Iceland—Government Revenue (% of GDP)
Category: Fiscal & MonetarySource: World Bank World Development Indicators ↗Global Rank: #39 of 139Updated April 2026
Latest Value
31.5%
2023
YoY Change
+2.6%
2022 → 2023
Global Rank
#39
of 139 countries
Maximum
47.3%
2016
Minimum
28.4%
2021
CAGR
-0.0%
24 years
Last
31.5%
Previous
30.7%
Highest
47.3%
Lowest
28.4%
Source
World Bank World Development Indicators
Iceland's government revenue (% of gdp) was 31.5% in 2023, ranking #39 out of 139 countries. This represents a +2.6% change from 2022. Over the past 24 years, the highest recorded value was 47.3% (2016) and the lowest was 28.4% (2021). Data sourced from the World Bank World Development Indicators.
Source: World Bank World Development Indicators
Historical Data
| Year | Value | Change |
|---|---|---|
| 2023 | 31.5% | +2.6% |
| 2022 | 30.7% | +8.1% |
| 2021 | 28.4% | -1.9% |
| 2020 | 28.9% | -3.8% |
| 2019 | 30.1% | -7.5% |
| 2018 | 32.5% | -2.5% |
| 2017 | 33.3% | -29.5% |
| 2016 | 47.3% | +47.7% |
| 2015 | 32.0% | -8.1% |
| 2014 | 34.8% | +4.3% |
| 2013 | 33.4% | -0.8% |
| 2012 | 33.7% | +2.8% |
| 2011 | 32.8% | +4.1% |
| 2010 | 31.5% | -8.2% |
| 2009 | 34.3% | -13.9% |
| 2008 | 39.8% | +5.8% |
| 2007 | 37.6% | -2.7% |
| 2006 | 38.6% | +2.0% |
| 2005 | 37.9% | +21.4% |
| 2004 | 31.2% | +3.6% |
| 2003 | 30.1% | +3.0% |
| 2002 | 29.2% | -1.4% |
| 2001 | 29.7% | -6.5% |
| 2000 | 31.7% |
Top Countries — Government Revenue (% of GDP)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Nauru | 138.8% | 2020 |
| 2 | Kiribati | 81.1% | 2023 |
| 3 | Norway | 54.2% | 2023 |
| 4 | Timor-Leste | 51.5% | 2022 |
| 5 | Lesotho | 44.2% | 2024 |
| 6 | Austria | 44.2% | 2023 |
| 7 | Greece | 43.3% | 2023 |
| 8 | Luxembourg | 42.8% | 2023 |
| 9 | France | 42.2% | 2023 |
| 10 | Finland | 42.1% | 2023 |
About This Indicator
Definition
Revenue is an increase in net worth resulting from a transaction. Grants are excluded from this figure. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Methodology
Data compiled by Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).