Iceland - Revenue, excluding grants (% of GDP)

Revenue, excluding grants (% of GDP) in Iceland was 30.21 as of 2019. Its highest value over the past 47 years was 47.97 in 2016, while its lowest value was 24.30 in 1977.

Definition: Revenue is cash receipts from taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales. Grants are also considered as revenue but are excluded here.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1972 26.10
1973 26.12
1974 26.97
1975 26.70
1976 25.07
1977 24.30
1978 25.20
1979 26.10
1980 25.20
1981 26.23
1982 27.16
1983 25.45
1984 26.02
1985 25.21
1986 25.41
1987 25.22
1988 27.09
1989 28.52
1990 28.39
1991 28.60
1992 29.74
1993 28.93
1994 28.82
1995 29.31
1996 30.37
1997 28.69
1998 30.73
1999 32.93
2000 32.11
2001 29.98
2002 29.53
2003 30.47
2004 31.51
2005 38.55
2006 39.11
2007 38.14
2008 40.18
2009 34.41
2010 31.86
2011 33.14
2012 34.11
2013 33.65
2014 35.20
2015 32.36
2016 47.97
2017 33.79
2018 33.01
2019 30.21

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance