Taxes on goods and services (current LCU), per unit of GDP in Iceland
Iceland: Taxes on goods and services (current LCU), per unit of GDP was 15.35 current LCU per US$ of GDP in 2023. ◆ Volatile
Taxes on goods and services (current LCU), per unit of GDP in Iceland, 1972–2023
Source: Statizoid (derived). Measured in current LCU per US$ of GDP.
Analysis
The most recent figure for taxes on goods and services (current lcu), per unit of gdp in Iceland is 15.35 current LCU per US$ of GDP, measured in 2023. That is the highest value across all 52 years on record.
The figure is up 4.1% on the previous year and up 11.9% over ten years.
Over the whole period, taxes on goods and services (current lcu), per unit of gdp in Iceland peaked at 15.35 current LCU per US$ of GDP in 2023 and was at its lowest, 0.0796 current LCU per US$ of GDP, in 1972.
That places Iceland 38th out of 157 countries with data for 2023, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes on goods and services (current LCU), per unit of GDP in Iceland, year by year
| Year | current LCU per US$ of GDP | Change |
|---|---|---|
| 1972 | 0.0796 current LCU per US$ of GDP | — |
| 1973 | 0.0798 current LCU per US$ of GDP | +0.3% |
| 1974 | 0.1108 current LCU per US$ of GDP | +38.8% |
| 1975 | 0.1929 current LCU per US$ of GDP | +74.1% |
| 1976 | 0.2215 current LCU per US$ of GDP | +14.8% |
| 1977 | 0.2313 current LCU per US$ of GDP | +4.4% |
| 1978 | 0.3062 current LCU per US$ of GDP | +32.4% |
| 1979 | 0.3998 current LCU per US$ of GDP | +30.6% |
| 1980 | 0.5677 current LCU per US$ of GDP | +42.0% |
| 1981 | 0.9033 current LCU per US$ of GDP | +59.1% |
| 1982 | 1.58 current LCU per US$ of GDP | +75.5% |
| 1983 | 2.93 current LCU per US$ of GDP | +85.1% |
| 1984 | 3.91 current LCU per US$ of GDP | +33.4% |
| 1985 | 5.19 current LCU per US$ of GDP | +32.7% |
| 1986 | 5.13 current LCU per US$ of GDP | -1.3% |
| 1987 | 5.03 current LCU per US$ of GDP | -1.8% |
| 1988 | 6.1 current LCU per US$ of GDP | +21.2% |
| 1989 | 7.82 current LCU per US$ of GDP | +28.2% |
| 1990 | 7.53 current LCU per US$ of GDP | -3.7% |
| 1991 | 7.49 current LCU per US$ of GDP | -0.6% |
| 1992 | 7.52 current LCU per US$ of GDP | +0.4% |
| 1993 | 9.16 current LCU per US$ of GDP | +21.9% |
| 1994 | 9.89 current LCU per US$ of GDP | +8.0% |
| 1995 | 9.16 current LCU per US$ of GDP | -7.4% |
| 1996 | 9.66 current LCU per US$ of GDP | +5.5% |
| 1997 | 10.21 current LCU per US$ of GDP | +5.7% |
| 1998 | 11.04 current LCU per US$ of GDP | +8.1% |
| 1999 | 11.84 current LCU per US$ of GDP | +7.2% |
| 2000 | 12.1 current LCU per US$ of GDP | +2.2% |
| 2001 | 12.9 current LCU per US$ of GDP | +6.7% |
| 2002 | 12.26 current LCU per US$ of GDP | -5.0% |
| 2003 | 10.85 current LCU per US$ of GDP | -11.5% |
| 2004 | 10.57 current LCU per US$ of GDP | -2.6% |
| 2005 | 10.14 current LCU per US$ of GDP | -4.1% |
| 2006 | 10.95 current LCU per US$ of GDP | +8.0% |
| 2007 | 9.36 current LCU per US$ of GDP | -14.5% |
| 2008 | 10.57 current LCU per US$ of GDP | +12.9% |
| 2009 | 13.29 current LCU per US$ of GDP | +25.7% |
| 2010 | 13.31 current LCU per US$ of GDP | +0.2% |
| 2011 | 12.8 current LCU per US$ of GDP | -3.9% |
| 2012 | 14.29 current LCU per US$ of GDP | +11.7% |
| 2013 | 13.72 current LCU per US$ of GDP | -4.0% |
| 2014 | 13.07 current LCU per US$ of GDP | -4.7% |
| 2015 | 14.65 current LCU per US$ of GDP | +12.1% |
| 2016 | 13.63 current LCU per US$ of GDP | -7.0% |
| 2017 | 12.89 current LCU per US$ of GDP | -5.5% |
| 2018 | 12.64 current LCU per US$ of GDP | -1.9% |
| 2019 | 13.51 current LCU per US$ of GDP | +6.9% |
| 2020 | 14.85 current LCU per US$ of GDP | +9.9% |
| 2021 | 14.08 current LCU per US$ of GDP | -5.1% |
| 2022 | 14.74 current LCU per US$ of GDP | +4.7% |
| 2023 | 15.35 current LCU per US$ of GDP | +4.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.2028 current LCU per US$ of GDP | 0.0796 current LCU per US$ of GDP | 0.3998 current LCU per US$ of GDP | 8 |
| 1980s | 3.92 current LCU per US$ of GDP | 0.5677 current LCU per US$ of GDP | 7.82 current LCU per US$ of GDP | 10 |
| 1990s | 9.35 current LCU per US$ of GDP | 7.49 current LCU per US$ of GDP | 11.84 current LCU per US$ of GDP | 10 |
| 2000s | 11.3 current LCU per US$ of GDP | 9.36 current LCU per US$ of GDP | 13.29 current LCU per US$ of GDP | 10 |
| 2010s | 13.45 current LCU per US$ of GDP | 12.64 current LCU per US$ of GDP | 14.65 current LCU per US$ of GDP | 10 |
| 2020s | 14.76 current LCU per US$ of GDP | 14.08 current LCU per US$ of GDP | 15.35 current LCU per US$ of GDP | 4 |
Countries ranked near Iceland
- 35 Angola 17.37 current LCU per US$ of GDP compare
- 36 Sri Lanka 16.85 current LCU per US$ of GDP compare
- 37 Congo 15.69 current LCU per US$ of GDP compare
- 39 Vanuatu 15.12 current LCU per US$ of GDP compare
- 40 Albania 12.09 current LCU per US$ of GDP compare
- 41 Gabon 11.69 current LCU per US$ of GDP 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), per unit of gdp in Iceland?
- Taxes on goods and services (current lcu), per unit of gdp in Iceland was 15.35 current LCU per US$ of GDP in 2023, according to Statizoid (derived).
- What is the highest taxes on goods and services (current lcu), per unit of gdp recorded in Iceland?
- The highest recorded value was 15.35 current LCU per US$ of GDP in 2023.
- What is the lowest taxes on goods and services (current lcu), per unit of gdp recorded in Iceland?
- The lowest recorded value was 0.0796 current LCU per US$ of GDP in 1972.
- How does Iceland rank for taxes on goods and services (current lcu), per unit of gdp?
- Iceland ranks 38th out of 157 countries with data for 2023.
- Is taxes on goods and services (current lcu), per unit of gdp rising or falling in Iceland?
- Over the last ten years it is up 11.9%. 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), per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Taxes on goods and services (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Taxes on goods and services (current LCU) ÷ GDP (current US$)
Computed from
- Taxes on goods and services Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF)
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
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
Taxes on goods and services (current LCU) divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.