Iceland vs Montenegro: Economic Indicators Comparison
Iceland with a GDP of $25.9B ranked the 108th largest economy in the world, while Montenegro ranked 153rd with $5.5B. By GDP 5-years average growth and GDP per capita, Iceland and Montenegro ranked 47th vs 67th and 8th vs 81st, respectively.
Gross Domestic Product & Income
| Stat |  Iceland |  Montenegro |
|---|---|---|
| GDP | $25.9B | $5.5B |
| GDP growth, 1 year | 4.6% | 4.5% |
| GDP growth, 5-years average | 4.5% | 3.5% |
| Population | 357k | 622k |
| GDP per capita | $73k | $8.8k |
| GDP per capita growth | 1.6% | 5.08% |
| Purchasing Power Parity conversion factor | 138.33 | 0.36 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 1.28 | 0.43 |
| GDP per capita, PPP adjusted | $56k | $19k |
| GNI, Atlas method | $24B | $5.2B |
| GNI per capita | $68k | $8.4k |
| GNI, PPP adjusted | $19.5B | $13B |
| GNI per capita, PPP adjusted | $55k | $21k |
Financial system and Human development
| Stat | Iceland | Montenegro |
|---|---|---|
| Income Tax Rate | 31.8% | 9% |
| Corporate Tax Rate | 20% | 9% |
| Inflation, consumer prices | 2.7% | 2.6% |
| Inflation, GDP deflator | 2.4% | 3.2% |
| Unemployment | 2.9% | 15.5% |
| Economic Freedom Index | 77.1 | 61.5 |
| Personal Freedom Index | 9.27 | 8.12 |
| Human Freedom Index | 8.22 | 7.67 |
| Property Rights Index | 87.6 | 59.1 |
| Judical Effectiveness Index | 63.2 | 55.3 |
| Business Freedom Index | 84.7 | 70.8 |
| Fiscal Health Index | 97.5 | 23.4 |
| Labor Freedom Index | 63.5 | 74.8 |
| Investment Freedom Index | 85 | 75 |
| Financial Freedom Index | 70 | 50 |
| Trade Freedom Index | 86.8 | 83.8 |
| Monetary Freedom Index | 80.3 | 80.3 |
| Government Spending Index | 44.1 | 32.1 |
| Tax Burden Index | 71.7 | 85.4 |
| Government Integrity Index | 90.3 | 47.5 |
| Corruption Perceptions Index | 76 | 45 |
| Life expectancy at birth, years | 82.2 | 76.7 |
| Suicide mortality rate, per 100,000 people | 14 | 10.3 |
| Mortality caused by road traffic injury, per 100,000 people | 6.6 | 10.7 |
| Intentional homicides, per 100,000 people | 0.9 | 2.4 |
| International tourism, number of arrivals | 2.3M | 2.1M |
Government debt & reserves
| Stat | Iceland | Montenegro |
|---|---|---|
| Central government debt, % of GDP | 35.4% | 72.1% |
| External debt stocks, % of GNI | N/A | 144.1% |
| External debt stocks | N/A | $8B |
| Short-term debt, % of total reserves | N/A | 17.2% |
| Total debt service, % of exports and primary income | N/A | 63.7% |
| Adjusted net savings including particulate emission damage, % of GNI | 16.6% | N/A |
| Gross savings, % of GDP | 21.2% | 14.9% |
| Gross capital formation, % of GDP | 22.6% | 31.9% |
| Total reserves including gold | $6.3B | $1.2B |
| Foreign direct investment net inflows | -$434.6M | $485.7M |
Exports, imports and economic structure
| Stat | Iceland | Montenegro |
|---|---|---|
| Exports of goods and services, % of GDP | 47.2% | 42.9% |
| Imports of goods and services, % of GDP | 44.1% | 66.7% |
| Current account balance (balance of payments) | $731.3M | -$943M |
| Revenue excluding grants, % of GDP | 31% | N/A |
| Grants excluding technical cooperation, BoP | N/A | $57.7M |
| Personal remittances received | $168.9M | $588.9M |
| Industry including construction value added, % of GDP | 19.6% | 15.9% |
| Agriculture, forestry and fishing value added, % of GDP | 4.6% | 6.7% |
| Charges for the use of intellectual property, payments BoP | $143.4M | $6M |
| Charges for the use of intellectual property, receipts BoP | $241.7M | $432k |
| Expense, % of GDP | 30.8% | N/A |
| Government Expenditure, % of GDP | 43.2% | 47.6% |
