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, 2015

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 2015's average rate (Eurostat).

Revenue
$7.6B · 42.9% of GDP
Spending
$7.62B · 43% of GDP
Surplus (+) or deficit (−)
-$25.63M · -0.1% of GDP

What the money is spent on

Iceland, 2015: spending by function, as a share of all spending
Iceland, 2015: spending by function, as a share of all spending
RowValue (%)ShareNote
General public services22.3$1.7B
Social protection20.9$1.6B
Health16.5$1.26B
Education15.7$1.2B
Economic affairs11.5$876.73M
Recreation, culture and religion7$535M
Public order and safety3.4$255.52M
Environmental protection1.3$97.19M
Housing and community amenities1.2$90.54M
Defence0.1$10.21M
General public services$1.7B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions71.2$1.21B
Executive and legislative organs, financial and fiscal affairs, external affairs12.3$209.03M
General services11.1$189.39M
General public services n.e.c.2.2$38.06M
Foreign economic aid2.2$36.61M
Basic research1$16.86M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Social protection$1.6B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Sickness and disability29.3$468.1M
Old age26.4$421.28M
Family and children22.5$359.26M
Housing6.5$104.29M
Unemployment5.9$93.64M
Social protection n.e.c.4.8$76.67M
Social exclusion n.e.c.4.4$69.9M
Survivors0.2$2.55M
R&D Social protection0$0
Health$1.26B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services67.3$849.54M
Outpatient services21.9$276.6M
Medical products, appliances and equipment7.3$92.64M
Health n.e.c.3$37.5M
Public health services0.4$4.44M
R&D Health0$554.75K
Education$1.2B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education44.2$529.01M
Secondary education32.2$385.44M
Tertiary education18.1$216.24M
Subsidiary services to education2$23.74M
Education n.e.c.1.9$22.86M
Education not definable by level1.6$18.64M
Post-secondary non-tertiary education0.1$1.44M
R&D Education0$110.95K
Economic affairs$876.73M
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport42.2$369.69M
General economic, commercial and labour affairs26.8$234.77M
Agriculture, forestry, fishing and hunting16$140.68M
R&D Economic affairs7$61.24M
Fuel and energy3.1$27.4M
Economic affairs n.e.c.2.4$20.97M
Other industries1.4$12.09M
Communication1.1$9.76M
Mining, manufacturing and construction0$332.85K
Recreation, culture and religion$535M
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$241.54M
Cultural services34.8$186.17M
Broadcasting and publishing services10.5$56.25M
Religious and other community services8.8$47.15M
R&D Recreation, culture and religion0.6$3.44M
Recreation, culture and religion n.e.c.0.1$332.85K
Public order and safety$255.52M
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 services46.9$119.94M
Public order and safety n.e.c.21.7$55.36M
Law courts14.9$38.06M
Prisons8.4$21.41M
Fire-protection services7.6$19.53M
R&D Public order and safety0.5$1.22M
Environmental protection$97.19M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management61.5$59.8M
Protection of biodiversity and landscape29.7$28.85M
Environmental protection n.e.c.8.1$7.88M
R&D Environmental protection0.7$665.7K
Waste water management0$0
Pollution abatement0$0
Housing and community amenities$90.54M
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 development56.9$51.48M
Housing development31.6$28.63M
Street lighting10.2$9.21M
Housing and community amenities n.e.c.1.3$1.22M
Water supply0$0
R&D Housing and community amenities0$0
Defence$10.21M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Civil defence70.7$7.21M
Foreign military aid28.3$2.88M
Military defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2015: revenue by kind, as a share of all revenue
Iceland, 2015: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth39.5$3B
Taxes on sales, production and imports33.5$2.54B
Income from property (interest, dividends, rent)9.7$739.04M
Social contributions8$604.46M
Sales, fees and charges7.3$555.53M
Other transfers received1.4$109.17M
Capital transfers and taxes received0.6$45.05M
Subsidies received0$0
Taxes on income and wealth$3B
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 income96.7$2.9B
Other taxes on wealth and income3.3$99.41M
Taxes on sales, production and imports$2.54B
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 tax54.8$1.39B
Not broken down, or fitting no category45.2$1.15B

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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