Net incurrence of liabilities, total in Iceland
Iceland: Net incurrence of liabilities, total was 113.95 billion current LCU in 2023. ◆ Volatile
Net incurrence of liabilities, total in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2023, net incurrence of liabilities, total in Iceland stood at 113.95 billion current LCU.
Compared with earlier readings it is down 25.9% on the previous year and up 439.3% over ten years.
Over the whole period, net incurrence of liabilities, total in Iceland peaked at 640.73 billion current LCU in 2008 and was at its lowest, -253.50 billion current LCU, in 2017.
Iceland ranks 56th of 136 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 113.75 million current LCU | 27.70 million current LCU | 243.10 million current LCU | 8 |
| 1980s | 3.76 billion current LCU | 176.40 million current LCU | 10.25 billion current LCU | 10 |
| 1990s | 8.94 billion current LCU | -5.13 billion current LCU | 16.98 billion current LCU | 10 |
| 2000s | 116.89 billion current LCU | -43.75 billion current LCU | 640.73 billion current LCU | 10 |
| 2010s | -23.13 billion current LCU | -253.50 billion current LCU | 223.48 billion current LCU | 10 |
| 2020s | 168.19 billion current LCU | 113.95 billion current LCU | 252.19 billion current LCU | 4 |
Countries ranked near Iceland
More public sector data for Iceland
- Tax revenue 23.2% (2023)
- Taxes on income, profits and capital gains 34.6% (2023)
- Taxes on goods and services 35.2% (2023)
- Net investment in nonfinancial assets 2.3% (2023)
- Net lending (+) / net borrowing (-) -1.1% (2023)
- Interest payments 14.9% (2023)
- Grants and other revenue 17.2% (2023)
- Interest payments 14.7% (2023)
- Other taxes 3.0% (2023)
- Compensation of employees 23.8% (2023)
Frequently asked questions
- What is net incurrence of liabilities, total in Iceland?
- Net incurrence of liabilities, total in Iceland was 113.95 billion current LCU in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Iceland?
- The highest recorded value was 640.73 billion current LCU in 2008.
- What is the lowest net incurrence of liabilities, total recorded in Iceland?
- The lowest recorded value was -253.50 billion current LCU in 2017.
- How does Iceland rank for net incurrence of liabilities, total?
- Iceland ranks 56th out of 136 countries with data for 2023.
- Is net incurrence of liabilities, total rising or falling in Iceland?
- Over the last ten years it is up 439.3%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (current LCU). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.