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
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