Iceland Military Spending
Military expenditure as % of GDP MS.MIL.XPND.GD.ZS
Overview
Data & projection
| Year | Military Spending | YoY change | Rank |
|---|
Detected Pattern
Export Boom Cycle
Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.
Reserves YoY +43.3%
GDP growth 6.2%
C/A balance 9.1%
Occurred 768 times, 546 successful
Analysis
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw military spending improve within 24 months. View full analysis →
Europe's defense dilemma regarding future U.S. support directly impacts Iceland, a NATO member without a standing army. Iceland's defense relies entirely on collective security, primarily through NATO. The proposed European defense options underscore the evolving security landscape for Iceland, which contributes to NATO's common budget and infrastructure, and hosts critical air surveillance capabilities.
Frequently Asked Questions
What is the World Bank indicator code for military spending?▾
The World Bank indicator code is MS.MIL.XPND.GD.ZS. Data sourced from World Bank.
Cite this page
APA
Iceland Military Spending. HistorySaid. Retrieved October 29, 2026, from https://historysaid.com/iceland/military-spending/
BibTeX
@misc{historysaid_iceland_military-spending,
title = {Iceland Military Spending},
url = {https://historysaid.com/iceland/military-spending/},
publisher = {HistorySaid},
year = {2026}
}
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