Tax revenue as share of GDP in Iceland
Iceland: Tax revenue as share of GDP was 37.7% in 2017. ▲ Rising
Tax revenue as share of GDP in Iceland, 1990–2017
Source: OECD (2018) – processed by Our World in Data. Measured in %.
Analysis
Iceland recorded 37.7% for tax revenue as share of gdp in 2017.
Compared with earlier readings it is down 27.0% on the previous year and down 3.2% over ten years.
Over the whole period, tax revenue as share of gdp in Iceland peaked at 51.6% in 2016 and was at its lowest, 30.6%, in 1994.
That places Iceland 14th out of 77 countries with data for 2017, putting it in the top quarter.
The long-run direction has been consistently rising across the 28 years of available data.
Tax revenue as share of GDP in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1990 | 30.9% | — |
| 1991 | 31.3% | +1.2% |
| 1992 | 32.1% | +2.7% |
| 1993 | 31.1% | -3.4% |
| 1994 | 30.6% | -1.5% |
| 1995 | 31.2% | +1.9% |
| 1996 | 32.3% | +3.6% |
| 1997 | 31.7% | -1.9% |
| 1998 | 33.8% | +6.8% |
| 1999 | 36.2% | +7.0% |
| 2000 | 36.3% | +0.3% |
| 2001 | 34.5% | -5.0% |
| 2002 | 34.2% | -0.9% |
| 2003 | 35.6% | +4.2% |
| 2004 | 36.6% | +2.8% |
| 2005 | 39.7% | +8.5% |
| 2006 | 40.5% | +2.1% |
| 2007 | 38.9% | -3.9% |
| 2008 | 35.0% | -10.1% |
| 2009 | 31.7% | -9.4% |
| 2010 | 33.2% | +4.7% |
| 2011 | 34.3% | +3.3% |
| 2012 | 35.0% | +2.2% |
| 2013 | 35.6% | +1.6% |
| 2014 | 38.3% | +7.7% |
| 2015 | 36.3% | -5.2% |
| 2016 | 51.6% | +42.0% |
| 2017 | 37.7% | -27.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 32.1% | 30.6% | 36.2% | 10 |
| 2000s | 36.3% | 31.7% | 40.5% | 10 |
| 2010s | 37.8% | 33.2% | 51.6% | 8 |
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)
- Gross value added at basic prices (GVA) (current US$), annual growth 17.56 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8994 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 88,429 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 9.45 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 115.52 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 11.36 million current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5382 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is tax revenue as share of gdp in Iceland?
- Tax revenue as share of gdp in Iceland was 37.7% in 2017, according to OECD (2018) – processed by Our World in Data.
- What is the highest tax revenue as share of gdp recorded in Iceland?
- The highest recorded value was 51.6% in 2016.
- What is the lowest tax revenue as share of gdp recorded in Iceland?
- The lowest recorded value was 30.6% in 1994.
- How does Iceland rank for tax revenue as share of gdp?
- Iceland ranks 14th out of 77 countries with data for 2017.
- Is tax revenue as share of gdp rising or falling in Iceland?
- Over the last ten years it is down 3.2%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from OECD (2018) – processed by Our World in Data, published as part of Tax revenue as share of GDP. Statizoid updates them automatically from the source API.
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About this data
The level of total tax revenues as a percentage of GDP. Total tax include sub-national revenues, and compulsory social security contributions paid to the general government.