Revenue, excluding grants in Iceland
Iceland: Revenue, excluding grants was 31.4% in 2023. ▲ Rising
Revenue, excluding grants in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2023, revenue, excluding grants in Iceland stood at 31.4%.
Compared with earlier readings it is up 2.6% on the previous year and down 5.8% over ten years.
Over the whole period, revenue, excluding grants in Iceland peaked at 47.3% in 2016 and was at its lowest, 23.5%, in 1977.
That places Iceland 43rd out of 157 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently rising across the 52 years of available data.
Revenue, excluding grants in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 25.2% | — |
| 1973 | 25.2% | +0.1% |
| 1974 | 26.1% | +3.2% |
| 1975 | 25.8% | -1.0% |
| 1976 | 24.2% | -6.1% |
| 1977 | 23.5% | -3.1% |
| 1978 | 24.4% | +3.7% |
| 1979 | 25.2% | +3.5% |
| 1980 | 24.3% | -3.4% |
| 1981 | 25.3% | +4.1% |
| 1982 | 26.2% | +3.5% |
| 1983 | 24.6% | -6.3% |
| 1984 | 25.1% | +2.2% |
| 1985 | 24.4% | -3.1% |
| 1986 | 24.6% | +0.8% |
| 1987 | 24.4% | -0.8% |
| 1988 | 26.2% | +7.4% |
| 1989 | 27.6% | +5.3% |
| 1990 | 27.4% | -0.4% |
| 1991 | 27.6% | +0.7% |
| 1992 | 28.7% | +4.0% |
| 1993 | 27.9% | -2.7% |
| 1994 | 27.8% | -0.4% |
| 1995 | 28.3% | +1.7% |
| 1996 | 29.3% | +3.6% |
| 1997 | 28.1% | -4.1% |
| 1998 | 30.3% | +7.5% |
| 1999 | 32.5% | +7.4% |
| 2000 | 31.7% | -2.4% |
| 2001 | 29.7% | -6.5% |
| 2002 | 29.2% | -1.4% |
| 2003 | 30.1% | +3.0% |
| 2004 | 31.2% | +3.6% |
| 2005 | 37.9% | +21.4% |
| 2006 | 38.6% | +2.0% |
| 2007 | 37.6% | -2.7% |
| 2008 | 39.8% | +5.8% |
| 2009 | 34.3% | -13.9% |
| 2010 | 31.5% | -8.2% |
| 2011 | 32.8% | +4.1% |
| 2012 | 33.7% | +2.8% |
| 2013 | 33.4% | -0.8% |
| 2014 | 34.8% | +4.3% |
| 2015 | 32.0% | -8.1% |
| 2016 | 47.3% | +47.7% |
| 2017 | 33.3% | -29.5% |
| 2018 | 32.5% | -2.5% |
| 2019 | 30.1% | -7.5% |
| 2020 | 28.9% | -3.8% |
| 2021 | 28.4% | -1.9% |
| 2022 | 30.7% | +8.0% |
| 2023 | 31.4% | +2.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 24.9% | 23.5% | 26.1% | 8 |
| 1980s | 25.3% | 24.3% | 27.6% | 10 |
| 1990s | 28.8% | 27.4% | 32.5% | 10 |
| 2000s | 34.0% | 29.2% | 39.8% | 10 |
| 2010s | 34.1% | 30.1% | 47.3% | 10 |
| 2020s | 29.9% | 28.4% | 31.4% | 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 revenue, excluding grants in Iceland?
- Revenue, excluding grants in Iceland was 31.4% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest revenue, excluding grants recorded in Iceland?
- The highest recorded value was 47.3% in 2016.
- What is the lowest revenue, excluding grants recorded in Iceland?
- The lowest recorded value was 23.5% in 1977.
- How does Iceland rank for revenue, excluding grants?
- Iceland ranks 43rd out of 157 countries with data for 2023.
- Is revenue, excluding grants rising or falling in Iceland?
- Over the last ten years it is down 5.8%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Revenue, excluding grants (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Revenue is an increase in net worth resulting from a transaction. Grants are excluded from this figure. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.