Tax revenue as a proportion of GDP in Iceland
Iceland: Tax revenue as a proportion of GDP was 23.2% in 2023. ▬ Flat
Latest (2023)
23.2%
Change on year
up 4.6%
World rank
28th
of 164 countries
All-time high
37.1%
in 2016
All-time low
19.8%
in 2009
Years of data
24
2000–2023
Tax revenue as a proportion of GDP in Iceland, 2000–2023
Source: United Nations Statistics Division, SDG Global Database.
Analysis
The most recent figure for tax revenue as a proportion of gdp in Iceland is 23.2%, measured in 2023.
The figure is up 4.6% on the previous year and up 7.8% over ten years.
Over the whole period, tax revenue as a proportion of gdp in Iceland peaked at 37.1% in 2016 and was at its lowest, 19.8%, in 2009.
That places Iceland 28th out of 164 countries with data for 2023, putting it in the top quarter.
Tax revenue as a proportion of GDP in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 24.8% | — |
| 2001 | 22.5% | -9.2% |
| 2002 | 22.4% | -0.7% |
| 2003 | 23.4% | +4.7% |
| 2004 | 24.5% | +4.8% |
| 2005 | 26.8% | +9.2% |
| 2006 | 26.6% | -0.7% |
| 2007 | 25.6% | -3.7% |
| 2008 | 22.6% | -11.8% |
| 2009 | 19.8% | -12.1% |
| 2010 | 20.0% | +0.7% |
| 2011 | 20.4% | +1.9% |
| 2012 | 21.2% | +4.3% |
| 2013 | 21.5% | +1.3% |
| 2014 | 24.2% | +12.8% |
| 2015 | 22.5% | -7.4% |
| 2016 | 37.1% | +65.2% |
| 2017 | 23.6% | -36.4% |
| 2018 | 22.6% | -4.2% |
| 2019 | 21.7% | -4.2% |
| 2020 | 22.0% | +1.5% |
| 2021 | 21.1% | -4.2% |
| 2022 | 22.2% | +5.3% |
| 2023 | 23.2% | +4.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 23.9% | 19.8% | 26.8% | 10 |
| 2010s | 23.5% | 20.0% | 37.1% | 10 |
| 2020s | 22.1% | 21.1% | 23.2% | 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is tax revenue as a proportion of gdp in Iceland?
- Tax revenue as a proportion of gdp in Iceland was 23.2% in 2023, according to United Nations Statistics Division, SDG Global Database.
- What is the highest tax revenue as a proportion of gdp recorded in Iceland?
- The highest recorded value was 37.1% in 2016.
- What is the lowest tax revenue as a proportion of gdp recorded in Iceland?
- The lowest recorded value was 19.8% in 2009.
- How does Iceland rank for tax revenue as a proportion of gdp?
- Iceland ranks 28th out of 164 countries with data for 2023.
- Is tax revenue as a proportion of gdp rising or falling in Iceland?
- Over the last ten years it is up 7.8%. The long-run trend across the full record is flat.
- Where does this Iceland data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Tax revenue as a proportion of GDP (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under UN SDG Global Database (open, attribution requested).