Iceland recorded a government budget surplus of 4.60 ISK Billion in the first quarter of 2025. This dataset provides - Iceland Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Iceland recorded a Government Budget deficit equal to 3.40 percent of the country's Gross Domestic Product in 2024. This dataset provides - Iceland Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Spending in Iceland decreased to 228600 ISK Million in the first quarter of 2025 from 233236 ISK Million in the fourth quarter of 2024. This dataset provides - Iceland Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The ratio of government expenditure to GDP in Iceland was estimated at approximately 46.25 percent in 2024. Between 1980 and 2024, the ratio rose by around 12.35 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is expected to drop by about 3.52 percentage points between 2024 and 2030, showing a continuous downward movement throughout the period.Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.

Iceland IS: Civil Budget R&D: % of Total GBARD data was reported at 100.000 % in 2023. This stayed constant from the previous number of 100.000 % for 2022. Iceland IS: Civil Budget R&D: % of Total GBARD data is updated yearly, averaging 100.000 % from Dec 1983 (Median) to 2023, with 37 observations. The data reached an all-time high of 100.000 % in 2023 and a record low of 100.000 % in 2023. Iceland IS: Civil Budget R&D: % of Total GBARD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

Government spending in Iceland was last recorded at 46.7 percent of GDP in 2024 . This dataset provides the latest reported value for - Iceland Government Spending to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, the budget balance in relation to the gross domestic product (GDP) in Iceland was estimated at about -3.48 percent. Between 1980 and 2024, the figure dropped by approximately 4.85 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the budget balance will steadily grow by around 2.46 percentage points from 2024 to 2030.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

Government spending on education in Iceland has increased since 2019, when it was seven percent of the Gross Domestic Product (GDP). The highest spending was in 2020, when it reached 8.1 percent. In 2022, it had once more decreased to just above seven percent. That year, Iceland spent the highest share of its GDP on education in Europe.

IS: Total Government Allocations For R&D (GBARD) data was reported at 43,428.603 ISK mn in 2023. This records an increase from the previous number of 41,861.869 ISK mn for 2022. IS: Total Government Allocations For R&D (GBARD) data is updated yearly, averaging 9,121.500 ISK mn from Dec 1983 (Median) to 2023, with 37 observations. The data reached an all-time high of 43,428.603 ISK mn in 2023 and a record low of 236.100 ISK mn in 1983. IS: Total Government Allocations For R&D (GBARD) data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

Iceland IS: Education and Social Programmes: % of Civil GBARD data was reported at 7.387 % in 2024. This records an increase from the previous number of 7.155 % for 2023. Iceland IS: Education and Social Programmes: % of Civil GBARD data is updated yearly, averaging 7.414 % from Dec 1983 (Median) to 2024, with 38 observations. The data reached an all-time high of 48.489 % in 2005 and a record low of 0.174 % in 1992. Iceland IS: Education and Social Programmes: % of Civil GBARD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

Government expenditure on education, total (% of GDP) in Iceland was reported at 7.1397 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iceland - Public spending on education, total (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Iceland IS: Economic Development Programmes: % of Civil GBARD data was reported at 33.016 % in 2023. This records a decrease from the previous number of 33.609 % for 2022. Iceland IS: Economic Development Programmes: % of Civil GBARD data is updated yearly, averaging 30.676 % from Dec 1983 (Median) to 2023, with 37 observations. The data reached an all-time high of 61.669 % in 1983 and a record low of 13.862 % in 2015. Iceland IS: Economic Development Programmes: % of Civil GBARD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

Iceland education spending for 2022 was 14.90%, a 0.51% decline from 2021.

<ul style='margin-top:20px;'>

<li>Iceland education spending for 2021 was <strong>15.41%</strong>, a <strong>0.47% decline</strong> from 2020.</li>
<li>Iceland education spending for 2020 was <strong>15.88%</strong>, a <strong>0.26% decline</strong> from 2019.</li>
<li>Iceland education spending for 2019 was <strong>16.14%</strong>, a <strong>0.15% increase</strong> from 2018.</li>
</ul>General government expenditure on education (current, capital, and transfers) is expressed as a percentage of total general government expenditure on all sectors (including health, education, social services, etc.). It includes expenditure funded by transfers from international sources to government. General government usually refers to local, regional and central governments.

Iceland IS: GBARD: Current PPP data was reported at 309.861 USD mn in 2023. This records an increase from the previous number of 302.595 USD mn for 2022. Iceland IS: GBARD: Current PPP data is updated yearly, averaging 98.501 USD mn from Dec 1983 (Median) to 2023, with 37 observations. The data reached an all-time high of 309.861 USD mn in 2023 and a record low of 12.268 USD mn in 1983. Iceland IS: GBARD: Current PPP data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

Iceland IS: Health and Environment Programmes: % of Civil GBARD data was reported at 3.809 % in 2023. This records an increase from the previous number of 3.773 % for 2022. Iceland IS: Health and Environment Programmes: % of Civil GBARD data is updated yearly, averaging 7.715 % from Dec 1983 (Median) to 2023, with 37 observations. The data reached an all-time high of 13.497 % in 2006 and a record low of 3.773 % in 2022. Iceland IS: Health and Environment Programmes: % of Civil GBARD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

Iceland IS: Non-Oriented Research Programmes: % of Civil GBARD data was reported at 22.673 % in 2023. This records an increase from the previous number of 21.791 % for 2022. Iceland IS: Non-Oriented Research Programmes: % of Civil GBARD data is updated yearly, averaging 17.313 % from Dec 1983 (Median) to 2023, with 33 observations. The data reached an all-time high of 35.731 % in 1986 and a record low of 12.266 % in 1998. Iceland IS: Non-Oriented Research Programmes: % of Civil GBARD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

Iceland IS: Civil GBARD: Current PPP: Non-Oriented Research Programmes data was reported at 70.254 USD mn in 2023. This records an increase from the previous number of 65.939 USD mn for 2022. Iceland IS: Civil GBARD: Current PPP: Non-Oriented Research Programmes data is updated yearly, averaging 15.395 USD mn from Dec 1983 (Median) to 2023, with 33 observations. The data reached an all-time high of 70.254 USD mn in 2023 and a record low of 3.461 USD mn in 1983. Iceland IS: Civil GBARD: Current PPP: Non-Oriented Research Programmes data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

IS: Civil GBARD: Current PPP: General University Funds data was reported at 95.053 USD mn in 2023. This records a decrease from the previous number of 97.850 USD mn for 2022. IS: Civil GBARD: Current PPP: General University Funds data is updated yearly, averaging 45.475 USD mn from Dec 1991 (Median) to 2023, with 33 observations. The data reached an all-time high of 97.850 USD mn in 2022 and a record low of 7.866 USD mn in 1992. IS: Civil GBARD: Current PPP: General University Funds data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.

DG ECFIN Forecast: General Government Budget: % of Nominal GDP: Revenue: Current: Other incl Sales data was reported at 7.364 % in 2026. This records an increase from the previous number of 7.362 % for 2025. DG ECFIN Forecast: General Government Budget: % of Nominal GDP: Revenue: Current: Other incl Sales data is updated yearly, averaging 9.301 % from Dec 1998 (Median) to 2026, with 29 observations. The data reached an all-time high of 16.970 % in 2008 and a record low of 5.958 % in 2020. DG ECFIN Forecast: General Government Budget: % of Nominal GDP: Revenue: Current: Other incl Sales data remains active status in CEIC and is reported by European Commission's Directorate-General for Economic and Financial Affairs. The data is categorized under Global Database’s Iceland – Table IS.DG ECFIN.AMECO: General Government Budget: % of Nominal GDP: Forecast.

Iceland IS: Civil GBARD: Current PPP: Space Programmes data was reported at 0.000 USD mn in 2023. This stayed constant from the previous number of 0.000 USD mn for 2022. Iceland IS: Civil GBARD: Current PPP: Space Programmes data is updated yearly, averaging 0.000 USD mn from Dec 1983 (Median) to 2023, with 15 observations. The data reached an all-time high of 0.043 USD mn in 1986 and a record low of 0.000 USD mn in 2023. Iceland IS: Civil GBARD: Current PPP: Space Programmes data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Iceland – Table IS.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.

In Iceland, from 2015, the implementation of the 2015 Frascati Manual edition has affected the distribution of personnel data by occupation. From reference year 2013, the R&D data collection methodology has been changed resulting in breaks in series. The main differences concern the redesign of the questionnaire, use of business registers in the sample selection mechanism, the legal obligation for firms to respond, the definition of key R&D concepts in the questionnaire, and changes in the allocation of institutions into the business or government sectors. New sampling methods caused a break in series in 2010 (or in 2011 for sectors with no 2010 data).

From 2014 onward, GBARD data are provided by Statistics Iceland and are compiled according to the Frascati Manual guidelines. From 2006, GBARD data make better use of R&D information from the state budget and are based on a better coverage of relevant R&D funding in major recipients organizations. From 1993, new methods for collecting and processing budget data for GBARD result in a break in series.