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

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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