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Economy of Iceland. Statistics, Data and Indicators

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Iceland
55A Credit rank #53
N/A Quality of life #
14 Corruption rank#15
26 Ease of doing business#21
Iceland


Iceland Major Economic Indicators

Indicator Data Period
GDP Value 27.84 USD Billion 2022
GDP Annual Growth Rate 4.5 % 2Q/23
GDP Growth Rate 2.2 % 2Q/23
GDP per capita 55887 USD 2022
Inflation Rate YoY 8 % Sep/23
Interest Rate 9.25 % Oct/23
Unemployment Rate 3.3 % Aug/23
Wages 808000 ISK/Month | 5859.446 USD/Month 2022
Balance of Trade -23742 ISK Million | -0.172 B USD Sep/23
Current Account 7534 ISK Billion | 54.635 B USD 2Q/23
Foreign Exchange Reserves 744250 ISK Million | 5.397 B USD Aug/23


GDP Indicators

Indicator Data Period
GDP Value 27.84 USD Billion 2022
GDP Annual Growth Rate 4.5 % 2Q/23
GDP Growth Rate 2.2 % 2Q/23
GDP per capita 55887 USD 2022
Gross National Product 2886508 ISK Million | 20.932 USD Billion 2022
GDP Constant Prices 751287 ISK Million | 5.448 B USD 2Q/23
GDP per capita PPP 55033 USD 2022


Budget Indicators

Indicator Data Period
Government Debt to GDP 68.7 % 2022
Government Budget Value -15.7 ISK Billion | -0.114 USD Billion 2Q/23
Government Spending 171206 ISK Million | 1.242 USD Billion 2Q/23
Government Revenues 449 ISK Billion | 3.256 USD Billion 2Q/23
Fiscal Expenditure  465 ISK Billion | 3.372 B USD 2Q/23
Government Budget to GDP -4.3 % 2022
Government Spending to GDP 46.1 % 2022


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 600 index points Sep/23
Export Prices 138 index points 2022
Food Inflation 12.4 % Sep/23
Gasoline Prices 2.36 USD/Liter Sep/23
GDP Deflator 134 index points 2022
Import Prices 133 index points 2022
Inflation Rate YoY 8 % Sep/23
Producer Prices 272 index points Aug/23
Inflation Rate Mom 0.4 % Sep/23
Core Consumer Prices 334 Index Points Sep/23
Core Inflation Rate 7.91 % Sep/23
CPI Housing Utilities 632 Index Points Sep/23
CPI Transportation 192 Index Points Sep/23
Harmonised Consumer Prices 124 Index Points Aug/23
Producer Prices Change  -5.7 % Aug/23


Trade Indicators

Indicator Data Period
Current Account to GDP -1.5 % 2022
Balance of Trade -23742 ISK Million | -0.172 USD Billion Sep/23
Capital Flows -12026 ISK Billion | -87.21 USD Billion 2Q/23
Current Account 7534 ISK Billion | 54.635 USD Billion 2Q/23
Exports 83823 ISK Million | 0.608 USD Billion Sep/23
External Debt 2925398 ISK Billion | 21214.369 USD Billion 2Q/23
Foreign Exchange Reserves 744250 ISK Million | 5.397 USD Billion Aug/23
Imports 107565 ISK Million | 0.78 USD Billion Sep/23
Tourist Arrivals 281514 Persons | 0.282 Million Persons Aug/23


Money Indicators

Indicator Data Period
Gold Reserves 1.98 Tonnes 2Q/23
Interbank Rate 9.68 % Oct/23
Interest Rate 9.25 % Oct/23
Money Supply M0 138 ISK Billion | 1.001 USD Billion Aug/23
Money Supply M1 761 ISK Billion | 5.519 USD Billion Aug/23
Money Supply M2 1966 ISK Billion | 14.257 USD Billion Aug/23
Money Supply M3 2789 ISK Billion | 20.225 USD Billion Aug/23
Central Bank Balance Sheet 780027 ISK Million | 5.657 B USD Aug/23
Foreign Direct Investment -62518 ISK Billion | -453.367 B USD 2Q/23


Labor Indicators

Indicator Data Period
Retirement Age Men 67 2022
Retirement Age Women 67 2022
Unemployment Rate 3.3 % Aug/23
Wages 808000 ISK/Month | 5859.446 USD/Month 2022
Youth Unemployment Rate 4.4 % Aug/23
Employed Persons 223300 Person | 0.223 Million Person Aug/23
Employment Rate  78.7 % Aug/23
Full Time Employment 168 Thousand Person 2Q/23
Job Vacancies 249 | 0.249 K Aug/23
Labor Force Participation Rate 81.4 % Aug/23
Part Time Employment 42.1 Thousand Persons 2Q/23
Unemployed Persons 7600 Persons | 0.008 Million Persons Aug/23
Wage Growth  2.8 % Aug/23


Taxes



Business Indicators

Indicator Data Period
Bankruptcies 5 companies Aug/23
Corruption Index 74 index points 2022
Corruption Rank 14 place 2022
Ease of Doing Business 26 place 2019
Competitiveness Index 74.72 Index Points 2019
Competitiveness Rank 26 2019


Consumer Indicators

Indicator Data Period
Consumer Confidence 85.37 index points Sep/23
Private Debt To GDP 243 % 2021
Consumer Spending 411816 ISK Million | 2.986 USD Billion 2Q/23
Disposable Personal Income 4272 ISK Thousand | 0 B USD 2019