Interest payments in Iceland
Iceland: Interest payments was 14.9% in 2023. ◆ Volatile
Interest payments in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
Iceland recorded 14.9% for interest payments in 2023.
The figure is down 8.6% on the previous year and down 35.5% over ten years.
Over the whole period, interest payments in Iceland peaked at 34.2% in 2009 and was at its lowest, 2.9%, in 1972.
Iceland ranks 29th of 155 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Interest payments in Iceland, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1972 | 2.9% | — |
| 1973 | 3.4% | +18.6% |
| 1974 | 3.8% | +9.4% |
| 1975 | 6.8% | +81.6% |
| 1976 | 5.6% | -18.5% |
| 1977 | 6.1% | +9.5% |
| 1978 | 7.6% | +24.6% |
| 1979 | 8.0% | +5.2% |
| 1980 | 5.9% | -25.6% |
| 1981 | 6.4% | +7.8% |
| 1982 | 7.2% | +13.1% |
| 1983 | 9.4% | +29.4% |
| 1984 | 10.3% | +9.6% |
| 1985 | 11.5% | +12.2% |
| 1986 | 10.8% | -5.9% |
| 1987 | 7.9% | -27.3% |
| 1988 | 9.8% | +24.3% |
| 1989 | 10.2% | +4.3% |
| 1990 | 10.6% | +3.7% |
| 1991 | 11.1% | +4.9% |
| 1992 | 10.6% | -4.9% |
| 1993 | 11.2% | +5.9% |
| 1994 | 11.4% | +2.1% |
| 1995 | 12.2% | +6.8% |
| 1996 | 10.5% | -13.7% |
| 1997 | 10.1% | -3.9% |
| 1998 | 10.2% | +0.2% |
| 1999 | 9.4% | -7.3% |
| 2000 | 8.6% | -8.4% |
| 2001 | 9.0% | +4.0% |
| 2002 | 7.9% | -12.3% |
| 2003 | 7.0% | -10.8% |
| 2004 | 6.0% | -14.3% |
| 2005 | 13.1% | +118.0% |
| 2006 | 14.5% | +10.9% |
| 2007 | 15.6% | +7.1% |
| 2008 | 27.7% | +78.2% |
| 2009 | 34.2% | +23.4% |
| 2010 | 24.4% | -28.6% |
| 2011 | 25.4% | +3.9% |
| 2012 | 25.1% | -1.3% |
| 2013 | 23.2% | -7.6% |
| 2014 | 18.5% | -20.2% |
| 2015 | 19.9% | +7.7% |
| 2016 | 11.8% | -40.8% |
| 2017 | 15.8% | +33.8% |
| 2018 | 13.9% | -12.2% |
| 2019 | 13.1% | -5.7% |
| 2020 | 12.1% | -7.1% |
| 2021 | 12.4% | +1.8% |
| 2022 | 16.3% | +32.3% |
| 2023 | 14.9% | -8.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.5% | 2.9% | 8.0% | 8 |
| 1980s | 8.9% | 5.9% | 11.5% | 10 |
| 1990s | 10.7% | 9.4% | 12.2% | 10 |
| 2000s | 14.4% | 6.0% | 34.2% | 10 |
| 2010s | 19.1% | 11.8% | 25.4% | 10 |
| 2020s | 13.9% | 12.1% | 16.3% | 4 |
Countries ranked near Iceland
- 26 Costa Rica 16.6% compare
- 27 Malaysia 15.6% compare
- 28 Mozambique 15.1% compare
- 30 Namibia 14.7% compare
- 31 El Salvador 14.3% compare
- 32 Papua New Guinea 14.2% compare
More public sector data for Iceland
- 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)
- Tax revenue 23.2% (2023)
- Capital stock, General government, Current prices, Domestic currency 1,595 (2019)
- Taxes on income, profits and capital gains 34.6% (2023)
- Capital stock, General government, Constant prices, Percent of GDP 51.25 (2019)
- Capital stock, General government, Constant prices, Purchasing power 10.26 (2019)
- Taxes on goods and services 35.2% (2023)
Frequently asked questions
- What is interest payments in Iceland?
- Interest payments in Iceland was 14.9% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest interest payments recorded in Iceland?
- The highest recorded value was 34.2% in 2009.
- What is the lowest interest payments recorded in Iceland?
- The lowest recorded value was 2.9% in 1972.
- How does Iceland rank for interest payments?
- Iceland ranks 29th out of 155 countries with data for 2023.
- Is interest payments rising or falling in Iceland?
- Over the last ten years it is down 35.5%. The long-run trend across the full record is volatile.
- 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 Interest payments (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Interest payments include interest payments on government debt (including long-term bonds, long-term loans, and other debt instruments) to domestic and foreign residents. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.