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 2007 is shown in amounts spent, percentage share and real growth. Detailed information is available on the SI website.
The total education expenditure in Iceland in 2007 amounted to 106.4 billion ISK or 8.2% of GDP. Thereof, the general government expenditure was 96.3 billion ISK or 90.5% of the total and the private expenditure 10.1 billion ISK or 9.5% of the total. The share of the education expenditure is around 18.8% of the general government total expenditure.
Of the total education expenditure in 2007, 11.4% was spent on the pre-primary educational level, 45.1% went to the lower-secondary level and on the primary level, 17.9% to the upper-secondary level, 18.4% to the university level. The remaining 7.3% was expenditure not allocated by level and the administration of education.
Of the education expenditure of the private sector in 2007, 32.7%% was spent on the pre-primary educational level, 5.2% went to the lower-secondary level and on the primary level, 20.0% to the upper-secondary level, 13.8% to the university level. The remaining 28.0% was expenditure not allocated by level.
The total education expenditure in OECD countries was around 5.7% of GDP on average in 2005, but the share between countries varies greatly. In Israel this percentage reached 8.3% of GDP in 2005, in the United States education expenditure reached 7.4% of GDP in 2005, but in Greece it was 3.4% of GDP. On this scale, Iceland was in the second place of the OECD countries in 2005.
Expenditure on education in Iceland - Statistical Series