Statistics Iceland now publishes a new edition of Hagtíðindi (Statistical series) with an analysis of individual liabilities, assets and net worth derived from tax returns in 2012. The main results are that liabilities increased by 1.9% from the previous year while assets and total annual income increased by 6.2% and 6.8% respectively.

Total liabilities at year end 2012 were 1,922 billion ISK and had increased by 1.9% from the previous year. Liabilities decreased the most for families aged 25–29 years, by 6.9% on average, and increased the most for families aged 67 years and older, by 5% on average. Half of indebted families owed 5.8 million ISK or less and 90% of indebted families owed 31.7 million ISK or less. Couples with children were the most indebted of all family types, 25.1 million ISK on average, and families aged 40–49 years old were most indebted of all age groups with 20 million ISK on average in liabilities.

At the end of year 2012, total assets amounted 3,969 billion ISK or 6.2% more compared to previous year. Couples with no children had the most assets of all family types with 1,595 billion ISK in total assets, which is a 7.6% increase from previous year. Families aged 60 years and older had the most assets of all age groups, 1,666 billion ISK or 42% of all assets in total, and their average asset also increased the most of all age groups, by 4.8%. 


The debt ratio dropped from 50% to 48% and was highest among families aged 25–29 years, where it was 114%, but lowest among families aged 67 years and older, or 14%. Liabilities to disposable income also decreased, from 237% to 228%, and interest expense to disposable income was 10% at the end of year 2012.

Families with positive net worth increased by 4% from previous year. The families that had the strongest equity position, i.e. the ones that belonged to the highest deciles, had 78.5 million ISK on average in net worth.

Total income in 2012 was 1,083 billion ISK or 6.8% higher compared to previous year. Nine out of ten families had 12.4 million ISK or less in total income for 2012. The highest income deciles had an average of 19 million in total income, owed 22.8 million ISK on average and had assets amounting to 63.6 million ISK on average. Couples with children had the highest disposable income with 8.5 million ISK on average while single parents had 3.8 million ISK and couples with no children had 7.3 million ISK. Disposable income increased most among single parents, by 6%.

Liabilities, assets and net worth of individuals in 2012 - Statistical Series

Statistics