Tax revenue as share of GDP vs. GDP per capita in Iceland
Iceland: Tax revenue as share of GDP vs. GDP per capita was 35.6% in 2023. ▲ Rising
Tax revenue as share of GDP vs. GDP per capita in Iceland, 1980–2023
Source: UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data. Measured in % of GDP.
Analysis
The most recent figure for tax revenue as share of gdp vs. gdp per capita in Iceland is 35.6%, measured in 2023.
The figure is up 1.4% on the previous year and up 3.7% over ten years.
Over the whole period, tax revenue as share of gdp vs. gdp per capita in Iceland peaked at 50.3% in 2016 and was at its lowest, 27.5%, in 1985.
That places Iceland 20th out of 187 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently rising across the 44 years of available data.
Tax revenue as share of GDP vs. GDP per capita in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | 28.7% | — |
| 1981 | 29.9% | +4.0% |
| 1982 | 30.1% | +1.0% |
| 1983 | 27.7% | -8.2% |
| 1984 | 28.9% | +4.4% |
| 1985 | 27.5% | -4.7% |
| 1986 | 27.8% | +1.0% |
| 1987 | 28.1% | +1.0% |
| 1988 | 30.6% | +9.1% |
| 1989 | 30.8% | +0.5% |
| 1990 | 30.3% | -1.5% |
| 1991 | 30.7% | +1.1% |
| 1992 | 31.6% | +2.9% |
| 1993 | 30.6% | -3.1% |
| 1994 | 30.1% | -1.4% |
| 1995 | 30.7% | +2.0% |
| 1996 | 31.9% | +3.8% |
| 1997 | 31.6% | -0.9% |
| 1998 | 33.6% | +6.4% |
| 1999 | 35.9% | +6.8% |
| 2000 | 35.9% | -0.1% |
| 2001 | 34.1% | -5.1% |
| 2002 | 33.8% | -0.9% |
| 2003 | 35.3% | +4.4% |
| 2004 | 36.3% | +3.0% |
| 2005 | 39.3% | +8.2% |
| 2006 | 39.6% | +0.6% |
| 2007 | 38.3% | -3.1% |
| 2008 | 34.2% | -10.8% |
| 2009 | 31.2% | -8.8% |
| 2010 | 32.1% | +3.0% |
| 2011 | 33.2% | +3.3% |
| 2012 | 34.0% | +2.3% |
| 2013 | 34.3% | +1.1% |
| 2014 | 37.1% | +8.1% |
| 2015 | 35.1% | -5.3% |
| 2016 | 50.3% | +43.1% |
| 2017 | 37.1% | -26.2% |
| 2018 | 36.5% | -1.8% |
| 2019 | 35.1% | -3.7% |
| 2020 | 36.2% | +3.2% |
| 2021 | 34.8% | -4.0% |
| 2022 | 35.1% | +0.9% |
| 2023 | 35.6% | +1.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 29.0% | 27.5% | 30.8% | 10 |
| 1990s | 31.7% | 30.1% | 35.9% | 10 |
| 2000s | 35.8% | 31.2% | 39.6% | 10 |
| 2010s | 36.5% | 32.1% | 50.3% | 10 |
| 2020s | 35.4% | 34.8% | 36.2% | 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)
- 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 tax revenue as share of gdp vs. gdp per capita in Iceland?
- Tax revenue as share of gdp vs. gdp per capita in Iceland was 35.6% in 2023, according to UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data.
- What is the highest tax revenue as share of gdp vs. gdp per capita recorded in Iceland?
- The highest recorded value was 50.3% in 2016.
- What is the lowest tax revenue as share of gdp vs. gdp per capita recorded in Iceland?
- The lowest recorded value was 27.5% in 1985.
- How does Iceland rank for tax revenue as share of gdp vs. gdp per capita?
- Iceland ranks 20th out of 187 countries with data for 2023.
- Is tax revenue as share of gdp vs. gdp per capita rising or falling in Iceland?
- Over the last ten years it is up 3.7%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data, published as part of Tax revenue as share of GDP vs. GDP per capita. Statizoid updates them automatically from the source API.
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About this data
Taxes include direct and indirect taxes as well as social contributions. GDP per capita is adjusted for inflation and differences in living costs between countries.