Austria vs Iceland: Economic Indicators Comparison

Austria with a GDP of $455.3B ranked the 28th largest economy in the world, while Iceland ranked 108th with $25.9B. By GDP 5-years average growth and GDP per capita, Austria and Iceland ranked 139th vs 47th and 16th vs 8th, respectively.

Gross Domestic Product & Income

StatAustriaIceland
GDP$455.3B$25.9B
GDP growth, 1 year2.7%4.6%
GDP growth, 5-years average1.8%4.5%
Population8.8M357k
GDP per capita$51k$73k
GDP per capita growth1.85%1.6%
Purchasing Power Parity conversion factor0.79138.33
Price level ratio of PPP conversion factor GDP to market exchange rate0.931.28
GDP per capita, PPP adjusted$52k$56k
GNI, Atlas method$436.3B$24B
GNI per capita$49k$68k
GNI, PPP adjusted$489.3B$19.5B
GNI per capita, PPP adjusted$55k$55k

Financial system and Human development

StatAustriaIceland
Income Tax Rate50%31.8%
Corporate Tax Rate25%20%
Inflation, consumer prices2.1%2.7%
Inflation, GDP deflator1.7%2.4%
Unemployment4.8%2.9%
Economic Freedom Index73.377.1
Personal Freedom Index9.029.27
Human Freedom Index8.428.22
Property Rights Index87.387.6
Judical Effectiveness Index73.263.2
Business Freedom Index7384.7
Fiscal Health Index87.997.5
Labor Freedom Index68.363.5
Investment Freedom Index9085
Financial Freedom Index7070
Trade Freedom Index86.486.8
Monetary Freedom Index8180.3
Government Spending Index27.244.1
Tax Burden Index51.371.7
Government Integrity Index8490.3
Corruption Perceptions Index7676
Life expectancy at birth, years81.682.2
Suicide mortality rate, per 100,000 people15.614
Mortality caused by road traffic injury, per 100,000 people5.26.6
Intentional homicides, per 100,000 people0.70.9
International tourism, number of arrivals30.8M2.3M

Government debt & reserves

StatAustriaIceland
Central government debt, % of GDP74.2%35.4%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI14.1%16.6%
Gross savings, % of GDP27.6%21.2%
Gross capital formation, % of GDP25.1%22.6%
Total reserves including gold$23.2B$6.3B
Foreign direct investment net inflows$4.2B-$434.6M

Exports, imports and economic structure

StatAustriaIceland
Exports of goods and services, % of GDP55.8%47.2%
Imports of goods and services, % of GDP52%44.1%
Current account balance (balance of payments)$10.8B$731.3M
Revenue excluding grants, % of GDP43.4%31%
Grants excluding technical cooperation, BoPN/AN/A
Personal remittances received$3.1B$168.9M
Industry including construction value added, % of GDP25.7%19.6%
Agriculture, forestry and fishing value added, % of GDP1.1%4.6%
Charges for the use of intellectual property, payments BoP$2B$143.4M
Charges for the use of intellectual property, receipts BoP$1.4B$241.7M
Expense, % of GDP44.2%30.8%
Government Expenditure, % of GDP49.3%43.2%

Compare with countries close by GDP per capita

Austria vs

CountryGDP
per capita
Population
Monaco
$186k
38.7k
Liechtenstein
$165k
37.9k
Luxembourg
$117k
626k
Switzerland
$83k
8.47M
Norway
$82k
5.37M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
24.5M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k

Iceland vs

CountryGDP
per capita
Population
Monaco
$186k
38.7k
Liechtenstein
$165k
37.9k
Luxembourg
$117k
626k
Switzerland
$83k
8.47M
Norway
$82k
5.37M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
24.5M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k