Indicators of economy in Iceland

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.922 US Dollar per capita. In contrast, the GDP in Iceland reached 59.261 US dollars per inhabitant, or 21.71 bn US Dollar in the whole country. Iceland is one of the smaller economies and is currently ranked 110. If this is calculated per inhabitant taking into account the purchasing power parity, then Iceland is in the list of the world's richest countries in place 12.

Inflation in Iceland was in 2020 at around 2.85%. For the the EU, the average of the same was year at 0.51%.

Compared to Germany, the prices of daily necessities are approximately 27.89% higher.
The Corruption Perceptions Index for the public sector counts 75 and is compared to other countries good.


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