Taxes less subsidies on products (constant LCU), annual growth rate in Iceland
Iceland: Taxes less subsidies on products (constant LCU), annual growth rate was 1.28 % change on previous year in 2025. ◆ Volatile
Taxes less subsidies on products (constant LCU), annual growth rate in Iceland, 1996–2025
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2025, taxes less subsidies on products (constant lcu), annual growth rate in Iceland stood at 1.28 % change on previous year.
Compared with earlier readings it is up 199.7% on the previous year and down 66.1% over ten years.
Over the whole period, taxes less subsidies on products (constant lcu), annual growth rate in Iceland peaked at 8.86 % change on previous year in 2022 and was at its lowest, -8.32 % change on previous year, in 2009.
Iceland ranks 143rd of 188 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes less subsidies on products (constant LCU), annual growth rate in Iceland, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1996 | 4.5 % change on previous year | — |
| 1997 | 4.14 % change on previous year | -7.9% |
| 1998 | 7.01 % change on previous year | +69.3% |
| 1999 | 3.9 % change on previous year | -44.4% |
| 2000 | 4.91 % change on previous year | +25.8% |
| 2001 | 3.84 % change on previous year | -21.7% |
| 2002 | 0.5426 % change on previous year | -85.9% |
| 2003 | 2.28 % change on previous year | +320.4% |
| 2004 | 7.62 % change on previous year | +234.1% |
| 2005 | 7.03 % change on previous year | -7.8% |
| 2006 | 5.67 % change on previous year | -19.3% |
| 2007 | 8.74 % change on previous year | +54.1% |
| 2008 | 1.7 % change on previous year | -80.6% |
| 2009 | -8.32 % change on previous year | -589.6% |
| 2010 | -2.22 % change on previous year | -73.3% |
| 2011 | 1.38 % change on previous year | -162.1% |
| 2012 | 1.17 % change on previous year | -15.3% |
| 2013 | 3.6 % change on previous year | +207.6% |
| 2014 | 1.91 % change on previous year | -46.8% |
| 2015 | 3.77 % change on previous year | +96.9% |
| 2016 | 6.22 % change on previous year | +65.0% |
| 2017 | 3.49 % change on previous year | -44.0% |
| 2018 | 4.66 % change on previous year | +33.7% |
| 2019 | 1.14 % change on previous year | -75.6% |
| 2020 | -6.65 % change on previous year | -683.9% |
| 2021 | 5.18 % change on previous year | -178.0% |
| 2022 | 8.86 % change on previous year | +71.0% |
| 2023 | 5.03 % change on previous year | -43.2% |
| 2024 | -1.28 % change on previous year | -125.5% |
| 2025 | 1.28 % change on previous year | -199.7% |
Iceland compared with similar countries
- Iceland's 1.28 % change on previous year is below the median for high income countries, which is 2.19 % change on previous year, 58% of the median. (66 countries reporting)
- Iceland's 1.28 % change on previous year is below the median for Europe & Central Asia, which is 2.23 % change on previous year, 57% of the median. (53 countries reporting)
Biggest year-on-year movements
Years where Taxes less subsidies on products (constant LCU), annual growth rate in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2020 | -683.9% | 1.14 % change on previous year | -6.65 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.89 % change on previous year | 3.9 % change on previous year | 7.01 % change on previous year | 4 |
| 2000s | 3.4 % change on previous year | -8.32 % change on previous year | 8.74 % change on previous year | 10 |
| 2010s | 2.51 % change on previous year | -2.22 % change on previous year | 6.22 % change on previous year | 10 |
| 2020s | 2.07 % change on previous year | -6.65 % change on previous year | 8.86 % change on previous year | 6 |
Countries ranked near Iceland
- 140 Russia 1.43 % change on previous year compare
- 141 Netherlands 1.37 % change on previous year compare
- 142 Luxembourg 1.35 % change on previous year compare
- 144 Honduras 1.23 % change on previous year compare
- 145 Denmark 1.21 % change on previous year compare
- 146 United Kingdom 1.2 % change on previous year 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)
- 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 taxes less subsidies on products (constant lcu), annual growth rate in Iceland?
- Taxes less subsidies on products (constant lcu), annual growth rate in Iceland was 1.28 % change on previous year in 2025, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (constant lcu), annual growth rate recorded in Iceland?
- The highest recorded value was 8.86 % change on previous year in 2022.
- What is the lowest taxes less subsidies on products (constant lcu), annual growth rate recorded in Iceland?
- The lowest recorded value was -8.32 % change on previous year in 2009.
- How does Iceland rank for taxes less subsidies on products (constant lcu), annual growth rate?
- Iceland ranks 143rd out of 188 countries with data for 2025.
- Is taxes less subsidies on products (constant lcu), annual growth rate rising or falling in Iceland?
- Over the last ten years it is down 66.1%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Statizoid (derived), published as part of Taxes less subsidies on products (constant LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Taxes less subsidies on products (constant LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Taxes less subsidies on products Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Taxes less subsidies on products (constant LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.