Belize vs Iceland: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Belize |  Iceland |
|---|---|---|
| GDP | $1.9B | $25.9B |
| GDP growth, 1 year | 3% | 4.6% |
| GDP growth, 5-years average | 2.2% | 4.5% |
| Population | 375k | 357k |
| GDP per capita | $4.9k | $73k |
| GDP per capita growth | 1.07% | 1.6% |
| Purchasing Power Parity conversion factor | 1.13 | 138.33 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.56 | 1.28 |
| GDP per capita, PPP adjusted | $8.5k | $56k |
| GNI, Atlas method | $1.7B | $24B |
| GNI per capita | $4.5k | $68k |
| GNI, PPP adjusted | $3B | $19.5B |
| GNI per capita, PPP adjusted | $7.8k | $55k |
Financial system and Human development
| Stat | Belize | Iceland |
|---|---|---|
| Income Tax Rate | 25% | 31.8% |
| Corporate Tax Rate | 25% | 20% |
| Inflation, consumer prices | 0.3% | 2.7% |
| Inflation, GDP deflator | -1.1% | 2.4% |
| Unemployment | 9.4% | 2.9% |
| Economic Freedom Index | 57.4 | 77.1 |
| Personal Freedom Index | 7.4 | 9.27 |
| Human Freedom Index | 7.37 | 8.22 |
| Property Rights Index | 44.4 | 87.6 |
| Judical Effectiveness Index | 46.4 | 63.2 |
| Business Freedom Index | 60.9 | 84.7 |
| Fiscal Health Index | 53.9 | 97.5 |
| Labor Freedom Index | 54.3 | 63.5 |
| Investment Freedom Index | 55 | 85 |
| Financial Freedom Index | 50 | 70 |
| Trade Freedom Index | 64.2 | 86.8 |
| Monetary Freedom Index | 80.4 | 80.3 |
| Government Spending Index | 66.3 | 44.1 |
| Tax Burden Index | 79.5 | 71.7 |
| Government Integrity Index | 33.5 | 90.3 |
| Corruption Perceptions Index | 58 | 76 |
| Life expectancy at birth, years | 74.4 | 82.2 |
| Suicide mortality rate, per 100,000 people | 4.7 | 14 |
| Mortality caused by road traffic injury, per 100,000 people | 28.3 | 6.6 |
| Intentional homicides, per 100,000 people | 37.9 | 0.9 |
| International tourism, number of arrivals | 489k | 2.3M |
Government debt & reserves
| Stat | Belize | Iceland |
|---|---|---|
| Central government debt, % of GDP | 94.8% | 35.4% |
| External debt stocks, % of GNI | 76.8% | N/A |
| External debt stocks | $1.4B | N/A |
| Short-term debt, % of total reserves | 1.2% | N/A |
| Total debt service, % of exports and primary income | 10.1% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | -0.9% | 16.6% |
| Gross savings, % of GDP | 8.5% | 21.2% |
| Gross capital formation, % of GDP | 19% | 22.6% |
| Total reserves including gold | $294.5M | $6.3B |
| Foreign direct investment net inflows | $119.5M | -$434.6M |
Exports, imports and economic structure
| Stat | Belize | Iceland |
|---|---|---|
| Exports of goods and services, % of GDP | 57.7% | 47.2% |
| Imports of goods and services, % of GDP | 58% | 44.1% |
| Current account balance (balance of payments) | -$154.9M | $731.3M |
| Revenue excluding grants, % of GDP | 29.4% | 31% |
| Grants excluding technical cooperation, BoP | $17.1M | N/A |
| Personal remittances received | $92.5M | $168.9M |
| Industry including construction value added, % of GDP | 12% | 19.6% |
| Agriculture, forestry and fishing value added, % of GDP | 9.6% | 4.6% |
| Charges for the use of intellectual property, payments BoP | $7.9M | $143.4M |
| Charges for the use of intellectual property, receipts BoP | $2.5M | $241.7M |
| Expense, % of GDP | 27.6% | 30.8% |
| Government Expenditure, % of GDP | 33.5% | 43.2% |
