Arctic Region > Iceland > Economy

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Big Mac Index	$6.67		[1st of 65]
Business efficiency	85.349		[4th of 51]
DEFINITION: Based upon a business efficiency index where '100' represents the highest level of business efficiency.
SOURCE: The Economist.
Consumer price index	122.28 %		[68th of 165]
DEFINITION: Consumer price index reflects changes in the cost to the average consumer of acquiring a fixed basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. 2000 = 100		View time series
SOURCE: IMD International, 2005
Economic aid > Donor	$6,700,000.00		[25th of 26]
DEFINITION: The net official development assistance (ODA) from Organization for Economic Cooperation and Development (OECD) nations to developing countries and multilateral organizations. ODA is defined as financial assistance that is concessional in character, has the main objective to promote economic development and welfare of the less developed countries (LDCs), and contains a grant element of at least 25%. The entry does not cover other official flows (OOF) or private flows.
SOURCE: World Development Indicators database
Economic freedom	3.1		[14th of 156]
DEFINITION: Index of 'economic freedom', according to the American organisation 'The Heritage Foundation'. It is worth noting that such indices are based on highly culturally contingent factors. This data makes a number of assumptions about 'freedom' and the role of the government that are not accepted by much of the world's population. A broad discussion of The Heritage Foundation's definition and methodology can be found at http://www.heritage.org/research/features/index/ChapterPDFs/chapter5.HTML.
SOURCE: All CIA World Factbooks 18 December 2003 to 18 December 2008
Exports > Goods and services	34%		[85th of 156]
DEFINITION: Exports of goods and services as a % of GDP, 2000
SOURCE: The Heritage Foundation
Exports to US	$55,800,000.00		[100th of 224]
DEFINITION: in US dollars. Jan 2003 - March 2003
SOURCE: World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
GDP > PPP	$9,596,000,000.00		[126th of 163]
DEFINITION: Purchasing Power Parity (PPP) in Millions of International Dollars, 2004.
SOURCE: US Census Bureau
GDP growth > annual %	5.53 annual %		[62nd of 187]
DEFINITION: Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2000 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.		View time series
SOURCE: World Bank. 2005. World Development Indicators 2005.
GDP in 1970	$0.50		[26th of 26]
DEFINITION: Gross domestic product GDP by exchange rate billion US dollar in 1970.
SOURCE: World Development Indicators database
GDP per capita, PPP > current international $	36,510.21 PPP $		[6th of 169]
DEFINITION: GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current international dollars.		View time series
SOURCE: OECD
Gross National Income	$8,152,480,000.00		[83rd of 172]
DEFINITION: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
SOURCE: World Development Indicators database
Gross national income > constant LCU	786805600000
DEFINITION: Gross national income is derived as the sum of GNP and the terms of trade adjustment. Data are in constant local currency.		View time series
Human Development Index	0.956		[2nd of 178]
DEFINITION: The human development index values in this table were calculated using a consistent methodology and consistent data series. They are not strictly comparable with those in earlier Human Development Reports.
SOURCE: World Development Indicators database
Imports of goods, services and income > BoP, current US$	9,209,460,000 BoP $		[78th of 156]
DEFINITION: Imports of goods, services and income is the sum of goods (merchandise) imports, imports of (nonfactor) services and income (factor) payments. Data are in current U.S. dollars.		View time series
SOURCE: Human Development Report 2006, United Nations Development Programme
Overall productivity > PPP	$53,705.00		[18th of 49]
DEFINITION: Estimates: GDP (PPP) per person employed, US$
SOURCE: World Development Indicators database
Research and development spending	2.1%		[11th of 69]
DEFINITION: Research and development (R&D) expenditures for most recent year available between 1990 and 2000.
SOURCE: IMD International
Stock exchange Iceland Stock Exchange
DEFINITION: The nation's major stock exchange.
SOURCE: World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; aggregates calculated for the Human Development Report Office by the World Bank
Total reserves minus gold > current US$	1,035,689,000 $		[106th of 178]
DEFINITION: Total reserves minus gold comprise special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. Gold holdings are excluded. Data are in current U.S. dollars.		View time series
SOURCE: Global Edge
Tourist arrivals by region of origin > Europe	714,982		[52nd of 195]
SOURCE: World Development Indicators database		View time series

Interesting facts on Icelandic Economy

• Three of the top ten countries for GDP per capita are island nations: Bermuda, Cayman Islands, and Iceland.

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