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, 2014

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 2014's average rate (Eurostat).

Revenue
$8.31B · 45.9% of GDP
Spending
$8.2B · 45.3% of GDP
Surplus (+) or deficit (−)
$106.94M · 0.6% of GDP

What the money is spent on

Iceland, 2014: spending by function, as a share of all spending
Iceland, 2014: spending by function, as a share of all spending
RowValue (%)ShareNote
General public services22$1.8B
Social protection21.4$1.75B
Health15.9$1.31B
Education15.2$1.25B
Economic affairs13.5$1.11B
Recreation, culture and religion6.3$520.11M
Public order and safety3$248.7M
Environmental protection1.3$110.27M
Housing and community amenities1.1$88.48M
Defence0.2$14.48M
General public services$1.8B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions70.6$1.27B
Executive and legislative organs, financial and fiscal affairs, external affairs12.1$217.48M
General services11.2$201.4M
General public services n.e.c.2.9$52.21M
Foreign economic aid2.2$39.19M
Basic research1.1$19.79M
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
Sickness and disability28.8$504.7M
Old age25.3$443.98M
Family and children22.9$400.81M
Housing7.1$124.75M
Unemployment7.1$124.48M
Social exclusion n.e.c.4.5$79.05M
Social protection n.e.c.4.1$71.47M
Survivors0.2$2.92M
R&D Social protection0$0
Health$1.31B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services66.9$873.49M
Outpatient services21.8$284.43M
Medical products, appliances and equipment7.9$102.83M
Health n.e.c.3$39.32M
Public health services0.4$4.78M
R&D Health0$531.4K
Education$1.25B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education44.9$561.03M
Secondary education31.8$397.22M
Tertiary education17.7$221.2M
Education n.e.c.2$25.11M
Subsidiary services to education1.9$23.25M
Education not definable by level1.6$19.93M
Post-secondary non-tertiary education0.1$1.86M
R&D Education0$398.55K
Economic affairs$1.11B
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 affairs37.4$414.23M
Transport35.6$394.96M
Agriculture, forestry, fishing and hunting14$155.17M
R&D Economic affairs5.3$59.12M
Economic affairs n.e.c.2.9$32.02M
Fuel and energy2.4$26.97M
Other industries1.4$15.94M
Communication0.9$10.23M
Mining, manufacturing and construction0$265.7K
Recreation, culture and religion$520.11M
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 services45.7$237.54M
Cultural services36.6$190.37M
Religious and other community services9.3$48.62M
Broadcasting and publishing services7.6$39.32M
R&D Recreation, culture and religion0.7$3.59M
Recreation, culture and religion n.e.c.0.2$797.1K
Public order and safety$248.7M
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 services45$111.99M
Public order and safety n.e.c.23.4$58.19M
Law courts14.5$36.14M
Fire-protection services8.7$21.52M
Prisons7.9$19.66M
R&D Public order and safety0.4$1.06M
Environmental protection$110.27M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management66$72.8M
Protection of biodiversity and landscape26$28.7M
Environmental protection n.e.c.7.5$8.24M
R&D Environmental protection0.6$664.25K
Waste water management0$0
Pollution abatement0$0
Housing and community amenities$88.48M
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 development49.7$43.97M
Housing development47.4$41.98M
Housing and community amenities n.e.c.2.1$1.86M
Street lighting0.9$797.1K
Water supply0$0
R&D Housing and community amenities0$0
Defence$14.48M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Civil defence75.2$10.89M
Foreign military aid24.8$3.59M
Military defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2014: revenue by kind, as a share of all revenue
Iceland, 2014: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth39.8$3.31B
Taxes on sales, production and imports32.5$2.7B
Income from property (interest, dividends, rent)11.4$947.49M
Social contributions7.6$629.97M
Sales, fees and charges6.7$560.36M
Other transfers received1.5$122.89M
Capital transfers and taxes received0.4$35.74M
Subsidies received0$0
Taxes on income and wealth$3.31B
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 income93.9$3.11B
Other taxes on wealth and income6.1$200.2M
Taxes on sales, production and imports$2.7B
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 tax51.1$1.38B
Not broken down, or fitting no category48.9$1.32B

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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