Compare the economies of the countries

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Economy power of Australia & Iceland

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Australia vs Iceland

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Australia Iceland
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Australia is the nation that is at the same time the entire continent. It is the only country that covers the land of the entire continent. The name of the nation came from the latin Terra Australis, which was basically the name for the Southern Earth. At this moment it is one of the largest federations in the world with an official language being English. Interestingly, though the head of the government is Scott Morrison, the head of the nation is Queen Elizabeth II. On her behalf, the nation is run by David Hurley. More about Australia Iceland is located in the North Atlantic Ocean and it is considered to be a Nordic island country. The place is well known for its volcanic and geological activity. It is also the most sparsely populated country in the entire Europe due to very small population and considerably large land area of 102,885 square kilometers. The nation is governed by President Guðni Th. Jóhannesson and Prime Minister Katrín Jakobsdóttir.  More about Iceland

Gross domestic product (GDP, GDP PPP)

Gross domestic product (GDP)

Australia Iceland
Position in the ranking of countries 13 (2023) 101 (2023)
GDP [US$] 1,728,057,316,695 31,325,116,556
Percentage of the other 5516.5 % 1.8 %

Gross domestic product growth rate

Gross domestic product per capita

Gross domestic product (PPP)

Gross domestic product (PPP) per capita

Gross national income (GNI, Inflation)

Gross national income

Australia Iceland
Position in the ranking of countries 14 (2023) 100 (2023)
GNI [US$] 1,653,703,105,439 31,871,436,144
Percentage of the other 5188.7 % 1.9 %

Gross national income per capita

Inflation consumer prices (annual %)

International trade (Export, Import)

External balance on goods and services

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(China)

Australia Iceland
Position in the ranking of countries 10 (2023) 59 (2023)
External balance [US$] 75,573,099,651 154,336,257
Percentage of the other 48966.5 % 0.2 %

External balance on goods and services (% of GDP)

Exports of goods and services (current US$)

Exports of goods and services (% of GDP)

Imports of goods and services (current US$)

Imports of goods and services (% of GDP)

Employment by sector, Unemployment

Unemployment (% of total labor force)

Australia Iceland
Position in the ranking of countries 10 (2023) 59 (2023)
Unemployment [%] 4.07 3.11
Percentage of the other 130.9 % 76.4 %

Employment in agriculture (% of total employment)

Employment in industry (% of total employment)

Employment in services (% of total employment)

Vulnerable employment (% of total employment)

Population (total, growth, density, demgraphy)

Total population

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(India)

Australia Iceland
Position in the ranking of countries 52 (2023) 169 (2023)
Population 26,658,948 393,349
Percentage of the other 6777.4 % 1.5 %

Population growth (annual %)

Density

Gender

Demography