Taxes less subsidies on products (current LCU), annual growth rate in Iceland
Iceland: Taxes less subsidies on products (current LCU), annual growth rate was -1.47 % change on previous year in 2025. ◆ Volatile
Taxes less subsidies on products (current LCU), annual growth rate in Iceland, 1996–2025
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
The most recent figure for taxes less subsidies on products (current lcu), annual growth rate in Iceland is -1.47 % change on previous year, measured in 2025.
Compared with earlier readings it is down 113.2% on the previous year and down 114.5% over ten years.
Over the whole period, taxes less subsidies on products (current lcu), annual growth rate in Iceland peaked at 20.78 % change on previous year in 2005 and was at its lowest, -10.56 % change on previous year, in 2009.
That places Iceland 179th out of 197 countries with data for 2025, putting it 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 (current LCU), annual growth rate in Iceland, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1996 | 10.24 % change on previous year | — |
| 1997 | 5.83 % change on previous year | -43.1% |
| 1998 | 10.03 % change on previous year | +72.1% |
| 1999 | 16.58 % change on previous year | +65.3% |
| 2000 | 2.37 % change on previous year | -85.7% |
| 2001 | -3.87 % change on previous year | -263.2% |
| 2002 | 7.32 % change on previous year | -289.3% |
| 2003 | 9.61 % change on previous year | +31.4% |
| 2004 | 20.02 % change on previous year | +108.3% |
| 2005 | 20.78 % change on previous year | +3.8% |
| 2006 | 14.42 % change on previous year | -30.6% |
| 2007 | 5.84 % change on previous year | -59.5% |
| 2008 | -7.22 % change on previous year | -223.7% |
| 2009 | -10.56 % change on previous year | +46.2% |
| 2010 | 6 % change on previous year | -156.9% |
| 2011 | 6.88 % change on previous year | +14.6% |
| 2012 | 8.78 % change on previous year | +27.7% |
| 2013 | 4.46 % change on previous year | -49.2% |
| 2014 | 6.31 % change on previous year | +41.3% |
| 2015 | 10.15 % change on previous year | +61.0% |
| 2016 | 11.15 % change on previous year | +9.8% |
| 2017 | 12.84 % change on previous year | +15.2% |
| 2018 | 4.6 % change on previous year | -64.2% |
| 2019 | -1.62 % change on previous year | -135.3% |
| 2020 | -4.36 % change on previous year | +168.9% |
| 2021 | 16.26 % change on previous year | -473.1% |
| 2022 | 16.14 % change on previous year | -0.7% |
| 2023 | 15.18 % change on previous year | -5.9% |
| 2024 | 11.14 % change on previous year | -26.6% |
| 2025 | -1.47 % change on previous year | -113.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 10.67 % change on previous year | 5.83 % change on previous year | 16.58 % change on previous year | 4 |
| 2000s | 5.87 % change on previous year | -10.56 % change on previous year | 20.78 % change on previous year | 10 |
| 2010s | 6.96 % change on previous year | -1.62 % change on previous year | 12.84 % change on previous year | 10 |
| 2020s | 8.82 % change on previous year | -4.36 % change on previous year | 16.26 % change on previous year | 6 |
Countries ranked near Iceland
- 176 Costa Rica -0.72 % change on previous year compare
- 177 Congo -0.8078 % change on previous year compare
- 178 Canada -1.45 % change on previous year compare
- 180 Gabon -1.6 % change on previous year compare
- 181 Tonga -3.24 % change on previous year compare
- 182 Bolivia, Plurinational State of -3.49 % 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)
- Exports of goods and services (current LCU), annual growth rate 2.27 % change on previous year (2025)
- Exports of goods and services (current LCU), per unit of GDP 51.52 current LCU per US$ of GDP (2025)
- Exports of goods and services (current LCU), per capita 5.07 million current LCU per person (2025)
- Exports of goods and services (constant 2015 US$), annual growth rate 0.9908 % change on previous year (2025)
- Exports of goods and services (constant 2015 US$), per unit of GDP 0.274 constant 2015 US$ per US$ of GDP (2025)
- Exports of goods and services (constant 2015 US$), per capita 26,937 constant 2015 US$ per person (2025)
- Gross fixed capital formation (current US$), annual growth rate 15.75 % change on previous year (2025)
- Gross fixed capital formation (current US$), per unit of GDP 0.2666 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is taxes less subsidies on products (current lcu), annual growth rate in Iceland?
- Taxes less subsidies on products (current lcu), annual growth rate in Iceland was -1.47 % change on previous year in 2025, according to Statizoid (derived).
- What is the highest taxes less subsidies on products (current lcu), annual growth rate recorded in Iceland?
- The highest recorded value was 20.78 % change on previous year in 2005.
- What is the lowest taxes less subsidies on products (current lcu), annual growth rate recorded in Iceland?
- The lowest recorded value was -10.56 % change on previous year in 2009.
- How does Iceland rank for taxes less subsidies on products (current lcu), annual growth rate?
- Iceland ranks 179th out of 197 countries with data for 2025.
- Is taxes less subsidies on products (current lcu), annual growth rate rising or falling in Iceland?
- Over the last ten years it is down 114.5%. 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 (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
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How this figure is calculated
The year-on-year percentage change in Taxes less subsidies on products (current 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 (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.