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, 2019

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 2019's average rate (Eurostat).

Revenue
$10.38B · 41.6% of GDP
Spending
$10.74B · 43% of GDP
Surplus (+) or deficit (−)
-$361.49M · -1.4% of GDP

What the money is spent on

Iceland, 2019: spending by function, as a share of all spending
Iceland, 2019: spending by function, as a share of all spending
RowValue (%)ShareNote
Social protection24.5$2.63B
Health18$1.94B
General public services16.7$1.8B
Education16.1$1.73B
Economic affairs11.1$1.2B
Recreation, culture and religion7$755.77M
Public order and safety3.2$348.95M
Environmental protection1.5$157.18M
Housing and community amenities1.4$148.56M
Defence0.4$37.62M
Social protection$2.63B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Old age30.3$796.97M
Sickness and disability29.9$786M
Family and children20.3$533.44M
Unemployment7.8$205.2M
Social exclusion n.e.c.4.6$121.58M
Social protection n.e.c.3.6$93.81M
Housing3.4$90.57M
Survivors0.1$3.36M
R&D Social protection0$0
Health$1.94B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services66.9$1.3B
Outpatient services23$446.79M
Medical products, appliances and equipment6.7$130.31M
Health n.e.c.3.2$61.12M
Public health services0.2$4.25M
R&D Health0$0
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 transactions61.5$1.11B
Executive and legislative organs, financial and fiscal affairs, external affairs17.2$308.31M
General services13.6$244.5M
General public services n.e.c.3.8$67.95M
Foreign economic aid2.5$45.68M
Basic research1.4$25.3M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Education$1.73B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education44.9$777.27M
Secondary education31.3$541.28M
Tertiary education17.8$307.75M
Subsidiary services to education2.8$48.36M
Education n.e.c.1.8$30.9M
Education not definable by level1.5$25.75M
Post-secondary non-tertiary education0$447.8K
R&D Education0$111.95K
Economic affairs$1.2B
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport57$682.56M
Agriculture, forestry, fishing and hunting13.5$161.88M
General economic, commercial and labour affairs10.6$127.06M
R&D Economic affairs7.1$85.31M
Economic affairs n.e.c.5.6$67.06M
Fuel and energy2.9$35.04M
Other industries1.9$22.28M
Communication0.8$9.4M
Mining, manufacturing and construction0.6$7.16M
Recreation, culture and religion$755.77M
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 services47.6$359.81M
Cultural services34.4$259.95M
Religious and other community services8.9$66.95M
Broadcasting and publishing services7.7$57.88M
R&D Recreation, culture and religion1.5$11.31M
Recreation, culture and religion n.e.c.0$0
Public order and safety$348.95M
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 services52.6$183.37M
Public order and safety n.e.c.18.3$63.81M
Law courts17.2$59.89M
Fire-protection services6.7$23.51M
Prisons5.3$18.47M
R&D Public order and safety0$111.95K
Environmental protection$157.18M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management61.6$96.84M
Protection of biodiversity and landscape30$47.13M
Environmental protection n.e.c.7.7$12.09M
R&D Environmental protection0.7$1.12M
Waste water management0$0
Pollution abatement0$0
Housing and community amenities$148.56M
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 development60.1$89.22M
Housing development30.9$45.9M
Street lighting7.8$11.53M
Housing and community amenities n.e.c.1.3$1.9M
Water supply0$0
R&D Housing and community amenities0$0
Defence$37.62M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Civil defence96.7$36.38M
Foreign military aid3.3$1.23M
Military defence0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2019: revenue by kind, as a share of all revenue
Iceland, 2019: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth42.9$4.45B
Taxes on sales, production and imports32.1$3.33B
Income from property (interest, dividends, rent)8.3$865.71M
Social contributions7.7$794.51M
Sales, fees and charges6.2$641.81M
Other transfers received1.6$167.59M
Capital transfers and taxes received1.2$129.64M
Subsidies received0$0
Taxes on income and wealth$4.45B
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 income97.4$4.34B
Other taxes on wealth and income2.6$118M
Taxes on sales, production and imports$3.33B
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 tax59.6$1.98B
Not broken down, or fitting no category40.4$1.35B

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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