Government revenues as a share of GDP in Iceland
Iceland: Government revenues as a share of GDP was 43.5% in 2023. ▬ Flat
Government revenues as a share of GDP in Iceland, 2000–2023
Source: International Monetary Fund – with minor processing by Our World in Data. Measured in %.
Analysis
The most recent figure for government revenues as a share of gdp in Iceland is 43.5%, measured in 2023.
That represents a change of up 2.7% on the previous year and down 2.9% over ten years.
Over the whole period, government revenues as a share of gdp in Iceland peaked at 59.1% in 2016 and was at its lowest, 39.9%, in 2002.
That places Iceland 27th out of 174 countries with data for 2023, putting it in the top quarter.
Government revenues as a share of GDP in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 42.3% | — |
| 2001 | 40.3% | -4.7% |
| 2002 | 39.9% | -1.1% |
| 2003 | 41.1% | +3.0% |
| 2004 | 42.2% | +2.8% |
| 2005 | 50.0% | +18.5% |
| 2006 | 51.3% | +2.6% |
| 2007 | 50.4% | -1.8% |
| 2008 | 51.3% | +1.8% |
| 2009 | 45.1% | -12.1% |
| 2010 | 42.2% | -6.3% |
| 2011 | 44.1% | +4.5% |
| 2012 | 45.2% | +2.5% |
| 2013 | 44.8% | -0.9% |
| 2014 | 46.2% | +3.1% |
| 2015 | 43.2% | -6.6% |
| 2016 | 59.1% | +36.8% |
| 2017 | 45.5% | -23.1% |
| 2018 | 44.8% | -1.3% |
| 2019 | 42.2% | -6.0% |
| 2020 | 42.0% | -0.3% |
| 2021 | 41.0% | -2.4% |
| 2022 | 42.4% | +3.3% |
| 2023 | 43.5% | +2.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 45.4% | 39.9% | 51.3% | 10 |
| 2010s | 45.7% | 42.2% | 59.1% | 10 |
| 2020s | 42.2% | 41.0% | 43.5% | 4 |
Countries ranked near Iceland
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)
- Exports of goods and services (current LCU), annual growth rate 2.27 % change on previous year (2025)
- Exports of goods and services (current LCU), per unit of GDP 51.52 current LCU per US$ of GDP (2025)
- Exports of goods and services (current LCU), per capita 5.07 million current LCU per person (2025)
- Exports of goods and services (constant 2015 US$), annual growth rate 0.9908 % change on previous year (2025)
- Exports of goods and services (constant 2015 US$), per unit of GDP 0.274 constant 2015 US$ per US$ of GDP (2025)
- Exports of goods and services (constant 2015 US$), per capita 26,937 constant 2015 US$ per person (2025)
- Gross fixed capital formation (current US$), annual growth rate 15.75 % change on previous year (2025)
- Gross fixed capital formation (current US$), per unit of GDP 0.2666 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is government revenues as a share of gdp in Iceland?
- Government revenues as a share of gdp in Iceland was 43.5% in 2023, according to International Monetary Fund – with minor processing by Our World in Data.
- What is the highest government revenues as a share of gdp recorded in Iceland?
- The highest recorded value was 59.1% in 2016.
- What is the lowest government revenues as a share of gdp recorded in Iceland?
- The lowest recorded value was 39.9% in 2002.
- How does Iceland rank for government revenues as a share of gdp?
- Iceland ranks 27th out of 174 countries with data for 2023.
- Is government revenues as a share of gdp rising or falling in Iceland?
- Over the last ten years it is down 2.9%. The long-run trend across the full record is flat.
- Where does this Iceland data come from?
- The figures come from International Monetary Fund – with minor processing by Our World in Data, published as part of Government revenues as a share of GDP. Statizoid updates them automatically from the source API.
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About this data
Taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales included.