Europe & Central Asia · OECD · NATO · EFTA
Data checked 28 Oct 2026 · next scheduled check 1 Jan 2027 · UN World Population Prospects (via World Bank) released 1 Jul 2026 · Eurostat released 21 Oct 2026 · World Bank WDI released 8 Oct 2026
Total spending · 2024
47.1%
+2.7 pts since 1995
Welfare · 2024
12.6%
+4.9 pts since 1998
Healthcare · 2024
8.60%
+1.4 pts since 1998
Defence · 2024
0.20%
+0.2 pts since 1998
Education · 2024
7.00%
+0.0 pts since 1998
Debt interest · 2024
4.80%
+0.8 pts since 1998
Gross debt · 2025
56.7%
of GDP · +1 pts since 1995
Population · 2025
0.4m
46.7% since 1995
Public-sector employment
Not available: no official public-sector employment series is loaded for Iceland yet.
Welfare rose from 7.7% to 13.7% of GDP between 1998 and 2020, then fell to 12.6% by 2024.
Healthcare rose from 7.2% to 8.8% of GDP between 1998 and 2021, then fell to 8.6% by 2024.
Defence rose from 0.0% to 0.2% of GDP between 1998 and 2024.
Education rose from 7.0% to 8.0% of GDP between 1998 and 2020, then fell to 7.0% by 2024.
Debt interest rose from 4.0% to 12.4% of GDP between 1998 and 2009, then fell to 4.8% by 2024.
Total spending rose from 44.4% to 62.8% of GDP between 1995 and 2008, then fell to 47.1% by 2024.
Gross debt rose from 56.1% to 136.6% of GDP between 1995 and 2011, then fell to 56.7% by 2025.
Population grew from 0.3 million in 1995 to 0.4 million in 2025; the UN projects 0.4 million by 2050.