Subsidies and other transfers in Iceland
Iceland: Subsidies and other transfers was 29.4% in 2023. ▼ Falling
Subsidies and other transfers in Iceland, 1990–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
Iceland recorded 29.4% for subsidies and other transfers in 2023.
Compared with earlier readings it is down 2.3% on the previous year and up 12.5% over ten years.
Over the whole period, subsidies and other transfers in Iceland peaked at 35.5% in 2020 and was at its lowest, 16.2%, in 2008.
Iceland ranks 102nd of 152 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 34 years of available data.
Subsidies and other transfers in Iceland, year by year
| Year | % of expense | Change |
|---|---|---|
| 1990 | 32.8% | — |
| 1991 | 32.5% | -0.7% |
| 1992 | 33.8% | +4.0% |
| 1993 | 33.3% | -1.7% |
| 1994 | 32.1% | -3.4% |
| 1995 | 32.4% | +0.6% |
| 1996 | 33.4% | +3.2% |
| 1997 | 34.1% | +2.1% |
| 1998 | 21.7% | -36.3% |
| 1999 | 21.7% | -0.2% |
| 2000 | 21.9% | +1.0% |
| 2001 | 26.3% | +20.0% |
| 2002 | 26.8% | +2.0% |
| 2003 | 28.6% | +6.8% |
| 2004 | 28.6% | -0.1% |
| 2005 | 25.6% | -10.3% |
| 2006 | 24.2% | -5.4% |
| 2007 | 24.8% | +2.5% |
| 2008 | 16.2% | -34.7% |
| 2009 | 24.2% | +49.1% |
| 2010 | 25.5% | +5.6% |
| 2011 | 26.5% | +3.9% |
| 2012 | 25.8% | -2.7% |
| 2013 | 26.1% | +1.2% |
| 2014 | 25.7% | -1.3% |
| 2015 | 25.2% | -2.0% |
| 2016 | 22.7% | -9.9% |
| 2017 | 27.6% | +21.3% |
| 2018 | 28.6% | +3.8% |
| 2019 | 30.5% | +6.6% |
| 2020 | 35.5% | +16.4% |
| 2021 | 34.1% | -3.9% |
| 2022 | 30.1% | -11.8% |
| 2023 | 29.4% | -2.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 30.8% | 21.7% | 34.1% | 10 |
| 2000s | 24.7% | 16.2% | 28.6% | 10 |
| 2010s | 26.4% | 22.7% | 30.5% | 10 |
| 2020s | 32.2% | 29.4% | 35.5% | 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 subsidies and other transfers in Iceland?
- Subsidies and other transfers in Iceland was 29.4% 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 35.5% in 2020.
- What is the lowest subsidies and other transfers recorded in Iceland?
- The lowest recorded value was 16.2% in 2008.
- How does Iceland rank for subsidies and other transfers?
- Iceland ranks 102nd out of 152 countries with data for 2023.
- Is subsidies and other transfers rising or falling in Iceland?
- Over the last ten years it is up 12.5%. 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 Subsidies and other transfers (% of expense). 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 as percentage of total expenses which is any decrease in net worth resulting from a transaction.