Taxes less subsidies on products in Iceland
Iceland: Taxes less subsidies on products was 3.88 billion current US$ 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 current US$.
Analysis
Iceland recorded 3.88 billion current US$ for taxes less subsidies on products in 2025. That is the highest value across all 31 years on record.
The figure is up 5.8% on the previous year and up 115.9% over ten years.
Over the whole period, taxes less subsidies on products in Iceland peaked at 3.88 billion current US$ in 2025 and was at its lowest, 942.45 million current US$, in 2001.
That places Iceland 88th out of 197 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Taxes less subsidies on products in Iceland, year by year
| Year | current US$ | Change |
|---|---|---|
| 1995 | 963.73 million current US$ | — |
| 1996 | 1.03 billion current US$ | +7.2% |
| 1997 | 1.03 billion current US$ | -0.7% |
| 1998 | 1.13 billion current US$ | +9.9% |
| 1999 | 1.29 billion current US$ | +14.4% |
| 2000 | 1.21 billion current US$ | -5.8% |
| 2001 | 942.45 million current US$ | -22.4% |
| 2002 | 1.08 billion current US$ | +14.1% |
| 2003 | 1.41 billion current US$ | +31.0% |
| 2004 | 1.85 billion current US$ | +31.2% |
| 2005 | 2.49 billion current US$ | +34.6% |
| 2006 | 2.55 billion current US$ | +2.7% |
| 2007 | 2.96 billion current US$ | +16.0% |
| 2008 | 2.00 billion current US$ | -32.4% |
| 2009 | 1.27 billion current US$ | -36.4% |
| 2010 | 1.36 billion current US$ | +7.2% |
| 2011 | 1.54 billion current US$ | +12.7% |
| 2012 | 1.55 billion current US$ | +0.8% |
| 2013 | 1.66 billion current US$ | +6.9% |
| 2014 | 1.84 billion current US$ | +11.2% |
| 2015 | 1.80 billion current US$ | -2.5% |
| 2016 | 2.18 billion current US$ | +21.4% |
| 2017 | 2.78 billion current US$ | +27.6% |
| 2018 | 2.87 billion current US$ | +3.2% |
| 2019 | 2.50 billion current US$ | -13.1% |
| 2020 | 2.16 billion current US$ | -13.4% |
| 2021 | 2.68 billion current US$ | +24.0% |
| 2022 | 2.92 billion current US$ | +9.0% |
| 2023 | 3.30 billion current US$ | +13.0% |
| 2024 | 3.67 billion current US$ | +11.1% |
| 2025 | 3.88 billion current US$ | +5.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.09 billion current US$ | 963.73 million current US$ | 1.29 billion current US$ | 5 |
| 2000s | 1.78 billion current US$ | 942.45 million current US$ | 2.96 billion current US$ | 10 |
| 2010s | 2.01 billion current US$ | 1.36 billion current US$ | 2.87 billion current US$ | 10 |
| 2020s | 3.10 billion current US$ | 2.16 billion current US$ | 3.88 billion current US$ | 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 domestic savings (current US$), annual growth rate 13.17 % change on previous year (2025)
- Gross domestic savings (current US$), per unit of GDP 0.2431 current US$ per US$ of GDP (2025)
- Gross domestic savings (current US$), per capita 23,906 current US$ per person (2025)
- Gross domestic savings (current LCU), annual growth rate 5.36 % change on previous year (2025)
- Gross domestic savings (current LCU), per unit of GDP 31.23 current LCU per US$ of GDP (2025)
- Gross domestic savings (current LCU), per capita 3.07 million current LCU per person (2025)
- GNI, Atlas method (current US$), annual growth rate 11.95 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 0.9074 current 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 3.88 billion current US$ 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 3.88 billion current US$ in 2025.
- What is the lowest taxes less subsidies on products recorded in Iceland?
- The lowest recorded value was 942.45 million current US$ in 2001.
- How does Iceland rank for taxes less subsidies on products?
- Iceland ranks 88th 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 115.9%. 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 (current US$). Statizoid updates them automatically from the source API.
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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 indicator is expressed in United States dollars.