Iceland vs the Solomon Islands: Economic Indicators Comparison

Iceland with a GDP of $25.9B ranked the 108th largest economy in the world, while the Solomon Islands ranked 182nd with $1.4B. By GDP 5-years average growth and GDP per capita, Iceland and the Solomon Islands ranked 47th vs 90th and 8th vs 145th, respectively.

Gross Domestic Product & Income

StatIcelandSolomon Islands
GDP$25.9B$1.4B
GDP growth, 1 year4.6%3.4%
GDP growth, 5-years average4.5%3%
Population357k611k
GDP per capita$73k$2.1k
GDP per capita growth1.6%1.18%
Purchasing Power Parity conversion factor138.337.02
Price level ratio of PPP conversion factor GDP to market exchange rate1.280.88
GDP per capita, PPP adjusted$56k$2.2k
GNI, Atlas method$24B$1.3B
GNI per capita$68k$2k
GNI, PPP adjusted$19.5B$1.5B
GNI per capita, PPP adjusted$55k$2.3k

Financial system and Human development

StatIcelandSolomon Islands
Income Tax Rate31.8%40%
Corporate Tax Rate20%30%
Inflation, consumer prices2.7%1%
Inflation, GDP deflator2.4%3.5%
Unemployment2.9%1.8%
Economic Freedom Index77.152.9
Personal Freedom Index9.276.1
Human Freedom Index8.226.1
Property Rights Index87.654.6
Judical Effectiveness Index63.253.7
Business Freedom Index84.767.7
Fiscal Health Index97.576.6
Labor Freedom Index63.572
Investment Freedom Index8515
Financial Freedom Index7030
Trade Freedom Index86.848
Monetary Freedom Index80.384.3
Government Spending Index44.134.2
Tax Burden Index71.765.6
Government Integrity Index90.333.5
Corruption Perceptions Index7644
Life expectancy at birth, years82.272.6
Suicide mortality rate, per 100,000 people144.7
Mortality caused by road traffic injury, per 100,000 people6.617.4
Intentional homicides, per 100,000 people0.93.8
International tourism, number of arrivals2.3M28k

Government debt & reserves

StatIcelandSolomon Islands
Central government debt, % of GDP35.4%12.1%
External debt stocks, % of GNIN/A29.1%
External debt stocksN/A$388.5M
Short-term debt, % of total reservesN/A7%
Total debt service, % of exports and primary incomeN/A5.6%
Adjusted net savings including particulate emission damage, % of GNI16.6%-13.3%
Gross savings, % of GDP21.2%3.2%
Gross capital formation, % of GDP22.6%14.6%
Total reserves including gold$6.3B$617.1M
Foreign direct investment net inflows-$434.6M$12.1M

Exports, imports and economic structure

StatIcelandSolomon Islands
Exports of goods and services, % of GDP47.2%45.1%
Imports of goods and services, % of GDP44.1%53.3%
Current account balance (balance of payments)$731.3M-$50.6M
Revenue excluding grants, % of GDP31%33.8%
Grants excluding technical cooperation, BoPN/A$153.5M
Personal remittances received$168.9M$19.3M
Industry including construction value added, % of GDP19.6%N/A
Agriculture, forestry and fishing value added, % of GDP4.6%35%
Charges for the use of intellectual property, payments BoP$143.4M$4.4M
Charges for the use of intellectual property, receipts BoP$241.7M$599k
Expense, % of GDP30.8%31.9%
Government Expenditure, % of GDP43.2%46.8%

Compare with countries close by GDP per capita

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

Solomon Islands vs

CountryGDP
per capita
Population
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M
Honduras
$2.5k
9.27M
Ghana
$2.2k
26.9M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
16.5M
East Timor
$2k
1.3M
Syria
$2k
18.3M
Nicaragua
$2k
6.22M
Nigeria
$2k
191M
India
$2k
1.33B
Sao Tome and Principe
$2k
204k
Ivory Coast
$1.7k
24.3M
Kenya
$1.7k
48.5M
North Korea
$1.7k
25.5M
Bangladesh
$1.7k
165M
Kiribati
$1.6k
116k
Zambia
$1.5k
17.1M
Cameroon
$1.5k
24.1M
Uzbekistan
$1.5k
32.4M
Senegal
$1.5k
15.9M