Grenada vs Iceland: Economic Indicators Comparison

Iceland with a GDP of $25.9B ranked the 108th largest economy in the world, while Grenada ranked 183rd with $1.2B. By GDP per capita, Iceland and Grenada ranked 8th vs 70th, respectively.

Gross Domestic Product & Income

StatGrenadaIceland
GDP$1.2B$25.9B
GDP growth, 1 year4.18%4.6%
GDP growth, 5-years averageN/A4.5%
Population108k357k
GDP per capita$11k$73k
GDP per capita growth3.64%1.6%
Purchasing Power Parity conversion factor1.85138.33
Price level ratio of PPP conversion factor GDP to market exchange rate0.681.28
GDP per capita, PPP adjusted$16k$56k
GNI, Atlas method$1.1B$24B
GNI per capita$9.7k$68k
GNI, PPP adjusted$1.6B$19.5B
GNI per capita, PPP adjusted$14k$55k

Financial system and Human development

StatGrenadaIceland
Income Tax RateN/A31.8%
Corporate Tax RateN/A20%
Inflation, consumer prices0.8%2.7%
Inflation, GDP deflator1%2.4%
Unemployment22.9%2.9%
Economic Freedom Index6377.1
Personal Freedom Index69.27
Human Freedom Index68.22
Property Rights IndexN/A87.6
Judical Effectiveness IndexN/A63.2
Business Freedom IndexN/A84.7
Fiscal Health IndexN/A97.5
Labor Freedom IndexN/A63.5
Investment Freedom IndexN/A85
Financial Freedom IndexN/A70
Trade Freedom IndexN/A86.8
Monetary Freedom IndexN/A80.3
Government Spending IndexN/A44.1
Tax Burden IndexN/A71.7
Government Integrity IndexN/A90.3
Corruption Perceptions Index5276
Life expectancy at birth, years72.482.2
Suicide mortality rate, per 100,000 people1.714
Mortality caused by road traffic injury, per 100,000 people9.36.6
Intentional homicides, per 100,000 people11.10.9
International tourism, number of arrivals185k2.3M

Government debt & reserves

StatGrenadaIceland
Central government debt, % of GDPN/A35.4%
External debt stocks, % of GNI58.8%N/A
External debt stocks$644.9MN/A
Short-term debt, % of total reserves50.4%N/A
Total debt service, % of exports and primary income8.4%N/A
Adjusted net savings including particulate emission damage, % of GNIN/A16.6%
Gross savings, % of GDPN/A21.2%
Gross capital formation, % of GDPN/A22.6%
Total reserves including gold$233.8M$6.3B
Foreign direct investment net inflows$153.7M-$434.6M

Exports, imports and economic structure

StatGrenadaIceland
Exports of goods and services, % of GDP54.2%47.2%
Imports of goods and services, % of GDP55.2%44.1%
Current account balance (balance of payments)-$116.3M$731.3M
Revenue excluding grants, % of GDPN/A31%
Grants excluding technical cooperation, BoP$250kN/A
Personal remittances received$48.5M$168.9M
Industry including construction value added, % of GDP13.3%19.6%
Agriculture, forestry and fishing value added, % of GDP5.2%4.6%
Charges for the use of intellectual property, payments BoP$9.3M$143.4M
Charges for the use of intellectual property, receipts BoP$56k$241.7M
Expense, % of GDPN/A30.8%
Government Expenditure, % of GDPN/A43.2%

Compare with countries close by GDP per capita

Grenada vs

CountryGDP
per capita
Population
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Saint Lucia
$11k
179k
Maldives
$10k
436k
Equatorial Guinea
$10k
1.27M
Nauru
$9.9k
13.7k
Kazakhstan
$9.8k
18.3M
China
$9.8k
1.41B
Mexico
$9.7k
131M
Turkey
$9.4k
82M
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

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