IMD World Competitiveness Booklet 2022

Competitiveness Country Profiles

Iceland Competitiveness Trends – Overall

OVERALL PERFORMANCE (63 countries)

BASIC FACTS

Rank

2018

2019

2020

2021

2022

Capital Land area (square km '000)

Reykjavik

103 2021

126.989 2021

16

Exchange Rate (per $)

20

21

21

0.37 2021 63 25.5 2021 61 59,793 2021 13 4.3 2021 42 4.45 2021 46 6.20 2021 34 0.21 2021 63 -2.79 2021 52 7.5 2020 62 -4.75 2020 61

24

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2022

GDP (PPP) per capita (US$)

• Rising inflation and worsening inflation expectations. • Global commodity shortages due to supply-chain disruptions. • Increased labour shortages. • Increased wage pressure in the forthcoming collective pay agreements. • Getting tourism back on its feet.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Icelandic Chamber of Commerce, Reykjavik

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

2 1 2 Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

3

7 2

8

13 14

16

19

24

28

34

35

35

43

45

49

58

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries)

POPULATIONS < 20 MILLION (36 countries)

2018

2019

2020

2021

2022

2018

2019

2020

2021

2022

11

12

13

14

14

14

14

15

15

16

75