Taxes less subsidies on products (constant LCU), per unit of GDP in Iceland
Iceland: Taxes less subsidies on products (constant LCU), per unit of GDP was 9.12 constant LCU per US$ of GDP in 2025. ▼ Falling
Taxes less subsidies on products (constant LCU), per unit of GDP in Iceland, 1995–2025
Source: Statizoid (derived). Measured in constant LCU per US$ of GDP.
Analysis
The most recent figure for taxes less subsidies on products (constant lcu), per unit of gdp in Iceland is 9.12 constant LCU per US$ of GDP, measured in 2025. That is the lowest value across all 31 years on record.
That represents a change of down 12.9% on the previous year and down 40.1% over ten years.
Over the whole period, taxes less subsidies on products (constant lcu), per unit of gdp in Iceland peaked at 23.23 constant LCU per US$ of GDP in 2001 and was at its lowest, 9.12 constant LCU per US$ of GDP, in 2025.
Iceland ranks 44th of 189 countries on this measure, in the top quarter.
The long-run direction has been consistently falling across the 31 years of available data.
Taxes less subsidies on products (constant LCU), per unit of GDP in Iceland, year by year
| Year | constant LCU per US$ of GDP | Change |
|---|---|---|
| 1995 | 19.89 constant LCU per US$ of GDP | — |
| 1996 | 19.94 constant LCU per US$ of GDP | +0.2% |
| 1997 | 20.68 constant LCU per US$ of GDP | +3.7% |
| 1998 | 19.77 constant LCU per US$ of GDP | -4.4% |
| 1999 | 19.49 constant LCU per US$ of GDP | -1.5% |
| 2000 | 20.37 constant LCU per US$ of GDP | +4.5% |
| 2001 | 23.23 constant LCU per US$ of GDP | +14.0% |
| 2002 | 20.64 constant LCU per US$ of GDP | -11.1% |
| 2003 | 17.19 constant LCU per US$ of GDP | -16.7% |
| 2004 | 15.32 constant LCU per US$ of GDP | -10.9% |
| 2005 | 13.36 constant LCU per US$ of GDP | -12.8% |
| 2006 | 13.69 constant LCU per US$ of GDP | +2.5% |
| 2007 | 11.98 constant LCU per US$ of GDP | -12.5% |
| 2008 | 14.67 constant LCU per US$ of GDP | +22.4% |
| 2009 | 18.57 constant LCU per US$ of GDP | +26.6% |
| 2010 | 17.23 constant LCU per US$ of GDP | -7.2% |
| 2011 | 15.8 constant LCU per US$ of GDP | -8.3% |
| 2012 | 16.46 constant LCU per US$ of GDP | +4.2% |
| 2013 | 15.69 constant LCU per US$ of GDP | -4.7% |
| 2014 | 14.39 constant LCU per US$ of GDP | -8.3% |
| 2015 | 15.23 constant LCU per US$ of GDP | +5.8% |
| 2016 | 13.58 constant LCU per US$ of GDP | -10.8% |
| 2017 | 11.82 constant LCU per US$ of GDP | -12.9% |
| 2018 | 11.62 constant LCU per US$ of GDP | -1.7% |
| 2019 | 12.55 constant LCU per US$ of GDP | +8.0% |
| 2020 | 13.29 constant LCU per US$ of GDP | +5.9% |
| 2021 | 11.74 constant LCU per US$ of GDP | -11.7% |
| 2022 | 11.49 constant LCU per US$ of GDP | -2.1% |
| 2023 | 11.11 constant LCU per US$ of GDP | -3.3% |
| 2024 | 10.47 constant LCU per US$ of GDP | -5.7% |
| 2025 | 9.12 constant LCU per US$ of GDP | -12.9% |
Iceland compared with similar countries
- Iceland's 9.12 constant LCU per US$ of GDP is above the median for high income countries, which is 0.0891 constant LCU per US$ of GDP, 102.4× the median. (66 countries reporting)
- Iceland's 9.12 constant LCU per US$ of GDP is above the median for Europe & Central Asia, which is 0.0947 constant LCU per US$ of GDP, 96.4× the median. (53 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 19.96 constant LCU per US$ of GDP | 19.49 constant LCU per US$ of GDP | 20.68 constant LCU per US$ of GDP | 5 |
| 2000s | 16.9 constant LCU per US$ of GDP | 11.98 constant LCU per US$ of GDP | 23.23 constant LCU per US$ of GDP | 10 |
| 2010s | 14.44 constant LCU per US$ of GDP | 11.62 constant LCU per US$ of GDP | 17.23 constant LCU per US$ of GDP | 10 |
| 2020s | 11.2 constant LCU per US$ of GDP | 9.12 constant LCU per US$ of GDP | 13.29 constant LCU per US$ of GDP | 6 |
Countries ranked near Iceland
- 41 Vanuatu 12.19 constant LCU per US$ of GDP compare
- 42 Serbia 11.7 constant LCU per US$ of GDP compare
- 43 Albania 9.66 constant LCU per US$ of GDP compare
- 45 Djibouti 9.01 constant LCU per US$ of GDP compare
- 46 Sri Lanka 8.5 constant LCU per US$ of GDP compare
- 47 Kyrgyzstan 7.15 constant LCU per US$ of GDP 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$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is taxes less subsidies on products (constant lcu), per unit of gdp in Iceland?
- Taxes less subsidies on products (constant lcu), per unit of gdp in Iceland was 9.12 constant LCU per US$ of GDP in 2025, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (constant lcu), per unit of gdp recorded in Iceland?
- The highest recorded value was 23.23 constant LCU per US$ of GDP in 2001.
- What is the lowest taxes less subsidies on products (constant lcu), per unit of gdp recorded in Iceland?
- The lowest recorded value was 9.12 constant LCU per US$ of GDP in 2025.
- How does Iceland rank for taxes less subsidies on products (constant lcu), per unit of gdp?
- Iceland ranks 44th out of 189 countries with data for 2025.
- Is taxes less subsidies on products (constant lcu), per unit of gdp rising or falling in Iceland?
- Over the last ten years it is down 40.1%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from Statizoid (derived), published as part of Taxes less subsidies on products (constant LCU), per unit of GDP. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
Taxes less subsidies on products (constant LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Taxes less subsidies on products (constant LCU) ÷ GDP (current US$)
Computed from
- Taxes less subsidies on products Country official statistics, National Statistical Organizations and/or Central Banks
- GDP 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
Taxes less subsidies on products (constant LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.