Statistics Iceland releases now a new issue of Statistical Series. This issue presents the expenditure on education in Iceland. A numerical overview of the development of educational expenditure from 1980 to 2010 is shown in amounts spent, percentage share and real growth.  Detailed information is available on the Satistics Iceland website.

The total education expenditure in Iceland in 2010 amounted to 128.2 billion ISK or 8.3% of GDP. Thereof, the general government expenditure was 116.7 billion ISK or 91.0% of the total and the private expenditure 11.5 billion ISK or 9.0% of the total. The share of the education expenditure is around 16.2% of the general government total expenditure.

Of the total education expenditure in 2010, 11.5% was spent on the pre-primary educational level, 4271% went to the primary level and lower-secondary level, 17.3% to the upper-secondary level, 20.9% to the university level. The remaining 5.5% was expenditure not allocated by level and the administration of education.

Of the education expenditure of the private sector in 2010, 31.3%% was spent on the pre-primary educational level, 5.2% went to the lower-secondary level and on the primary level, 19.7% to the upper-secondary level, 14.6% to the university level. The remaining 29.2% was expenditure not allocated by level.   
 
 

The total education expenditure in OECD countries was around 5.5% of GDP on average in 2008, but the share between countries varies greatly. This percentage reached 7.9% of GDP in Iceland, in the United States education expenditure reached 7.2% of GDP in the same year, but in the Slovak Republic it was lowest of the OECD-countries, 4.0% of GDP. If the G20 is considered the expenditure on education as a percentage of GDP was lowest in Indonesia and China 3.3% for both in 2008.

Expenditure on education in Iceland 1998-2010 - Statistical Series