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, 2022

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 2022's average rate (Eurostat).

Revenue
$12.37B · 42.4% of GDP
Spending
$13.49B · 46.2% of GDP
Surplus (+) or deficit (−)
-$1.12B · -3.8% of GDP

What the money is spent on

Iceland, 2022: spending by function, as a share of all spending
Iceland, 2022: spending by function, as a share of all spending
RowValue (%)ShareNote
Social protection23.3$3.14B
General public services20$2.7B
Health18$2.43B
Education14.7$1.98B
Economic affairs11.1$1.49B
Recreation, culture and religion6.6$885.78M
Public order and safety3.1$417.09M
Environmental protection1.7$231.13M
Housing and community amenities1.1$154.05M
Defence0.4$49.07M
Social protection$3.14B
Social protection, in detail, as a share of it
Social protection, in detail, as a share of it
RowValue (%)ShareNote
Sickness and disability29.2$919.27M
Old age27.9$878.2M
Family and children21.4$671.92M
Unemployment8.7$274.52M
Social exclusion n.e.c.6.1$192.17M
Social protection n.e.c.3.6$112.46M
Housing2.8$88.35M
Survivors0.2$6.21M
R&D Social protection0$0
General public services$2.7B
General public services, in detail, as a share of it
General public services, in detail, as a share of it
RowValue (%)ShareNote
Public debt transactions65$1.75B
Executive and legislative organs, financial and fiscal affairs, external affairs14.1$380.55M
General services13.6$367.5M
Foreign economic aid3.1$84.66M
General public services n.e.c.2.9$78.24M
Basic research1.2$32.96M
R&D General public services0$0
Transfers of a general character between different levels of government0$0
Health$2.43B
Health, in detail, as a share of it
Health, in detail, as a share of it
RowValue (%)ShareNote
Hospital services67.4$1.64B
Outpatient services21.7$527.66M
Medical products, appliances and equipment6.8$165.01M
Health n.e.c.3.8$92.87M
Public health services0.2$6M
R&D Health0$0
Education$1.98B
Education, in detail, as a share of it
Education, in detail, as a share of it
RowValue (%)ShareNote
Pre-primary and primary education46.2$916.74M
Secondary education30$595.05M
Tertiary education18.1$360.02M
Subsidiary services to education2.8$55.18M
Education n.e.c.1.6$31.8M
Education not definable by level1.3$25.17M
R&D Education0$105.3K
Post-secondary non-tertiary education0$0
Economic affairs$1.49B
Economic affairs, in detail, as a share of it
Economic affairs, in detail, as a share of it
RowValue (%)ShareNote
Transport52.8$788.7M
Agriculture, forestry, fishing and hunting13.4$199.44M
General economic, commercial and labour affairs11.2$167.95M
Economic affairs n.e.c.10.1$150.26M
R&D Economic affairs5.9$87.4M
Fuel and energy2.9$43.8M
Other industries1.8$26.43M
Communication1.1$15.79M
Mining, manufacturing and construction1$14.22M
Recreation, culture and religion$885.78M
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 services49.4$437.84M
Cultural services35.4$313.79M
Religious and other community services7.7$68.02M
Broadcasting and publishing services6.6$58.86M
R&D Recreation, culture and religion0.8$7.27M
Recreation, culture and religion n.e.c.0$0
Public order and safety$417.09M
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 services54.1$225.76M
Public order and safety n.e.c.17.9$74.66M
Law courts15.4$64.34M
Fire-protection services7.4$30.85M
Prisons5.2$21.48M
R&D Public order and safety0$0
Environmental protection$231.13M
Environmental protection, in detail, as a share of it
Environmental protection, in detail, as a share of it
RowValue (%)ShareNote
Waste management56.1$129.73M
Protection of biodiversity and landscape21.5$49.81M
Environmental protection n.e.c.21.5$49.7M
R&D Environmental protection0.8$1.79M
Waste water management0$0
Pollution abatement0$0
Housing and community amenities$154.05M
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 development69.3$106.77M
Housing development18.2$28.01M
Street lighting11.3$17.37M
Housing and community amenities n.e.c.1.2$1.79M
Water supply0$0
R&D Housing and community amenities0$0
Defence$49.07M
Defence, in detail, as a share of it
Defence, in detail, as a share of it
RowValue (%)ShareNote
Civil defence100$49.07M
Military defence0$0
Foreign military aid0$0
R&D Defence0$0
Defence n.e.c.0$0

Where the money comes from

Iceland, 2022: revenue by kind, as a share of all revenue
Iceland, 2022: revenue by kind, as a share of all revenue
RowValue (%)ShareNote
Taxes on income and wealth43.1$5.33B
Taxes on sales, production and imports31.3$3.87B
Income from property (interest, dividends, rent)10.2$1.26B
Social contributions6.9$855.56M
Sales, fees and charges5.9$726.36M
Capital transfers and taxes received1.5$189.65M
Other transfers received1.2$146.47M
Subsidies received0$0
Taxes on income and wealth$5.33B
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 income97.8$5.21B
Other taxes on wealth and income2.2$119.2M
Taxes on sales, production and imports$3.87B
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 tax61.9$2.39B
Not broken down, or fitting no category38.1$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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