Source
Central bank

Central Bank of Iceland

International Reserves

USD 7.2 billion (2016)

International Monetary Fund (IMF), data retrieved January 2017

Gross Domestic Product - GDP

USD 21.4 billion (2017, estimate)

GDP (Purchasing Power Parity)

Intl$ 17.1 billion (2017, estimate)

Real GDP growth
2006 2007 2008 2009 2010 2011 2012
4.2% 9.5% 1.5% -4.7% -3.6% 2% 1.3%
2013 2014 2015 2016* 2017*    
4.4% 2% 4% 5% 3.8%    

*Estimate

GDP per capita - current prices

USD 63,032.80 (2017, estimate)

GDP per capita - PPP

Intl$ 50,424.9 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.02% 0.02% 0.02% 0.01% 0.01%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 5.9% 
  • industry: 20.4% 
  • services: 73.7%

(2016 estimate)

Gross domestic expenditure on R&D; (% of GDP)

1.9% (2014)

OECD, data retrieved January 2017

 

Inflation
2013 2014 2015 2016* 2017*
3.9% 2.0% 1.6% 1.7% 3.1%

*Estimate

Unemployment rate
2013 2014 2015 2016* 2017*
5.4% 5.0% 4.0% 3.4% 3.5%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2013 2014 2015 2016* 2017*
84.8% 82.5% 67.6% 55.1% 51.8%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015 2016* 2017*
-1.8% -0.1% -0.5% 14.7% 0.5%

*Estimate

Government bond ratings

Standard & Poor's: A-

Moody's: A3

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD 0.4 billion (2017 estimate)

Current account balance by percentage of GDP

1.9% (2017 estimate)

Exports as percent of GDP (Exports of goods and services)

53.6% (2014)

Shares in world total merchandising export

0.03% (2015)

Shares in world total commercial services export

0.09% (2015)

Total exports

USD 4.6 billion (2016 estimate)

Export commodities

Fish and fish products 40%, aluminum, animal products, ferrosilicon, diatomite (2010 estimate)

Total imports

USD 5.0 billion (2016 estimate)

 
 
Source
Import commodities

Machinery and equipment, petroleum products, foodstuffs, textiles

Exports - major partners

Netherlands 26.1%, UK 11.6%, Spain 11.5%, Germany 7.4%, France 5.7%, US 5.7%, Norway 4.7% (2015)

Imports - major partners

Norway 10.1%, Germany 8.6%, US 7.9%, China 7.9%, Denmark 7.1%, Netherlands 5.9%, Brazil 5.8%, UK 5% (2015)

FDI inflows
2013 2014 2015
USD 397 million USD 447 million USD -76 million
FDI outflows
2013 2014 2015
USD 460 million USD -257 million USD -599 million
Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
USD -2558.6 million USD 126.4 million N/A N/A
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 20 out of 190 countries (2017)

Subcategories:

Starting a business: 34 out of 190 countries

Enforcing Contracts: 32 out of 190 countries

Registering Property: 15 out of 190 countries

Getting Credit: 62 out of 190 countries

Protecting Minority Investors: 22 out of 190 countries

Trading Across Borders: 66 out of 190 countries

Paying Taxes: 29 out of 190 countries

Dealing with Construction Permits: 70 out of 190 countries

Getting Electricity: 9 out of 190 countries

Resolving Insolvency: 14 out of 190 countries

Global competitiveness ranking

27 out of 138 countries

(2016-2017)

Index of Economic Freedom

Ranking: 20 / Score: 73.34 (Mostly free) (2016)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC 0

Total area

103,000 sq km

Capital

Reykjavik

Currency

Icelandic kronur (ISK) 

Government type

Parliamentary republic

Languages

Icelandic, English, Nordic languages, German widely spoken

Religions

Evangelical Lutheran Church of Iceland (official) 73.8%, Roman Catholic 3.6%, Reykjavik Free Church 2.9%, Hafnarfjorour Free Church 2%, The Independent Congregation 1%, other religions 3.9% (includes Pentecostal and Asatru Association), none 5.6%, other or unspecified 7.2% (2015 est.)

Total population
1990 2000 2010 2016* 2021*
0.256 million 0.283 million 0.318 million 0.336 million 0.353 million

*Estimate 

 
 
Source
Urban population as % of total population
1960 1980 2000 2015
80% 88% 92% 94%
Population median age

36.3 years (2016 estimate)

Population growth rate

1.17% (2016 estimate)

Life expectancy

83 years (2016 estimate)

Literacy

N/A

% of population living on less than $3.10 a day

N/A

Inequality of wealth distribution (Gini index)

26.9 (2012)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 1
Civil Liberties: 1 (2017)                         

(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed 49.94%   Mobile 114.01% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

98.2% (2015)

Mercer Cost of living index

N/A

CO2 emissions

6.1 (2013)

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