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Iceland vs Mexico: Economic Indicators Comparison

Mexico with a GDP of $1.2T ranked the 15th largest economy in the world, while Iceland ranked 108th with $25.9B. By GDP 5-years average growth and GDP per capita, Mexico and Iceland ranked 109th vs 47th and 77th vs 8th, respectively.

Gross Domestic Product & Income

StatIcelandMexico
GDP$25.9B$1.2T
GDP growth, 1 year4.6%2%
GDP growth, 5-years average4.5%2.6%
Population357k130.5M
GDP per capita$73k$9.7k
GDP per capita growth1.6%0.99%
Purchasing Power Parity conversion factor138.339.38
Price level ratio of PPP conversion factor GDP to market exchange rate1.280.49
GDP per capita, PPP adjusted$56k$21k
GNI, Atlas method$24B$1.2T
GNI per capita$68k$9.2k
GNI, PPP adjusted$19.5B$2.4T
GNI per capita, PPP adjusted$55k$19k

Financial system and Human development

StatIcelandMexico
Income Tax Rate31.8%35%
Corporate Tax Rate20%30%
Inflation, consumer prices2.7%4.9%
Inflation, GDP deflator2.4%5%
Unemployment2.9%3.3%
Economic Freedom Index77.166
Personal Freedom Index9.277.23
Human Freedom Index8.226.94
Property Rights Index87.658.3
Judical Effectiveness Index63.234.7
Business Freedom Index84.767
Fiscal Health Index97.587.5
Labor Freedom Index63.558.4
Investment Freedom Index8575
Financial Freedom Index7060
Trade Freedom Index86.887.6
Monetary Freedom Index80.370.9
Government Spending Index44.179.3
Tax Burden Index71.776.1
Government Integrity Index90.336.7
Corruption Perceptions Index7628
Life expectancy at birth, years82.274.9
Suicide mortality rate, per 100,000 people145.1
Mortality caused by road traffic injury, per 100,000 people6.613.1
Intentional homicides, per 100,000 people0.924.8
International tourism, number of arrivals2.3M41.3M

Government debt & reserves

StatIcelandMexico
Central government debt, % of GDP35.4%53.6%
External debt stocks, % of GNIN/A38%
External debt stocksN/A$453B
Short-term debt, % of total reservesN/A34.6%
Total debt service, % of exports and primary incomeN/A11.9%
Adjusted net savings including particulate emission damage, % of GNI16.6%7.5%
Gross savings, % of GDP21.2%23.7%
Gross capital formation, % of GDP22.6%22.7%
Total reserves including gold$6.3B$176.4B
Foreign direct investment net inflows-$434.6M$37.5B

Exports, imports and economic structure

StatIcelandMexico
Exports of goods and services, % of GDP47.2%39.3%
Imports of goods and services, % of GDP44.1%41.2%
Current account balance (balance of payments)$731.3M-$22B
Revenue excluding grants, % of GDP31%18.9%
Grants excluding technical cooperation, BoPN/A$318.9M
Personal remittances received$168.9M$35.8B
Industry including construction value added, % of GDP19.6%30.9%
Agriculture, forestry and fishing value added, % of GDP4.6%3.4%
Charges for the use of intellectual property, payments BoP$143.4M$302M
Charges for the use of intellectual property, receipts BoP$241.7M$7M
Expense, % of GDP30.8%20.4%
Government Expenditure, % of GDP43.2%26.3%

Compare with countries close by GDP per capita

Iceland vs

CountryGDP
per capita
Population
Monaco
$186k
37.8k
Liechtenstein
$165k
37.9k
Luxembourg
$117k
614k
Switzerland
$83k
8.21M
Norway
$82k
5.33M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Qatar
$69k
2.17M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
23.4M
Sweden
$55k
10.3M
Netherlands
$53k
17.2M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k

Mexico vs

CountryGDP
per capita
Population
Poland
$15k
38.5M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.87M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
345k
Equatorial Guinea
$10k
1.22M
Nauru
$9.9k
13.7k
Kazakhstan
$9.8k
18M
China
$9.8k
1.41B
Turkey
$9.4k
82M
Bulgaria
$9.3k
7.27M
Brazil
$8.9k
208M
Montenegro
$8.8k
622k
Cuba
$8.8k
11.3M
Lebanon
$8.3k
4.47M
Botswana
$8.3k
2.02M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
1.67M
Dominica
$7.7k
72k
Saint Vincent
$7.4k
109k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
5.66M
Turkmenistan
$7k
5.13M