OECD Economic Surveys: Iceland 2023
Basic statistics of Iceland, 2022
(Numbers in parentheses refer to the OECD average)²
|
LAND, PEOPLE AND ELECTORAL CYCLE |
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|---|---|---|---|---|---|
|
Population (million, 2022) |
0.4 |
Population density per km² (2022, OECD 2021) |
3.7 |
(38.7) |
|
|
Under 15 (%, 2022) |
18.6 |
(17.4) |
Life expectancy at birth (years, 2021) |
83.1 |
(78.7) |
|
Over 65 (%, 2022) |
15.0 |
(17.7) |
Men (2021) |
81.8 |
(75.9) |
|
International migrant stock (% of population, OECD: 2021) |
19.5 |
(13.2) |
Women (2021) |
84.5 |
(81.7) |
|
Latest 5-year average growth (%) |
2.1 |
(0.5) |
Latest general election |
September 2021 |
|
|
ECONOMY |
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|
Gross domestic product (GDP) |
Value added shares (%, 2021) |
||||
|
In current prices (billion USD) |
27.9 |
Agriculture, forestry and fishing |
5.1 |
(2.6) |
|
|
In current prices (billion ISK) |
3 766.4 |
Industry including construction |
22.8 |
(26.6) |
|
|
Latest 5-year average real growth (%) |
1.9 |
(1.6) |
Services |
72.2 |
(70.8) |
|
Per capita (thousand USD PPP, OECD: 2021) |
67.3 |
(50.9) |
|||
|
GENERAL GOVERNMENT Per cent of GDP |
|||||
|
Expenditure (OECD: 2021) |
46.1 |
(46.3) |
Gross financial debt (OECD: 2021) |
77.2 |
(107.5) |
|
Revenue (OECD: 2021) |
41.8 |
(38.8) |
Net financial debt (OECD: 2021) |
22.2 |
(68.7) |
|
EXTERNAL ACCOUNTS |
|||||
|
Exchange rate (ISK per USD) |
134.99 |
|
Main exports (% of total merchandise exports) |
||
|
PPP exchange rate (USA = 1) |
148.66 |
|
Manufactured goods |
46.1 |
|
|
In per cent of GDP |
|
Food and live animals |
38.0 |
||
|
Exports of goods and services |
46.3 |
(33.3) |
Machinery and transport equipment |
3.1 |
|
|
Imports of goods and services |
47.0 |
(34.9) |
Main imports (% of total merchandise imports) |
||
|
Current account balance |
-1.8 |
-(1.1) |
Machinery and transport equipment |
34.6 |
|
|
Net international investment position |
23.0 |
|
Mineral fuels, lubricants and related materials |
14.5 |
|
|
|
Miscellaneous manufactured articles |
12.4 |
|||
|
LABOUR MARKET, SKILLS AND INNOVATION |
|||||
|
Employment rate (aged 15 and over, %) |
71.8 |
(57.5) |
Unemployment rate, Labour Force Survey (aged 15 and over, %) |
3.8 |
(5.0) |
|
Men |
75.1 |
(65.4) |
Youth (aged 15-24, %) |
8.6 |
(10.9) |
|
Women |
68.3 |
(50.2) |
Long-term unemployed (1 year and over, %) |
0.5 |
(1.2) |
|
Participation rate (aged 15 and over, %, 2021) |
80.1 |
(60.9) |
Tertiary educational attainment (aged 25-64, %, 2021) |
43.1 |
(39.9) |
|
Average hours worked per year (2021) |
1,449 |
(1,728) |
Gross domestic expenditure on R&D (% of GDP, 2020) |
2.5 |
(3.0) |
|
ENVIRONMENT |
|||||
|
Total primary energy supply per capita (toe, 2021) |
15.9 |
(3.8) |
CO₂ emissions from fuel combustion per capita (tonnes, 2021) |
4.2 |
( 7.9) |
|
Renewables (%, 2021) |
88.9 |
(11.6) |
Water abstractions per capita (1 000 m³, 2014) |
9.2 |
|
|
Exposure to air pollution (more than 10 μg/m³ of PM 2.5, % of population, 2019) |
3.5 |
(61.7) |
Municipal waste per capita (tonnes, 2020) |
0.6 |
(0.5) |
|
SOCIETY |
|||||
|
Income inequality (Gini coefficient, 2017, OECD: latest available) |
0.250 |
(0.315) |
Education outcomes (PISA score, 2018) |
||
|
Relative poverty rate (%, 2017, OECD: 2018) |
4.9 |
(11.7) |
Reading |
474 |
(485) |
|
Median disposable household income (thousand USD PPP, 2017, OECD: 2018) |
34.3 |
(25.5) |
Mathematics |
495 |
(487) |
|
Public and private spending (% of GDP) |
Science |
475 |
(487) |
||
|
Health care (2021, OECD: 2020) |
9.7 |
(9.7) |
Share of women in parliament (%) |
47.6 |
(32.5) |
|
Pensions (2019) |
7.7 |
(9.5) |
Net official development assistance (% of GNI, 2017) |
0.3 |
(0.4) |
|
Education (% of GNI, 2021) |
7.2 |
(4.4) |
|
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¹ The year is indicated in parenthesis if it deviates from the year in the main title of this table.
² Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 80% of member countries.
Source: Calculations based on data extracted from databases of the following organisations: OECD, Statistics Iceland, International Energy Agency, International Labour Organisation, International Monetary Fund, United Nations, World Bank.