Ghana vs Iceland: Economic Indicators Comparison
Gross Domestic Product & Income
| Stat |  Ghana |  Iceland |
|---|---|---|
| GDP | $65.6B | $25.9B |
| GDP growth, 1 year | 5.6% | 4.6% |
| GDP growth, 5-years average | 4.5% | 4.5% |
| Population | 26.9M | 357k |
| GDP per capita | $2.2k | $73k |
| GDP per capita growth | 3.96% | 1.6% |
| Purchasing Power Parity conversion factor | 2.13 | 138.33 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.46 | 1.28 |
| 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
| Stat | Ghana | Iceland |
|---|---|---|
| Income Tax Rate | 35% | 31.8% |
| Corporate Tax Rate | 25% | 20% |
| Inflation, consumer prices | 9.8% | 2.7% |
| Inflation, GDP deflator | 10.2% | 2.4% |
| Unemployment | 6.7% | 2.9% |
| Economic Freedom Index | 59.4 | 77.1 |
| Personal Freedom Index | 7.64 | 9.27 |
| Human Freedom Index | 7.21 | 8.22 |
| Property Rights Index | 52.5 | 87.6 |
| Judical Effectiveness Index | 46.1 | 63.2 |
| Business Freedom Index | 58.4 | 84.7 |
| Fiscal Health Index | 35.6 | 97.5 |
| Labor Freedom Index | 59.3 | 63.5 |
| Investment Freedom Index | 70 | 85 |
| Financial Freedom Index | 60 | 70 |
| Trade Freedom Index | 63.8 | 86.8 |
| Monetary Freedom Index | 68.9 | 80.3 |
| Government Spending Index | 88.1 | 44.1 |
| Tax Burden Index | 78.4 | 71.7 |
| Government Integrity Index | 32.2 | 90.3 |
| Corruption Perceptions Index | 41 | 76 |
| Life expectancy at birth, years | 63.5 | 82.2 |
| Suicide mortality rate, per 100,000 people | 5.4 | 14 |
| Mortality caused by road traffic injury, per 100,000 people | 24.9 | 6.6 |
| Intentional homicides, per 100,000 people | 2.1 | 0.9 |
| International tourism, number of arrivals | 897k | 2.3M |
Government debt & reserves
| Stat | Ghana | Iceland |
|---|---|---|
| Central government debt, % of GDP | 59.6% | 35.4% |
| External debt stocks, % of GNI | 36.3% | N/A |
| External debt stocks | $23.3B | N/A |
| Short-term debt, % of total reserves | 57.7% | N/A |
| Total debt service, % of exports and primary income | 9.4% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | -8.4% | 16.6% |
| Gross savings, % of GDP | 21% | 21.2% |
| Gross capital formation, % of GDP | 14.9% | 22.6% |
| Total reserves including gold | $6.3B | $6.3B |
| Foreign direct investment net inflows | $3B | -$434.6M |
Exports, imports and economic structure
| Stat | Ghana | Iceland |
|---|---|---|
| Exports of goods and services, % of GDP | 35.3% | 47.2% |
| Imports of goods and services, % of GDP | 36.4% | 44.1% |
| Current account balance (balance of payments) | -$2B | $731.3M |
| Revenue excluding grants, % of GDP | 27.2% | 31% |
| Grants excluding technical cooperation, BoP | $713.6M | N/A |
| Personal remittances received | $3.5B | $168.9M |
| Industry including construction value added, % of GDP | 31.5% | 19.6% |
| Agriculture, forestry and fishing value added, % of GDP | 18.3% | 4.6% |
| Charges for the use of intellectual property, payments BoP | $700k | $143.4M |
| Charges for the use of intellectual property, receipts BoP | N/A | $241.7M |
| Expense, % of GDP | 30.5% | 30.8% |
| Government Expenditure, % of GDP | 20% | 43.2% |
