Skip to content

Economy of Iceland vs South Sudan compared: GDP & Debt

Updated on by Georank

Iceland has a GDP of $38.6B compared to $12B for South Sudan, ranking 105/197 and 151/197 by economy size, respectively.

Iceland has $21.6B in government debt (56.1% of GDP), compared to $6.98B (62.1% of GDP) in South Sudan.

Iceland vs South Sudan GDP by year

Iceland
South Sudan
1x
Year GDP, current $
Iceland South Sudan
2025 $38,582,528,789 -
2024 $33,186,621,855 -
2023 $31,701,996,434 -
2022 $29,176,227,825 -
2021 $26,234,872,402 -
2020 $22,034,665,041 -
2019 $24,985,687,022 -
2018 $26,677,652,544 -
2017 $25,060,086,488 -
2016 $21,083,713,310 -
2015 $17,700,486,957 $11,997,800,760
2014 $18,052,183,515 $13,962,212,847
2013 $16,244,319,959 $18,426,469,017
2012 $14,943,757,823 $11,931,472,169
2011 $15,394,005,872 $14,907,308,933
2010 $13,922,711,577 $14,602,072,411
2009 $13,212,543,838 $12,231,264,525
2008 $18,247,921,360 $14,586,253,383
2007 $21,960,110,030 -
2006 $17,671,649,843 -
2005 $17,146,410,561 -
2004 $13,963,943,244 -
2003 $11,564,687,742 -
2002 $9,416,199,700 -
2001 $8,323,401,820 -
2000 $9,140,168,922 -
1999 $9,107,644,691 -
1998 $8,637,732,542 -
1997 $7,716,781,803 -
1996 $7,686,566,105 -
1995 $7,372,640,169 -
1994 $6,612,804,056 -
1993 $6,435,952,174 -
1992 $7,328,497,599 -
1991 $7,151,260,062 -
1990 $6,694,851,159 -
1989 $5,870,854,233 -
1988 $6,320,093,411 -
1987 $5,713,281,235 -
1986 $4,129,080,094 -
1985 $3,088,359,967 -
1984 $2,964,568,006 -
1983 $2,862,634,164 -
1982 $3,318,714,326 -
1981 $3,615,094,820 -
1980 $3,499,616,683 -
1979 $2,953,176,971 -
1978 $2,599,627,089 -
1977 $2,285,707,749 -
1976 $1,727,845,419 -
1975 $1,456,052,700 -
1974 $1,568,154,077 -
1973 $1,194,794,186 -
1972 $869,002,946 -
1971 $693,679,545 -
1970 $545,115,909 -
1969 $435,659,610 -
1968 $498,365,200 -
1967 $652,609,076 -
1966 $660,663,763 -
1965 $550,150,988 -
1964 $456,206,299 -
1963 $357,240,896 -
1962 $299,309,938 -
1961 $266,711,460 -
1960 $260,984,499 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/iceland/south-sudan | CC BY

GDP per capita in Iceland vs South Sudan by year

Iceland
GDP per capita

GDP per capita, PPP
South Sudan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Iceland South Sudan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $98,323 - - -
2024 $85,863 $84,257 - -
2023 $82,201 $81,608 - -
2022 $76,377 $75,333 - -
2021 $70,425 $61,610 - -
2020 $60,128 $55,797 - -
2019 $69,296 $60,524 - -
2018 $75,634 $57,198 - -
2017 $72,976 $55,638 - -
2016 $62,854 $53,480 - -
2015 $53,506 $49,201 $1,080 $1,155
2014 $55,140 $45,997 $1,243 $1,373
2013 $50,173 $44,410 $1,650 $1,917
2012 $46,595 $42,004 $1,109 $1,417
2011 $48,255 $40,937 $1,449 $2,718
2010 $43,776 $39,764 $1,498 $2,948
2009 $41,484 $41,885 $1,323 $2,911
2008 $57,489 $43,728 $1,654 $2,887
2007 $70,483 $41,471 - -
2006 $58,172 $39,692 - -
2005 $57,784 $37,323 - -
2004 $47,810 $35,612 - -
2003 $39,944 $32,697 - -
2002 $32,749 $32,607 - -
2001 $29,208 $31,882 - -
2000 $32,504 $29,789 - -
1999 $32,834 $29,558 - -
1998 $31,519 $28,723 - -
1997 $28,462 $26,874 - -
1996 $28,584 $24,776 - -
1995 $27,565 $23,954 - -
1994 $24,858 $23,562 - -
1993 $24,404 $22,460 - -
1992 $28,072 $21,877 - -
1991 $27,740 $22,416 - -
1990 $26,272 $21,985 - -
1989 $23,219 - - -
1988 $25,307 - - -
1987 $23,238 - - -
1986 $16,980 - - -
1985 $12,793 - - -
1984 $12,378 - - -
1983 $12,080 - - -
1982 $14,191 - - -
1981 $15,666 - - -
1980 $15,340 - - -
1979 $13,082 - - -
1978 $11,630 - - -
1977 $10,305 - - -
1976 $7,848 - - -
1975 $6,680 - - -
1974 $7,287 - - -
1973 $5,627 - - -
1972 $4,155 - - -
1971 $3,366 - - -
1970 $2,666 - - -
1969 $2,142 - - -
1968 $2,473 - - -
1967 $3,284 - - -
1966 $3,378 - - -
1965 $2,861 - - -
1964 $2,414 - - -
1963 $1,924 - - -
1962 $1,641 - - -
1961 $1,490 - - -
1960 $1,486 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/iceland/south-sudan | CC BY

Iceland's GDP per capita is $98,323, ranking 8/197, compared to $1,080 in South Sudan, ranking 180/197. Adjusted for purchasing power (GDP per capita PPP), Iceland ranks 13th at $84,257, while South Sudan ranks 197th at $1,155.

Economic indicators

Iceland South Sudan
Gross domestic product
$38.6B
2025
$12B
2015
GDP rank
105/197
2025
151/197
2015
GDP growth
1.28%
2024-2025
-10.8%
2014-2015
GDP per capita
$98,323
2025
$1,080
2015
GDP per capita rank
8/197
2025
180/197
2015
GDP per capita, PPP
$84,257
2024
$1,155
2015
GDP per capita PPP rank
13/197
2024
197/197
2015
Government debt
$21.6B
2025
$6.98B
2015
Debt-to-GDP ratio
56.1%
2025
62.1%
2025
Government debt per person
$55,165
2025
$628
2015
Government debt per person rank
9/185
2025
160/185
2015
Average annual personal income after taxes
$54,153
2026
$1,514
2026
Number of billionaires
1
2026
n/a
Income share by richest 10%
22.4%
2019
33%
2016
Income share by poorest 10%
3.7%
2019
1.8%
2016
Government expenditure, % of GDP
45%
2025
18.4%
2025
Consumer prices inflation
4.09%
2024-2025
91.4%
2023-2024
Central bank interest rate
7.75%
2026
13%
2025
Unemployment rate
4.5%
2025
12.3%
2008
Population
398674
12565048

Spending and national debt comparison by year

Iceland
Spending

Debt
South Sudan
Spending

Debt
1x
Year % of GDP
Iceland South Sudan
Government spending Government debt Government spending Government debt
2025 45% 56.1% 18.4% 62.1%
2024 47.1% 60.4% 18.9% 53.4%
2023 45.2% 61.5% 21.3% 62%
2022 46.2% 66.4% 29.5% 42.1%
2021 48.7% 73.6% 44.1% 56.4%
2020 50.4% 76.1% 34.1% 48.3%
2019 43% 65.7% 47.9% 43.4%
2018 43.4% 62.3% 59.2% 84.3%
2017 43.8% 70.8% 42.2% 77.5%
2016 45.8% 81.3% 52% 128.9%
2015 43% 96.3% 33.7% 58.2%
2014 45.3% 114.1% 37.6% 39.6%
2013 45.6% 121.1% 25.3% 17.6%
2012 47.2% 132.2% 31.6% 8.91%
2011 50% 136.6% 20.8% 0%
2010 48.2% 131.5% - -
2009 53.4% 128.2% - -
2008 62.8% 109.3% - -
2007 44.2% 67.4% - -
2006 44.3% 69.8% - -
2005 44.2% 67.8% - -
2004 46.2% 80.1% - -
2003 47.3% 84.1% - -
2002 45% 81.3% - -
2001 47% 82.5% - -
2000 44.3% 74.8% - -
1999 44.8% 75.5% - -
1998 40.3% 43.3% - -
1997 41.4% 51.1% - -
1996 42.5% 53.7% - -
1995 43% 56.1% - -
1994 43.6% 53% - -
1993 43.7% 50.6% - -
1992 43.3% 43.9% - -
1991 41.6% 36.4% - -
1990 41.4% 34.4% - -
1989 42.9% 35.3% - -
1988 41.4% 30.6% - -
1987 36.5% 27.3% - -
1986 39.5% 29.9% - -
1985 37% 32% - -
1984 34.7% 32.4% - -
1983 37.8% 30.8% - -
1982 36% 28.9% - -
1981 35.3% 22.4% - -
1980 33.9% 24.8% - -
1979 32.4% 21.1% - -
1978 31.9% 19.8% - -
1977 31.7% 18.4% - -
1976 32.1% 17.2% - -
1975 36.9% 16.4% - -
1974 36.6% 12.5% - -
1973 33.7% 11.5% - -
1972 33.3% 14.5% - -
1971 32.5% 11.7% - -
1970 29.9% 11.4% - -
1969 30.3% 14.6% - -
1968 33.3% 14.2% - -
1967 31.6% 8.8% - -
1966 28.3% 5.56% - -
1965 28.3% 7.78% - -
1964 28.2% 7.97% - -
1963 26.2% 7.89% - -
1962 24.9% 7.47% - -
1961 25.3% 8.49% - -
1960 33.2% 13.6% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-07-08).

GeoRank.org/economy/iceland/south-sudan | CC BY

In 2025, Iceland's government spending was $17.4B, accounting for 45% of its GDP, while South Sudan spent $4.04B, or 18.4% of GDP.

Debt-to-GDP ratio is 56.1% in Iceland and 62.1% in South Sudan, ranking 86/185 and 71/185, respectively.

Government deficit by year

Deficit/surplus
Iceland

South Sudan
1x
Year Deficit/surplus, % of GDP
Iceland South Sudan
2025 -2.77% 3.45%
2024 -3.71% 11.5%
2023 -2.32% 9.12%
2022 -3.82% 4.43%
2021 -7.96% -9.3%
2020 -8.81% -5.5%
2019 -1.45% 0.04%
2018 1.04% -1.15%
2017 1.28% 4.16%
2016 12.7% -15.5%
2015 -0.14% -16.3%
2014 0.59% -9.53%
2013 -0.88% -3.45%
2012 -2.59% -14.8%
2011 -6.42% 4.57%
2010 -6.56% -
2009 -8.5% -
2008 -12% -
2007 5.57% -
2006 6.42% -
2005 4.96% -
2004 0.33% -
2003 -2.25% -
2002 -2.21% -
2001 -0.27% -
2000 1.43% -
1999 1.3% -
1998 -0.55% -
1997 0.05% -
1996 -1.46% -
1995 -2.77% -
1994 -4.44% -
1993 -4.21% -
1992 -1.8% -
1991 -0.63% -
1990 -3.06% -
1989 -4.29% -
1988 -1.93% -
1987 -0.79% -
1986 -3.93% -
1985 -1.56% -
1984 2.25% -
1983 -1.96% -
1982 1.72% -
1981 1.32% -
1980 1.37% -
1979 -0.07% -
1978 -0.9% -
1977 -1.2% -
1976 0.02% -
1975 -3.87% -
1974 -3.64% -
1973 -0.74% -
1972 0.05% -
1971 -0.69% -
1970 0.27% -
1969 -0.88% -
1968 -0.89% -
1967 0.78% -
1966 1.69% -
1965 0.15% -
1964 -0.41% -
1963 1.8% -
1962 2.25% -
1961 1.64% -
1960 2.38% -
1959 2.44% -
1958 2.16% -
1957 1.2% -
1956 -0.09% -
1955 1.57% -
1954 1.25% -
1953 0.34% -
1952 3.33% -
1951 2.73% -
1950 1.23% -
1949 -0.3% -
1948 0.67% -
1947 -1.95% -
1946 -0.37% -
1945 -2.33% -
1944 -3.23% -
1943 -0.89% -
1942 -0.75% -
1941 -1.33% -
1940 -1.35% -
1939 -2.6% -
1938 -2.01% -
1937 -2.6% -
1936 -3.34% -
1935 -3.46% -
1934 -4.79% -
1933 -3.42% -
1932 -4.65% -
1931 -4.27% -
1930 -4.94% -
1929 -1.94% -
1928 -1.94% -
1927 -3.45% -
1926 -2.43% -
1925 0.43% -
1924 -1.78% -
1923 -4.99% -
1922 -4.67% -
1921 -6.12% -
1920 -7.45% -
1919 -2.5% -
1918 -7.43% -
1917 -11.3% -
1916 -2.53% -
1915 -2.06% -
1914 -3.21% -
1913 -2.3% -
1912 -2.93% -
1911 -3.06% -
1910 -1.27% -
1909 -2.15% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1909–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/iceland/south-sudan | CC BY

In 2015, Iceland's government deficit, the difference between spending and revenue, was $25.6M, equivalent to 0.14% of GDP. This compares to South Sudan's deficit of $1.95B, or 16.3% of GDP.

Over the past 5 years, Iceland recorded a fiscal deficit in 4 of those years, while South Sudan ran a deficit in 4 years. On average, Iceland posted an annual deficit equal to 1.89% of GDP, compared to deficit of 7.9% of GDP for South Sudan.

Inflation comparison by year

Inflation
Iceland

South Sudan
1x
Year Consumer prices inflation
Iceland South Sudan
2025 4.09% -
2024 5.86% 91.4%
2023 8.74% 2.38%
2022 8.31% -6.69%
2021 4.44% 10.5%
2020 2.85% 29.7%
2019 3.01% 87.2%
2018 2.68% 83.5%
2017 1.76% 187.9%
2016 1.7% 380%
2015 1.63% 52.8%
2014 2.04% 1.67%
2013 3.87% -0.06%
2012 5.19% 45.5%
2011 4% 46.9%
2010 5.4% 1.17%
2009 12% 5.01%
2008 12.7% -
2007 5.05% -
2006 6.69% -
2005 3.99% -
2004 3.16% -
2003 2.06% -
2002 5.2% -
2001 6.41% -
2000 5.14% -
1999 3.23% -
1998 1.66% -
1997 1.82% -

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/iceland/south-sudan | CC BY

Over the past 16 years, Iceland has recorded an average annual inflation rate of 4.59%, compared with 63.7% in South Sudan. In 2024, inflation was 4.09% in Iceland and 91.4% in South Sudan.

Balance of trade

Iceland South Sudan
Current account balance
-$1.34B
2025
$578M
2023
Current account balance ranking
127/190
2025
56/190
2023
Current account balance, % of GDP
-3.48%
2025
-4.17%
2015
Goods imports
$10.4B
2025
$2.25B
2023
Goods exports
$7.4B
2025
$4.01B
2023
Service imports
$5.98B
2025
$2.19B
2023
Service exports
$8.16B
2025
$484M
2023
Imports of goods and services, % of GDP
42.4%
2025
28.9%
2015
Exports of goods and services, % of GDP
40.1%
2025
36.7%
2015

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Iceland South Sudan
Economic freedom 75 41
Economic freedom ranking 19/197 186/197
Property rights 94.9 n/a
Government integrity 85 n/a
Judicial effectiveness 95.2 n/a
Tax burden 72.2 n/a
Government spending 37 n/a
Fiscal health 76.2 n/a
Business freedom 86.8 n/a
Labor freedom 59.3 n/a
Monetary freedom 73.5 n/a
Trade freedom 79.8 n/a
Investment freedom 70 n/a
Financial freedom 70 n/a

Other economic metrics

Iceland South Sudan
Services, % of GDP
66.2%
2025
56.6%
2015
Industry, % of GDP
20.1%
2025
33.1%
2015
Agriculture, forestry, and fishing, % of GDP
3.65%
2025
10.4%
2015
GNI, Atlas method
$35B
2025
$11.7B
2015
GNI per capita, PPP
$83,250
2025
$1,010
2015
Total reserves including gold
$7.73B
2025
$16M
2024
Total reserves ranking
88/177
2025
177/177
2024
Net foreign direct investment
-$650M
2025
$2.21M
2019
Net inflows of foreign direct investment
$2.83B
2024
$83.4M
2024
Net outflows of foreign direct investment
$300M
2024
$0
2024
Poverty at national poverty lines
8.8%
2017
66%
2020
Gross capital formation, % of GDP
26.6%
2025
5.75%
2015

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/iceland/south-sudan | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1909–1989, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.