Adjusted savings: education expenditure in Iceland
Iceland: Adjusted savings: education expenditure was 7.2% in 2021. ▲ Rising
Adjusted savings: education expenditure in Iceland, 1970–2021
Source: Staff estimates, World Bank (WB). Measured in % of GNI.
Analysis
Iceland recorded 7.2% for adjusted savings: education expenditure in 2021.
Compared with earlier readings it is down 6.3% over ten years.
Over the whole period, adjusted savings: education expenditure in Iceland peaked at 8.4% in 2008 and was at its lowest, 4.1%, in 1970.
That places Iceland 14th out of 200 countries with data for 2021, putting it in the top 10%.
The long-run direction has been consistently rising across the 52 years of available data.
Adjusted savings: education expenditure in Iceland, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1970 | 4.1% | — |
| 1971 | 4.1% | +0.0% |
| 1972 | 4.1% | +0.0% |
| 1973 | 4.1% | +0.0% |
| 1974 | 4.1% | +0.0% |
| 1975 | 4.1% | +0.0% |
| 1976 | 4.1% | +0.0% |
| 1977 | 4.1% | +0.0% |
| 1978 | 4.1% | +0.0% |
| 1979 | 4.1% | +0.0% |
| 1980 | 4.1% | +0.0% |
| 1981 | 4.1% | +0.0% |
| 1982 | 4.1% | +0.0% |
| 1983 | 4.1% | +0.0% |
| 1984 | 4.1% | +0.0% |
| 1985 | 4.1% | +0.0% |
| 1986 | 4.1% | +0.0% |
| 1987 | 4.1% | +0.0% |
| 1988 | 4.1% | +0.0% |
| 1989 | 4.1% | +0.0% |
| 1990 | 4.1% | +0.0% |
| 1991 | 4.5% | +8.9% |
| 1992 | 4.5% | +0.0% |
| 1993 | 4.8% | +7.5% |
| 1994 | 4.4% | -8.3% |
| 1995 | 4.5% | +2.3% |
| 1996 | 4.7% | +4.4% |
| 1997 | 5.0% | +5.7% |
| 1998 | 6.4% | +29.7% |
| 1999 | 5.7% | -12.3% |
| 2000 | 5.7% | +1.4% |
| 2001 | 6.1% | +5.8% |
| 2002 | 6.6% | +8.9% |
| 2003 | 6.9% | +4.7% |
| 2004 | 6.8% | -1.7% |
| 2005 | 7.0% | +3.2% |
| 2006 | 7.0% | +0.4% |
| 2007 | 6.9% | -2.6% |
| 2008 | 8.4% | +21.9% |
| 2009 | 8.3% | -0.2% |
| 2010 | 8.1% | -3.4% |
| 2011 | 7.7% | -5.1% |
| 2012 | 8.2% | +6.9% |
| 2013 | 7.4% | -9.0% |
| 2014 | 7.6% | +1.9% |
| 2015 | 7.5% | -1.6% |
| 2016 | 7.4% | -0.3% |
| 2017 | 7.5% | +0.3% |
| 2018 | 7.5% | +0.2% |
| 2019 | 7.2% | -4.1% |
| 2020 | 7.2% | +0.0% |
| 2021 | 7.2% | +0.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.1% | 4.1% | 4.1% | 10 |
| 1980s | 4.1% | 4.1% | 4.1% | 10 |
| 1990s | 4.8% | 4.1% | 6.4% | 10 |
| 2000s | 7.0% | 5.7% | 8.4% | 10 |
| 2010s | 7.6% | 7.2% | 8.2% | 10 |
| 2020s | 7.2% | 7.2% | 7.2% | 2 |
Countries ranked near Iceland
- 11 Djibouti 7.8% compare
- 12 New Zealand 7.4% compare
- 13 Saudi Arabia 7.2% compare
- 15 Sierra Leone 7.1% compare
- 16 Sweden 7.1% compare
- 17 Eswatini 7.1% compare
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- Gross capital formation (current US$), annual growth rate 17.72 % change on previous year (2025)
- Gross capital formation (current US$), per unit of GDP 0.2657 current US$ per US$ of GDP (2025)
- Gross capital formation (current US$), per capita 26,128 current US$ per person (2025)
- Gross capital formation (current LCU), annual growth rate 9.6 % change on previous year (2025)
- Gross capital formation (current LCU), per unit of GDP 34.13 current LCU per US$ of GDP (2025)
- Gross capital formation (current LCU), per capita 3.36 million current LCU per person (2025)
- Gross capital formation (constant 2015 US$), annual growth rate 5.88 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.1585 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is adjusted savings: education expenditure in Iceland?
- Adjusted savings: education expenditure in Iceland was 7.2% in 2021, according to Staff estimates, World Bank (WB).
- What is the highest adjusted savings: education expenditure recorded in Iceland?
- The highest recorded value was 8.4% in 2008.
- What is the lowest adjusted savings: education expenditure recorded in Iceland?
- The lowest recorded value was 4.1% in 1970.
- How does Iceland rank for adjusted savings: education expenditure?
- Iceland ranks 14th out of 200 countries with data for 2021.
- Is adjusted savings: education expenditure rising or falling in Iceland?
- Over the last ten years it is down 6.3%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Adjusted savings: education expenditure (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Education expenditure refers to the current operating expenditures in education, including wages and salaries and excluding capital investments in buildings and equipment. This indicator is expressed as a percentage of Gross National Income (GNI) which is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad.