.9$118.99M
Health n.e.c.2.3$27.8M
Public health services0.6$7.06M
R&D Health0$588.32K
Recreation, culture and religion$588.76M
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 services45.1$265.77M
Cultural services37.2$218.86M
Religious and other community services10.4$61.48M
Broadcasting and publishing services5.5$32.65M
Recreation, culture and religion n.e.c.1$5.88M
R&D Recreation, culture and religion0.7$4.12M
Public order and safety$212.97M
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$112.81M
Public order and safety n.e.c.17.2$36.62M
Law courts14$29.86M
Fire-protection services9.1$19.41M
Prisons6.5$13.83M
R&D Public order and safety0.1$294.16K
Environmental protection$99.57M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management68.1$67.8M
Protection of biodiversity and landscape23.8$23.68M
Environmental protection n.e.c.7.4$7.35M
R&D Environmental protection0.6$588.32K
Waste water management0.1$147.08K
Pollution abatement0$0
Housing and community amenities$77.66M
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 development56.1$43.54M
Housing development31.4$24.42M
Street lighting10$7.8M
Housing and community amenities n.e.c.1.5$1.18M
Water supply1.1$882.48K
R&D Housing and community amenities0$0
Defence$9.12M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Foreign military aid100$9.12M
Military defence0$0
Civil defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2008: revenue by kind, as a share of all revenue
Iceland, 2008: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth33$2.76B
Taxes on sales, production and imports27.7$2.31B
Income from property (interest, dividends, rent)26.1$2.18B
Sales, fees and charges5.8$484.63M
Social contributions5.1$425.8M
Capital transfers and taxes received1.2$103.25M
Other transfers received1$83.98M
Subsidies received0$0
Taxes on income and wealth$2.76B
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 income97.8$2.69B
Other taxes on wealth and income2.2$61.77M
Taxes on sales, production and imports$2.31B
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 tax60$1.39B
Not broken down, or fitting no category40$925.43M

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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