Cyprus vs Iceland: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Cyprus |  Iceland |
|---|---|---|
| GDP | $25B | $25.9B |
| GDP growth, 1 year | 3.9% | 4.6% |
| GDP growth, 5-years average | 2.8% | 4.5% |
| Population | 1.1M | 357k |
| GDP per capita | $28k | $73k |
| GDP per capita growth | 2.75% | 1.6% |
| Purchasing Power Parity conversion factor | 0.63 | 138.33 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.74 | 1.28 |
| GDP per capita, PPP adjusted | $40k | $56k |
| GNI, Atlas method | $24.9B | $24B |
| GNI per capita | $26k | $68k |
| GNI, PPP adjusted | $34.7B | $19.5B |
| GNI per capita, PPP adjusted | $35k | $55k |
Financial system and Human development
| Stat | Cyprus | Iceland |
|---|---|---|
| Income Tax Rate | 35% | 31.8% |
| Corporate Tax Rate | 12.5% | 20% |
| Inflation, consumer prices | 0.8% | 2.7% |
| Inflation, GDP deflator | 1.4% | 2.4% |
| Unemployment | 8.1% | 2.9% |
| Economic Freedom Index | 70.1 | 77.1 |
| Personal Freedom Index | 8.96 | 9.27 |
| Human Freedom Index | 8.39 | 8.22 |
| Property Rights Index | 77.4 | 87.6 |
| Judical Effectiveness Index | 50.5 | 63.2 |
| Business Freedom Index | 76.6 | 84.7 |
| Fiscal Health Index | 80 | 97.5 |
| Labor Freedom Index | 59.7 | 63.5 |
| Investment Freedom Index | 75 | 85 |
| Financial Freedom Index | 60 | 70 |
| Trade Freedom Index | 86.4 | 86.8 |
| Monetary Freedom Index | 84.3 | 80.3 |
| Government Spending Index | 58.6 | 44.1 |
| Tax Burden Index | 74.8 | 71.7 |
| Government Integrity Index | 57.6 | 90.3 |
| Corruption Perceptions Index | 59 | 76 |
| Life expectancy at birth, years | 80.7 | 82.2 |
| Suicide mortality rate, per 100,000 people | 5.3 | 14 |
| Mortality caused by road traffic injury, per 100,000 people | 5.1 | 6.6 |
| Intentional homicides, per 100,000 people | 0.6 | 0.9 |
| International tourism, number of arrivals | 3.9M | 2.3M |
Government debt & reserves
| Stat | Cyprus | Iceland |
|---|---|---|
| Central government debt, % of GDP | 102.5% | 35.4% |
| External debt stocks, % of GNI | N/A | N/A |
| External debt stocks | N/A | N/A |
| Short-term debt, % of total reserves | N/A | N/A |
| Total debt service, % of exports and primary income | N/A | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 3.2% | 16.6% |
| Gross savings, % of GDP | 21.8% | 21.2% |
| Gross capital formation, % of GDP | 19.1% | 22.6% |
| Total reserves including gold | $924.2M | $6.3B |
| Foreign direct investment net inflows | $5.2B | -$434.6M |
Exports, imports and economic structure
| Stat | Cyprus | Iceland |
|---|---|---|
| Exports of goods and services, % of GDP | 73.1% | 47.2% |
| Imports of goods and services, % of GDP | 72.3% | 44.1% |
| Current account balance (balance of payments) | -$1.1B | $731.3M |
| Revenue excluding grants, % of GDP | 37.4% | 31% |
| Grants excluding technical cooperation, BoP | $34.2M | N/A |
| Personal remittances received | $497.8M | $168.9M |
| Industry including construction value added, % of GDP | 12.2% | 19.6% |
| Agriculture, forestry and fishing value added, % of GDP | 2% | 4.6% |
| Charges for the use of intellectual property, payments BoP | $127.2M | $143.4M |
| Charges for the use of intellectual property, receipts BoP | $174k | $241.7M |
| Expense, % of GDP | 35.4% | 30.8% |
| Government Expenditure, % of GDP | 37.1% | 43.2% |
