Taxes less subsidies on products in Iceland
Iceland: Taxes less subsidies on products was 352.05 billion constant LCU in 2025. ▲ Rising
Taxes less subsidies on products in Iceland, 1995–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
In 2025, taxes less subsidies on products in Iceland stood at 352.05 billion constant LCU.
That represents a change of up 1.3% on the previous year and up 30.6% over ten years.
Over the whole period, taxes less subsidies on products in Iceland peaked at 352.12 billion constant LCU in 2023 and was at its lowest, 146.68 billion constant LCU, in 1995.
Iceland ranks 51st of 187 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Taxes less subsidies on products in Iceland, year by year
| Year | constant LCU | Change |
|---|---|---|
| 1995 | 146.68 billion constant LCU | — |
| 1996 | 153.27 billion constant LCU | +4.5% |
| 1997 | 159.62 billion constant LCU | +4.1% |
| 1998 | 170.81 billion constant LCU | +7.0% |
| 1999 | 177.47 billion constant LCU | +3.9% |
| 2000 | 186.17 billion constant LCU | +4.9% |
| 2001 | 193.32 billion constant LCU | +3.8% |
| 2002 | 194.37 billion constant LCU | +0.5% |
| 2003 | 198.81 billion constant LCU | +2.3% |
| 2004 | 213.96 billion constant LCU | +7.6% |
| 2005 | 229.00 billion constant LCU | +7.0% |
| 2006 | 241.99 billion constant LCU | +5.7% |
| 2007 | 263.14 billion constant LCU | +8.7% |
| 2008 | 267.61 billion constant LCU | +1.7% |
| 2009 | 245.34 billion constant LCU | -8.3% |
| 2010 | 239.89 billion constant LCU | -2.2% |
| 2011 | 243.20 billion constant LCU | +1.4% |
| 2012 | 246.05 billion constant LCU | +1.2% |
| 2013 | 254.90 billion constant LCU | +3.6% |
| 2014 | 259.78 billion constant LCU | +1.9% |
| 2015 | 269.57 billion constant LCU | +3.8% |
| 2016 | 286.33 billion constant LCU | +6.2% |
| 2017 | 296.31 billion constant LCU | +3.5% |
| 2018 | 310.12 billion constant LCU | +4.7% |
| 2019 | 313.65 billion constant LCU | +1.1% |
| 2020 | 292.80 billion constant LCU | -6.6% |
| 2021 | 307.97 billion constant LCU | +5.2% |
| 2022 | 335.25 billion constant LCU | +8.9% |
| 2023 | 352.12 billion constant LCU | +5.0% |
| 2024 | 347.60 billion constant LCU | -1.3% |
| 2025 | 352.05 billion constant LCU | +1.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 161.57 billion constant LCU | 146.68 billion constant LCU | 177.47 billion constant LCU | 5 |
| 2000s | 223.37 billion constant LCU | 186.17 billion constant LCU | 267.61 billion constant LCU | 10 |
| 2010s | 271.98 billion constant LCU | 239.89 billion constant LCU | 313.65 billion constant LCU | 10 |
| 2020s | 331.30 billion constant LCU | 292.80 billion constant LCU | 352.12 billion constant LCU | 6 |
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)
- 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)
- Services, value added (current US$), per capita 65,116 current US$ per person (2025)
- Services, value added (current LCU), annual growth rate 9.72 % change on previous year (2025)
- Services, value added (current LCU), per unit of GDP 85.06 current LCU per US$ of GDP (2025)
- Services, value added (current LCU), per capita 8.36 million current LCU per person (2025)
- Services, value added (constant 2015 US$), annual growth rate 2.16 % change on previous year (2025)
- Services, value added (constant 2015 US$), per unit of GDP 0.3978 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is taxes less subsidies on products in Iceland?
- Taxes less subsidies on products in Iceland was 352.05 billion constant LCU in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest taxes less subsidies on products recorded in Iceland?
- The highest recorded value was 352.12 billion constant LCU in 2023.
- What is the lowest taxes less subsidies on products recorded in Iceland?
- The lowest recorded value was 146.68 billion constant LCU in 1995.
- How does Iceland rank for taxes less subsidies on products?
- Iceland ranks 51st out of 187 countries with data for 2025.
- Is taxes less subsidies on products rising or falling in Iceland?
- Over the last ten years it is up 30.6%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Taxes less subsidies on products (constant LCU). Statizoid updates them automatically from the source API.
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About this data
Taxes less subsidies on products are taxes payable per unit of a good or service. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.