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, 2017

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 2017's average rate (Eurostat).

Revenue
$11.31B · 45.1% of GDP
Spending
$10.99B · 43.8% of GDP
Surplus (+) or deficit (−)
$320.27M · 1.3% of GDP

What the money is spent on

Iceland, 2017: spending by function, as a share of all spending
Iceland, 2017: spending by function, as a share of all spending
RowValue (%)ShareNote
General public services22.1$2.42B
Social protection21.8$2.4B
Health17$1.87B
Education15.8$1.74B
Economic affairs10.5$1.15B
Recreation, culture and religion6.6$730.01M
Public order and safety3.2$350.32M
Housing and community amenities1.4$157.93M
Environmental protection1.4$153.3M
Defence0.2$20.33M
General public services$2.42B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions59.6$1.45B
General public services n.e.c.15.8$383.08M
Executive and legislative organs, financial and fiscal affairs, external affairs12.1$292.71M
General services10$241.42M
Foreign economic aid1.6$37.73M
Basic research1$24.51M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Social protection$2.4B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Old age31.1$746.05M
Sickness and disability30.2$724.59M
Family and children20.7$496.96M
Social exclusion n.e.c.4.9$117.38M
Unemployment4.8$116.02M
Housing4.3$102.24M
Social protection n.e.c.3.8$91.51M
Survivors0.1$3.39M
R&D Social protection0$0
Health$1.87B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services66.7$1.25B
Outpatient services23.7$443.41M
Medical products, appliances and equipment6.4$119.75M
Health n.e.c.2.8$52.64M
Public health services0.3$5.65M
R&D Health0$790.79K
Education$1.74B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education44.4$770.68M
Secondary education31.4$545.87M
Tertiary education18.2$316.88M
Subsidiary services to education2.6$45.3M
Education n.e.c.1.7$29.03M
Education not definable by level1.6$27.9M
Post-secondary non-tertiary education0.1$903.76K
R&D Education0$112.97K
Economic affairs$1.15B
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport53.8$620.09M
Agriculture, forestry, fishing and hunting16.5$190.58M
General economic, commercial and labour affairs10.4$120.09M
R&D Economic affairs8.1$93.65M
Economic affairs n.e.c.4.6$52.98M
Fuel and energy2.9$33.44M
Other industries1.9$22.14M
Communication1$11.97M
Mining, manufacturing and construction0.6$6.78M
Recreation, culture and religion$730.01M
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 services48.1$351.34M
Cultural services35.2$256.78M
Religious and other community services8.8$64.28M
Broadcasting and publishing services7.1$51.85M
R&D Recreation, culture and religion0.8$5.76M
Recreation, culture and religion n.e.c.0$0
Public order and safety$350.32M
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 services50.8$178.04M
Public order and safety n.e.c.20.9$73.09M
Law courts16.3$57.28M
Fire-protection services6.5$22.82M
Prisons5.4$18.98M
R&D Public order and safety0$0
Housing and community amenities$157.93M
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 development52.8$83.37M
Housing development39.9$63.04M
Street lighting6.5$10.28M
Housing and community amenities n.e.c.0.9$1.36M
Water supply0$0
R&D Housing and community amenities0$0
Environmental protection$153.3M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management58.7$90.04M
Protection of biodiversity and landscape33.2$50.95M
Environmental protection n.e.c.7.4$11.3M
R&D Environmental protection0.7$1.02M
Waste water management0$0
Pollution abatement0$0
Defence$20.33M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Civil defence92.2$18.75M
Foreign military aid7.8$1.58M
Military defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2017: revenue by kind, as a share of all revenue
Iceland, 2017: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth41.4$4.68B
Taxes on sales, production and imports32.3$3.65B
Income from property (interest, dividends, rent)9.5$1.07B
Social contributions7.4$840.16M
Sales, fees and charges6.6$747.52M
Other transfers received1.5$167.42M
Capital transfers and taxes received1.3$151.27M
Subsidies received0$0
Taxes on income and wealth$4.68B
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 income97.2$4.55B
Other taxes on wealth and income2.8$128.9M
Taxes on sales, production and imports$3.65B
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$2.19B
Not broken down, or fitting no category40$1.46B

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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