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, 2016

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 2016's average rate (Eurostat).

Revenue
$12.36B · 58.5% of GDP
Spending
$9.68B · 45.8% of GDP
Surplus (+) or deficit (−)
$2.68B · 12.7% of GDP

What the money is spent on

Iceland, 2016: spending by function, as a share of all spending
Iceland, 2016: spending by function, as a share of all spending
RowValue (%)ShareNote
Social protection28.3$2.74B
General public services19$1.83B
Health15.8$1.53B
Education14.5$1.41B
Economic affairs10.6$1.02B
Recreation, culture and religion6.3$606.14M
Public order and safety2.8$271.63M
Housing and community amenities1.4$138.58M
Environmental protection1.2$115.34M
Defence0.1$12.62M
Social protection$2.74B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Old age50.8$1.39B
Sickness and disability20.7$566.4M
Family and children15.2$417.41M
Housing3.6$97.85M
Unemployment3.3$91.43M
Social exclusion n.e.c.3.3$90.1M
Social protection n.e.c.3$82.46M
Survivors0.1$2.88M
R&D Social protection0$0
General public services$1.83B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions69.9$1.28B
Executive and legislative organs, financial and fiscal affairs, external affairs13.1$240.64M
General services12.2$223.59M
Foreign economic aid1.9$34.65M
General public services n.e.c.1.9$34.65M
Basic research1$19.26M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Health$1.53B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services67.4$1.03B
Outpatient services22.7$346.35M
Medical products, appliances and equipment6.8$104.49M
Health n.e.c.2.7$41.62M
Public health services0.4$5.42M
R&D Health0$664.14K
Education$1.41B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education43.8$615.55M
Secondary education31.6$443.76M
Tertiary education18.5$260.23M
Subsidiary services to education2.5$35.09M
Education n.e.c.1.9$26.23M
Education not definable by level1.7$23.8M
Post-secondary non-tertiary education0.1$1.66M
R&D Education0$110.69K
Economic affairs$1.02B
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport43.4$443.2M
General economic, commercial and labour affairs22.6$230.79M
Agriculture, forestry, fishing and hunting15.6$159.39M
R&D Economic affairs7.3$74.94M
Economic affairs n.e.c.3.6$37.19M
Fuel and energy3.6$36.86M
Other industries1.8$18.6M
Communication1.1$11.51M
Mining, manufacturing and construction0.9$8.97M
Recreation, culture and religion$606.14M
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 services47.1$285.69M
Cultural services35.2$213.3M
Religious and other community services9.2$55.79M
Broadcasting and publishing services7.8$47.26M
R&D Recreation, culture and religion0.7$3.98M
Recreation, culture and religion n.e.c.0$0
Public order and safety$271.63M
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 services51.2$139.14M
Public order and safety n.e.c.18.3$49.7M
Law courts16.6$45.16M
Prisons7.1$19.37M
Fire-protection services6.7$18.26M
R&D Public order and safety0$0
Housing and community amenities$138.58M
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 development47$65.2M
Community development44.6$61.77M
Street lighting7.5$10.4M
Housing and community amenities n.e.c.0.9$1.22M
Water supply0$0
R&D Housing and community amenities0$0
Environmental protection$115.34M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management61.3$70.73M
Protection of biodiversity and landscape29.5$33.98M
Environmental protection n.e.c.8.5$9.85M
R&D Environmental protection0.7$774.83K
Waste water management0$0
Pollution abatement0$0
Defence$12.62M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Civil defence72.8$9.19M
Foreign military aid27.2$3.43M
Military defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2016: revenue by kind, as a share of all revenue
Iceland, 2016: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth29.9$3.69B
Capital transfers and taxes received26.4$3.26B
Taxes on sales, production and imports23.2$2.86B
Income from property (interest, dividends, rent)8.7$1.07B
Social contributions5.7$707.31M
Sales, fees and charges5$621.64M
Other transfers received1.1$141.13M
Subsidies received0$0
Taxes on income and wealth$3.69B
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 income97.1$3.58B
Other taxes on wealth and income2.9$107.92M
Taxes on sales, production and imports$2.86B
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 tax59.5$1.7B
Not broken down, or fitting no category40.5$1.16B

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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