IMD World Competitiveness Yearbook 2020...IMD World Competitiveness Yearbook 2020 BASIC FACTS Capital Land area (square km '000) 103 2019 Exchange Rate (per $) 122.607 2019 Population

ICELAND

COUNTRYPROFILE ICELAND

CONTENTS<<COUNTRY>> 1

IMD World Competitiveness Yearbook 2020

BASIC FACTSCapital

Land area (square km '000) 1032019

Exchange Rate (per $) 122.6072019

Population - market size (millions) 0.362019 63

Gross Domestic Product (GDP) (US$ billions) 24.22019 62

GDP (PPP) per capita (US$) 56,1532019 12

Real GDP growth (%) 1.92019 36

Consumer price inflation (%) 3.012019 49

Unemployment rate (%) 3.502019 13

Labor force (millions) 0.212019 63

Current account balance (% of GDP) 5.812019 14

Direct investment stocks inward ($bn) 9.12018 63

Direct investment flows inward (% of GDP) -1.802019 58

PEER GROUPS RANKINGSEUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < 20 MILLION (34 countries)

COMPETITIVENESS TRENDS - OVERALL

ICELANDOVERALL PERFORMANCE (63 countries) Rank

Reykjavik

CHALLENGES IN 2020Following up on the success in fighting Covid-19 by avoiding a

second wave of the epidemic.

Icelandic Chamber of Commerce, Reykjavik

COMPETITIVENESS LANDSCAPE

2320

2420 21

2016 2017 2018 2019 2020

55 57 57

18

60

18

34

23 21

6

17

33 32

28

1

23

35

106

Dom

estic

Eco

nom

y

Inte

rnat

iona

l Tra

de

Inte

rnat

iona

l Inv

estm

ent

Empl

oym

ent

Pric

es

Publ

ic F

inan

ce

Tax

Polic

y

Inst

itutio

nal F

ram

ewor

k

Busi

ness

Leg

isla

tion

Soci

etal

Fra

mew

ork

Prod

uctiv

ity &

Effi

cien

cy

Labo

r M

arke

t

Fina

nce

Man

agem

ent

Prac

tices

Att

itude

s an

d V

alue

s

Basi

c In

fras

truc

ture

Tech

nolo

gica

l Inf

rast

ruct

ure

Scie

ntifi

c In

fras

truc

ture

Hea

lth a

nd E

nvir

onm

ent

Educ

atio

n

Economic Performance Government Efficiency Business Efficiency Infrastructure

15

13

15

1314

2016 2017 2018 2019 2020

1614

1614 14

2016 2017 2018 2019 2020

• Following up on the success in fighting Covid-19 by avoiding a second wave of the epidemic.

• Coordinating policy efforts to minimise negative and prolonged impact of Covid-19 on the economy.

• Ensuring that tourism, Iceland‘s largest export, starts recovery as soon as possible.

• Meanwhile, not losing long-term focus and address other challenges Iceland faces.

• Planting the seeds for the next growth phase by enhancing innovation.

Provided by:Icelandic Chamber of Commerce, Reykjavik

IMPROVEMENTSWCY 2019

WCY 2020 DECLINES

WCY 2019

1.2.02 Current account balance 2.90 5.81 1.1.18 Gross fixed capital formation - real growth 2.06

4.4.23 Environment-related technologies 0.01 0.02 2.5.02 Homicide 0.30

4.2.16 High-tech exports (%) 13.78 23.47 2.1.02 Government budget surplus/deficit (%) 1.10

2.3.05 Central bank policy 4.19 6.27 1.1.15 Real GDP growth per capita 1.91

4.3.18 Number of patents in force 310.5 435.6 1.4.04 Employment - long-term growth 3.36

3.4.11 Women in management 32.38 43.05 2.3.08 Exchange rate stability 0.087

2.3.02 Cost of capital 2.71 3.54 1.1.14 Real GDP growth 4.6

1.4.08 Long-term unemployment 0.34 0.25 3.2.14 Labor force long-term growth 1.05

2.5.04 Risk of political instability 5.32 6.62 1.4.09 Youth unemployment 6.10

2.4.09 State ownership of enterprises 4.66 5.67 1.4.10 Youth exclusion 3.9

2.3.10 Adaptability of government policy 4.74 5.70 1.4.07 Unemployment rate 2.80

4.1.20 Electricity costs for industrial clients 0.028 0.023 2.4.12 New business density 12.1

4.4.12 Energy intensity 145 121 2.4.07 Government subsidies 1.31

3.4.04 Credibility of managers 5.77 6.67 4.3.16 Patent applications per capita 96.52

3.3.08 Stock markets 4.42 5.03 2.3.09 Legal and regulatory framework 6.06

COMPETITIVENESS EVOLUTION & ATTRACTIVENESS INDICATORS

ICELANDCOMPETITIVENESS EVOLUTION

-6.32

0.92

0.143

1.9

0.44

8.70

4.9

80.64

The criteria below highlight the 15 biggest Improvements and the 15 biggest Declines in the overall performance of the economy. They are

determined by the largest percentage changes in the value of each criterion from one yearbook to the next.

WCY 2020

5.12

KEY ATTRACTIVENESS INDICATORSFrom a list of 15 indicators, respondents of the Executive Opinion Survey were asked to select 5 that they perceived as the key

attractiveness factors of their economy. The chart shows the percentage of responses per indicator from the highest number of responses

to the lowest.

0.90

-0.99

-0.52

3.50

9.9

1.54

6.1%6.1%6.1%15.2%16.7%18.2%19.7%21.2%24.2%27.3%53.0%57.6%63.6%69.7%80.3%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Competency of governmentCost competitiveness

Competitive tax regimeEffective labor relations

Access to financingBusiness-friendly environmentPolicy stability & predictability

Quality of corporate governanceStrong R&D culture

Effective legal environmentReliable infrastructure

Open and positive attitudesSkilled workforce

Dynamism of the economyHigh educational level

Sub-Factor Rankings : 2019

Domestic Economy 45 International Trade 46 International Investment 58 Employment 8 Prices 60


Public Finance 2 Tax Policy 31 Institutional Framework 27 Business Legislation 24 Societal Framework 6


Productivity & Efficiency 18 Labor Market 34 Finance 35 Management Practices 13 Attitudes and Values 10


Basic Infrastructure 1 Technological Infrastructure 29 Scientific Infrastructure 33 Health and Environment 13 Education 8

COMPETITIVENESS TRENDS - FACTOR BREAKDOWN

ICELAND

ECONOMIC PERFORMANCE

2020

55 57

60

2020

18 34 23 21 6

2020

1

18

17 33 32 2 8

BUSINESS EFFICIENCY

GOVERNMENT EFFICIENCY

57

23 35 10 6

INFRASTRUCTURE

2020

29 39 57 54 58

2016 2017 2018 2019 2020

178

16 15 17

2016 2017 2018 2019 2020

27 24 22 19 15

2016 2017 2018 2019 2020

17 17 17 13 17

2016 2017 2018 2019 2020

Rank5

5

6

6

7

10

12

13

14

17

Rank1

2

2

4

5

5

5

6

9

10

Rank1

1

1

2

3

4

5

5

6

7

Rank1

1

1

1

1

2

2

2

3

3

1.1.21 GDP (PPP) per capita 1.3.06 Direct investment flows inward (% of GDP) 58

1.4.02 Employment (%) 1.2.12 Exports of commercial services ($bn) 61

1.2.13 Exports of commercial services (%) 1.1.18 Gross fixed capital formation - real growth 58

4.5.18 University education index 4.1.09 Dependency ratio 37

ICELANDSTRENGTHS WEAKNESSES

Infrastructure Infrastructure Rank

1.2.25 Tourism receipts 1.3.07 Direct investment stocks inward ($bn) 63

1.4.10 Youth exclusion 1.5.06 Gasoline prices 62

3.4.10 Social responsibility 3.2.09 Apprenticeships 40

2.4.18 Immigration laws 2.2.07 Effective personal income tax rate 41

Business Efficiency Business Efficiency Rank

1.4.09 Youth unemployment 1.1.15 Real GDP growth per capita 55

Government Efficiency Government Efficiency Rank

BALANCE SHEET - FACTOR BREAKDOWN

1.1.20 GDP per capita 1.2.08 Exports of goods ($bn) 62

1.4.08 Long-term unemployment 1.2.18 Export concentration by product 58

4.5.04 Total public exp. on education per student 4.2.12 Public-private partnerships 38

4.5.01 Total public expenditure on education 4.5.03 Gov. expenditure on education per student 41

4.1.20 Electricity costs for industrial clients 4.4.12 Energy intensity 41

4.1.04 Access to water 4.2.09 Internet bandwidth speed 45

4.4.19 Forest area growth 4.2.17 ICT service exports 42

4.2.10 Digital/Technological skills 4.4.24 Environmental agreements 57

4.2.11 Qualified engineers 4.4.23 Environment-related technologies 49

4.4.18 Renewable energies (%) 4.3.19 Medium- and high-tech value added 61

4.1.07 Population - growth 4.2.03 Mobile Telephone costs 60

3.2.12 Labor force (%) 3.2.22 Foreign highly-skilled personnel 41

3.2.21 Brain drain 3.2.14 Labor force long-term growth 41

3.2.19 Finance skills 3.2.23 International experience 43

3.4.03 Opportunities and threats 3.3.08 Stock markets 41

3.4.11 Women in management 3.1.08 Large corporations 47

3.1.10 Use of digital tools and technologies 3.3.17 Venture capital 45

3.5.04 Flexibility and adaptability 3.2.03 Remuneration in services professions 58

3.2.18 Skilled labor 3.2.06 Working hours 58

2.4.13 Creation of firms 2.4.14 Start-up days 42

2.5.10 Equal opportunity 2.4.09 State ownership of enterprises 45

2.5.12 Unemployment rate - gender ratio 2.4.07 Government subsidies 44

2.3.07 Foreign currency reserves per capita 2.2.01 Collected total tax revenues 49

2.5.06 Gini coefficient 2.4.04 Foreign investors 48

2.3.16 Democracy Index 2.2.09 Consumption tax rate 56

2.2.10 Employee's social security contribution rate 2.4.06 Investment incentives 54

2.4.19 Redundancy costs 2.3.08 Exchange rate stability 58

2.1.11 Pension funding 2.3.02 Cost of capital 57

1.4.07 Unemployment rate 1.3.05 Direct investment flows inward ($bn) 57

1.2.02 Current account balance 1.3.03 Direct investment stocks abroad ($bn) 56

3.5.06 Digital transformation in companies 3.2.01 Compensation levels 59

Economic Performance Economic Performance Rank

Value Average Rank Year

122.607 793.808 2019

24.2 1,292.2 62 2019

20.0 1,995.1 63 2019

0.03 1.49 62 2019

12.3 717.6 62 2019

50.8 55.9 47 2019

5.9 211.0 61 2019

24.3 17.0 3 2019

4.9 325.6 60 2019

20.2 22.6 46 2019

6.0 357.6 59 2019

24.9 27.0 34 2019

2019

4.9 3.6 2019

21.7 28.7 2019

73.4 67.7 2019

- 0.83

1.9 1.8 36 2019

-0.52 1.46 55 2019

1.57 2.43 40 2019

4.08 3.30 20 2019

-6.32 4.42 58 2019

6.09 5.54 26 2020

67,755 30,659 5 2019

56,153 41,305 12 2019

-7.2 -5.4 50 2020

2.3 240.4 45 2020

1.1.00 · Exchange RateNational currency per US$ (average)

1.1.02 · GDP (PPP)Estimates ; US$ billions at purchasing power parity

1.1.04 · Household consumption expenditure ($bn)US$ billions

1.1.06 · Government consumption expenditure ($bn)US$ billions

1.1.09 · Gross fixed capital formation (%)Percentage of GDP

EXTENDED COUNTRY PROFILE

ICELAND1 · Economic Performance

1.1.01 · Gross Domestic Product (GDP)US$ billions

1.1.03 · World GDP contributionPercentage share of world GDP in market prices

1.1.05 · Household consumption expenditure (%)Percentage of GDP

1.1.08 · Gross fixed capital formation ($bn)US$ billions

1.1 · Domestic Economy

Percentage of GDP

1.1.23 · Forecast: Inflation

1.1.07 · Government consumption expenditure (%)

1.1.22 · Forecast: Real GDP growthPercentage change, based on national currency in constant prices

1.1.21 · GDP (PPP) per capitaEstimates; US$ per capita at purchasing power parity

1.1.19 · Resilience of the economyResilience of the economy to economic cycles is strong

1.1.20 · GDP per capitaUS$ per capita

1.1.18 · Gross fixed capital formation - real growthPercentage change, based on constant prices.

1.1.16 · Household consumption expenditure - real growthPercentage change, based on constant prices.

1.1.17 · Government consumption expenditure - real growthPercentage change, based on constant prices.

1.1.15 · Real GDP growth per capitaPercentage change, based on national currency in constant prices

1.1.14 · Real GDP growthPercentage change, based on national currency in constant prices

1.1.13 · Economic complexity indexMeasures knowledge intensity, by considering exports

Economic sectors / IndustryBreakdown as a percentage of GDP

Economic sectors / ServicesBreakdown as a percentage of GDP

1.1.12 · Economic sectorsBreakdown of the economic sectors, percentage of GDP

Economic sectors / AgricultureBreakdown as a percentage of GDP

1.1.10 · Gross domestic savings ($bn)US$ billions

1.1.11 · Gross domestic savings (%)Percentage of GDP

8.0 9.6 30 2020

2.1 0.2 18 2020


1.4 8.7 32 2019

5.81 1.49 14 2019

-1.3 -1.9 34 2019

-5.45 -0.23 48 2019

1.94 4.97 34 2019

8.00 2.21 7 2019

0.04 1.48 62 2019

5.22 278.87 62 2019

21.60 37.86 45 2019

14,633 12,380 18 2019

-5.98 -3.86 52 2019

5.61 88.96 61 2019

23.18 16.19 10 2019

-14.49 1.96 62 2019

10.83 368.70 62 2019

2018

20.6 10.2 2018

25.2 63.6 2018

54.1 26.2 2018

61.7 54.0 50 2018

86.9 54.6 58 2018

10.2 364.9 2 2019

42.2 52.3 33 2019

-14.49 -1.72 2 2019

2018

6.8 7.9 2018

57.5 68.1 2018

1.1.24 · Forecast: UnemploymentPercentage of total labor force

1.1.25 · Forecast: Current account balancePercentage of GDP/GNP

1.2 · International Trade

Percentage change

Imports breakdown by economic sector / Industry

Percentage of total imports


Percentage change, based on US$ values

Imports breakdown by economic sector / Agriculture

1.2.22 · Imports breakdown by economic sector

1.2.21 · Imports of goods & commercial services - growth

US$ billions

Percentage of GDP

Top 5 products, percentage of total exports

1.2.20 · Imports of goods & commercial services (%)

Exports to top 5 countries, percentage of total exports

1.2.19 · Imports of goods & commercial services ($bn)

Percentage of total exports

1.2.18 · Export concentration by product


1.2.17 · Export concentration by partner

Exports breakdown by economic sector / Services


Exports breakdown by economic sector / Industry

US$ billions

Exports breakdown by economic sector / Agriculture

1.2.16 · Exports breakdown by economic sectorPercentage of total exports

1.2.15 · Exports of goods & commercial services

Percentage of GDP


US$ billions

1.2.14 · Exports of commercial services - growth

1.2.13 · Exports of commercial services (%)

1.2.12 · Exports of commercial services ($bn)

US$ per capita


Percentage of GDP

1.2.11 · Exports of goods - growth

1.2.10 · Exports of goods per capita

1.2.09 · Exports of goods (%)

Percentage share of world exports (goods and commercial services)

Percentage of GDP

US$ billions

1.2.08 · Exports of goods ($bn)

1.2.07 · World exports contribution

US$ billions (minus sign = deficit)

1.2.04 · Balance of trade (%)

1.2.03 · Balance of trade ($bn)US$ billions (minus sign = deficit)

1.2.01 · Current account balance ($bn)US$ billions (minus sign = deficit)

1.2.02 · Current account balancePercentage of GDP

1.2.05 · Balance of commercial services ($bn)

1.2.06 · Balance of commercial services (%)

Percentage of GDP

35.7 24.0 2018

93.46 108.96 28 2018

101.5 105.6 31 2019

12.16 3.78 5 2018


0.32 18.40 51 2019

1.33 2.07 31 2019

5.3 486.7 56 2018

20.41 65.80 36 2018

-0.44 21.05 57 2019

-1.80 3.83 58 2019

9.1 480.0 63 2018

35.48 80.07 39 2018

0.76 -2.62 19 2019

3.13 -1.75 7 2019

-3.9 6.7 23 2018

-15.07 -14.27 36 2018

5.55 5.27 23 2020

1.14 31.84 46 2019

0.36 29.91 45 2019


0.20 39.79 63 2019

56.33 47.95 6 2019

1.36 1.34 29 2019

0.92 3.05 45 2019

2019

4.0 8.2 2019

16.9 23.8 2019

79.1 68.0 2019

19.19 17.29 39 2018

1.4 · Employment

1.4.06 · Employment in the public sector

Unit value of exports over unit value of imports

International tourism receipts as a percentage of GDP

1.3 · International Investment

1.3.13 · Relocation threats of businessRelocation of business is not a threat to the future of your economy

(Exports + Imports) / GDP

1.2.25 · Tourism receipts

1.3.15 · Portfolio investment liabilitiesUS$ billions


1.2.24 · Terms of trade index

1.3.14 · Portfolio investment assetsUS$ billions

1.3.12 · Net position in direct investment stocks (%)Percentage of GDP (stocks abroad minus stocks inward)

Imports breakdown by economic sector / ServicesPercentage of total imports

1.2.23 · Trade to GDP ratio

Percentage of total employment

1.3.11 · Net position in direct investment stocks ($bn)US$ billions (stocks abroad minus stocks inward)


Percentage of GDP (flows abroad minus flows inward)


1.3.10 · Balance of direct investment flows (%)


1.3.09 · Balance of direct investment flows ($bn)US$ billions (flows abroad minus flows inward)

Employment by sector / Services

Estimates: % of population, percentage change in 4 years

1.3.08 · Direct investment stocks inward (% of GDP)Percentage of GDP

Employment by sector / Industry

1.3.04 · Direct investment stocks abroad (% of GDP)Percentage of GDP

1.3.05 · Direct investment flows inward ($bn)US$ billions

Estimates: percentage change

1.4.01 · Employment

Percentage of population

1.4.03 · Employment - growth

1.3.07 · Direct investment stocks inward ($bn)US$ billions

1.4.04 · Employment - long-term growth

Employment by sector / Agriculture

1.3.06 · Direct investment flows inward (% of GDP)Percentage of GDP

1.4.05 · Employment by sector

Total employment in millions

1.3.03 · Direct investment stocks abroad ($bn)US$ billions

1.4.02 · Employment (%)

1.3.01 · Direct investment flows abroad ($bn)US$ billions

1.3.02 · Direct investment flows abroad (% of GDP)Percentage of GDP

3.50 6.19 13 2019

0.25 2.09 7 2019

8.70 14.62 17 2019

4.9 12.3 6 2018


3.01 318.95 49 2019

- 81.10

- 1,525

- 592

- 18.28

1.89 1.27 62 2019

1.5.05 · Food costsPercentage of household final consumption expenditures

Share of youth population (15-24) not in education, employment or training

1.5 · Prices

1.5.06 · Gasoline pricesPremium unleaded gasoline (95 Ron) US$ per litre

Percentage of youth labor force (under the age of 25)


Percentage of labor force

1.5.03 · Apartment rent3-room apartment monthly rent in major cities, US$

1.5.04 · Office rentTotal occupation cost in the main city (US$/Sq.M. per year)

Percentage of labor force

1.4.09 · Youth unemployment

1.5.01 · Consumer price inflationAverage annual rate

1.5.02 · Cost-of-living indexIndex of a basket of goods & services in the main city, including housing (New York City = 100)

1.4.08 · Long-term unemployment

1.4.10 · Youth exclusion

1.4.07 · Unemployment rate


-0.24 -44.46 25 2019

-0.99 -1.14 32 2019

8.03 1,109.75 3 2019

33.20 59.31 18 2019

-9.65 4.07 1 2019

62.25 37.53 47 2019

6.35 18.04 23 2019

5.84 5.69 39 2019

6.00 5.01 20 2020

5.67 4.86 24 2020

8.21 4.47 2 2020

39.9 35.4 41 2019


36.90 27.54 49 2018

14.59 5.93 61 2018

2.55 3.13 23 2018

12.02 9.83 45 2018

2.02 1.38 47 2018

3.52 7.18 18 2018

21.32 16.65 41 2017

20.00 23.01 16 2019

24.00 16.47 56 2019

0.36 9.27 4 2018

14.55 16.56 31 2018

5.09 5.23 35 2020


2.1 · Public Finance

2.2 · Tax Policy

2.3 · Institutional Framework

2.1.01 · Government budget surplus/deficit ($bn)US$ billions

2.1.03 · Total general government debt ($bn)US$ billions

2.1.05 · Total general government debt-real growthPercentage change, based on national currency in constant prices

2.1.07 · Central government foreign debtPercentage of GDP


2 · Government Efficiency

2.1.02 · Government budget surplus/deficit (%)Percentage of GDP

2.1.04 · Total general government debt (%)Percentage of GDP

2.1.06 · Central government domestic debtPercentage of GDP

2.1.12 · General government expenditurePercentage of GDP

2.2.12 · Real personal taxesReal personal taxes do not discourage people from working or seeking advancement

2.2.09 · Consumption tax rate

ICELAND

2.1.10 · Tax evasionTax evasion is not a threat to your economy

2.1.11 · Pension fundingPension funding is adequately addressed for the future

2.2.10 · Employee's social security contribution rateCompulsory contribution as a percentage of an income equal to GDP per capita

2.2.11 · Employer's social security contribution rateCompulsory contribution as a percentage of an income equal to GDP per capita

Standard rate of VAT/GST

2.1.09 · Public financesPublic finances are being efficiently managed

2.1.08 · Interest payment (%)Percentage of current revenue

2.2.08 · Corporate tax rate on profitMaximum tax rate, calculated on profit before tax

Percentage of an income equal to GDP per capita

2.2.05 · Collected capital and property taxesPercentage of GDP

2.2.06 · Collected social security contributionCompulsory contribution of employees and employers as a percentage of GDP

Taxes on goods and services as a percentage of GDP

2.2.04 · Collected indirect tax revenues

2.2.07 · Effective personal income tax rate

2.2.03 · Collected corporate taxesOn profits, income and capital gains, as a percentage of GDP

2.2.01 · Collected total tax revenuesPercentage of GDP

2.2.02 · Collected personal income taxOn profits, income and capital gains, as a percentage of GDP

1.69 0.16 48 2019

3.54 5.66 57 2020

2.83 3.86 33 2019

44.0 43.2 33 2019

6.27 6.37 40 2020

6.78 194.10 55 2019

18,999 7,262 5 2019

0.143 0.073 58 2019

5.12 5.24 35 2020

5.70 4.77 16 2020

6.64 4.89 15 2020

4.73 3.70 16 2020

7.48 4.80 15 2020

- 0.65

79.2 74.1 14 2019

9.58 7.04 2 2019


1.57 2.47 10 2017

6.76 5.89 22 2020

7.57 6.06 12 2020

5.97 6.89 48 2020

6.30 6.55 40 2020

4.83 5.97 54 2020

1.54 1.16 44 2019

6.34 5.48 17 2020

5.67 6.05 45 2020

5.42 5.85 39 2020

7.00 5.04 16 2020

9.9 5.8 13 2018

8.09 6.62 9 2020

2.4 · Business Legislation

2.3.16 · Democracy IndexEIU Overall Democracy Index, © The Economist Intelligence Unit Limited 2020

2.3.09 · Legal and regulatory frameworkThe legal and regulatory framework encourages the competitiveness of enterprises

2.3.13 · Bribery and corruptionBribery and corruption do not exist

2.3.15 · Sustainable Development GoalsCountry performance on the 17 SDGs

Transparency of government policy is satisfactory

2.3.14 · Rule of lawRule of Law Index

2.3.12 · BureaucracyBureaucracy does not hinder business activity

2.3.08 · Exchange rate stabilityParity change from national currency to SDR, 2019 / 2017

2.3.10 · Adaptability of government policyAdaptability of government policy to changes in the economy is high

2.3.11 · Transparency

2.3.07 · Foreign currency reserves per capitaUS$ per capita

2.4.12 · New business densityRegistered new businesses per 1'000 people aged 15-64

2.3.03 · Interest rate spreadLending rate minus deposit rate

2.4.13 · Creation of firmsCreation of firms is supported by legislation

2.3.06 · Foreign currency reservesUS$ billions

2.3.02 · Cost of capitalCost of capital encourages business development

Parallel (black-market, unrecorded) economy does not impair economic development

2.4.10 · Competition legislationCompetition legislation is efficient in preventing unfair competition

2.4.11 · Parallel economy

Index (0-60) of three country credit ratings: Fitch, Moody's and S&P

2.3.05 · Central bank policyCentral bank policy has a positive impact on the economy

2.4.08 · Subsidies

2.3.04 · Country credit rating

2.4.09 · State ownership of enterprisesState ownership of enterprises is not a threat to business activities

Real discount / bank rate

2.4.01 · Tariff barriersTariffs on imports: Applied weighted mean tariff rate for all products

Subsidies do not distort fair competition and economic development

2.4.06 · Investment incentivesInvestment incentives are attractive to foreign investors

2.4.07 · Government subsidiesTo private and public companies as a percentage of GDP

2.4.05 · Capital marketsCapital markets (foreign and domestic) are easily accessible

2.4.02 · ProtectionismProtectionism of your government does not impair the conduct of your business

2.4.03 · Public sector contractsPublic sector contracts are sufficiently open to foreign bidders

2.4.04 · Foreign investorsForeign investors are free to acquire control in domestic companies

2.3.01 · Real short-term interest rate

11.5 14.4 42 2019

5.0 5.9 25 2019

6.79 5.41 12 2020

6.21 5.15 14 2020

7.13 5.94 10 2020

0.0 9.4 1 2019


7.60 5.70 19 2020

0.90 4.66 24 2017

15.2 14.6 29 2019

6.62 5.73 25 2020

7.20 5.66 15 2020

26.80 35.62 5 2015

3.90 2.73 2015

22.50 27.25 2015

0.93 0.29 21 2016

7.82 6.21 5 2020

38.10 27.40 15 2019

0.80 1.38 6 2019

0.057 0.185 10 2018

81.3 71.3 17 2018

14.71 28.66 12 2019

2.5 · Societal Framework

2.5.15 · Freedom of the PressReporters Without Borders: World Press Freedom Score

2.5.14 · Disposable IncomeFemale / male ratio

2.5.12 · Unemployment rate - gender ratioRatio of the female and male unemployement rates

2.5.13 · Gender inequalityGender Inequality Index (UNDP)

2.5.11 · Females in parliamentPercentage of total seats in Parliament

2.5.10 · Equal opportunityEqual opportunity legislation in your economy encourages economic development

2.5.09 · Income share held by lowest 60% - growthPercentage change of household incomes going to lowest 60% of households

2.4.17 · Unemployment legislationUnemployment legislation provides an incentive to look for work

2.4.18 · Immigration lawsImmigration laws do not prevent your company from employing foreign labor

2.5.08 · Income distribution - highest 10%Percentage of household incomes going to highest 10% of households

2.5.03 · Ageing of populationPopulation over 65, percentage of total population

2.5.07 · Income distribution - lowest 10%Percentage of household incomes going to lowest 10% of households

2.5.06 · Gini coefficientEqual distribution of income scale: 0 (absolute equality) to 100 (absolute inequality)

2.4.16 · Labor regulationsLabor regulations (hiring/firing practices, minimum wages, etc.) do not hinder business activities

2.4.19 · Redundancy costsNumber of weeks of salary

2.5.05 · Social cohesionSocial cohesion is high

2.4.15 · Start-up proceduresNumber of procedures to start a business

2.4.14 · Start-up daysNumber of days to start a business

2.5.04 · Risk of political instabilityThe risk of political instability is very low

2.5.02 · HomicideIntentional homicide, rate per 100'000 population

2.5.01 · JusticeJustice is fairly administered


97,625 80,062 20 2019

3.02 1.48 14 2019

66.43 45.40 14 2019

122,782 50,407 4 2019

127,941 101,804 15 2019

92,539 81,069 21 2019

6.12 6.23 34 2020

6.27 6.77 47 2020

6.70 6.10 23 2020

7.73 6.16 3 2020


34.37 13.56 59 2019

1.92 2.15 22 2019

70,973 28,095 58 2018

52,703 18,887 2018

55,914 18,828 2018

66,765 30,314 2018

95,442 48,419 2018

90,127 29,545 2018

64,883 22,575 2018

97,700 168,521 15 2018

143,172 304,305 2018

80,852 148,714 2018

79,914 79,581 2018

86,864 141,483 2018

2.21 17.62 2 2018

3.1 · Productivity & Efficiency

3.1.10 · Use of digital tools and technologiesCompanies are very good at using digital tools and technologies to improve performance

3.2 · Labor Market

3.1.01 · Overall productivity (PPP)Estimates: GDP (PPP) per person employed, US$

3.1.02 · Overall productivity (PPP) - real growth

3.1.03 · Labor productivity (PPP)Estimates: GDP (PPP) per person employed per hour, US$

3.1.05 · Productivity in industry (PPP)Estimates: Related GDP (PPP) per person employed in industry, US$

3.1.06 · Productivity in services (PPP)Estimates: Related GDP (PPP) per person employed in services, US$

3.1.07 · Workforce productivityWorkforce productivity is competitive by international standards

Estimates: Percentage change of GDP (PPP) per person employed

3.1.04 · Agricultural productivity (PPP)Estimates: Related GDP (PPP) per person employed in agriculture, US$

ICELAND3 · Business Efficiency

3.1.08 · Large corporationsLarge corporations are efficient by international standards

3.1.09 · Small and medium-size enterprisesSmall and medium-size enterprises are efficient by international standards


3.2.05 · Remuneration spreadRatio of CEO to personal assistant remuneration

Remuneration of management / Human resources directorTotal base salary plus bonuses and long-term incentives, US$

Remuneration of management / EngineerTotal base salary plus bonuses and long-term incentives, US$

Remuneration of management / Director manufacturingTotal base salary plus bonuses and long-term incentives, US$

3.2.04 · Remuneration of managementTotal base salary plus bonuses and long-term incentives, US$

Remuneration of management / CEOTotal base salary plus bonuses and long-term incentives, US$

Remuneration in services professions / NurseGross annual income including supplements such as bonuses, in US$

Remuneration in services professions / Primary school Gross annual income including supplements such as bonuses, in US$

Percentage change

3.2.03 · Remuneration in services professionsGross annual income including supplements such as bonuses, US$

Remuneration in services professions / Call center agentGross annual income including supplements such as bonuses, in US$

3.2.01 · Compensation levelsTotal hourly compensation in manufacturing (wages + supplementary benefits), US$

3.2.02 · Unit labor costs for total economy

Remuneration in services professions / Sales AssistantGross annual income including supplements such as bonuses, in US$

Remuneration in services professions / Secretary / Personal Gross annual income including supplements such as bonuses, in US$

Gross annual income including supplements such as bonuses, in US$

Remuneration in services professions / Product Manager

1,470 1,843 58 2019

7.21 6.00 8 2020

- 11.83

4.79 5.21 40 2020

6.27 6.05 27 2020

0.21 41.84 63 2019

58.40 50.50 5 2019

2.21 0.86 9 2019

0.44 0.93 41 2019

17.02 13.81 17 2018

46.00 43.69 32 2019

14.71 17.00 17 2018

7.55 5.67 1 2020

8.00 6.37 4 2020

7.79 6.82 12 2020

7.27 5.07 6 2020

4.85 5.46 41 2020

5.22 5.74 43 2020

6.55 5.63 14 2020


110.22 147.23 34 2019

2.39 3.43 32 2019

24,532 10,405 4 2019

- 82.69

- 0.96

6.22 6.11 33 2020

7.17 6.92 31 2020

5.03 5.61 41 2020

9.5 1,185.3 54 2019

39.41 91.16 37 2019

3.3 · Finance

3.2.24 · Competent senior managersCompetent senior managers are readily available

3.2.22 · Foreign highly-skilled personnelForeign highly-skilled personnel are attracted to your country's business environment

3.2.23 · International experienceInternational experience of senior managers is generally significant

3.2.20 · Attracting and retaining talentsAttracting and retaining talents is a priority in companies

3.2.21 · Brain drainBrain drain (well-educated and skilled people) does not hinder competitiveness in your economy

3.3.08 · Stock markets

3.3.10 · Stock market capitalization (%)Percentage of GDP

3.2.19 · Finance skillsFinance skills are readily available

3.2.12 · Labor force (%)Percentage of population

3.2.13 · Labor force growthPercentage change

Percentage of total labor force

3.2.16 · Female labor force

3.2.17 · Foreign labor forcePercentage of total labor force

3.2.18 · Skilled laborSkilled labor is readily available

Stock markets provide adequate financing to companies

3.3.09 · Stock market capitalization ($bn)US$ billions

3.3.07 · Regulatory compliance (banking laws)

3.2.14 · Labor force long-term growthEstimates: % of population, percentage change in 4 years

3.2.15 · Part-time employmentPercentage of total employment

3.2.11 · Labor forceEmployed and registered unemployed (millions)

3.3.06 · Banking and financial servicesBanking and financial services do support business activities efficiently

Regulatory compliance is sufficiently developed

3.2.10 · Employee trainingEmployee training is a high priority in companies

3.3.04 · Access to financial servicesProportion of adults with a bank account or mobile-money-service provider

3.3.05 · Access to financial services - gender ratioRatio of the female and male access to a bank account or mobile-money-service provider

3.3.02 · Financial cards in circulationNumber of cards per capita

3.3.03 · Financial card transactionsUS$ per capita

Worker motivation in companies is high

3.2.07 · Worker motivation

3.2.08 · Industrial disputesWorking days lost per 1,000 inhabitants per year (average 2016-2018)

3.2.09 · ApprenticeshipsApprenticeships are sufficiently implemented

3.2.06 · Working hoursAverage number of working hours per year

3.3.01 · Banking sector assetsPercentage of GDP

13,399 17,857 17 2018

25 711 57 2017

6.60 1.66 14 2019

8.09 6.81 8 2020

314.0 3,308.6 42 2018

6.09 5.94 31 2020

4.36 5.17 45 2020

0.140 1.215 56 2017

7.11 5.94 13 2020


7.18 6.06 10 2020

7.32 6.68 12 2020

7.39 6.20 5 2020

6.67 6.06 17 2020

6.42 6.06 20 2020

7.94 7.21 14 2020

5.85 5.23 19 2020

7.52 6.94 17 2020

6.52 6.00 16 2020

7.33 5.99 7 2020

43.05 30.34 2 2018

44.00 21.43 2 2016

- 40.52

- 12.09


7.51 6.44 13 2020

7.34 6.35 20 2020

7.97 6.86 9 2020

8.30 6.70 1 2020

6.91 5.90 10 2020

3.3.18 · M&A ActivityDeals per listed company (average 2016-2018)

3.3.19 · Corporate debtCorporate debt does not restrain the ability of enterprises to compete

3.4 · Management Practices

3.5 · Attitudes and Values

Venture capital is easily available for business

Credit is easily available for business

3.3.17 · Venture capital

3.4.13 · Fear of failure rate% indicating that fear of failure would prevent them from setting up a business

3.4.14 · Total early-stage Entrepreneurial Activity% who are either a nascent entrepreneur or owner-manager of a new business

3.3.15 · Initial Public Offerings

3.3.16 · CreditBy acquiror nation (average 2017-2019) US$ millions

3.3.11 · Value traded on stock marketsUS$ per capita

3.4.12 · Women on boardsBoardmembers of all companies analyzed by MSCI

3.3.13 · Stock market indexPercentage change on index in national currency

3.3.14 · Shareholders' rightsShareholders' rights are sufficiently implemented

Number of listed domestic companies

3.4.09 · EntrepreneurshipEntrepreneurship of managers is widespread in business

3.4.10 · Social responsibilitySocial responsibility of business leaders is high

3.4.11 · Women in managementFemale share of senior and middle management (% of management)

3.3.12 · Listed domestic companies

Auditing and accounting practices are adequately implemented in business

3.4.05 · Corporate boardsCorporate boards do supervise the management of companies effectively

3.4.06 · Auditing and accounting practices

3.4.07 · Use of big data and analyticsCompanies are very good at using big data and analytics to support decision-making

3.4.08 · Customer satisfactionCustomer satisfaction is emphasized in companies

3.4.04 · Credibility of managersCredibility of managers in society is strong

3.4.03 · Opportunities and threatsCompanies are very good at responding quickly to opportunities and threats

3.4.01 · Agility of companiesCompanies are agile

3.4.02 · Changing market conditionsCompanies are generally extremely aware of changing market conditions

3.5.05 · Need for economic and social reformsThe need for economic and social reforms is generally well understood

3.5.04 · Flexibility and adaptabilityFlexibility and adaptability of people are high when faced with new challenges

3.5.02 · Image abroad or brandingThe image abroad of your country encourages business development

3.5.03 · National cultureThe national culture is open to foreign ideas

Attitudes toward globalization are generally positive in your society

3.5.01 · Attitudes toward globalization

7.39 5.81 1 2020

7.12 6.24 15 20203.5.07 · Value systemThe value system in your society supports competitiveness

3.5.06 · Digital transformation in companiesDigital transformation in companies is generally well implemented


103 1,478 38 2019

3,576 3,100 18 2017

507,463 18,937 1 2017

9.94 8.04 1 2020

6.94 6.69 29 2020

0.36 84.31 63 2019

2.45 0.66 1 2019

34.9 33.3 2019

15.2 14.6 2019

19.7 18.7 2019

53.6 50.6 37 2019

0.13 1.25 49 2017

0.000 0.047 61 2018

7,820 65,815 47 2018

8.49 7.27 16 2020

8.61 7.29 14 2020

9.27 7.31 6 2020

4.79 182.58 54 2017

87.6 106.9 21 2017

2.97 127.73 3 2017

8.78 2.47 63 2017

0.023 0.103 2 2019


0.36 0.40 31 2019

89.1 79.5 25 2018

38.9 16.4 60 2017

4.1 · Basic Infrastructure

4.2 · Technological Infrastructure

4.1.01 · Land areaSquare kilometers ('000)

4.1.03 · Water resourcesTotal internal renewable per capita in cubic meters

4.1.05 · Management of citiesManagement of cities supports business development

4.1.07 · Population - growthPercentage change


ICELAND4 · Infrastructure

4.1.02 · Arable areaSquare meters per capita

4.1.04 · Access to waterAccess to water is adequately ensured and managed

4.1.06 · Population - market sizeEstimates in millions

4.1.19 · Total final energy consumption per capitaMTOE per capita

4.1.20 · Electricity costs for industrial clientsUS$ per kwh

4.1.18 · Total final energy consumptionMillions MTOE

4.1.16 · Total indigenous energy productionMillions MTOE

4.1.17 · Total indigenous energy production (%)Percentage of total requirements in tons of oil equivalent

4.1.13 · Quality of air transportationQuality of air transportation encourages business development

4.1.14 · Distribution infrastructureThe distribution infrastructure of goods and services is generally efficient

4.1.12 · Air transportationNumber of passengers carried by main companies, thousands

4.1.15 · Energy infrastructureEnergy infrastructure is adequate and efficient

4.1.11 · RailroadsDensity of the network, km per square km

4.1.09 · Dependency ratioPopulation under 15 and over 64 years old, divided by active population (15 to 64 years)

4.1.10 · RoadsDensity of the network, km roads/square km land area

Population under 15 yearsPercentage of total population

4.1.08 · Dependent PopulationPercentage of total population

Population over 65 yearsPercentage of total population

4.2.02 · Mobile Broadband subscribers3G & 4G market, % of mobile market

4.2.03 · Mobile Telephone costsMonthly Blended Average Revenue per User

4.2.01 · Investment in TelecommunicationsPercentage of GDP

9.42 7.81 4 2020

0.01 1.35 63 2017

1,002 713 16 2017

879 735 10 2017

582 379 11 2018

22.1 35.5 45 2019

8.88 7.03 1 2020

8.45 6.68 1 2020

5.85 6.03 38 2020

7.54 6.51 15 2020

6.34 5.92 26 2020

143 46,922 59 2018

23.47 16.57 10 2018

4.8 9.5 42 2017

6.58 5.93 23 2020


525 28,135 50 2018

2.04 1.50 17 2018

1,507.8 612.0 9 2018

338 20,750 49 2018

1.31 1.00 17 2018

3.2 215.6 57 2017

9.37 4.84 5 2017

1.8 161.6 54 2017

5.32 3.00 11 2017

6.1 3.3 8 2017

41.93 36.69 14 2016

629 37,259 62 2017

0 9 29 2019

0.00 0.19 29 2019

4.3 · Scientific Infrastructure

4.2.17 · ICT service exportsPercentage of service exports

4.2.18 · Cyber securityCyber security is being adequately addressed by corporations

4.2.16 · High-tech exports (%)Percentage of manufactured exports

4.2.14 · Funding for technological developmentFunding for technological development is readily available

4.2.15 · High-tech exports ($)US$ millions

Development and application of technology are supported by the legal environment

4.2.11 · Qualified engineersQualified engineers are available in your labor market

4.2.12 · Public-private partnershipsPublic and private sector ventures are supporting technological development

4.3.14 · Nobel prizes per capitaAwarded in physics, chemistry, physiology or medicine and economics since 1950 per million people

4.2.10 · Digital/Technological skillsDigital/Technological skills are readily available

4.2.13 · Development and application of technology

4.2.09 · Internet bandwidth speedAverage speed

4.3.13 · Nobel prizesAwarded in physics, chemistry, physiology or medicine and economics since 1950

Scientific articles published by origin of author

4.2.07 · Internet usersNumber of internet users per 1000 people/ Source: Computer Industry Almanac

4.2.08 · Broadband subscribersNumber of subscriptions per 1000 inhabitants

4.3.11 · Science degreesPercentage of total first university degrees in science and engineering

4.3.12 · Scientific articles

4.2.06 · Computers per capitaNumber of computers per 1000 people/ Source: Computer Industry Almanac

4.3.10 · Researchers in R&D per capitaFull-time work equivalent (FTE) per 1000 people

4.3.09 · Total R&D personnel in business per capitaFull-time work equivalent (FTE) per 1000 people

4.2.04 · Communications technologyCommunications technology (voice and data) meets business requirements

4.2.05 · Computers in useWorldwide share/ Source: Computer Industry Almanac

4.3.08 · Total R&D personnel in business enterpriseFull-time work equivalent (FTE thousands)

4.3.07 · Total R&D personnel per capitaFull-time work equivalent (FTE) per 1000 people

4.3.06 · Total R&D personnelFull-time work equivalent (FTE thousands)

Percentage of GDP

4.3.04 · Business expenditure on R&D ($)US$ millions

4.3.05 · Business expenditure on R&D (%)

4.3.03 · Total expenditure on R&D per capita ($)US$ per capita

4.3.02 · Total expenditure on R&D (%)Percentage of GDP

4.3.01 · Total expenditure on R&D ($)US$ millions

281 54,510 54 2018

80.64 83.39 21 2018

173 23,517 53 2018

435.6 395.5 18 2018

13.90 38.25 61 2017

6.79 5.91 23 2020

7.79 6.59 18 2020

6.45 5.47 20 2020


8.3 7.4 23 2017

6,026 2,468 4 2017

81.83 64.26 7 2017

7.64 5.97 17 2020

84 77 10 2017

82.9 78.5 8 2018

73.5 69.6 8 2019

2.0 7.8 3 2018

6 2019

71.56 278.38 2019

261.15 479.32 2019

94 76 2019

0.938 0.854 6 2018

121 119 41 2017

- 77.2

81.14 38.66 43 2014

2.2 454.9 1 2017

88.7 408.5 4 2017

6.78 20.18 5 2017

87.9 15.9 1 2017

14.8 1.3 2 2016

4.4 · Health and Environment

4.3.22 · Knowledge transferKnowledge transfer is highly developed between companies and universities

4.3.21 · Intellectual property rightsIntellectual property rights are adequately enforced

4.3.20 · Scientific research legislationLaws relating to scientific research do encourage innovation

4.3.17 · Patent grantsNumber of patents granted by applicant's origin (average 2016-2018)

4.3.19 · Medium- and high-tech value addedProportion of total manufacturing value added, expressed as a percentage

4.3.18 · Number of patents in forceby applicant's origin, per 100,000 inhabitants

4.3.15 · Patent applicationsNumber of applications filed by applicant's origin

4.3.16 · Patent applications per capitaNumber of applications filed by applicant's origin, per 100,000 inhabitants

4.4.17 · Exposure to particle pollutionMean population exposure to PM2.5, Micrograms per cubic metre

4.4.18 · Renewable energies (%)Share of renewables in total energy requirements, %

4.4.12 · Energy intensityTotal energy consumed for each 1000 US$ of GDP in MTOE

4.4.13 · Waste water treatment plants

4.4.15 · CO2 emissionsMetric tons of carbon dioxide from fuel combustion

Percentage of population served

Number of inhabitants per physician and per nurse

Average estimate

4.4.07 · Healthy life expectancyAverage estimate

4.4.08 · Infant mortality

4.4.16 · CO2 emissions intensityCO2 emissions from fuel combustion in metric tons per one million US$ of GDP

4.4.03 · Public expenditure on health (%)Percentage of total health expenditure

4.4.09 · Medical assistanceNumber of inhabitants per physician and per nurse

Medical assistance / Per nurse

4.4.10 · Urban populationPercentage of total population

4.4.11 · Human development index

4.4.04 · Health infrastructureHealth infrastructure meets the needs of society

4.4.19 · Forest area growthFive year percentage change of hectares

4.4.05 · Universal health care coverage indexIndex (0-100) measuring coverage of essential health services

4.4.06 · Life expectancy at birth

4.4.02 · Total health expenditure per capitaUS$ per capita

4.4.01 · Total health expenditurePercentage of GDP

4.4.14 · Water consumption intensityWater withdrawal for each 1000 US$ of GDP in cubic meters

Combines economic - social - educational indicators/ Source: Human Development Report

Medical assistance / Per physicianNumber of inhabitants per physician and per nurse

Under five mortality rate per 1000 live births

- 3.50

- 4.9

- -1.39

0.02 1.60 49 2016

55.56 83.39 57 2015

7.42 6.26 10 2020

8.39 5.79 4 2020

7.32 6.24 11 2020

9.61 6.83 4 2020


7.4 4.6 2 2018

5,443 1,518 1 2018

19.0 21.5 41 2017

17,422 6,363 3 2017

11.07 16.20 8 2017

10.10 13.57 16 2017

89.8 89.8 41 2017

47.0 42.8 24 2018

52.8 39.7 9 2018

3.64 3.32 23 2017

7.80 2.47 3 2017

481 471 29 2018

495 472 2018

474 468 2018

475 472 2018

65.0 58.6 30 2018

94 89 17 2018

7.97 6.17 10 2020

8.12 6.40 8 2020

8.06 6.45 5 2020

4.5 · Education

4.5.17 · Management educationManagement education meets the needs of the business community

4.5.16 · University educationUniversity education meets the needs of a competitive economy

4.5.15 · Primary and secondary educationPrimary and secondary education meets the needs of a competitive economy

4.5.10 · Student mobility inbound

4.5.14 · English proficiency - TOEFLTOEFL scores

Foreign tertiary-level students per 1000 inhabitants

4.5.12 · Educational assessment - PISA

4.5.13 · Students who are not low achievers - PISA% of students who are not low achievers in maths, sciences and reading

PISA survey of 15-year olds

Educational assessment - PISA / SciencesPISA survey of 15-year olds

Educational assessment - PISA / ReadingPISA survey of 15-year olds

Educational assessment - PISA / MathematicsPISA survey of 15-year olds

4.5.05 · Pupil-teacher ratio (primary education)Ratio of students to teaching staff

4.5.11 · Student mobility outboundNational tertiary-level students studying abroad per 1000 inhabitants

4.5.09 · Women with degreesShare of women who have a degree in the population 25-65

4.4.27 · Environmental lawsEnvironmental laws and compliance do not hinder the competitiveness of businesses

4.4.28 · Quality of lifeQuality of life is high

4.5.08 · Higher education achievementPercentage of population that has attained at least tertiary education for persons 25-34

4.5.07 · Secondary school enrollmentPercentage of relevant age group receiving full-time education

4.4.25 · Sustainable developmentSustainable development is a priority in companies

4.4.26 · Pollution problemsPollution problems do not seriously affect your economy

4.5.06 · Pupil-teacher ratio (secondary education)Ratio of students to teaching staff

4.4.23 · Environment-related technologiesDevelopment of environment-related technologies, % inventions worldwide

4.4.24 · Environmental agreementsMultilateral agreements on hazardous waste, proportion fulfilled

4.5.04 · Total public exp. on education per studentSpending per enrolled pupil/student, all levels

4.4.22 · Ecological balance (reserve/deficit)Total biocapacity minus total footprint in global hectares per capita

4.5.03 · Gov. expenditure on education per studentPercentage of GDP per capita (secondary education)

4.5.02 · Total public expenditure on education per capitaUS$ per capita

4.4.21 · Ecological footprintGlobal hectares per person

4.5.01 · Total public expenditure on educationPercentage of GDP

4.4.20 · Total biocapacityGlobal hectares per capita of biologically productive space

46.86 15.22 3 2019

1.0 2.6 1 2016

8.83 6.39 3 20204.5.20 · Language skillsLanguage skills are meeting the needs of enterprises

4.5.19 · IlliteracyAdult (over 15 years) illiteracy rate as a percentage of population

4.5.18 · University education indexCountry score calculated from Times Higher Education univesity ranking

2020

IMD WORLDCOMPETITIVENESSYEARBOOK

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Documents

IMD World Competitiveness Yearbook 2020...IMD World Competitiveness Yearbook 2020 BASIC FACTS Capital Land area (square km '000) 103 2019 Exchange Rate (per $) 122.607 2019 Population