Deficit, Percent of own spending (Central government) in Iceland
Iceland: Deficit, Percent of own spending (Central government) was -0.3384 in 2020. ◆ Volatile
Deficit, Percent of own spending in Iceland, 1990–2020
Source: International Monetary Fund.
Analysis
The most recent figure for deficit, percent of own spending in Iceland is -0.3384, measured in 2020. That is the lowest value across all 31 years on record.
That represents a change of down 570.4% on the previous year and down 58.9% over ten years.
Over the whole period, deficit, percent of own spending in Iceland peaked at 0.4639 in 2016 and was at its lowest, -0.3384, in 2020.
Iceland ranks 43rd of 66 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Deficit, Percent of own spending (Central government) in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1990 | 0.1261 | — |
| 1991 | 0.037 | -70.6% |
| 1992 | 0.0734 | +98.3% |
| 1993 | 0.0605 | -17.6% |
| 1994 | 0.0662 | +9.3% |
| 1995 | 0.0982 | +48.4% |
| 1996 | 0.1289 | +31.2% |
| 1997 | 0.1943 | +50.7% |
| 1998 | 0.0453 | -76.7% |
| 1999 | 0.1031 | +127.6% |
| 2000 | 0.1031 | -0.0% |
| 2001 | -0.0198 | -119.2% |
| 2002 | -0.0532 | +169.3% |
| 2003 | -0.0741 | +39.3% |
| 2004 | 0.0435 | -158.7% |
| 2005 | 0.1839 | +322.5% |
| 2006 | 0.2224 | +21.0% |
| 2007 | 0.1681 | -24.4% |
| 2008 | -0.2684 | -259.7% |
| 2009 | -0.2187 | -18.5% |
| 2010 | -0.213 | -2.6% |
| 2011 | -0.2238 | +5.1% |
| 2012 | -0.0807 | -63.9% |
| 2013 | -0.0439 | -45.6% |
| 2014 | 0.0487 | -210.9% |
| 2015 | 0.0074 | -84.7% |
| 2016 | 0.4639 | +6126.9% |
| 2017 | 0.1001 | -78.4% |
| 2018 | 0.0592 | -40.8% |
| 2019 | -0.0505 | -185.3% |
| 2020 | -0.3384 | +570.4% |
Iceland compared with similar countries
- Iceland's -0.3384 is below the median for high income countries, which is -0.2946, 1.1× the median. (29 countries reporting)
- Iceland's -0.3384 is below the median for Europe & Central Asia, which is -0.2415, 1.4× the median. (33 countries reporting)
Biggest year-on-year movements
Years where Deficit, Percent of own spending (Central government) in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2016 | +6126.9% | 0.0074 | 0.4639 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.0933 | 0.037 | 0.1943 | 10 |
| 2000s | 0.0087 | -0.2684 | 0.2224 | 10 |
| 2010s | 0.0067 | -0.2238 | 0.4639 | 10 |
| 2020s | -0.3384 | -0.3384 | -0.3384 | 1 |
Countries ranked near Iceland
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 deficit, percent of own spending in Iceland?
- Deficit, percent of own spending in Iceland was -0.3384 in 2020, according to International Monetary Fund.
- What is the highest deficit, percent of own spending recorded in Iceland?
- The highest recorded value was 0.4639 in 2016.
- What is the lowest deficit, percent of own spending recorded in Iceland?
- The lowest recorded value was -0.3384 in 2020.
- How does Iceland rank for deficit, percent of own spending?
- Iceland ranks 43rd out of 66 countries with data for 2020.
- Is deficit, percent of own spending rising or falling in Iceland?
- Over the last ten years it is down 58.9%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from International Monetary Fund, published as part of Deficit, Percent of own spending (Central government). Statizoid updates them automatically from the source API.
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About this data
The Fiscal Decentralization dataset includes fiscal decentralization indicators for a sample of IMF member countries. The following indicators are included in the dataset: Revenue and Expenditure Decentralization Shares; Transfer dependency and Vertical Fiscal Imbalances; Deficit and Debt; Allocation of expenditure (economic classification); Allocation of expenditure (functional classification); Allocation of non-Tax Revenues; and Allocation of Taxes.