Colombia vs Iceland: Economic Indicators Comparison

Colombia with a GDP of $331B ranked the 39th largest economy in the world, while Iceland ranked 108th with $25.9B. By GDP 5-years average growth and GDP per capita, Colombia and Iceland ranked 101st vs 47th and 94th vs 8th, respectively.

Gross Domestic Product & Income

StatColombiaIceland
GDP$331B$25.9B
GDP growth, 1 year2.7%4.6%
GDP growth, 5-years average2.8%4.5%
Population49.1M357k
GDP per capita$6.7k$73k
GDP per capita growth1.02%1.6%
Purchasing Power Parity conversion factor1312.74138.33
Price level ratio of PPP conversion factor GDP to market exchange rate0.441.28
GDP per capita, PPP adjusted$15k$56k
GNI, Atlas method$306.9B$24B
GNI per capita$6.2k$68k
GNI, PPP adjusted$718.9B$19.5B
GNI per capita, PPP adjusted$14k$55k

Financial system and Human development

StatColombiaIceland
Income Tax Rate39%31.8%
Corporate Tax Rate33%20%
Inflation, consumer prices3.2%2.7%
Inflation, GDP deflator3.7%2.4%
Unemployment9.1%2.9%
Economic Freedom Index69.277.1
Personal Freedom Index6.939.27
Human Freedom Index6.788.22
Property Rights Index61.187.6
Judical Effectiveness Index32.863.2
Business Freedom Index71.384.7
Fiscal Health Index85.597.5
Labor Freedom Index7863.5
Investment Freedom Index8085
Financial Freedom Index7070
Trade Freedom Index81.286.8
Monetary Freedom Index77.580.3
Government Spending Index7744.1
Tax Burden Index70.471.7
Government Integrity Index46.190.3
Corruption Perceptions Index3676
Life expectancy at birth, years76.982.2
Suicide mortality rate, per 100,000 people7.214
Mortality caused by road traffic injury, per 100,000 people18.56.6
Intentional homicides, per 100,000 people24.90.9
International tourism, number of arrivals3.9M2.3M

Government debt & reserves

StatColombiaIceland
Central government debt, % of GDP50.5%35.4%
External debt stocks, % of GNI42.3%N/A
External debt stocks$134.9BN/A
Short-term debt, % of total reserves31.5%N/A
Total debt service, % of exports and primary income40.8%N/A
Adjusted net savings including particulate emission damage, % of GNI2.8%16.6%
Gross savings, % of GDP15.1%21.2%
Gross capital formation, % of GDP21.2%22.6%
Total reserves including gold$47.9B$6.3B
Foreign direct investment net inflows$11.5B-$434.6M

Exports, imports and economic structure

StatColombiaIceland
Exports of goods and services, % of GDP15.9%47.2%
Imports of goods and services, % of GDP20.8%44.1%
Current account balance (balance of payments)-$13B$731.3M
Revenue excluding grants, % of GDP22.9%31%
Grants excluding technical cooperation, BoP$741.3MN/A
Personal remittances received$6.4B$168.9M
Industry including construction value added, % of GDP26.7%19.6%
Agriculture, forestry and fishing value added, % of GDP6.3%4.6%
Charges for the use of intellectual property, payments BoP$471.4M$143.4M
Charges for the use of intellectual property, receipts BoP$105.6M$241.7M
Expense, % of GDP25.3%30.8%
Government Expenditure, % of GDP27.7%43.2%

Compare with countries close by GDP per capita

Colombia vs

CountryGDP
per capita
Population
Bulgaria
$9.3k
7M
Brazil
$8.9k
210M
Montenegro
$8.8k
622k
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k

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
Austria
$51k
8.81M
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