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 10.915 US Dollar per capita. In contrast, the GDP in Iceland reached 59.270 US dollars per inhabitant, or 21.72 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 19.

Inflation in Iceland was in 2021 at around 4.44%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 26.9% higher.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Iceland