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Iceland vs Panama statistics compared

Updated on by Georank team

Iceland has a population of 387K (ranked 173/197), compared with 4.52M in Panama (ranked 128/197). Iceland's land area is 38,931 sq mi versus 28,641 sq mi for Panama (ranked 104th vs. 115th).

By GDP, Iceland ranks 108/197 ($33.3B) and Panama ranks 78/197 ($86.5B). By GDP per capita, Iceland ranks 9/197 ($86,041), while Panama ranks 60/197 ($19,161).

Main facts and rankings

Iceland Panama
Population
397129
4642198
Population rank 173/197 128/197
GDP
$33.3B
2024
$86.5B
2024
GDP rank 108/197 78/197
GDP per capita
$86,041
2024
$19,161
2024
GDP per capita rank 9/197 60/197
GDP per capita, PPP
$84,257
2024
$41,369
2024
Government debt
$19.8B
2024
$49.6B
2024
Debt-to-GDP ratio
59.4%
2024
57.4%
2024
Government debt per person
$51,148
2024
$10,995
2024
Government debt per person rank 9/185 51/185
Average annual personal income after taxes
$55,565
2026
$10,196
2026
Land area 38,931 sq mi 28,641 sq mi
Population density
10.2 ppl/mi²
2026
161.6 ppl/mi²
2026
Fertility rate
1.59
2023
2.12
2023
Median age
37.1 years
2024
30.9 years
2024
Life expectancy
83.3 years
2026
80.1 years
2026

Iceland and Panama: Comparison Charts

Iceland and Panama economies compared

GDP
Iceland

Panama
1x
Year GDP
Iceland Panama
2024 $33,255,181,469 $86,523,959,132
2023 $31,677,891,897 $83,812,155,244
2022 $29,166,102,877 $76,479,304,471
2021 $26,234,872,402 $67,396,392,506
2020 $22,034,665,041 $57,059,846,522
2019 $24,985,687,022 $69,778,991,193
2018 $26,677,652,544 $67,316,471,181
2017 $25,060,086,488 $64,327,688,826
2016 $21,083,713,310 $59,760,858,718
2015 $17,700,486,957 $55,767,806,073
2014 $18,052,183,515 $51,427,104,882
2013 $16,244,319,959 $46,949,496,479
2012 $14,943,757,823 $41,595,439,721
2011 $15,394,005,872 $35,687,738,252
2010 $13,922,711,577 $30,231,009,533
2009 $13,212,543,838 $27,791,215,547
2008 $18,247,921,360 $25,721,327,955
2007 $21,960,110,030 $21,717,433,808
2006 $17,671,649,843 $18,659,721,513
2005 $17,146,410,561 $16,623,906,739
2004 $13,963,943,244 $15,100,203,362
2003 $11,564,687,742 $13,603,456,003
2002 $9,416,199,700 $12,800,851,271
2001 $8,323,401,820 $12,252,906,341
2000 $9,140,168,922 $11,966,497,049
1999 $9,107,644,691 $11,660,704,777
1998 $8,637,732,542 $11,019,557,689
1997 $7,716,781,803 $10,058,854,386
1996 $7,686,566,105 $9,197,503,323
1995 $7,372,640,169 $9,573,813,700
1994 $6,612,804,056 $9,365,289,800
1993 $6,435,952,174 $8,782,585,400
1992 $7,328,497,599 $8,042,337,700
1991 $7,151,260,062 $7,074,675,500
1990 $6,694,851,159 $6,433,967,000
1989 $5,870,854,233 $5,918,469,800
1988 $6,320,093,411 $5,902,783,400
1987 $5,713,281,235 $6,827,665,300
1986 $4,129,080,094 $6,797,834,200
1985 $3,088,359,967 $6,541,517,100
1984 $2,964,568,006 $6,183,387,100
1983 $2,862,634,164 $5,923,755,900
1982 $3,318,714,326 $5,769,767,900
1981 $3,615,094,820 $5,222,421,500
1980 $3,499,616,683 $4,614,086,400
1979 $2,953,176,971 $3,704,551,600
1978 $2,599,627,089 $3,244,558,600
1977 $2,285,707,749 $2,738,261,900
1976 $1,727,845,419 $2,588,106,000
1975 $1,456,052,700 $2,435,304,100
1974 $1,568,154,077 $2,188,307,600
1973 $1,194,794,186 $1,913,793,400
1972 $869,002,946 $1,673,411,700
1971 $693,679,545 $1,523,917,200
1970 $545,115,909 $1,351,006,400
1969 $435,659,610 $1,221,305,700
1968 $498,365,200 $1,112,791,100
1967 $652,609,076 $1,034,376,400
1966 $660,663,763 $928,833,000
1965 $550,150,988 $852,485,300
1964 $456,206,299 $776,137,500
1963 $357,240,896 $722,784,500
1962 $299,309,938 $652,120,900
1961 $266,711,460 $599,026,300
1960 $260,984,499 $537,147,100

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/facts/iceland/panama | CC BY

Iceland and Panama economies compared

GDP per capita
Iceland

Panama
1x
Year GDP per capita
Iceland Panama
2024 $86,041 $19,161
2023 $82,139 $18,797
2022 $76,350 $17,379
2021 $70,425 $15,510
2020 $60,128 $13,291
2019 $69,296 $16,478
2018 $75,634 $16,151
2017 $72,976 $15,695
2016 $62,854 $14,832
2015 $53,506 $14,083
2014 $55,140 $13,213
2013 $50,173 $12,273
2012 $46,595 $11,065
2011 $48,255 $9,662
2010 $43,776 $8,331
2009 $41,484 $7,797
2008 $57,489 $7,348
2007 $70,483 $6,318
2006 $58,172 $5,529
2005 $57,784 $5,018
2004 $47,810 $4,645
2003 $39,944 $4,265
2002 $32,749 $4,091
2001 $29,208 $3,992
2000 $32,504 $3,975
1999 $32,834 $3,950
1998 $31,519 $3,808
1997 $28,462 $3,546
1996 $28,584 $3,308
1995 $27,565 $3,514
1994 $24,858 $3,508
1993 $24,404 $3,358
1992 $28,072 $3,140
1991 $27,740 $2,821
1990 $26,272 $2,620
1989 $23,219 $2,462
1988 $25,307 $2,509
1987 $23,238 $2,966
1986 $16,980 $3,019
1985 $12,793 $2,972
1984 $12,378 $2,875
1983 $12,080 $2,819
1982 $14,191 $2,811
1981 $15,666 $2,605
1980 $15,340 $2,357
1979 $13,082 $1,938
1978 $11,630 $1,738
1977 $10,305 $1,503
1976 $7,848 $1,457
1975 $6,680 $1,406
1974 $7,287 $1,296
1973 $5,627 $1,164
1972 $4,155 $1,046
1971 $3,366 $979
1970 $2,666 $893
1969 $2,142 $830
1968 $2,473 $778
1967 $3,284 $745
1966 $3,378 $689
1965 $2,861 $651
1964 $2,414 $611
1963 $1,924 $587
1962 $1,641 $546
1961 $1,490 $516
1960 $1,486 $477

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/facts/iceland/panama | CC BY

Iceland vs. Panama life expectancy calculator

Life expectancy
Iceland

Panama
1x
Year Life expectancy, years
Iceland Panama
2026 83.3 80.1
2025 83.2 80
2024 83 79.8
2023 82.7 79.6
2022 81.6 79.3
2021 82.8 77
2020 82.7 76.3
2019 82.8 78.5
2018 82.5 78.3
2017 82.2 77.9
2016 81.8 77.8
2015 82.2 77.6
2014 82.4 77.4
2013 81.7 77.1
2012 82.3 76.9
2011 82 76.7
2010 81.6 76.4
2009 81.4 76.2
2008 81.2 75.9
2007 81.1 75.7
2006 80.9 75.4
2005 81.2 75.2
2004 80.7 74.8
2003 80.8 74.6
2002 80.3 74.2
2001 80.4 73.8
2000 79.5 73.4
1999 79.2 73.1
1998 79.4 72.8
1997 78.7 72.5
1996 78.6 72.2
1995 77.5 72
1994 79 71.9
1993 78.8 71.8
1992 78.6 71.5
1991 77.8 71.3
1990 77.7 71.3
1989 77.9 70.1
1988 76.9 70.9
1987 77.1 70.8
1986 77.9 70.7
1985 77.4 70.5
1984 77.3 70.4
1983 76.4 70.1
1982 76.8 69.9
1981 76.2 69.8
1980 76.6 69.5
1979 76.5 69.1
1978 76.4 68.7
1977 76.1 68.3
1976 76.6 67.8
1975 75.3 67.2
1974 74.1 66.6
1973 74.3 65.8
1972 74.4 65.2
1971 73.5 64.7
1970 73.8 64.1
1969 73.7 63.7
1968 73.9 63.2
1967 73.7 62.9
1966 73.1 62.6
1965 73.8 62.3
1964 73.5 62.1
1963 72.9 61.8
1962 73.6 61.4
1961 73.4 60.9
1960 74 60.3
1959 72.6 59.6
1958 73.3 58.9
1957 73.4 58.3
1956 72.9 57.9
1955 73.3 57.5
1954 73.3 57.2
1953 72.3 56.8
1952 72.4 56.4
1951 71 55.9
1950 71 55.4

Data sources: United Nations | World Population Prospects (1950–2026, retrieved 2026-03-10).

GeoRank.org/facts/iceland/panama | CC BY

Iceland and Panama population clocks and comparison

Population
Iceland

Panama
1x
Year Population
Iceland Panama
2024 386,506 4,515,577
2023 385,663 4,458,759
2022 382,003 4,400,773
2021 372,520 4,345,405
2020 366,463 4,293,261
2019 360,563 4,234,700
2018 352,721 4,167,860
2017 343,400 4,098,707
2016 335,439 4,029,086
2015 330,815 3,960,035
2014 327,386 3,892,101
2013 323,764 3,825,329
2012 320,716 3,759,256
2011 319,014 3,693,505
2010 318,041 3,628,535
2009 318,499 3,564,381
2008 317,414 3,500,648
2007 311,566 3,437,490
2006 303,782 3,375,024
2005 296,734 3,313,026
2004 292,074 3,251,155
2003 289,521 3,189,807
2002 287,523 3,129,344
2001 284,968 3,069,537
2000 281,205 3,010,369
1999 277,381 2,951,822
1998 274,047 2,893,914
1997 271,128 2,836,695
1996 268,916 2,780,227
1995 267,468 2,724,557
1994 266,021 2,669,546
1993 263,725 2,615,099
1992 261,057 2,561,336
1991 257,797 2,508,265
1990 254,826 2,455,583
1989 252,852 2,403,820
1988 249,740 2,352,848
1987 245,859 2,301,970
1986 243,180 2,251,325
1985 241,405 2,200,915
1984 239,511 2,150,782
1983 236,977 2,101,106
1982 233,860 2,052,271
1981 230,755 2,004,418
1980 228,138 1,957,534
1979 225,735 1,911,552
1978 223,537 1,866,311
1977 221,799 1,821,543
1976 220,154 1,776,935
1975 217,979 1,732,389
1974 215,209 1,687,926
1973 212,317 1,643,690
1972 209,137 1,599,723
1971 206,098 1,556,081
1970 204,438 1,513,070
1969 203,369 1,470,886
1968 201,488 1,429,447
1967 198,751 1,388,628
1966 195,570 1,348,388
1965 192,286 1,308,835
1964 188,983 1,270,065
1963 185,653 1,232,124
1962 182,378 1,195,301
1961 179,029 1,159,870
1960 175,574 1,126,005

Data sources: World Bank | Health (1960–2024, retrieved 2026-04-06).

GeoRank.org/facts/iceland/panama | CC BY

Fertility rates in Iceland and Panama

Fertility rate
Iceland

Panama
1x
Year Fertility rate
Iceland Panama
2023 1.59 2.12
2022 1.59 2.14
2021 1.82 2.15
2020 1.72 2.18
2019 1.74 2.29
2018 1.71 2.4
2017 1.71 2.46
2016 1.74 2.5
2015 1.8 2.53
2014 1.93 2.55
2013 1.93 2.57
2012 2.04 2.59
2011 2.02 2.6
2010 2.2 2.59
2009 2.23 2.59
2008 2.15 2.61
2007 2.09 2.61
2006 2.08 2.62
2005 2.05 2.64
2004 2.04 2.68
2003 1.99 2.68
2002 1.93 2.7
2001 1.95 2.72
2000 2.08 2.74
1999 1.99 2.77
1998 2.05 2.79
1997 2.04 2.81
1996 2.12 2.83
1995 2.08 2.85
1994 2.14 2.88
1993 2.22 2.91
1992 2.21 2.95
1991 2.18 3
1990 2.3 3.07
1989 2.19 3.12
1988 2.26 3.17
1987 2.06 3.25
1986 1.92 3.34
1985 1.93 3.43
1984 2.08 3.52
1983 2.24 3.6
1982 2.27 3.66
1981 2.33 3.72
1980 2.48 3.8
1979 2.49 3.88
1978 2.35 3.98
1977 2.31 4.12
1976 2.52 4.26
1975 2.65 4.41
1974 2.66 4.58
1973 2.94 4.74
1972 3.09 4.91
1971 2.92 5.05
1970 2.81 5.18
1969 2.99 5.29
1968 3.06 5.41
1967 3.28 5.53
1966 3.59 5.65
1965 3.73 5.73
1964 3.88 5.81
1963 3.99 5.87
1962 3.98 5.87
1961 3.88 5.87
1960 4.29 5.83

Data sources: World Bank | Health (1960–2023, retrieved 2026-04-06).

GeoRank.org/facts/iceland/panama | CC BY

Iceland and Panama demographics compared

Median age
Iceland

Panama
1x
Year Median age, years
Iceland Panama
2024 37.1 30.9
2023 36.9 30.6
2022 36.7 30.3
2021 36.7 30
2020 36.6 29.7
2019 36.5 29.4
2018 36.4 29.1
2017 36.3 28.8
2016 36.2 28.5
2015 36 28.3
2014 35.7 28
2013 35.5 27.8
2012 35.4 27.5
2011 35.1 27.2
2010 34.9 27
2009 34.6 26.7
2008 34.5 26.4
2007 34.6 26.1
2006 34.5 25.9
2005 34.2 25.6
2004 34 25.3
2003 33.7 25.1
2002 33.4 24.8
2001 33 24.5
2000 32.8 24.3
1999 32.6 24
1998 32.4 23.7
1997 32.1 23.5
1996 31.8 23.2
1995 31.5 22.9
1994 31.1 22.7
1993 30.8 22.4
1992 30.5 22.1
1991 30.2 21.8
1990 30 21.5
1989 29.6 21.3
1988 29.3 21
1987 29.1 20.7
1986 28.8 20.4
1985 28.4 20.2
1984 28 19.9
1983 27.7 19.7
1982 27.5 19.5
1981 27.2 19.2
1980 26.9 19
1979 26.7 18.8
1978 26.4 18.6
1977 26 18.4
1976 25.7 18.3
1975 25.4 18.1
1974 25.1 18
1973 24.9 17.8
1972 24.8 17.7
1971 24.7 17.7
1970 24.5 17.6
1969 24.3 17.6
1968 24.2 17.5
1967 24.1 17.5
1966 24.1 17.5
1965 24.2 17.5
1964 24.4 17.6
1963 24.7 17.6
1962 24.9 17.7
1961 25.2 17.8
1960 25.4 17.8

Data sources: World Bank | Health (1960–2024, retrieved 2026-04-06).

GeoRank.org/facts/iceland/panama | CC BY

Interactive Maps

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National statistics comparison

Finance

Iceland Panama
GNI, Atlas method
$31.8B
2024
$81.3B
2024
Government expenditure, % of GDP
46.5%
2024
23.1%
2024
Education expenditure, % of GDP
7.29%
2022
2.47%
2023
Military expenditure, % of GDP n/a
0.97%
1999
Armed forces personnel
0
2020
28,000
2020
Deficit/surplus, % of GDP
-3.51%
2024
-7.42%
2024
Unemployment rate
3.56%
2024
8.61%
2024
Services, % of GDP
64.9%
2024
69.3%
2024
Industry, % of GDP
20.1%
2024
25.5%
2024
Economic freedom index
75
2026
64.9
2026
Income share by richest 10%
22.4%
2019
37.6%
2024
Income share by poorest 10%
3.7%
2019
1.2%
2024
Number of billionaires
1
2025
0
2025
Percentage of billionaires
0.0003%
2025
0%
2025
Listed domestic companies
34
2004
36
2024
Market capitalization of domestic companies n/a
$18.3B
2024
Total reserves including gold
$6.4B
2024
$6.86B
2024
Personal remittances received
$246M
2024
$532M
2024
International tourist arrivals
488,000
2020
647,000
2020
International tourism as share of exports
11.9%
2008
9.3%
2020
Banked people share
99.9%
2024
64.1%
2024

Energy

Iceland Panama
Energy use, kg of oil equivalent per capita
15,686 kg
2023
1,063 kg
2022
GDP PPP per kg equivalent of energy use
$5.2
2023
$34.2
2022
Carbon dioxide (CO2) emissions
3.29 megatons
2024
12.4 megatons
2024
CO2 emissions per capita
8.52 tons
2024
2.74 tons
2024
Fossil fuel energy use share
10.3%
2023
76.5%
2022
Renewable energy use share
82.4%
2021
28%
2021
Alternative and nuclear energy use share
88.8%
2023
17.3%
2022
Net energy imports use share
20.5%
2009
171.2%
2022
Electric power consumption per capita
50,951 kWh
2023
2,546 kWh
2022
Renewable electricity output share
100%
2016
79.3%
2021
Hydroelectric share
70.3%
2023
66.3%
2022
Nuclear share
0%
2021
0%
2021
Electricity access
100%
2023
97%
2023

Society

Iceland Panama
% of world population
0.005%
2024
0.06%
2024
Annual migration change
+2,709
2025
+6,151
2025
Urban population
94.2%
2024
66%
2024
Male:Female ratio
51.2:48.8
2024
50:50
2024
Average male height
5.97 ft
2025
5.58 ft
2025
Average female height
5.54 ft
2025
5.19 ft
2025
Quality of life index
93.6
2026
60.2
2026
Corruption Perceptions Index
77
2025
33
2025
Higher education index
79
2026
40
2026
Homicides per 100K people
1.07
2022
11.3
2022
Road traffic mortality per 100K people
2
2019
13.9
2019
Visa free countries
168
2025
138
2025
Adult literacy rate
99%
2003
96.3%
2024
English speaking
98%
2023
14%
2023
People using the Internet
99.8%
2023
68.5%
2023

Health

Iceland Panama
Government health expenditure per capita
$7,642
2024
$1,558
2023
Out-of-pocket health expenditure per capita
$1,137
2024
$630
2023
Life expectancy
83.3 years
2026
80.1 years
2026
Foreign aid share of health expenditure
0%
2023
0.76%
2023
Physicians per 1,000 people
4.37
2023
1.63
2022
Age at first childbirth
28.8 years
2023
n/a
Maternal mortality per 100K births
3
2023
37
2023
Mortality rate before reaching 5 years of age
2.6
2023
13.3
2023
Obesity rate
21.8%
2022
37.1%
2022
Diabetes prevalence
6.9%
2024
11.1%
2024
Air quality index
98
2026
79
2026
Tobacco use prevalence
9.4%
2022
5.2%
2022
Pure alcohol consumption per capita
7.94 liters
2020
4.66 liters
2020

Territory

Iceland Panama
% of world land
0.07%
2026
0.05%
2026
Land area per capita
100,725 sq mi
2024
6,343 sq mi
2024
Agricultural land area
6,324 sq mi
2026
8,456 sq mi
2026
Forest area
205.8 sq mi
2026
16,138 sq mi
2026
Roads length
8,014 mi
2012
n/a

In-depth comparisons

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Data sources:

  1. World Bank | Health (1960–2025, retrieved 2026-04-06)
  2. United Nations | World Population Prospects (1950–2026, retrieved 2026-03-10)
  3. U.S. Census Bureau (1960–2025, retrieved 2026-02-08)
  4. Central Intelligence Agency (CIA) (2000–2019, retrieved 2026-02-20)
  5. International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
  6. LivingCost (2026, retrieved 2025-10-14)
  7. World Obesity Federation (2022, retrieved 2026-02-08)
  8. Passport Index (2025, retrieved 2026-02-08)
  9. Transparency International (2025, retrieved 2026-02-10)
  10. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  11. EduRank (2026, retrieved 2025-10-13)
  12. United Nations Economic Commission for Europe (UNECE) (2023, retrieved 2026-03-10)

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