Net lending (+) / net borrowing (-) in Iceland
Iceland: Net lending (+) / net borrowing (-) was -1.1% in 2023. ◆ Volatile
Net lending (+) / net borrowing (-) in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Iceland recorded -1.1% for net lending (+) / net borrowing (-) in 2023.
That represents a change of up 57.8% on the previous year and down 34.6% over ten years.
Over the whole period, net lending (+) / net borrowing (-) in Iceland peaked at 12.4% in 2016 and was at its lowest, -11.2%, in 2008.
Iceland ranks 49th of 156 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.
Net lending (+) / net borrowing (-) in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 0.6% | — |
| 1973 | -0.1% | -109.3% |
| 1974 | -2.2% | +3793.3% |
| 1975 | -2.2% | +2.8% |
| 1976 | 1.0% | -145.2% |
| 1977 | -0.3% | -131.7% |
| 1978 | -0.0% | -96.4% |
| 1979 | -0.1% | +1050.6% |
| 1980 | 0.5% | -445.7% |
| 1981 | 0.9% | +104.8% |
| 1982 | 0.8% | -16.1% |
| 1983 | -2.2% | -386.6% |
| 1984 | 0.9% | -142.1% |
| 1985 | -1.8% | -291.3% |
| 1986 | -3.8% | +112.1% |
| 1987 | -2.1% | -44.9% |
| 1988 | -3.3% | +56.6% |
| 1989 | -3.2% | -1.1% |
| 1990 | -2.5% | -23.3% |
| 1991 | -3.6% | +43.4% |
| 1992 | -2.5% | -29.4% |
| 1993 | -2.9% | +16.3% |
| 1994 | -2.8% | -5.8% |
| 1995 | -2.3% | -15.5% |
| 1996 | -1.1% | -52.7% |
| 1997 | 0.4% | -136.6% |
| 1998 | 1.2% | +186.0% |
| 1999 | 2.6% | +129.2% |
| 2000 | 2.6% | -2.6% |
| 2001 | -0.1% | -102.2% |
| 2002 | -1.2% | +1957.0% |
| 2003 | -2.0% | +66.4% |
| 2004 | 0.8% | -138.6% |
| 2005 | 4.9% | +544.3% |
| 2006 | 6.1% | +25.5% |
| 2007 | 5.0% | -19.0% |
| 2008 | -11.2% | -326.7% |
| 2009 | -7.6% | -32.0% |
| 2010 | -5.8% | -23.8% |
| 2011 | -6.2% | +6.2% |
| 2012 | -2.1% | -65.8% |
| 2013 | -0.8% | -62.1% |
| 2014 | 1.1% | -241.0% |
| 2015 | 0.2% | -80.4% |
| 2016 | 12.4% | +5518.4% |
| 2017 | 2.2% | -81.9% |
| 2018 | 1.5% | -33.5% |
| 2019 | -0.9% | -160.8% |
| 2020 | -7.9% | +767.3% |
| 2021 | -7.1% | -10.1% |
| 2022 | -2.6% | -64.0% |
| 2023 | -1.1% | -57.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -0.4% | -2.2% | 1.0% | 8 |
| 1980s | -1.3% | -3.8% | 0.9% | 10 |
| 1990s | -1.3% | -3.6% | 2.6% | 10 |
| 2000s | -0.3% | -11.2% | 6.1% | 10 |
| 2010s | 0.2% | -6.2% | 12.4% | 10 |
| 2020s | -4.6% | -7.9% | -1.1% | 4 |
Countries ranked near Iceland
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 net lending (+) / net borrowing (-) in Iceland?
- Net lending (+) / net borrowing (-) in Iceland was -1.1% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net lending (+) / net borrowing (-) recorded in Iceland?
- The highest recorded value was 12.4% in 2016.
- What is the lowest net lending (+) / net borrowing (-) recorded in Iceland?
- The lowest recorded value was -11.2% in 2008.
- How does Iceland rank for net lending (+) / net borrowing (-)?
- Iceland ranks 49th out of 156 countries with data for 2023.
- Is net lending (+) / net borrowing (-) rising or falling in Iceland?
- Over the last ten years it is down 34.6%. 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 Net lending (+) / net borrowing (-) (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Net lending (+) / net borrowing (–) equals government revenue minus expense, minus net investment in nonfinancial assets. It is also equal to the net result of transactions in financial assets and liabilities. Net lending/net borrowing is a summary measure indicating the extent to which government is either putting financial resources at the disposal of other sectors in the economy or abroad, or utilizing the financial resources generated by other sectors in the economy or from abroad. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.