Penn World Table. Tourism accounted for 8.6% of Iceland’s GDP in 2016, and 39% of total exports of merchandise and services. A stunning $12 trillion—almost 40 percent of all foreign direct investment positions globally—is completely artificial: it consists of financial investment passing through empty corporate shells with no real activity. India’s economy is the fifth-largest in the world with a GDP of $2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot. Further discussion on this topic can be found in the List of countries by GDP (PPP) per capita article. Iceland Posts Trade Surplus for 1st Time in Near 2 Years, Iceland Inflation Rate Rises to 3.6% in December, Iceland Jobless Rate Climbs to Highest Since 2012, Iceland October Producer Inflation Lowest in 4 Months, Iceland Current Account Surplus Shrinks in Q3, Moody’s Changes Iceland’s Outlook to Positive, WTI Crude Prices Drop 1.9%, Book Weekly Loss, US Stocks Book Weekly Gain, Nasdaq Lands Fresh High, European Stocks Drop for 2nd Session on Friday, South African Stocks Edge Lower but Post Weekly Gain, US Crude Inventories Jump for 1st Time in 6 Weeks, Slovakia Current Account Deficit at EUR 106.5M. INTRODUCTION. All Countries and Economies. In terms of consumption per capita, a measure of material or economic well-being, the USA remained the highest with an average per capita spend four and a half times that of the world average in 2019 at around $43,000. Luxembourg has the highest GDP per capita in Europe. I hope you find the information useful. GDP per capita is often considered an indicator of a country's standard of living;[1][2] however, this is problematic because GDP per capita is not a measure of personal income. For instance, the Irish GDP data above is subject to material distortion by the tax planning activities of foreign multinationals in Ireland. Rep. 520 187 Niger 1,250 186 Madagascar 520 188 Congo, Dem. Bermuda. What is GDP per capita? Gross domestic product (GDP) growth rate in Iceland 2025* Iceland: Share in global GDP adjusted for PPP 2025* Distribution of gross domestic product (GDP) across economic sectors Iceland 2019 Slovenia has the highest GDP per capita in the Eastern Europe. From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States. Many of leading GDP-per-capita (nominal) jurisdictions are tax havens whose economic data is artificially inflated by tax-driven corporate accounting entries. 1. This is the value of all final goods and services produced within a nation in a given year, converted at market exchange rates to current U.S. dollars, divided by the average population for the same year. The economy of Iceland is small and subject to high volatility. IMF GDP per capita estimate for 2019 for the different countries in Western and Eastern Europe is as follows. Selecting all countries, GDP per capita (current US$), World Bank. 🙂 2. These economies are not ranked in the charts here, but are listed in sequence by GDP for comparison. In 2011, gross domestic product was US$12 billion, but by 2018 it had increased to a nominal GDP of US$27 billion. 32 economic data series with tags: Iceland, GDP, Annual, PWT. 1960 - 2019 GDP per capita growth (annual %) ... GDP per capita (current LCU) GDP per capita, PPP (constant 2017 international $) Inflation, GDP deflator (annual %) Oil rents (% of GDP) Download. For rankings regarding wealth, see list of countries by wealth per adult Method. The Trading Economics Application Programming Interface (API) provides direct access to our data. Menu. Accessed on 1st of … Iceland gni per capita for 2019 was $72,850, a 7.31% increase from 2018. The Gross Domestic Product per capita in Iceland was last recorded at 55874 US dollars in 2019, when adjusted by purchasing power parity (PPP). Below you can find an updated list with all the European countries by GDP per capita according to the most recent data from the International Monetary Fund (2019). Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Iceland’s economic freedom score is 77.1, making its economy the 13th freest in the 2020 Index. The Gross Domestic Product per capita in Iceland was last recorded at 51332.14 US dollars in 2019. Dollars) After suffering the second-sharpest contraction on record in Q2, the economy started to show tentative signs of recovery towards the end of Q3. ... 1961 - 2019 GDP per capita (constant 2010 US$) ... GDP per capita, PPP (constant 2017 international $) GDP per capita (current US$) Inflation, GDP deflator (annual %) Luxembourg is followed by Switzerland, Norway, Ireland, and Iceland. Gross national income per capita 2019, Atlas method and PPP Purchasing Atlas power parity methodology (international Ranking Economy (US dollars) Ranking Economy dollars) 186 Congo, Dem. $51,700 (2016 est.) The gross domestic product per capita, or GDP per capita, is a measure of a country's economic output that accounts for its number of people. Iceland gni per capita for 2018 was $67,890, a 12.16% increase from 2017. … Non-sovereign entities (the world, continents, and some dependent territories) and states with limited international recognition (such as Kosovo and Taiwan) are included in the list in cases in which they appear in the sources. Download historical data for 20 million indicators using your browser. Historical data can be found here. Ten Member States recorded a level of GDP per capita above the EU average in 2019. Gross Domestic Product (GDP) per capita shows a country's GDP divided by its total population. The GDP per Capita, in Iceland, when adjusted by Purchasing Power Parity is equivalent to 315 percent of the … Tourism accounted for more than 10% of Iceland's GDP in 2017. In 2019, GDP for Iceland was 24.22 billion US dollars. Such fluctuations change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Top Losers in 2019 : At current prices, Out of 192 economies estimated by … Online tool for visualization and analysis. These investments in empty corporate shells almost always pass through well-known tax havens. COUNTRIES BY GDP PER CAPITA (in USD $; 2019) Luxembourg: 115,200; Switzerland: 85,160; Norway: 82,770; Iceland: 79,270; Ireland: 77,160; Qatar: 72,680 DataBank Microdata Data Catalog. Country. Their GDP data are subject to material distortion by the tax planning activities of foreign multinationals. The figures presented here do not take into account differences in the cost of living in different countries, and the results vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Since the country only has 343,400 people, that translates to a wealthy $71,311 gross domestic product per capita. Per capita gross domestic product (GDP) is a metric that breaks down a country's economic output per person and is calculated by dividing the GDP of a country by its population. Direct access to our calendar releases and historical data. Western Europe– Luxembourg $113,196 , Switzerland $83,717 , Norway $77,975 , Ireland $77,771 , Iceland $67,037 , Denmark $59,795 , Netherlands $52,368 , Sweden $51,242 , Austria $50,023 , Finland $48,8… Iceland gni per capita for 2017 was $60,530, a 9.76% increase from 2016. Iceland - GDP per capita (U.S. 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. Gross Domestic Product. FRED: Download, graph, and track economic data. From 2010 to 2017, the number of tourists visiting Iceland increased by nearly 400%. This page lists the countries of the world sorted by their gross domestic product per capita at nominal values. In addition, non-sovereign entities are marked in italics. In 2019, GDP per capita expressed in PPS ranged between 53% of the EU average in Bulgaria and 260% in Luxembourg. Iceland's three largest banks collapsed in late 2008. On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. In 2017, Iceland's gross domestic product was $24.49 billion. Note that many of leading GDP-per-capita (nominal) jurisdictions, such as Ireland, are tax havens. The latest comprehensive information for - Iceland GDP per capita PPP - including latest news, historical data table, charts and more. As of 2019, the estimated average GDP per capita (PPP) of all of the countries of the world is Int$18,381. PPP largely removes the exchange rate problem but not others; it does not reflect the value of economic output in international trade, and it also requires more estimation than GDP per capita. GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year. I hope you find the information useful. GDP - per capita: $52,200 (2017 est.) All data are in current United States dollars. With a population of 350,000, this is $55,000 per capita, based on purchasing power parity (PPP) estimates. Iceland gdp per … GDP per Capita in Iceland (with a population of 334,393 people) was $52,372 in 2017, an increase of $1,695 from $50,677 in 2016; this represents a change of 3.3% in GDP per capita. The foreign exposure of Icelandic banks, whose loans and other assets totaled nearly nine times the country's GDP, became unsustainable. To address this, in 2017 the Central Bank of Ireland created "modified GNI" (or GNI*) as a more appropriate statistic, and the OECD and IMF have adopted it for Ireland. Distribution of gross domestic product (GDP) across economic sectors Lesotho 2019 Value of unmilled wheat imported into Iceland 2009-2019 Goods and services purchased online in Iceland 2011 to 2014 GDP Growth Rate in 2017 was 3.64%, representing a change of 677,594,227 US$ over 2016, when Real GDP was $16,835,179,721. The GDP per capita is obtained by dividing the country’s gross domestic product, adjusted by inflation, by the total population. The financial crisis of 2007–2010 produced a decline in GDP and employment that has since been reversed entirely by a recovery aided by a tourismboom starting in 2010. Graph and download revisions to economic data for from 1960 to 2019 about Iceland, per capita, real, and GDP. GDP > Purchasing power parity per capita : This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a … (See List of countries by GDP (PPP) per capita.) After … 55, NO. 2", Chart of GDP per capita at current US$ prices, World Map and Chart of GDP per capita at current prices, List of top international rankings by country, Number of broadband Internet subscriptions, https://en.wikipedia.org/w/index.php?title=List_of_countries_by_GDP_(nominal)_per_capita&oldid=1002369330, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License, This page was last edited on 24 January 2021, at 02:43. Publish your articles and forecasts in our website. Therefore, these figures should be used with caution.     Though Iceland GDP per capita fluctuated substantially in recent years, it tended to increase through 2000 - 2019 period ending at 67,857 US dollars in 2019. Consumer confidence shot up in September from August’s near-decade low, while exports rebounded strongly in the same month to their highest value since October 2019. In 2019, GDP per capita for Iceland was 67,857 US dollars. Comparisons of national income are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. Below you can find an updated list with all the countries by GDP per capita according to the most recent data from the International Monetary Fund (2019).. $48,900 (2015 est.) It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. This list contains projected GDP per capita (Nominal and PPP) of top 50 Countries/Economies in current prices of year 2019 and 2020 by IMF alongside their world rank, compare to world's average, gdp growth rate and gdp. Iceland gdp per capita for 2019 was $66,945, a 8.26% decline from 2018. The GDP per Capita in Iceland is equivalent to 406 percent of … Due to India’s high population, India’s GDP per capita is $2,170 (for comparison, the U.S. is $62,794). List of per capita nominal GDP for countries and dependencies, List of countries by GDP (PPP) per capita, Corporate haven § GDP-per-capita tax haven proxy, French President seeks alternatives to GDP, "European Parliament, Policy Department Economic and Scientific Policy: Beyond GDP Study", "World Economic Outlook Database, October 2020", "Piercing the Veil, FINANCE & DEVELOPMENT, JUNE 2018, VOL. GDP per capita growth (annual %) Iceland. 2015 Irish GDP is 143% of 2015 Irish GNI*. The GDP per Capita in Bermuda is equivalent to 110 percent of the world’s average. To address this, in 2017 the Central Bank of Ireland created "modified GNI" (or GNI*) as a more appropriate statistic, and the OECD and IMF have adopted it for Ireland. The eight major pass-through economies—the Netherlands, Luxembourg, Hong Kong SAR, the British Virgin Islands, Bermuda, the Cayman Islands, Ireland, and Singapore—host more than 85 percent of the world’s investment in special purpose entities, which are often set up for tax reasons. Rep. 1,110 189 Sierra Leone 500 189 Malawi 1,080 Though Iceland GDP fluctuated substantially in recent years, it tended to increase through 2000 - 2019 period ending at 24.22 billion US dollars in 2019. The table below lists countries in the world ranked by GDP at Purchasing Power Parity (PPP) per capita, along with the Nominal GDP per capita. Iceland - GDP After suffering the second-sharpest contraction on record in Q2, the economy started to show tentative signs of recovery towards the end of Q3. Gross Domestic Product (GDP) per capita, a measure of economic activity, also shows substantial differences between the EU Member States. 1960-2019 Data | 2020-2021 Forecast | Historical | Chart. Close. 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