Iceland Military Spending
Iceland spends an estimated 0.2% of GDP on its military in 2026; its most recent reported expenditure in US dollars is $0 million (2025).
Defense budget and military expenditure data (1949–2027)
Data updated: July 7, 2026
Key Facts (2026 estimate)
Military Expenditure
N/A
Percent of GDP
0.2%
Ranked #160 of 163 countries by % of GDP
Historical Peak Spending
$0 million
Reached in 1949
How the 2026 figures are produced. The share-of-GDP figure is a per-country estimate researched from announced and enacted national defence budgets. Actual SIPRI figures for Iceland run to 2025.
Iceland Defense Budget Summary
Iceland spends an estimated 0.2% of GDP on its military in 2026; its most recent reported expenditure in US dollars is $0 million (2025).
The highest percentage of GDP allocated to defense spending was 0.0% in 1949. The historical average military budget is 0.0% of GDP.
Data source: SIPRI Military Expenditure Database. Values are in constant 2024 US dollars. Data for 2026 is an estimate based on government budget announcements.
Historical Military Spending
Military Spending (% of GDP)
Military Spending (USD Billions, 2024 prices)
Historical Data
| Year | Percent of GDP | USD (millions) |
|---|---|---|
| 2027(estimate) | 0.30% | — |
| 2026(estimate) | 0.20% | — |
| 2025 | 0.00% | $0M |
| 2024 | 0.00% | $0M |
| 2023 | 0.00% | $0M |
| 2022 | 0.00% | $0M |
| 2021 | 0.00% | $0M |
| 2020 | 0.00% | $0M |
| 2019 | 0.00% | $0M |
| 2018 | 0.00% | $0M |
| 2017 | 0.00% | $0M |
| 2016 | 0.00% | $0M |
| 2015 | 0.00% | $0M |
| 2014 | 0.00% | $0M |
| 2013 | 0.00% | $0M |
| 2012 | 0.00% | $0M |
| 2011 | 0.00% | $0M |
| 2010 | 0.00% | $0M |
| 2009 | 0.00% | $0M |
| 2008 | 0.00% | $0M |
| 2007 | 0.00% | $0M |
| 2006 | 0.00% | $0M |
| 2005 | 0.00% | $0M |
| 2004 | 0.00% | $0M |
| 2003 | 0.00% | $0M |
| 2002 | 0.00% | $0M |
| 2001 | 0.00% | $0M |
| 2000 | 0.00% | $0M |
| 1999 | 0.00% | $0M |
| 1998 | 0.00% | $0M |
| 1997 | 0.00% | $0M |
| 1996 | 0.00% | $0M |
| 1995 | 0.00% | $0M |
| 1994 | 0.00% | $0M |
| 1993 | 0.00% | $0M |
| 1992 | 0.00% | $0M |
| 1991 | 0.00% | $0M |
| 1990 | 0.00% | $0M |
| 1989 | 0.00% | $0M |
| 1988 | 0.00% | $0M |
| 1987 | 0.00% | $0M |
| 1986 | 0.00% | $0M |
| 1985 | 0.00% | $0M |
| 1984 | 0.00% | $0M |
| 1983 | 0.00% | $0M |
| 1982 | 0.00% | $0M |
| 1981 | 0.00% | $0M |
| 1980 | 0.00% | $0M |
| 1979 | 0.00% | $0M |
| 1978 | 0.00% | $0M |
| 1977 | 0.00% | $0M |
| 1976 | 0.00% | $0M |
| 1975 | 0.00% | $0M |
| 1974 | 0.00% | $0M |
| 1973 | 0.00% | $0M |
| 1972 | 0.00% | $0M |
| 1971 | 0.00% | $0M |
| 1970 | 0.00% | $0M |
| 1969 | 0.00% | $0M |
| 1968 | 0.00% | $0M |
| 1967 | 0.00% | $0M |
| 1966 | 0.00% | $0M |
| 1965 | 0.00% | $0M |
| 1964 | 0.00% | $0M |
| 1963 | 0.00% | $0M |
| 1962 | 0.00% | $0M |
| 1961 | 0.00% | $0M |
| 1960 | 0.00% | $0M |
| 1959 | 0.00% | $0M |
| 1958 | 0.00% | $0M |
| 1957 | 0.00% | $0M |
| 1956 | 0.00% | $0M |
| 1955 | 0.00% | $0M |
| 1954 | 0.00% | $0M |
| 1953 | 0.00% | $0M |
| 1952 | 0.00% | $0M |
| 1951 | 0.00% | $0M |
| 1950 | 0.00% | $0M |
| 1949 | 0.00% | $0M |