The Gambia vs Iceland: Economic Indicators Comparison
Iceland with a GDP of $25.9B ranked the 108th largest economy in the world, while the Gambia ranked 178th with $1.6B. By GDP 5-years average growth and GDP per capita, Iceland and the Gambia ranked 47th vs 80th and 8th vs 183rd, respectively.
Gross Domestic Product & Income
| Stat |  Gambia |  Iceland |
|---|---|---|
| GDP | $1.6B | $25.9B |
| GDP growth, 1 year | 6.6% | 4.6% |
| GDP growth, 5-years average | 3.3% | 4.5% |
| Population | 2.1M | 357k |
| GDP per capita | $716 | $73k |
| GDP per capita growth | 3.45% | 1.6% |
| Purchasing Power Parity conversion factor | 13.2 | 138.33 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.27 | 1.28 |
| GDP per capita, PPP adjusted | $2.8k | $56k |
| GNI, Atlas method | $1.6B | $24B |
| GNI per capita | $710 | $68k |
| GNI, PPP adjusted | $5.8B | $19.5B |
| GNI per capita, PPP adjusted | $2.6k | $55k |
Financial system and Human development
| Stat | Gambia | Iceland |
|---|---|---|
| Income Tax Rate | 35% | 31.8% |
| Corporate Tax Rate | 32% | 20% |
| Inflation, consumer prices | 6.5% | 2.7% |
| Inflation, GDP deflator | 5.2% | 2.4% |
| Unemployment | 8.9% | 2.9% |
| Economic Freedom Index | 56.3 | 77.1 |
| Personal Freedom Index | 5.86 | 9.27 |
| Human Freedom Index | 6.52 | 8.22 |
| Property Rights Index | 43.9 | 87.6 |
| Judical Effectiveness Index | 43.4 | 63.2 |
| Business Freedom Index | 53.5 | 84.7 |
| Fiscal Health Index | 25.3 | 97.5 |
| Labor Freedom Index | 67.4 | 63.5 |
| Investment Freedom Index | 65 | 85 |
| Financial Freedom Index | 50 | 70 |
| Trade Freedom Index | 64.6 | 86.8 |
| Monetary Freedom Index | 63.3 | 80.3 |
| Government Spending Index | 85.6 | 44.1 |
| Tax Burden Index | 74.6 | 71.7 |
| Government Integrity Index | 39.2 | 90.3 |
| Corruption Perceptions Index | 37 | 76 |
| Life expectancy at birth, years | 61.4 | 82.2 |
| Suicide mortality rate, per 100,000 people | 5.1 | 14 |
| Mortality caused by road traffic injury, per 100,000 people | 29.7 | 6.6 |
| Intentional homicides, per 100,000 people | 9.1 | 0.9 |
| International tourism, number of arrivals | 552k | 2.3M |
Government debt & reserves
| Stat | Gambia | Iceland |
|---|---|---|
| Central government debt, % of GDP | 83.2% | 35.4% |
| External debt stocks, % of GNI | 42.7% | N/A |
| External debt stocks | $681.4M | N/A |
| Short-term debt, % of total reserves | 9.4% | N/A |
| Total debt service, % of exports and primary income | 16.8% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | -12.7% | 16.6% |
| Gross savings, % of GDP | 8.6% | 21.2% |
| Gross capital formation, % of GDP | 17% | 22.6% |
| Total reserves including gold | $191.8M | $6.3B |
| Foreign direct investment net inflows | $33M | -$434.6M |
Exports, imports and economic structure
| Stat | Gambia | Iceland |
|---|---|---|
| Exports of goods and services, % of GDP | 21.9% | 47.2% |
| Imports of goods and services, % of GDP | 41.5% | 44.1% |
| Current account balance (balance of payments) | -$78.6M | $731.3M |
| Revenue excluding grants, % of GDP | 10.1% | 31% |
| Grants excluding technical cooperation, BoP | $126M | N/A |
| Personal remittances received | $203.6M | $168.9M |
| Industry including construction value added, % of GDP | 15.6% | 19.6% |
| Agriculture, forestry and fishing value added, % of GDP | 19.9% | 4.6% |
| Charges for the use of intellectual property, payments BoP | N/A | $143.4M |
| Charges for the use of intellectual property, receipts BoP | N/A | $241.7M |
| Expense, % of GDP | 10.7% | 30.8% |
| Government Expenditure, % of GDP | 21.9% | 43.2% |
