Source
Central bank

Central Bank of Iceland

International Reserves

USD 6.3 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019

Gross Domestic Product - GDP

USD 25.9 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 19.5 billion (2018, estimate)

Real GDP growth
2007 2008 2009 2010 2011 2012 2013
9.4% 2% -6.8% -3.4% 1.9% 1.3% 4.1%
2014 2015 2016 2017 2018*    
2.1% 4.7% 6.6% 4.6% 4.6%    

*Estimate

GDP per capita - current prices

USD 74,278.2 (2018, estimate)

GDP per capita - PPP

Intl$ 55,917.3 (2018, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2019*
0.02% 0.02% 0.02% 0.01% 0.01%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 5.8% 
  • industry: 19.7% 
  • services: 74.6%

(2017 estimate)

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

2.1% (2017)

OECD, data retrieved October 2019

 

Inflation
2015 2016 2017 2018* 2019*
1.6% 1.7% 1.8% 2.7% 2.8%

*Estimate

Unemployment rate
2015 2016 2017 2018* 2019*
4% 3% 2.8% 2.7% 3.3%

*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)
2015 2016 2017 2018* 2019*
-0.8% 12.4% 0.5% 1.1% -0.7%

*Estimate

Government bond ratings

Standard & Poor's: A

Moody's: A3

Standard & Poor's / Moody's

Market value of publicly traded shares
2017 2018 2019
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD 0.7 billion (2018 estimate)

Current account balance by percentage of GDP

2.8% (2018 estimate)

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

47.2% (2018)

Shares in world total merchandising export

0.03% (2018)

Shares in world total commercial services export

0.11% (2018)

Total exports

USD 12.2 billion (2018 estimate)

Export commodities

Fish and fish products (42%), aluminum (38%), agricultural products, medicinal and medical products, ferro-silicon (2015)

Total imports

USD 11.4 billion (2018 estimate)

 
 
Source
Import commodities

Machinery and equipment, petroleum products, foodstuffs, textiles

Exports - major partners

Netherlands 25.5%, Spain 13.6%, UK 9.4%, Germany 7.6%, US 7%, France 6.3%, Norway 4.9%

Imports - major partners

Germany 10.7%, Norway 9.2%, China 7%, Netherlands 6.7%, US 6.4%, Denmark 6.2%, UK 5.7%, Sweden 4.1%

FDI inflows
2016 2017 2018
USD -427 million USD -41 million USD -336 million
FDI outflows
2016 2017 2018
USD -1,147 million USD -208 million USD 138 million
Value of cross-border M&A, by country of purchaser
2015 2016 2017 2018
N/A USD 223.7 million USD -87.6 million USD 0.5 million
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: 26 out of 190 countries
Starting a Business: 64 out of 190 countries
Dealing with Construction Permits: 72 out of 190 countries
Getting Electricity: 16 out of 190 countries
Registering Property: 16 out of 190 countries
Getting Credit: 94 out of 190 countries
Protecting Minority Investors: 28 out of 190 countries
Paying Taxes: 42 out of 190 countries
Trading across Borders: 53 out of 190 countries
Enforcing Contracts: 33 out of 190 countries
Resolving Insolvency: 12 out of 190 countries
World Bank - Doing Business 2019

Global competitiveness ranking

26 out of 141 countries

(2019)

Index of Economic Freedom

Ranking: 11 / Score: 77.1 (Mostly free) (2019)

(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

Unitary parliamentary republic

Languages

Icelandic, English, Nordic languages, German

Religions

Evangelical Lutheran Church of Iceland (official) 67.2%, Roman Catholic 3.9%, Reykjavik Free Church 2.8%, Hafnarfjordur Free Church 2%, Asatru Association 1.2%, The Independent Congregation .9%, other religions 4% (includes Zuist and Pentecostal), none 6.

Total population
1990 2000 2010 2015 2020*
0.25 million 0.28 million 0.32 million 0.33 million 0.36 million

*Estimate 

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
80.3% 88.3% 92.4% 93.8%
Population median age

36.7 years

Population growth rate

1.08% (2018 estimate)

Life expectancy

83.1 years (2018 estimate)

Literacy

N/A

% of population living on less than $3.10 a day

0% (last available estimate, 2014)

Inequality of wealth distribution (Gini index)

27.8 (last available estimate, 2014)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 1
Civil Liberties: 1 (2019)                         

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

Source
Total telephone subscribers as % of population

Fixed: 40.6% Mobile: 126.1% (2018)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

99.01% (2018)

Mercer Cost of living index

N/A

CO2 emissions

6.06 (2014)

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