Ghana vs Iceland: Economic Indicators Comparison

Ghana with a GDP of $65.6B ranked the 73rd largest economy in the world, while Iceland ranked 108th with $25.9B. By GDP 5-years average growth and GDP per capita, Ghana and Iceland ranked 46th vs 47th and 142nd vs 8th, respectively.

Gross Domestic Product & Income

StatGhanaIceland
GDP$65.6B$25.9B
GDP growth, 1 year5.6%4.6%
GDP growth, 5-years average4.5%4.5%
Population26.9M357k
GDP per capita$2.2k$73k
GDP per capita growth3.96%1.6%
Purchasing Power Parity conversion factor2.13138.33
Price level ratio of PPP conversion factor GDP to market exchange rate0.461.28
GDP per capita, PPP adjusted$6.5k$56k
GNI, Atlas method$63.4B$24B
GNI per capita$2.1k$68k
GNI, PPP adjusted$138.5B$19.5B
GNI per capita, PPP adjusted$4.7k$55k

Financial system and Human development

StatGhanaIceland
Income Tax Rate35%31.8%
Corporate Tax Rate25%20%
Inflation, consumer prices9.8%2.7%
Inflation, GDP deflator10.2%2.4%
Unemployment6.7%2.9%
Economic Freedom Index59.477.1
Personal Freedom Index7.649.27
Human Freedom Index7.218.22
Property Rights Index52.587.6
Judical Effectiveness Index46.163.2
Business Freedom Index58.484.7
Fiscal Health Index35.697.5
Labor Freedom Index59.363.5
Investment Freedom Index7085
Financial Freedom Index6070
Trade Freedom Index63.886.8
Monetary Freedom Index68.980.3
Government Spending Index88.144.1
Tax Burden Index78.471.7
Government Integrity Index32.290.3
Corruption Perceptions Index4176
Life expectancy at birth, years63.582.2
Suicide mortality rate, per 100,000 people5.414
Mortality caused by road traffic injury, per 100,000 people24.96.6
Intentional homicides, per 100,000 people2.10.9
International tourism, number of arrivals897k2.3M

Government debt & reserves

StatGhanaIceland
Central government debt, % of GDP59.6%35.4%
External debt stocks, % of GNI36.3%N/A
External debt stocks$23.3BN/A
Short-term debt, % of total reserves57.7%N/A
Total debt service, % of exports and primary income9.4%N/A
Adjusted net savings including particulate emission damage, % of GNI-8.4%16.6%
Gross savings, % of GDP21%21.2%
Gross capital formation, % of GDP14.9%22.6%
Total reserves including gold$6.3B$6.3B
Foreign direct investment net inflows$3B-$434.6M

Exports, imports and economic structure

StatGhanaIceland
Exports of goods and services, % of GDP35.3%47.2%
Imports of goods and services, % of GDP36.4%44.1%
Current account balance (balance of payments)-$2B$731.3M
Revenue excluding grants, % of GDP27.2%31%
Grants excluding technical cooperation, BoP$713.6MN/A
Personal remittances received$3.5B$168.9M
Industry including construction value added, % of GDP31.5%19.6%
Agriculture, forestry and fishing value added, % of GDP18.3%4.6%
Charges for the use of intellectual property, payments BoP$700k$143.4M
Charges for the use of intellectual property, receipts BoPN/A$241.7M
Expense, % of GDP30.5%30.8%
Government Expenditure, % of GDP20%43.2%

Compare with countries close by GDP per capita

Ghana vs

CountryGDP
per capita
Population
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M
Honduras
$2.5k
9.27M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
16.5M
Solomon Islands
$2.1k
611k
East Timor
$2k
1.3M
Syria
$2k
18.3M
Nicaragua
$2k
6.22M
Nigeria
$2k
191M
India
$2k
1.33B
Sao Tome and Principe
$2k
204k
Ivory Coast
$1.7k
24.3M
Kenya
$1.7k
48.5M
North Korea
$1.7k
25.5M
Bangladesh
$1.7k
165M
Kiribati
$1.6k
116k
Zambia
$1.5k
17.1M

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