Canada vs Iceland: Financing of social security benefits in OECD member countries — Tax
Canada
5.28 Percentage of GDP
in 2024
Iceland
2.98 Percentage of GDP
in 2024
Canada rank
26th
Iceland rank
29th
Financing of social security benefits in OECD member countries — Tax over time
- Canada
- Iceland
How they compare
Canada currently reports 5.28 Percentage of GDP against 2.98 Percentage of GDP in Iceland, a difference of 2.3 Percentage of GDP.
That makes Canada's figure about 1.8 times Iceland's.
The two have swapped places 1 time across 48 shared years of data; in 1965 it was Iceland ahead.
Canada ranks 26th and Iceland ranks 29th of 33 countries.
Across the 7 decades both report, Canada averaged higher in 6 and Iceland in 1.
Head to head by decade
| Decade | Canada | Iceland | Difference | Ahead |
|---|---|---|---|---|
| 1960s | 1.39 Percentage of GDP | 2.02 Percentage of GDP | 0.6279 Percentage of GDP | Iceland |
| 1970s | 3.01 Percentage of GDP | 1.46 Percentage of GDP | 1.55 Percentage of GDP | Canada |
| 1980s | 4.08 Percentage of GDP | 0.6743 Percentage of GDP | 3.41 Percentage of GDP | Canada |
| 1990s | 4.8 Percentage of GDP | 2.32 Percentage of GDP | 2.48 Percentage of GDP | Canada |
| 2000s | 4.82 Percentage of GDP | 2.83 Percentage of GDP | 1.98 Percentage of GDP | Canada |
| 2010s | 4.7 Percentage of GDP | 3.47 Percentage of GDP | 1.23 Percentage of GDP | Canada |
| 2020s | 4.95 Percentage of GDP | 2.96 Percentage of GDP | 1.99 Percentage of GDP | Canada |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher financing of social security benefits in oecd member countries — tax, Canada or Iceland?
- Canada, at 5.28 Percentage of GDP against 2.98 Percentage of GDP in Iceland as of 2024.
- What is the difference in financing of social security benefits in oecd member countries — tax between Canada and Iceland?
- 2.3 Percentage of GDP, with Canada ahead.
- How many years of comparable data are there for Canada and Iceland?
- 48 years are reported by both, from 1965 to 2024.
- How do Canada and Iceland rank globally for financing of social security benefits in oecd member countries — tax?
- Canada ranks 26th and Iceland ranks 29th of 33 countries.
- Where does this data come from?
- Organisation for Economic Co-operation and Development, published as Financing of social security benefits in OECD member countries — Tax revenue. Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Compulsory payments conferring entitlement to future social benefits These are usually earmarked to finance social benefits and paid to institutions of general government.