Iceland Government Revenue
General government revenue as % of GDP GGR_NGDP
Iceland's government revenue was 43.62% in 2025, ranked 28th globally. This represents a 1.4% increase from 2024. Data from IMF WEO, covering 1980–2025.
Overview
Iceland's government revenue stood at 43.62% in 2025, a rise of +0.58% from 2024. The IMF projects 43.62% by 2025. Iceland ranked 28th globally.
Iceland's government revenue has experienced significant fluctuations over the past 46 years, with the all-time peak of 58.17% of GDP achieved in 2016 and the trough at 35.27% in 1980, mirroring the country's economic growth trajectory during this period. Following the 2016 peak, government revenue has steadily declined to 43.62% of GDP in 2025, positioning Iceland at the 28th spot globally. Portugal, a comparable country, has maintained a relatively stable government revenue share, currently ranking 27th with 43.85%. The decline in Iceland's government revenue share can be attributed to a combination of factors, including a decrease in tax revenue due to lower economic growth rates and a shift in the country's economic structure. A potential shift towards a more diversified economy or a rise in tax rates could alter the trajectory of Iceland's government revenue trajectory, influencing the country's fiscal policy and public expenditure in the years to come.
Data & projection
| Year | Government Revenue | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 42.80% | - | - |
| 2029* IMF | 42.73% | - | - |
| 2028* IMF | 42.61% | - | - |
| 2027* IMF | 42.57% | - | - |
| 2026* IMF | 42.73% | - | - |
| 2025* IMF | 43.62% | - | - |
| 2025 | 43.62% | +0.58% | #28 |
| 2024 | 43.04% | +0.32% | #31 |
| 2023 | 42.72% | +0.72% | #32 |
| 2022 | 42.00% | +1.62% | #31 |
| 2021 | 40.38% | −1.05% | #37 |
| 2020 | 41.43% | −0.04% | #29 |
| 2019 | 41.47% | −2.63% | #32 |
| 2018 | 44.10% | −0.68% | #25 |
| 2017 | 44.79% | −13.39% | #22 |
| 2016 | 58.17% | +15.54% | #8 |
| 2015 | 42.63% | −3.02% | #26 |
| 2014 | 45.65% | +1.26% | #21 |
| 2013 | 44.39% | −0.14% | #27 |
| 2012 | 44.53% | +1.01% | #25 |
| 2011 | 43.51% | +1.90% | #28 |
Detected Pattern
Analysis
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw government revenue improve within 24 months. View full analysis →
Frequently Asked Questions
Iceland's government revenue was 43.62% in 2025. Ranked 28th globally. This represents a 1.4% increase from the previous year.
Iceland's government revenue peaked at 58.17% in 2016.
The lowest government revenue in Iceland was 35.27% in 1980.
Iceland ranks 28th globally in government revenue as of 2025.
The World Bank indicator code is GGR_NGDP. Data sourced from IMF WEO.
Iceland's government revenue is projected to reach 43.62% by 2025 based on IMF projection.
The government revenue of Iceland in 2025 was 43.62%. This ranks 28th in the world.
Cite this page
@misc{historysaid_iceland_government-revenue,
title = {Iceland Government Revenue},
url = {https://historysaid.com/iceland/government-revenue/},
publisher = {HistorySaid},
year = {2026}
}