Iceland — Education spending
Government Education Spending (% of GDP) for Iceland, 1990–2022.
Education spending for Iceland was 7.31% in 2022, according to the latest World Bank data. The series covers 30 years, from 1990 to 2022. The highest recorded value was 8.58% in 2020. The lowest was 4.26% in 1990 (about 1.7× the low point). Across that span the compound annual growth rate works out to 1.70% per year.
Iceland ranks 11 of 172 economies on this measure (1 = highest), putting it in the top 6%. The median for Europe & Central Asia is 4.59%, so Iceland sits above it. It peaked in 2020 and has fallen 15% since. Over the last decade (2012–2022) the figure moved down 4%. Within Europe & Central Asia it ranks 2 of 45 economies; Kyrgyz Republic (6.83%) is just below it. Its sharpest one-year move was up 30% in 1998. That is 5% below this series' own ten-year average.
Data highlights
From its 1990 level: doubled by 2020. Doubling roughly every 41 years at that pace.
World ranking. Climbed: 20th of 50 in 1990 → 13th of 116 in 2000 → 9th of 130 in 2010 → 5th of 157 in 2020 → 8th of 150 in 2022.
Key figures
Full history — 1990 to 2022
| Year | % of GDP | Change |
|---|---|---|
| 2022 | 7.31% | -0.9 pp |
| 2021 | 8.23% | -0.4 pp |
| 2020 | 8.58% | +1.0 pp |
| 2019 | 7.6% | +0.0 pp |
| 2018 | 7.56% | -0.0 pp |
| 2017 | 7.58% | +0.2 pp |
| 2016 | 7.43% | -0.0 pp |
| 2015 | 7.46% | -0.2 pp |
| 2014 | 7.64% | +0.2 pp |
| 2013 | 7.45% | -0.1 pp |
| 2012 | 7.58% | +0.8 pp |
| 2011 | 6.79% | -0.2 pp |
| 2010 | 6.94% | -0.2 pp |
| 2009 | 7.19% | +0.2 pp |
| 2008 | 7.04% | +0.1 pp |
| 2007 | 6.94% | -0.3 pp |
| 2006 | 7.2% | -0.1 pp |
| 2005 | 7.34% | +0.2 pp |
| 2004 | 7.16% | -0.1 pp |
| 2003 | 7.25% | -0.1 pp |
| 2002 | 7.3% | +0.6 pp |
| 2001 | 6.71% | +0.3 pp |
| 2000 | 6.43% | -0.0 pp |
| 1999 | 6.43% | -0.3 pp |
| 1998 | 6.78% | +1.6 pp |
| 1996 | 5.22% | +0.4 pp |
| 1995 | 4.78% | +0.0 pp |
| 1994 | 4.76% | -0.4 pp |
| 1993 | 5.14% | +0.9 pp |
| 1990 | 4.26% | — |
Frequently asked questions
What was Iceland’s Education spending in 1993?
5.14% (1993). The full year-by-year table above lists every published year, most recent first.
Are changes in this series measured in percentage points?
Yes. The series is a share expressed in % of GDP, so year-over-year movements in the Change column are percentage points (pp), not percent.
Is Iceland’s Education spending growing or shrinking?
Between 1990 and 2022 the series was growing overall: +71.6% in total — about 1.7% a year compounded.
Where does this data come from?
World Bank Open Data (CC BY-4.0), indicator SE.XPD.TOTL.GD.ZS. Values are reproduced as published; this page only computes summary statistics such as change, CAGR and extremes.
What are the most recent published figures?
The last five published years: 2022: 7.31%; 2021: 8.23%; 2020: 8.58%; 2019: 7.6%; 2018: 7.56%. Earlier years are in the full-history table below.
Related data
SE.XPD.TOTL.GD.ZS — Government Education Spending (% of GDP). Data licensed under CC BY 4.0. Values are reproduced as published; this page computes the summary statistics (change, CAGR, extremes) from the underlying annual series. View the original dataset on data.worldbank.org.