Taxes on goods and services (current LCU), annual growth rate in Iceland
Iceland: Taxes on goods and services (current LCU), annual growth rate was 13.12 % change on previous year in 2023. ◆ Volatile
Taxes on goods and services (current LCU), annual growth rate in Iceland, 1973–2023
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2023, taxes on goods and services (current lcu), annual growth rate in Iceland stood at 13.12 % change on previous year.
Compared with earlier readings it is down 20.1% on the previous year and up 202.5% over ten years.
Over the whole period, taxes on goods and services (current lcu), annual growth rate in Iceland peaked at 82.18 % change on previous year in 1974 and was at its lowest, -8.97 % change on previous year, in 2009.
That places Iceland 61st out of 156 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes on goods and services (current LCU), annual growth rate in Iceland, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1973 | 37.86 % change on previous year | — |
| 1974 | 82.18 % change on previous year | +117.1% |
| 1975 | 61.62 % change on previous year | -25.0% |
| 1976 | 36.28 % change on previous year | -41.1% |
| 1977 | 38.09 % change on previous year | +5.0% |
| 1978 | 50.57 % change on previous year | +32.8% |
| 1979 | 48.36 % change on previous year | -4.4% |
| 1980 | 68.25 % change on previous year | +41.1% |
| 1981 | 64.37 % change on previous year | -5.7% |
| 1982 | 61.07 % change on previous year | -5.1% |
| 1983 | 59.63 % change on previous year | -2.4% |
| 1984 | 38.14 % change on previous year | -36.0% |
| 1985 | 38.28 % change on previous year | +0.4% |
| 1986 | 31.94 % change on previous year | -16.6% |
| 1987 | 35.82 % change on previous year | +12.1% |
| 1988 | 34.11 % change on previous year | -4.8% |
| 1989 | 19.07 % change on previous year | -44.1% |
| 1990 | 9.83 % change on previous year | -48.4% |
| 1991 | 6.22 % change on previous year | -36.7% |
| 1992 | 2.87 % change on previous year | -53.8% |
| 1993 | 7.07 % change on previous year | +146.4% |
| 1994 | 10.93 % change on previous year | +54.4% |
| 1995 | 3.18 % change on previous year | -70.9% |
| 1996 | 10 % change on previous year | +213.9% |
| 1997 | 6.1 % change on previous year | -38.9% |
| 1998 | 21.03 % change on previous year | +244.6% |
| 1999 | 13.06 % change on previous year | -37.9% |
| 2000 | 2.55 % change on previous year | -80.5% |
| 2001 | -2.86 % change on previous year | -212.2% |
| 2002 | 7.5 % change on previous year | -362.1% |
| 2003 | 8.73 % change on previous year | +16.4% |
| 2004 | 17.6 % change on previous year | +101.6% |
| 2005 | 17.75 % change on previous year | +0.8% |
| 2006 | 11.29 % change on previous year | -36.4% |
| 2007 | 6.23 % change on previous year | -44.8% |
| 2008 | -6.16 % change on previous year | -198.9% |
| 2009 | -8.97 % change on previous year | +45.5% |
| 2010 | 5.59 % change on previous year | -162.3% |
| 2011 | 6.28 % change on previous year | +12.5% |
| 2012 | 8.41 % change on previous year | +33.9% |
| 2013 | 4.34 % change on previous year | -48.5% |
| 2014 | 5.86 % change on previous year | +35.2% |
| 2015 | 9.94 % change on previous year | +69.6% |
| 2016 | 10.82 % change on previous year | +8.9% |
| 2017 | 12.37 % change on previous year | +14.3% |
| 2018 | 4.45 % change on previous year | -64.0% |
| 2019 | 0.0934 % change on previous year | -97.9% |
| 2020 | -3.09 % change on previous year | -3413.7% |
| 2021 | 12.93 % change on previous year | -518.0% |
| 2022 | 16.41 % change on previous year | +26.9% |
| 2023 | 13.12 % change on previous year | -20.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 50.71 % change on previous year | 36.28 % change on previous year | 82.18 % change on previous year | 7 |
| 1980s | 45.07 % change on previous year | 19.07 % change on previous year | 68.25 % change on previous year | 10 |
| 1990s | 9.03 % change on previous year | 2.87 % change on previous year | 21.03 % change on previous year | 10 |
| 2000s | 5.37 % change on previous year | -8.97 % change on previous year | 17.75 % change on previous year | 10 |
| 2010s | 6.82 % change on previous year | 0.0934 % change on previous year | 12.37 % change on previous year | 10 |
| 2020s | 9.84 % change on previous year | -3.09 % change on previous year | 16.41 % change on previous year | 4 |
Countries ranked near Iceland
- 58 Nicaragua 13.53 % change on previous year compare
- 59 United States of America 13.51 % change on previous year compare
- 60 Tunisia 13.15 % change on previous year compare
- 62 Congo, Democratic Republic of the 12.33 % change on previous year compare
- 63 Mexico 12.04 % change on previous year compare
- 64 Burundi 11.85 % change on previous year 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 taxes on goods and services (current lcu), annual growth rate in Iceland?
- Taxes on goods and services (current lcu), annual growth rate in Iceland was 13.12 % change on previous year in 2023, according to Statizoid (derived).
- What is the highest taxes on goods and services (current lcu), annual growth rate recorded in Iceland?
- The highest recorded value was 82.18 % change on previous year in 1974.
- What is the lowest taxes on goods and services (current lcu), annual growth rate recorded in Iceland?
- The lowest recorded value was -8.97 % change on previous year in 2009.
- How does Iceland rank for taxes on goods and services (current lcu), annual growth rate?
- Iceland ranks 61st out of 156 countries with data for 2023.
- Is taxes on goods and services (current lcu), annual growth rate rising or falling in Iceland?
- Over the last ten years it is up 202.5%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Statizoid (derived), published as part of Taxes on goods and services (current LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
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How this figure is calculated
The year-on-year percentage change in Taxes on goods and services (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Taxes on goods and services Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Taxes on goods and services (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.