Subsidies and other transfers (current LCU) in Iceland
Iceland: Subsidies and other transfers (current LCU) was 411.61 billion current LCU in 2023. ◆ Volatile
Subsidies and other transfers in Iceland, 1990–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2023, subsidies and other transfers in Iceland stood at 411.61 billion current LCU. That is the highest value across all 34 years on record.
That represents a change of up 6.6% on the previous year and up 131.0% over ten years.
Over the whole period, subsidies and other transfers in Iceland peaked at 411.61 billion current LCU in 2023 and was at its lowest, 36.34 billion current LCU, in 1990.
Iceland ranks 59th of 153 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.
Subsidies and other transfers (current LCU) in Iceland, year by year
| Year | current LCU | Change |
|---|---|---|
| 1990 | 36.34 billion current LCU | — |
| 1991 | 40.68 billion current LCU | +11.9% |
| 1992 | 42.87 billion current LCU | +5.4% |
| 1993 | 42.41 billion current LCU | -1.1% |
| 1994 | 43.18 billion current LCU | +1.8% |
| 1995 | 45.09 billion current LCU | +4.4% |
| 1996 | 49.34 billion current LCU | +9.4% |
| 1997 | 49.80 billion current LCU | +0.9% |
| 1998 | 38.39 billion current LCU | -22.9% |
| 1999 | 42.08 billion current LCU | +9.6% |
| 2000 | 45.57 billion current LCU | +8.3% |
| 2001 | 62.32 billion current LCU | +36.8% |
| 2002 | 69.64 billion current LCU | +11.7% |
| 2003 | 80.09 billion current LCU | +15.0% |
| 2004 | 84.59 billion current LCU | +5.6% |
| 2005 | 90.61 billion current LCU | +7.1% |
| 2006 | 96.95 billion current LCU | +7.0% |
| 2007 | 111.55 billion current LCU | +15.1% |
| 2008 | 130.99 billion current LCU | +17.4% |
| 2009 | 163.78 billion current LCU | +25.0% |
| 2010 | 162.84 billion current LCU | -0.6% |
| 2011 | 179.99 billion current LCU | +10.5% |
| 2012 | 176.45 billion current LCU | -2.0% |
| 2013 | 178.19 billion current LCU | +1.0% |
| 2014 | 184.40 billion current LCU | +3.5% |
| 2015 | 187.69 billion current LCU | +1.8% |
| 2016 | 202.51 billion current LCU | +7.9% |
| 2017 | 228.96 billion current LCU | +13.1% |
| 2018 | 251.12 billion current LCU | +9.7% |
| 2019 | 286.67 billion current LCU | +14.2% |
| 2020 | 384.84 billion current LCU | +34.2% |
| 2021 | 393.71 billion current LCU | +2.3% |
| 2022 | 386.16 billion current LCU | -1.9% |
| 2023 | 411.61 billion current LCU | +6.6% |
Iceland compared with similar countries
- Iceland's 411.61 billion current LCU is above the median for high income countries, which is 61.98 billion current LCU, 6.6× the median. (57 countries reporting)
- Iceland's 411.61 billion current LCU is above the median for Europe & Central Asia, which is 139.03 billion current LCU, 3.0× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 43.02 billion current LCU | 36.34 billion current LCU | 49.80 billion current LCU | 10 |
| 2000s | 93.61 billion current LCU | 45.57 billion current LCU | 163.78 billion current LCU | 10 |
| 2010s | 203.88 billion current LCU | 162.84 billion current LCU | 286.67 billion current LCU | 10 |
| 2020s | 394.08 billion current LCU | 384.84 billion current LCU | 411.61 billion current LCU | 4 |
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 subsidies and other transfers in Iceland?
- Subsidies and other transfers in Iceland was 411.61 billion current LCU in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest subsidies and other transfers recorded in Iceland?
- The highest recorded value was 411.61 billion current LCU in 2023.
- What is the lowest subsidies and other transfers recorded in Iceland?
- The lowest recorded value was 36.34 billion current LCU in 1990.
- How does Iceland rank for subsidies and other transfers?
- Iceland ranks 59th out of 153 countries with data for 2023.
- Is subsidies and other transfers rising or falling in Iceland?
- Over the last ten years it is up 131.0%. 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 Subsidies and other transfers (current LCU). Statizoid updates them automatically from the source API.
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About this data
Subsidies are current unrequited payments that government units, including nonresident government units, make to enterprises on the basis of the levels of their production activities or the quantities or values of the goods or services that they produce, sell, export or import. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.