The wealthiest 10% of families in Iceland owned around 57.5% of the total net worth in the country in 2018. The data comes from Statistics Iceland’s annual report on liabilities and assets. The report reveals there was an increase in net worth for all family types from 2017 to 2018.
Total net worth of families was ISK 4.75 trillion ($38.2b/€34.8b) in 2018 and increased by 15.6% from the previous year. However, the increase was less than in 2017 when it was 23% between years. The 10% with the most net worth owned around 57.5% of the total net worth, or ISK 2.73 trillion ($22b/€20b).
Between 2017 and 2018, net worth for individuals increased by 15.6%, married couples without children by 13.8%, married couples with children by 19% and single parents by 25.3%. Net worth between years increased most in the age group of 25-29 years (43.9%) and in the age group of 30-34 years (33.6%).
Debts increase
Total debts were around ISK 2.1 trillion ($17b/€15.5b) at the end of 2018, an increased of 7.6% from the previous year. Total debts of families in the highest 10th decile were around ISK 834 billion ($6.7b/€6.1b) or 39.5% of total debts.
Assets consist of real estate, vehicles, deposits and securities. The report is based on annual tax returns.
