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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 0.50%.

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.


Back to overview: Iceland

Unemployment rates in percent 1991 - 2020

Economic performance 2020

 Iceland
Total
Iceland
per capita
EU
Total
EU
per capita
GDP21.71 bn USD59,260.89 USD15,192.65 tn USD29,499.72 USD
Gross national product26.29 bn USD71,759.60 USD16,012.29 tn USD31,091.23 USD


Iceland ranked 28th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea.

Development of the Gross domestic product in billion US Dollar 1979 - 2020


Household debt and deficits 2012


 Iceland
Total
Iceland
per capita
EU
Total
EU
per capita
Gross debt12.45 bn USD33,988.07 USD14,618.72 tn USD28,385.31 USD
Budget deficit521.89 m USD1,424.26 USD148.52 bn USD288.39 USD


Im- and Exports 2020

 Iceland
Total
Iceland
per capita
EU
Total
EU
per capita
Imports7.56 bn USD20,618.13 USD7,314.16 bn USD14,201.97 USD
Exports7.43 bn USD20,283.91 USD7,834.94 bn USD15,213.17 USD


Development of imports and exports in billion US dollars 1979 - 2020

Exports
Imports



Iceland: AirportsLargest airports and airlines in IcelandThe 5 biggest airports and 7 airlines in Iceland with further information and data
Iceland: Public HolidaysPublic holidays in Iceland 2021-2025Statutory and inofficial holidays in Iceland for 2021 to 2025
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