Economy of Iceland. Statistics, Data and Indicators
Iceland
| 55A | Credit rank #53 |
| N/A | Quality of life # |
| 14 | Corruption rank#15 |
| 26 | Ease of doing business#21 |
Iceland Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 25.6 USD Billion | 2021 |
| GDP Annual Growth Rate | 7.3 % | 3Q/22 |
| GDP Growth Rate | -0.5 % | 3Q/22 |
| GDP per capita | 54417 USD | 2021 |
| Inflation Rate YoY | 9.9 % | Jan/23 |
| Interest Rate | 6 % | Dec/22 |
| Unemployment Rate | 3.3 % | Dec/22 |
| Wages | 770000 ISK/Month | 5459.148 USD/Month | 2021 |
| Balance of Trade | -12767 ISK Million | -0.091 B USD | Dec/22 |
| Current Account | 23121 ISK Billion | 163.923 B USD | 3Q/22 |
| Foreign Exchange Reserves | 837086 ISK Million | 5.935 B USD | Dec/22 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 25.6 USD Billion | 2021 |
| GDP Annual Growth Rate | 7.3 % | 3Q/22 |
| GDP Growth Rate | -0.5 % | 3Q/22 |
| GDP per capita | 54417 USD | 2021 |
| Gross National Product | 2705807 ISK Million | 19.184 USD Billion | 2021 |
| GDP Constant Prices | 710110 ISK Million | 5.035 B USD | 3Q/22 |
| GDP per capita PPP | 53586 USD | 2021 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 75 % | 2021 |
| Government Budget Value | -53.3 ISK Billion | -0.378 USD Billion | 3Q/22 |
| Government Spending | 165774 ISK Million | 1.175 USD Billion | 3Q/22 |
| Government Revenues | 394 ISK Billion | 2.793 USD Billion | 3Q/22 |
| Fiscal Expenditure | 448 ISK Billion | 3.176 B USD | 3Q/22 |
| Government Budget to GDP | -8.9 % | 2021 |
| Government Spending to GDP | 49.3 % | 2021 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 569 index points | Jan/23 |
| Export Prices | 117 index points | 2021 |
| Food Inflation | 10.8 % | Jan/23 |
| Gasoline Prices | 2.28 USD/Liter | Jan/23 |
| GDP Deflator | 121 index points | 2021 |
| Import Prices | 114 index points | 2021 |
| Inflation Rate YoY | 9.9 % | Jan/23 |
| Producer Prices | 289 index points | Dec/22 |
| Inflation Rate Mom | 0.9 % | Jan/23 |
| Core Consumer Prices | 317 Index Points | Jan/23 |
| Core Inflation Rate | 9.13 % | Jan/23 |
| CPI Housing Utilities | 598 Index Points | Jan/23 |
| CPI Transportation | 189 Index Points | Jan/23 |
| Harmonised Consumer Prices | 116 Index Points | Dec/22 |
| Producer Prices Change | 8.5 % | Dec/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | -2.7 % | 2021 |
| Balance of Trade | -12767 ISK Million | -0.091 USD Billion | Dec/22 |
| Capital Flows | 61709 ISK Billion | 437.505 USD Billion | 3Q/22 |
| Current Account | 23121 ISK Billion | 163.923 USD Billion | 3Q/22 |
| Exports | 101234 ISK Million | 0.718 USD Billion | Dec/22 |
| External Debt | 2898613 ISK Billion | 20550.594 USD Billion | 3Q/22 |
| Foreign Exchange Reserves | 837086 ISK Million | 5.935 USD Billion | Dec/22 |
| Imports | 114001 ISK Million | 0.808 USD Billion | Dec/22 |
| Tourist Arrivals | 114788 Persons | 0.115 Million Persons | Dec/22 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 1.98 Tonnes | 4Q/22 |
| Interbank Rate | 6.49 % | Feb/23 |
| Interest Rate | 6 % | Dec/22 |
| Money Supply M0 | 163 ISK Billion | 1.156 USD Billion | Dec/22 |
| Money Supply M1 | 819 ISK Billion | 5.807 USD Billion | Dec/22 |
| Money Supply M2 | 1789 ISK Billion | 12.684 USD Billion | Dec/22 |
| Money Supply M3 | 2549 ISK Billion | 18.072 USD Billion | Dec/22 |
| Central Bank Balance Sheet | 874026 ISK Million | 6.197 B USD | Dec/22 |
| Foreign Direct Investment | 89995 ISK Billion | 638.047 B USD | 3Q/22 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Retirement Age Men | 67 | 2022 |
| Retirement Age Women | 67 | 2022 |
| Unemployment Rate | 3.3 % | Dec/22 |
| Wages | 770000 ISK/Month | 5459.148 USD/Month | 2021 |
| Youth Unemployment Rate | 5.3 % | Dec/22 |
| Employed Persons | 213600 Person | 0.214 Million Person | Dec/22 |
| Employment Rate | 77.2 % | Dec/22 |
| Full Time Employment | 158 Thousand Person | 3Q/22 |
| Job Vacancies | 760 | 0.76 K | Apr/22 |
| Labor Force Participation Rate | 79.8 % | Dec/22 |
| Part Time Employment | 42.1 Thousand Persons | 3Q/22 |
| Unemployed Persons | 7200 Persons | 0.007 Million Persons | Dec/22 |
| Wage Growth | 2.6 % | Dec/22 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 20 % | 2022 |
| Personal Income Tax Rate | 46.25 % | 2022 |
| Sales Tax Rate | 24 % | 2022 |
| Social Security Rate | 15.5 % | 2022 |
| Social Security Rate For Companies | 11.5 % | 2022 |
| Social Security Rate For Employees | 4 % | 2022 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Bankruptcies | 43 companies | Nov/22 |
| 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 | 90.08 index points | Nov/22 |
| Private Debt To GDP | 242 % | 2021 |
| Consumer Spending | 389713 ISK Million | 2.763 USD Billion | 3Q/22 |
| Disposable Personal Income | 4272 ISK Thousand | 0 B USD | 2019 |
