IMD World Competitiveness Booklet 2021
COMPETITIVENESS TRENDS - OVERALL ICELAND
OVERALL PERFORMANCE (64 countries)
BASIC FACTS Capital Land area (square km '000)
Rank
Reykjavik
2017 2018 2019 2020 2021
103 2020
135.422 2020
20
20
Exchange Rate (per $)
21
21
24
0.36 2020 21.7 2020
64
Population - market size (millions)
CHALLENGES IN 2021 Getting tourism back on its feet. Boosting investment across infrastructure, businesses, R&D and • Getting tourism back on its feet. • Boosting investment across infrastructure, businesses, R&D and housing. • Reducing unemployment beyond pre-COVID levels. • Stop wage hikes from exceeding inflation target and productivity growth. • Keeping the lid on inflation once the economy rebounds.
62
Gross Domestic Product (GDP) (US$ billions)
55,966 2020 -6.7 2020 2.85 2020 6.70 2020 0.21 2020 1.05 2020 8.7 2019 -2.42 2019
12
GDP (PPP) per capita (US$)
48
Real GDP growth (%)
49
Consumer price inflation (%)
32
Unemployment rate (%)
64
Labor force (millions)
34
Current account balance (% of GDP)
63
Direct investment stocks inward ($bn)
Icelandic Chamber of Commerce, Reykjavik Provi ed by: Icelandic Chamber of Commerce, Reykjavik
61
Direct investment flows inward (% of GDP)
COMPETITIVENESS LANDSCAPE
Economic Performance
Government Efficiency
Business Efficiency
Infrastructure
Domestic Economy
International Trade
International Investment Employment Prices
Public Finance
Tax Policy
Institutional Framework Business Legislation
Societal Framework
Productivity & Efficiency Labor Market Finance
Management Practices
Attitudes and Values
Basic Infrastructure
Technological Infrastructure Scientific Infrastructure
Health and Environment Education
2
2
4 7
6
9
13
17
17
21
24
27
33
35
37
42
43
55 52
62
PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)
POPULATIONS < 20 MILLION (35 countries)
2017 2018 2019 2020 2021
2017 2018 2019 2020 2021
13
13
14
14
14
14
14
15
16
15
74
IMD WORLD COMPETITIVENESS BOOKLET 2021
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