Military spending as a share of GDP in Iceland
Iceland: Military spending as a share of GDP was 0.2% in 2019. ◆ Volatile
Latest (2019)
0.2%
Change on year
up 10.9%
World rank
168th
of 172 countries
All-time high
2.8%
in 1945
All-time low
0.2%
in 2015
Years of data
76
1944–2019
Military spending as a share of GDP in Iceland, 1944–2019
Source: Barnum et al. - Global Military Spending Dataset (2025) – with minor processing by Our World in Data. Measured in % of GDP.
Analysis
The most recent figure for military spending as a share of gdp in Iceland is 0.2%, measured in 2019.
That represents a change of up 10.9% on the previous year and down 7.5% over ten years.
Over the whole period, military spending as a share of gdp in Iceland peaked at 2.8% in 1945 and was at its lowest, 0.2%, in 2015.
Iceland ranks 168th of 172 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Military spending as a share of GDP in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1944 | 2.6% | — |
| 1945 | 2.8% | +7.1% |
| 1946 | 2.5% | -11.9% |
| 1947 | 2.2% | -9.3% |
| 1948 | 2.0% | -9.0% |
| 1949 | 2.5% | +21.4% |
| 1950 | 2.2% | -8.7% |
| 1951 | 2.3% | +0.8% |
| 1952 | 2.5% | +11.7% |
| 1953 | 2.5% | -2.6% |
| 1954 | 2.2% | -11.1% |
| 1955 | 1.9% | -11.6% |
| 1956 | 2.0% | +3.2% |
| 1957 | 2.0% | -0.1% |
| 1958 | 1.9% | -4.3% |
| 1959 | 1.8% | -6.9% |
| 1960 | 1.8% | -0.3% |
| 1961 | 2.0% | +10.3% |
| 1962 | 1.9% | -4.9% |
| 1963 | 1.7% | -6.3% |
| 1964 | 1.7% | -2.9% |
| 1965 | 1.6% | -4.6% |
| 1966 | 1.5% | -9.5% |
| 1967 | 1.5% | +4.3% |
| 1968 | 1.6% | +7.2% |
| 1969 | 1.5% | -7.1% |
| 1970 | 1.4% | -8.8% |
| 1971 | 1.3% | -7.6% |
| 1972 | 1.1% | -12.5% |
| 1973 | 1.0% | -9.6% |
| 1974 | 0.9% | -10.7% |
| 1975 | 0.9% | -5.7% |
| 1976 | 0.8% | -10.3% |
| 1977 | 0.7% | -11.0% |
| 1978 | 0.6% | -8.9% |
| 1979 | 0.6% | -9.7% |
| 1980 | 0.5% | -10.9% |
| 1981 | 0.5% | -4.3% |
| 1982 | 0.5% | +0.0% |
| 1983 | 0.5% | +1.1% |
| 1984 | 0.5% | +1.9% |
| 1985 | 0.5% | -0.4% |
| 1986 | 0.5% | -6.5% |
| 1987 | 0.4% | -8.5% |
| 1988 | 0.4% | -4.2% |
| 1989 | 0.4% | -1.5% |
| 1990 | 0.4% | -1.2% |
| 1991 | 0.4% | -4.2% |
| 1992 | 0.4% | +9.6% |
| 1993 | 0.4% | -0.3% |
| 1994 | 0.4% | -1.1% |
| 1995 | 0.4% | -0.3% |
| 1996 | 0.4% | -3.0% |
| 1997 | 0.4% | -0.7% |
| 1998 | 0.4% | -5.4% |
| 1999 | 0.4% | -3.0% |
| 2000 | 0.4% | -0.8% |
| 2001 | 0.4% | +0.2% |
| 2002 | 0.4% | +5.2% |
| 2003 | 0.3% | -8.5% |
| 2004 | 0.3% | -5.2% |
| 2005 | 0.3% | -9.2% |
| 2006 | 0.3% | -7.2% |
| 2007 | 0.2% | -13.8% |
| 2008 | 0.2% | -6.0% |
| 2009 | 0.2% | +2.6% |
| 2010 | 0.2% | -7.2% |
| 2011 | 0.2% | -6.1% |
| 2012 | 0.2% | -4.3% |
| 2013 | 0.2% | +0.0% |
| 2014 | 0.2% | -7.6% |
| 2015 | 0.2% | -7.3% |
| 2016 | 0.2% | +2.4% |
| 2017 | 0.2% | +14.7% |
| 2018 | 0.2% | -0.6% |
| 2019 | 0.2% | +10.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1940s | 2.4% | 2.0% | 2.8% | 6 |
| 1950s | 2.1% | 1.8% | 2.5% | 10 |
| 1960s | 1.7% | 1.5% | 2.0% | 10 |
| 1970s | 0.9% | 0.6% | 1.4% | 10 |
| 1980s | 0.5% | 0.4% | 0.5% | 10 |
| 1990s | 0.4% | 0.4% | 0.4% | 10 |
| 2000s | 0.3% | 0.2% | 0.4% | 10 |
| 2010s | 0.2% | 0.2% | 0.2% | 10 |
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)
- Industry (including construction), value added (constant 2015 US$) -1.23 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.1135 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 11,161 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual -1.23 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 17.85 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 1.75 million constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 17.85 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.6623 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is military spending as a share of gdp in Iceland?
- Military spending as a share of gdp in Iceland was 0.2% in 2019, according to Barnum et al. - Global Military Spending Dataset (2025) – with minor processing by Our World in Data.
- What is the highest military spending as a share of gdp recorded in Iceland?
- The highest recorded value was 2.8% in 1945.
- What is the lowest military spending as a share of gdp recorded in Iceland?
- The lowest recorded value was 0.2% in 2015.
- How does Iceland rank for military spending as a share of gdp?
- Iceland ranks 168th out of 172 countries with data for 2019.
- Is military spending as a share of gdp rising or falling in Iceland?
- Over the last ten years it is down 7.5%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Barnum et al. - Global Military Spending Dataset (2025) – with minor processing by Our World in Data, published as part of Military spending as a share of GDP. Statizoid updates them automatically from the source API.
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About this data
Military spending measured as a percentage of gross domestic product (GDP).