Share of central government spending funded by taxes in Iceland
Iceland: Share of central government spending funded by taxes was 73.2% in 2023. ▼ Falling
Share of central government spending funded by taxes in Iceland, 2000–2023
Source: International Monetary Fund – with minor processing by Our World in Data. Measured in %.
Analysis
Iceland recorded 73.2% for share of central government spending funded by taxes in 2023.
The figure is up 5.8% on the previous year and up 9.7% over ten years.
Over the whole period, share of central government spending funded by taxes in Iceland peaked at 100.8% in 2016 and was at its lowest, 49.9%, in 2008.
That places Iceland 30th out of 174 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently falling across the 24 years of available data.
Share of central government spending funded by taxes in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 83.7% | — |
| 2001 | 76.2% | -8.9% |
| 2002 | 73.1% | -4.1% |
| 2003 | 73.6% | +0.6% |
| 2004 | 79.0% | +7.4% |
| 2005 | 80.5% | +1.9% |
| 2006 | 81.4% | +1.1% |
| 2007 | 79.4% | -2.4% |
| 2008 | 49.9% | -37.2% |
| 2009 | 53.0% | +6.3% |
| 2010 | 58.1% | +9.7% |
| 2011 | 58.1% | -0.1% |
| 2012 | 63.6% | +9.5% |
| 2013 | 66.8% | +5.0% |
| 2014 | 73.1% | +9.5% |
| 2015 | 72.7% | -0.5% |
| 2016 | 100.8% | +38.6% |
| 2017 | 75.8% | -24.8% |
| 2018 | 75.1% | -0.9% |
| 2019 | 72.9% | -2.9% |
| 2020 | 65.1% | -10.7% |
| 2021 | 64.2% | -1.3% |
| 2022 | 69.2% | +7.8% |
| 2023 | 73.2% | +5.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 73.0% | 49.9% | 83.7% | 10 |
| 2010s | 71.7% | 58.1% | 100.8% | 10 |
| 2020s | 68.0% | 64.2% | 73.2% | 4 |
Countries ranked near Iceland
- 27 Australia 74.4% compare
- 28 Antigua and Barbuda 74.1% compare
- 29 Kazakhstan 73.4% compare
- 31 Bahamas 73.0% compare
- 32 United Arab Emirates 72.9% compare
- 33 Suriname 72.8% 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)
- 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 share of central government spending funded by taxes in Iceland?
- Share of central government spending funded by taxes in Iceland was 73.2% in 2023, according to International Monetary Fund – with minor processing by Our World in Data.
- What is the highest share of central government spending funded by taxes recorded in Iceland?
- The highest recorded value was 100.8% in 2016.
- What is the lowest share of central government spending funded by taxes recorded in Iceland?
- The lowest recorded value was 49.9% in 2008.
- How does Iceland rank for share of central government spending funded by taxes?
- Iceland ranks 30th out of 174 countries with data for 2023.
- Is share of central government spending funded by taxes rising or falling in Iceland?
- Over the last ten years it is up 9.7%. The long-run trend across the full record is falling.
- 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 Share of central government spending funded by taxes. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Spending refers to the budgetary central government which includes the core institutions of the national government. Funds only include taxes; Fines, penalties, and most social security contributions are excluded.