Data / Government balance / Iceland

Government balance in Iceland

Government balance in Iceland was -2.4% of GDP in 2025, according to the Organisation for Economic Co-operation and Development. That is up 1.8 pts from 2024. That is the 25th highest of 38 countries in 2024.

2025, % of GDP-2.4
Change on 2024+1.8 pts
Rank25th of 38Countries ranked
Series high12.72016
Series low-122008

Government balance in Iceland, 1998 to 2025

-15-10-5051015199820022006201020142018202220251998: -0.6 % of GDP1999: 1.3 % of GDP2000: 1.4 % of GDP2001: -0.3 % of GDP2002: -2.2 % of GDP2003: -2.3 % of GDP2004: 0.3 % of GDP2005: 5 % of GDP2006: 6.4 % of GDP2007: 5.6 % of GDP2008: -12 % of GDP2009: -8.5 % of GDP2010: -6.6 % of GDP2011: -6.4 % of GDP2012: -2.6 % of GDP2013: -0.9 % of GDP2014: 0.6 % of GDP2015: -0.1 % of GDP2016: 12.7 % of GDP2017: 1.3 % of GDP2018: 1 % of GDP2019: -1.4 % of GDP2020: -8.8 % of GDP2021: -8 % of GDP2022: -3.8 % of GDP2023: -2.1 % of GDP2024: -4.2 % of GDP2025: -2.4 % of GDP
% of GDP. Source: OECD, OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13). Retrieved 2026-10-12, published 2026-10-12.
All 28 values
Period% of GDP
2025-2.4
2024-4.2
2023-2.1
2022-3.8
2021-8
2020-8.8
2019-1.4
20181
20171.3
201612.7
2015-0.1
20140.6
2013-0.9
2012-2.6
2011-6.4
2010-6.6
2009-8.5
2008-12
20075.6
20066.4
20055
20040.3
2003-2.3
2002-2.2
2001-0.3
20001.4
19991.3
1998-0.6

Rankings

Definition

General government net lending (+) or net borrowing (-) as a percentage of GDP.

How to cite

OECD. OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13). https://data-explorer.oecd.org/vis?df[ds]=dsDisseminateFinalDMZ&df[id]=DSD_NAAG_VI%40DF_NAAG_VI&df[ag]=OECD.SDD.NAD. Accessed 2026-10-12. Data reuse terms and downstream attribution: https://www.oecd.org/en/about/terms-conditions.html

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Questions

What is the government balance as a share of GDP in Iceland?

Government balance in Iceland was -2.4% of GDP in 2025, according to the Organisation for Economic Co-operation and Development. That is up 1.8 pts from 2024. That is the 25th highest of 38 countries in 2024.

Where does this figure come from?

Organisation for Economic Co-operation and Development. OECD National Accounts at a Glance: net lending (+) or net borrowing (-) of general government, percentage of GDP (DSD_NAAG_VI@DF_NAAG_VI, B9S13). Retrieved by Invokely on 2026-10-12.

What was the highest government balance as a share of GDP in Iceland?

12.7% of GDP in 2016, the highest value since 1998 in this series.

Government balance in other countries

Related statistics for Iceland

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