Iceland vs the United States: Economic Indicators Comparison

The United States with a GDP of $20.5T ranked the 1st largest economy in the world, while Iceland ranked 108th with $25.9B. By GDP 5-years average growth and GDP per capita, the United States and Iceland ranked 113th vs 47th and 11th vs 8th, respectively.

Gross Domestic Product & Income

StatIcelandUnited States
GDP$25.9B$20.5T
GDP growth, 1 year4.6%2.9%
GDP growth, 5-years average4.5%2.4%
Population357k325.1M
GDP per capita$73k$63k
GDP per capita growth1.6%2.29%
Purchasing Power Parity conversion factor138.331
Price level ratio of PPP conversion factor GDP to market exchange rate1.281
GDP per capita, PPP adjusted$56k$63k
GNI, Atlas method$24B$20.6T
GNI per capita$68k$63k
GNI, PPP adjusted$19.5B$20.8T
GNI per capita, PPP adjusted$55k$64k

Financial system and Human development

StatIcelandUnited States
Income Tax Rate31.8%37%
Corporate Tax Rate20%21%
Inflation, consumer prices2.7%2.4%
Inflation, GDP deflator2.4%2.4%
Unemployment2.9%3.9%
Economic Freedom Index77.176.6
Personal Freedom Index9.278.55
Human Freedom Index8.228.39
Property Rights Index87.681.8
Judical Effectiveness Index63.283.7
Business Freedom Index84.783.3
Fiscal Health Index97.554.3
Labor Freedom Index63.587.9
Investment Freedom Index8585
Financial Freedom Index7080
Trade Freedom Index86.879.8
Monetary Freedom Index80.375.5
Government Spending Index44.156.5
Tax Burden Index71.774.6
Government Integrity Index90.377.2
Corruption Perceptions Index7671
Life expectancy at birth, years82.278.5
Suicide mortality rate, per 100,000 people1415.3
Mortality caused by road traffic injury, per 100,000 people6.612.4
Intentional homicides, per 100,000 people0.95.3
International tourism, number of arrivals2.3M79.7M

Government debt & reserves

StatIcelandUnited States
Central government debt, % of GDP35.4%105.8%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI16.6%6.1%
Gross savings, % of GDP21.2%18.6%
Gross capital formation, % of GDP22.6%21%
Total reserves including gold$6.3B$449.9B
Foreign direct investment net inflows-$434.6M$258.4B

Exports, imports and economic structure

StatIcelandUnited States
Exports of goods and services, % of GDP47.2%12.2%
Imports of goods and services, % of GDP44.1%15.3%
Current account balance (balance of payments)$731.3M-$491B
Revenue excluding grants, % of GDP31%17.2%
Grants excluding technical cooperation, BoPN/AN/A
Personal remittances received$168.9M$6.7B
Industry including construction value added, % of GDP19.6%18.2%
Agriculture, forestry and fishing value added, % of GDP4.6%0.9%
Charges for the use of intellectual property, payments BoP$143.4M$56.1B
Charges for the use of intellectual property, receipts BoP$241.7M$128.7B
Expense, % of GDP30.8%22.4%
Government Expenditure, % of GDP43.2%38.1%

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
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
Brunei
$32k
429k

United States 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
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
Brunei
$32k
429k