Taxes less subsidies on products in Iceland
Iceland: Taxes less subsidies on products was 498.69 billion current LCU in 2025. ◆ Volatile
Taxes less subsidies on products in Iceland, 1995–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
In 2025, taxes less subsidies on products in Iceland stood at 498.69 billion current LCU.
That represents a change of down 1.5% on the previous year and up 110.2% over ten years.
Over the whole period, taxes less subsidies on products in Iceland peaked at 506.12 billion current LCU in 2024 and was at its lowest, 62.34 billion current LCU, in 1995.
That places Iceland 58th out of 197 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes less subsidies on products in Iceland, year by year
| Year | current LCU | Change |
|---|---|---|
| 1995 | 62.34 billion current LCU | — |
| 1996 | 68.73 billion current LCU | +10.2% |
| 1997 | 72.73 billion current LCU | +5.8% |
| 1998 | 80.03 billion current LCU | +10.0% |
| 1999 | 93.30 billion current LCU | +16.6% |
| 2000 | 95.51 billion current LCU | +2.4% |
| 2001 | 91.82 billion current LCU | -3.9% |
| 2002 | 98.54 billion current LCU | +7.3% |
| 2003 | 108.01 billion current LCU | +9.6% |
| 2004 | 129.63 billion current LCU | +20.0% |
| 2005 | 156.57 billion current LCU | +20.8% |
| 2006 | 179.16 billion current LCU | +14.4% |
| 2007 | 189.62 billion current LCU | +5.8% |
| 2008 | 175.92 billion current LCU | -7.2% |
| 2009 | 157.34 billion current LCU | -10.6% |
| 2010 | 166.79 billion current LCU | +6.0% |
| 2011 | 178.26 billion current LCU | +6.9% |
| 2012 | 193.92 billion current LCU | +8.8% |
| 2013 | 202.58 billion current LCU | +4.5% |
| 2014 | 215.35 billion current LCU | +6.3% |
| 2015 | 237.22 billion current LCU | +10.2% |
| 2016 | 263.66 billion current LCU | +11.1% |
| 2017 | 297.51 billion current LCU | +12.8% |
| 2018 | 311.19 billion current LCU | +4.6% |
| 2019 | 306.14 billion current LCU | -1.6% |
| 2020 | 292.80 billion current LCU | -4.4% |
| 2021 | 340.42 billion current LCU | +16.3% |
| 2022 | 395.36 billion current LCU | +16.1% |
| 2023 | 455.38 billion current LCU | +15.2% |
| 2024 | 506.12 billion current LCU | +11.1% |
| 2025 | 498.69 billion current LCU | -1.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 75.43 billion current LCU | 62.34 billion current LCU | 93.30 billion current LCU | 5 |
| 2000s | 138.21 billion current LCU | 91.82 billion current LCU | 189.62 billion current LCU | 10 |
| 2010s | 237.26 billion current LCU | 166.79 billion current LCU | 311.19 billion current LCU | 10 |
| 2020s | 414.79 billion current LCU | 292.80 billion current LCU | 506.12 billion current 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)
- Gross value added at basic prices (GVA) (current LCU), annual growth 9.45 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 115.52 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 11.36 million current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5382 constant 2015 US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per 52,920 constant 2015 US$ per person (2025)
- Gross value added at basic prices (GVA) (constant LCU), annual growth 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant LCU), per unit of 83.85 constant LCU 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 498.69 billion current 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 506.12 billion current LCU in 2024.
- What is the lowest taxes less subsidies on products recorded in Iceland?
- The lowest recorded value was 62.34 billion current LCU in 1995.
- How does Iceland rank for taxes less subsidies on products?
- Iceland ranks 58th out of 197 countries with data for 2025.
- Is taxes less subsidies on products rising or falling in Iceland?
- Over the last ten years it is up 110.2%. The long-run trend across the full record is volatile.
- 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 (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Taxes less subsidies on products are taxes payable per unit of a good or service. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.