Compensation of employees (% of expense) in Iceland
Iceland: Compensation of employees (% of expense) was 23.8% in 2023. ▼ Falling
Compensation of employees in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
In 2023, compensation of employees in Iceland stood at 23.8%.
Compared with earlier readings it is down 4.2% on the previous year and up 8.7% over ten years.
Over the whole period, compensation of employees in Iceland peaked at 35.3% in 1987 and was at its lowest, 15.8%, in 2008.
Iceland ranks 82nd of 155 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 47 years of available data.
Compensation of employees (% of expense) in Iceland, year by year
| Year | % of expense | Change |
|---|---|---|
| 1972 | 26.7% | — |
| 1973 | 26.8% | +0.5% |
| 1974 | 25.7% | -4.3% |
| 1975 | 24.5% | -4.7% |
| 1976 | 26.7% | +9.0% |
| 1977 | 28.6% | +7.3% |
| 1978 | 29.2% | +2.2% |
| 1979 | 27.8% | -4.8% |
| 1980 | 29.4% | +5.8% |
| 1981 | 28.8% | -2.0% |
| 1987 | 35.3% | +22.5% |
| 1988 | 34.0% | -3.7% |
| 1989 | 27.4% | -19.4% |
| 1990 | 29.6% | +8.0% |
| 1991 | 30.0% | +1.1% |
| 1992 | 29.7% | -0.7% |
| 1993 | 31.0% | +4.2% |
| 1994 | 30.1% | -2.9% |
| 1995 | 31.1% | +3.4% |
| 1996 | 30.5% | -1.9% |
| 1997 | 30.5% | -0.1% |
| 1998 | 30.9% | +1.4% |
| 1999 | 29.6% | -4.2% |
| 2000 | 29.2% | -1.3% |
| 2001 | 29.8% | +1.9% |
| 2002 | 31.3% | +5.1% |
| 2003 | 31.2% | -0.4% |
| 2004 | 31.4% | +0.7% |
| 2005 | 27.4% | -12.8% |
| 2006 | 26.6% | -2.7% |
| 2007 | 25.5% | -4.1% |
| 2008 | 15.8% | -38.2% |
| 2009 | 19.0% | +20.6% |
| 2010 | 20.5% | +7.8% |
| 2011 | 19.5% | -4.8% |
| 2012 | 20.6% | +5.5% |
| 2013 | 21.9% | +6.5% |
| 2014 | 22.2% | +0.9% |
| 2015 | 23.6% | +6.5% |
| 2016 | 21.7% | -8.2% |
| 2017 | 25.8% | +19.0% |
| 2018 | 26.2% | +1.7% |
| 2019 | 26.4% | +0.6% |
| 2020 | 24.2% | -8.0% |
| 2021 | 24.5% | +1.0% |
| 2022 | 24.9% | +1.7% |
| 2023 | 23.8% | -4.2% |
Iceland compared with similar countries
- Iceland's 23.8% is above the median for high income countries, which is 18.9%, 1.3× the median. (56 countries reporting)
- Iceland's 23.8% is above the median for Europe & Central Asia, which is 16.4%, 1.5× the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 27.0% | 24.5% | 29.2% | 8 |
| 1980s | 31.0% | 27.4% | 35.3% | 5 |
| 1990s | 30.3% | 29.6% | 31.1% | 10 |
| 2000s | 26.7% | 15.8% | 31.4% | 10 |
| 2010s | 22.8% | 19.5% | 26.4% | 10 |
| 2020s | 24.4% | 23.8% | 24.9% | 4 |
Countries ranked near Iceland
- 79 Tajikistan 24.8% compare
- 80 Barbados 24.7% compare
- 81 Kuwait 24.2% compare
- 83 San Marino 23.5% compare
- 84 Cote d'Ivoire 23.3% compare
- 85 Thailand 22.6% compare
More public sector data for Iceland
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Military expenditure (current USD), per capita 0 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0 current USD per US$ of GDP (2024)
- Military expenditure (current USD), gaps filled 0 current USD (2024)
- Military expenditure (current USD), per square kilometre 0 current USD per square kilometre (2023)
Frequently asked questions
- What is compensation of employees in Iceland?
- Compensation of employees in Iceland was 23.8% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest compensation of employees recorded in Iceland?
- The highest recorded value was 35.3% in 1987.
- What is the lowest compensation of employees recorded in Iceland?
- The lowest recorded value was 15.8% in 2008.
- How does Iceland rank for compensation of employees?
- Iceland ranks 82nd out of 155 countries with data for 2023.
- Is compensation of employees rising or falling in Iceland?
- Over the last ten years it is up 8.7%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Compensation of employees (% of expense). Statizoid updates them automatically from the source API.
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About this data
Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.