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, 2012

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 2012's average rate (Eurostat).

Revenue
$6.67B · 44.6% of GDP
Spending
$7.05B · 47.2% of GDP
Surplus (+) or deficit (−)
-$386.98M · -2.6% of GDP

What the money is spent on

Iceland, 2012: spending by function, as a share of all spending
Iceland, 2012: spending by function, as a share of all spending
RowValue (%)ShareNote
General public services26.8$1.89B
Social protection21.5$1.52B
Health15$1.06B
Education14.6$1.03B
Economic affairs10$703.3M
Recreation, culture and religion6.3$443M
Public order and safety2.8$197.6M
Housing and community amenities1.7$119.74M
Environmental protection1.2$85.31M
Defence0.1$10.02M
General public services$1.89B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions75.8$1.43B
Executive and legislative organs, financial and fiscal affairs, external affairs10.2$193.11M
General services9.5$179.23M
General public services n.e.c.2.3$42.78M
Foreign economic aid1.4$25.57M
Basic research0.9$16.19M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Social protection$1.52B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Sickness and disability26.2$397.77M
Old age23.4$354.6M
Family and children21$318.76M
Unemployment11.9$180.39M
Housing10.4$157.26M
Social exclusion n.e.c.4.2$63.6M
Social protection n.e.c.2.8$42.14M
Survivors0.2$2.57M
R&D Social protection0$0
Health$1.06B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services66.4$700.47M
Outpatient services20.7$218.16M
Medical products, appliances and equipment9.3$97.9M
Health n.e.c.3.2$34.3M
Public health services0.4$4.37M
R&D Health0$513.92K
Education$1.03B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education43.5$448.65M
Secondary education32$329.94M
Tertiary education18.6$191.82M
Education n.e.c.2$20.43M
Subsidiary services to education2$20.17M
Education not definable by level1.8$18.89M
Post-secondary non-tertiary education0.2$1.67M
R&D Education0$128.48K
Economic affairs$703.3M
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport43.7$307.58M
Agriculture, forestry, fishing and hunting22.4$157.64M
General economic, commercial and labour affairs17$119.49M
R&D Economic affairs8.2$57.82M
Economic affairs n.e.c.3.1$21.71M
Fuel and energy2.9$20.43M
Other industries1.7$11.95M
Communication0.9$6.55M
Mining, manufacturing and construction0$128.48K
Recreation, culture and religion$443M
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 services43.4$192.21M
Cultural services36.4$161.24M
Religious and other community services9.6$42.53M
Broadcasting and publishing services9.5$41.88M
R&D Recreation, culture and religion1$4.5M
Recreation, culture and religion n.e.c.0.1$513.92K
Public order and safety$197.6M
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 services50.3$99.32M
Public order and safety n.e.c.19.8$39.19M
Law courts14.2$28.01M
Fire-protection services8.6$17.09M
Prisons7$13.75M
R&D Public order and safety0.1$256.96K
Housing and community amenities$119.74M
Housing and community amenities, in detail, as a share of it
Housing and community amenities, in detail, as a share of it
RowValue (%)ShareNote
Housing development60.2$72.08M
Community development30.5$36.49M
Street lighting7.6$9.12M
Housing and community amenities n.e.c.1.7$2.06M
Water supply0$0
R&D Housing and community amenities0$0
Environmental protection$85.31M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management64.6$55.12M
Protection of biodiversity and landscape25.9$22.1M
Environmental protection n.e.c.8.6$7.32M
R&D Environmental protection0.9$770.88K
Waste water management0$0
Pollution abatement0$0
Defence$10.02M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Civil defence71.8$7.19M
Foreign military aid26.9$2.7M
Military defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2012: revenue by kind, as a share of all revenue
Iceland, 2012: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth36.5$2.44B
Taxes on sales, production and imports30.7$2.05B
Income from property (interest, dividends, rent)16$1.06B
Social contributions7.8$518.67M
Sales, fees and charges7.2$477.69M
Other transfers received1.5$103.17M
Capital transfers and taxes received0.3$22.48M
Subsidies received0$0
Taxes on income and wealth$2.44B
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 income93$2.26B
Other taxes on wealth and income7$171.52M
Taxes on sales, production and imports$2.05B
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 tax55.8$1.14B
Not broken down, or fitting no category44.2$903.6M

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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