Economy of Iceland. Statistics, Data and Indicators
Iceland
| 55A | Credit rank #53 |
| N/A | Quality of life # |
| 17 | Corruption rank#15 |
| 26 | Ease of doing business#21 |
Iceland Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 21.71 USD Billion | 2020 |
| GDP Annual Growth Rate | -1.7 % | 1Q/21 |
| GDP Growth Rate | -5.2 % | 1Q/21 |
| GDP per capita | 47630 USD | 2020 |
| Inflation Rate YoY | 4.3 % | Jun/21 |
| Interest Rate | 1 % | May/21 |
| Unemployment Rate | 5.8 % | May/21 |
| Wages | 695000 ISK/Month | 5599.567 USD/Month | 2019 |
| Balance of Trade | -30207 ISK Million | -0.243 B USD | Jun/21 |
| Current Account | -27070 ISK Billion | -218.101 B USD | 1Q/21 |
| Foreign Exchange Reserves | 855584 ISK Million | 6.893 B USD | Jun/21 |
GDP
21.71
USD Billion
#107 from 174 countries
GDP per capita
47630
USD
#13 from 169 countries
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 21.71 USD Billion | 2020 |
| GDP Annual Growth Rate | -1.7 % | 1Q/21 |
| GDP Growth Rate | -5.2 % | 1Q/21 |
| GDP per capita | 47630 USD | 2020 |
| Gross National Product | 2612659 ISK Million | 21.05 USD Billion | 2020 |
| GDP Constant Prices | 629975 ISK Million | 5.076 B USD | 1Q/21 |
| GDP per capita PPP | 52280 USD | 2020 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 37 % | 2019 |
| Government Budget Value | -58.1 ISK Billion | -0.468 USD Billion | 1Q/21 |
| Government Spending | 156606 ISK Million | 1.262 USD Billion | 1Q/21 |
| Government Revenues | 316 ISK Billion | 2.546 USD Billion | 1Q/21 |
| Fiscal Expenditure | 374 ISK Billion | 3.013 B USD | 1Q/21 |
| Government Budget to GDP | -7.3 % | 2020 |
| Government Spending to GDP | 49.7 % | 2020 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 501 index points | May/21 |
| Export Prices | 107 index points | 2020 |
| Food Inflation | 4.1 % | May/21 |
| Gasoline Prices | 1.72 USD/Liter | Jun/21 |
| GDP Deflator | 115 index points | 2020 |
| Import Prices | 110 index points | 2020 |
| Inflation Rate YoY | 4.3 % | Jun/21 |
| Producer Prices | 235 index points | May/21 |
| Inflation Rate Mom | 0.3 % | Jun/21 |
| Core Consumer Prices | 282 Index Points | Jun/21 |
| Core Inflation Rate | 4.1 % | May/21 |
| CPI Housing Utilities | 494 Index Points | Jun/21 |
| CPI Transportation | 164 Index Points | Jun/21 |
| Harmonised Consumer Prices | 108 Index Points | Jun/21 |
| Producer Prices Change | 9.2 % | May/21 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 1 % | 2020 |
| Balance of Trade | -30207 ISK Million | -0.243 USD Billion | Jun/21 |
| Capital Flows | 13908 ISK Billion | 112.056 USD Billion | 1Q/21 |
| Current Account | -27070 ISK Billion | -218.101 USD Billion | 1Q/21 |
| Exports | 58694 ISK Million | 0.473 USD Billion | Jun/21 |
| External Debt | 2450013 ISK Billion | 19739.588 USD Billion | 1Q/21 |
| Foreign Exchange Reserves | 855584 ISK Million | 6.893 USD Billion | Jun/21 |
| Imports | 88901 ISK Million | 0.716 USD Billion | Jun/21 |
| Tourist Arrivals | 4601 Persons | 0.005 Million Persons | Mar/21 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 1.98 Tonnes | 1Q/21 |
| Interbank Rate | 1.35 % | Jul/21 |
| Interest Rate | 1 % | May/21 |
| Money Supply M0 | 195 ISK Billion | 1.571 USD Billion | Mar/21 |
| Money Supply M1 | 721 ISK Billion | 5.809 USD Billion | Mar/21 |
| Money Supply M2 | 1456 ISK Billion | 11.731 USD Billion | Mar/21 |
| Money Supply M3 | 2137 ISK Billion | 17.218 USD Billion | Mar/21 |
| Central Bank Balance Sheet | 890887 ISK Million | 7.178 B USD | Mar/21 |
| Foreign Direct Investment | -74093 ISK Billion | -596.962 B USD | 1Q/21 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Retirement Age Men | 67 | 2021 |
| Retirement Age Women | 67 | 2021 |
| Unemployment Rate | 5.8 % | May/21 |
| Wages | 695000 ISK/Month | 5599.567 USD/Month | 2019 |
| Youth Unemployment Rate | 15.9 % | Feb/21 |
| Employed Persons | 190300 Person | 0.19 Million Person | May/21 |
| Employment Rate | 72.2 % | May/21 |
| Full Time Employment | 132 Thousand Person | 4Q/20 |
| Job Vacancies | 1854 | 1.854 K | Jun/21 |
| Labor Force Participation Rate | 77.9 % | May/21 |
| Part Time Employment | 43.2 Thousand Persons | 4Q/20 |
| Unemployed Persons | 11900 Persons | 0.012 Million Persons | May/21 |
| Wage Growth | 6 % | Mar/21 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 20 % | 2021 |
| Personal Income Tax Rate | 46.25 % | 2021 |
| Sales Tax Rate | 24 % | 2021 |
| Social Security Rate | 10.1 % | 2021 |
| Social Security Rate For Companies | 6.1 % | 2021 |
| Social Security Rate For Employees | 4 % | 2021 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Bankruptcies | 149 companies | Mar/21 |
| Corruption Index | 75 index points | 2020 |
| Corruption Rank | 17 place | 2020 |
| 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 | 132 index points | Jun/21 |
| Private Debt To GDP | 218 % | 2019 |
| Consumer Spending | 343143 ISK Million | 2.765 USD Billion | 1Q/21 |
| Disposable Personal Income | 4272 ISK Thousand | 0 B USD | 2019 |
Gold Reserves
1.98
Tonnes
#90 from 114 countries
Foreign Exchange Reserves
6.893
USD Billion
#77 from
114 countries
Government Budget Value
-0.468
USD Billion
#32 from 113 countries
Inflation Rate
4.3
%
#72 from
174 countries
Interest Rate
1
%
#94 from
159 countries
Bank Lending Rate
N/A%
#N/A from
N/A countries
Unemployment Rate
5.8
%
#128 from
171 countries
Wages
5599.567
USD/Month
#4 from
82 countries
Retirement Age
67
67
men
women
Taxes
20%
46.25%
company profits
income of individuals
