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, 2018

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 2018's average rate (Eurostat).

Revenue
$11.85B · 44.4% of GDP
Spending
$11.57B · 43.4% of GDP
Surplus (+) or deficit (−)
$278.6M · 1% of GDP

What the money is spent on

Iceland, 2018: spending by function, as a share of all spending
Iceland, 2018: spending by function, as a share of all spending
RowValue (%)ShareNote
Social protection22.4$2.59B
General public services18$2.08B
Health17.6$2.04B
Education16.1$1.87B
Economic affairs12.5$1.44B
Recreation, culture and religion7$812.06M
Public order and safety3.2$366.82M
Environmental protection1.5$175.38M
Housing and community amenities1.5$172.07M
Defence0.3$30.47M
Social protection$2.59B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Old age30.9$799.54M
Sickness and disability30.2$781.94M
Family and children21$543.02M
Unemployment5.3$136.88M
Social exclusion n.e.c.4.7$121.88M
Housing3.8$99.32M
Social protection n.e.c.3.8$99.32M
Survivors0.1$3.54M
R&D Social protection0$0
General public services$2.08B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions64.1$1.33B
Executive and legislative organs, financial and fiscal affairs, external affairs15.5$323.48M
General services13.3$276.35M
General public services n.e.c.3.3$69.56M
Foreign economic aid2.5$51.96M
Basic research1.3$26.1M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Health$2.04B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services67.6$1.38B
Outpatient services22.8$463.66M
Medical products, appliances and equipment6.4$129.56M
Health n.e.c.3$61.06M
Public health services0.2$4.96M
R&D Health0$708.6K
Education$1.87B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education45.3$844.77M
Secondary education31.5$587.55M
Tertiary education17.4$325.37M
Subsidiary services to education2.6$48.89M
Education n.e.c.1.7$32.12M
Education not definable by level1.5$27.4M
Post-secondary non-tertiary education0$472.4K
R&D Education0$236.2K
Economic affairs$1.44B
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport58.6$844.77M
Agriculture, forestry, fishing and hunting12.8$185.3M
General economic, commercial and labour affairs11.4$164.28M
R&D Economic affairs6.7$96.49M
Economic affairs n.e.c.4.8$69.8M
Fuel and energy2.6$37.44M
Other industries1.7$24.68M
Communication0.8$11.46M
Mining, manufacturing and construction0.5$7.91M
Recreation, culture and religion$812.06M
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 services47.8$387.96M
Cultural services34.8$282.5M
Religious and other community services9.3$75.47M
Broadcasting and publishing services7.3$59.4M
R&D Recreation, culture and religion0.8$6.73M
Recreation, culture and religion n.e.c.0$0
Public order and safety$366.82M
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 services50.9$186.6M
Public order and safety n.e.c.18.9$69.44M
Law courts17.6$64.72M
Fire-protection services7.4$27.04M
Prisons5.1$18.78M
R&D Public order and safety0$0
Environmental protection$175.38M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management59.7$104.64M
Protection of biodiversity and landscape32.6$57.16M
Environmental protection n.e.c.7.1$12.52M
R&D Environmental protection0.6$1.06M
Waste water management0$0
Pollution abatement0$0
Housing and community amenities$172.07M
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 development63.5$109.24M
Housing development28.6$49.13M
Street lighting7$12.05M
Housing and community amenities n.e.c.1$1.65M
Water supply0$0
R&D Housing and community amenities0$0
Defence$30.47M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Civil defence94.6$28.82M
Foreign military aid5.8$1.77M
Military defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2018: revenue by kind, as a share of all revenue
Iceland, 2018: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth41.1$4.87B
Taxes on sales, production and imports31.5$3.73B
Income from property (interest, dividends, rent)9.9$1.18B
Social contributions7.7$907.13M
Sales, fees and charges6.4$755.49M
Capital transfers and taxes received2$236.67M
Other transfers received1.4$169.95M
Subsidies received0$0
Taxes on income and wealth$4.87B
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 income97.3$4.74B
Other taxes on wealth and income2.7$131.09M
Taxes on sales, production and imports$3.73B
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 tax60.6$2.26B
Not broken down, or fitting no category39.4$1.47B

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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