Iceland—Fiscal Balance (% of GDP)
Category: Fiscal & MonetarySource: IMF World Economic Outlook ↗Global Rank: #48 of 192Updated August 2026
Latest Value
0.0%
2031
YoY Change
+100.0%
2030 → 2031
Global Rank
#48
of 192 countries
Maximum
12.7%
2016
Minimum
-12.0%
2008
Last
0.0%
Previous
-0.1%
Highest
12.7%
Lowest
-12.0%
Unit
Percent of GDP
Source
IMF World Economic Outlook
Iceland's fiscal balance (% of GDP) was -1.1% in 2026, ranking #48 out of 192 countries. This represents a +100.0% change from 2030. Over the past 27 years, the highest recorded value was 12.7% (2016) and the lowest was -12.0% (2008). The IMF WEO projects 0.0% by 2031. Data sourced from the IMF World Economic Outlook.
Actual
IMF Forecast
Source: IMF World Economic Outlook
Historical Data
| Year | Value | Change |
|---|---|---|
| 2031 | 0.0% | +100.0% |
| 2030 | -0.1% | +0.0% |
| 2029 | -0.1% | +50.0% |
| 2028 | -0.2% | +60.0% |
| 2027 | -0.5% | +54.5% |
| 2026 | -1.1% | +60.7% |
| 2025 | -2.8% | +24.3% |
| 2024 | -3.7% | -60.9% |
| 2023 | -2.3% | +39.5% |
| 2022 | -3.8% | +52.5% |
| 2021 | -8.0% | +9.1% |
| 2020 | -8.8% | -528.6% |
| 2019 | -1.4% | -240.0% |
| 2018 | 1.0% | -23.1% |
| 2017 | 1.3% | -89.8% |
| 2016 | 12.7% | +12800.0% |
| 2015 | -0.1% | -116.7% |
| 2014 | 0.6% | +166.7% |
| 2013 | -0.9% | +65.4% |
| 2012 | -2.6% | +59.4% |
| 2011 | -6.4% | +3.0% |
| 2010 | -6.6% | +22.4% |
| 2009 | -8.5% | +29.2% |
| 2008 | -12.0% | -314.3% |
| 2007 | 5.6% | -12.5% |
| 2006 | 6.4% | +28.0% |
| 2005 | 5.0% | +1566.7% |
| 2004 | 0.3% | +113.0% |
| 2003 | -2.3% | -4.5% |
| 2002 | -2.2% | -633.3% |
| 2001 | -0.3% | -121.4% |
| 2000 | 1.4% |
IMF Forecast
Projections from the IMF World Economic Outlook. These are staff estimates, not guarantees.
| Year | Projected Value | Change from Previous |
|---|---|---|
| 2026Forecast | -1.1% | +60.7% |
| 2027Forecast | -0.5% | +54.5% |
| 2028Forecast | -0.2% | +60.0% |
| 2029Forecast | -0.1% | +50.0% |
| 2030Forecast | -0.1% | +0.0% |
| 2031Forecast | 0.0% | +100.0% |
Top Countries — Fiscal Balance (% of GDP)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Kuwait | 27.6% | 2026 |
| 2 | Naoero | 13.1% | 2026 |
| 3 | Norway | 10.2% | 2026 |
| 4 | Oman | 5.2% | 2026 |
| 5 | United Arab Emirates | 4.9% | 2026 |
| 6 | Lesotho | 4.2% | 2026 |
| 7 | Macao SAR, China | 4.2% | 2026 |
| 8 | Singapore | 3.3% | 2026 |
| 9 | Lebanon | 3.3% | 2025 |
| 10 | Liechtenstein | 3.0% | 2026 |
About This Indicator
Definition
General government net lending/borrowing as a percentage of GDP. A positive value indicates a fiscal surplus; negative indicates a deficit.
Methodology
Revenue minus expenditure minus net acquisition of nonfinancial assets, as a percentage of GDP. A comprehensive measure of the fiscal balance.
Unit
Percent of GDP