Iceland vs the Marshall Islands: Economic Indicators Comparison

Iceland with a GDP of $25.9B ranked the 108th largest economy in the world, while the Marshall Islands ranked 193rd with $221.3M. By GDP per capita, Iceland and the Marshall Islands ranked 8th vs 123rd, respectively.

Gross Domestic Product & Income

Stat	Iceland	Marshall Islands
GDP	$25.9B	$221.3M
GDP growth, 1 year	4.6%	3.62%
GDP growth, 5-years average	4.5%	N/A
Population	357k	53k
GDP per capita	$73k	$3.8k
GDP per capita growth	1.6%	2.99%
Purchasing Power Parity conversion factor	138.33	0.95
Price level ratio of PPP conversion factor GDP to market exchange rate	1.28	0.95
GDP per capita, PPP adjusted	$56k	$4k
GNI, Atlas method	$24B	$283.7M
GNI per capita	$68k	$4.9k
GNI, PPP adjusted	$19.5B	$297.6M
GNI per capita, PPP adjusted	$55k	$5.1k

Financial system and Human development

Stat	Iceland	Marshall Islands
Income Tax Rate	31.8%	N/A
Corporate Tax Rate	20%	N/A
Inflation, consumer prices	2.7%	N/A
Inflation, GDP deflator	2.4%	0.3%
Unemployment	2.9%	4.7%
Economic Freedom Index	77.1	58
Personal Freedom Index	9.27	6.2
Human Freedom Index	8.22	6.2
Property Rights Index	87.6	N/A
Judical Effectiveness Index	63.2	N/A
Business Freedom Index	84.7	N/A
Fiscal Health Index	97.5	N/A
Labor Freedom Index	63.5	N/A
Investment Freedom Index	85	N/A
Financial Freedom Index	70	N/A
Trade Freedom Index	86.8	N/A
Monetary Freedom Index	80.3	N/A
Government Spending Index	44.1	N/A
Tax Burden Index	71.7	N/A
Government Integrity Index	90.3	N/A
Corruption Perceptions Index	76	64
Life expectancy at birth, years	82.2	65.2
Suicide mortality rate, per 100,000 people	14	1
Mortality caused by road traffic injury, per 100,000 people	6.6	5.7
Intentional homicides, per 100,000 people	0.9	4
International tourism, number of arrivals	2.3M	6.8k

Government debt & reserves

Stat	Iceland	Marshall Islands
Central government debt, % of GDP	35.4%	48.9%
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	16.6%	N/A
Gross savings, % of GDP	21.2%	17.2%
Gross capital formation, % of GDP	22.6%	23.4%
Total reserves including gold	$6.3B	N/A
Foreign direct investment net inflows	-$434.6M	$9.8M

Exports, imports and economic structure

Stat	Iceland	Marshall Islands
Exports of goods and services, % of GDP	47.2%	40.4%
Imports of goods and services, % of GDP	44.1%	85.3%
Current account balance (balance of payments)	$731.3M	$53M
Revenue excluding grants, % of GDP	31%	32.2%
Grants excluding technical cooperation, BoP	N/A	$50.6M
Personal remittances received	$168.9M	$31.5M
Industry including construction value added, % of GDP	19.6%	12.8%
Agriculture, forestry and fishing value added, % of GDP	4.6%	15.2%
Charges for the use of intellectual property, payments BoP	$143.4M	N/A
Charges for the use of intellectual property, receipts BoP	$241.7M	N/A
Expense, % of GDP	30.8%	57.9%
Government Expenditure, % of GDP	43.2%	N/A