Iceland - Compensation of employees (% of expense)

Compensation of employees (% of expense) in Iceland was 26.35 as of 2019. Its highest value over the past 47 years was 35.32 in 1987, while its lowest value was 15.78 in 2008.

Definition: Compensation of employees consists of all payments in cash, as well as in kind (such as food and housing), to employees in return for services rendered, and government contributions to social insurance schemes such as social security and pensions that provide benefits to employees.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

See also:

Year Value
1972 26.67
1973 26.80
1974 25.66
1975 24.46
1976 26.67
1977 28.61
1978 29.24
1979 27.82
1980 29.43
1981 28.83
1987 35.32
1988 34.03
1989 27.44
1990 29.64
1991 29.97
1992 29.75
1993 30.99
1994 30.09
1995 31.10
1996 30.50
1997 30.46
1998 30.88
1999 29.58
2000 29.20
2001 29.76
2002 31.27
2003 31.15
2004 31.36
2005 27.36
2006 26.62
2007 25.53
2008 15.78
2009 19.03
2010 20.52
2011 19.54
2012 20.60
2013 21.95
2014 22.15
2015 23.59
2016 21.65
2017 25.78
2018 26.20
2019 26.35

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: Median

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance