Azerbaijan vs Iceland: Economic Indicators Comparison
Azerbaijan with a GDP of $46.9B ranked the 88th largest economy in the world, while Iceland ranked 108th with $25.9B. By GDP 5-years average growth and GDP per capita, Azerbaijan and Iceland ranked 164th vs 47th and 110th vs 8th, respectively.
Gross Domestic Product & Income
| Stat |  Azerbaijan |  Iceland |
|---|---|---|
| GDP | $46.9B | $25.9B |
| GDP growth, 1 year | 1.4% | 4.6% |
| GDP growth, 5-years average | 0.4% | 4.5% |
| Population | 10M | 357k |
| GDP per capita | $4.7k | $73k |
| GDP per capita growth | 0.51% | 1.6% |
| Purchasing Power Parity conversion factor | 0.44 | 138.33 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.26 | 1.28 |
| GDP per capita, PPP adjusted | $18k | $56k |
| GNI, Atlas method | $40.3B | $24B |
| GNI per capita | $4.1k | $68k |
| GNI, PPP adjusted | $170B | $19.5B |
| GNI per capita, PPP adjusted | $17k | $55k |
Financial system and Human development
| Stat | Azerbaijan | Iceland |
|---|---|---|
| Income Tax Rate | 25% | 31.8% |
| Corporate Tax Rate | 20% | 20% |
| Inflation, consumer prices | 2.3% | 2.7% |
| Inflation, GDP deflator | 11.9% | 2.4% |
| Unemployment | 5.2% | 2.9% |
| Economic Freedom Index | 69.3 | 77.1 |
| Personal Freedom Index | 6.73 | 9.27 |
| Human Freedom Index | 6.44 | 8.22 |
| Property Rights Index | 67.1 | 87.6 |
| Judical Effectiveness Index | 53.9 | 63.2 |
| Business Freedom Index | 80.8 | 84.7 |
| Fiscal Health Index | 99.2 | 97.5 |
| Labor Freedom Index | 66.2 | 63.5 |
| Investment Freedom Index | 70 | 85 |
| Financial Freedom Index | 60 | 70 |
| Trade Freedom Index | 74.6 | 86.8 |
| Monetary Freedom Index | 69.8 | 80.3 |
| Government Spending Index | 63 | 44.1 |
| Tax Burden Index | 88 | 71.7 |
| Government Integrity Index | 38.7 | 90.3 |
| Corruption Perceptions Index | 25 | 76 |
| Life expectancy at birth, years | 72.7 | 82.2 |
| Suicide mortality rate, per 100,000 people | 2.6 | 14 |
| Mortality caused by road traffic injury, per 100,000 people | 8.7 | 6.6 |
| Intentional homicides, per 100,000 people | 2 | 0.9 |
| International tourism, number of arrivals | 2.6M | 2.3M |
Government debt & reserves
| Stat | Azerbaijan | Iceland |
|---|---|---|
| Central government debt, % of GDP | 19.4% | 35.4% |
| External debt stocks, % of GNI | 36.4% | N/A |
| External debt stocks | $16.2B | N/A |
| Short-term debt, % of total reserves | 8.5% | N/A |
| Total debt service, % of exports and primary income | 10.5% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 9.5% | 16.6% |
| Gross savings, % of GDP | 33% | 21.2% |
| Gross capital formation, % of GDP | 20.1% | 22.6% |
| Total reserves including gold | $6.7B | $6.3B |
| Foreign direct investment net inflows | $1.4B | -$434.6M |
Exports, imports and economic structure
| Stat | Azerbaijan | Iceland |
|---|---|---|
| Exports of goods and services, % of GDP | 54.3% | 47.2% |
| Imports of goods and services, % of GDP | 37.7% | 44.1% |
| Current account balance (balance of payments) | $6.1B | $731.3M |
| Revenue excluding grants, % of GDP | 35.1% | 31% |
| Grants excluding technical cooperation, BoP | $45.7M | N/A |
| Personal remittances received | $1.2B | $168.9M |
| Industry including construction value added, % of GDP | 52.2% | 19.6% |
| Agriculture, forestry and fishing value added, % of GDP | 5.3% | 4.6% |
| Charges for the use of intellectual property, payments BoP | $28.2M | $143.4M |
| Charges for the use of intellectual property, receipts BoP | $28k | $241.7M |
| Expense, % of GDP | 28% | 30.8% |
| Government Expenditure, % of GDP | 35.1% | 43.2% |
