Iceland is the 26 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum.

Competitiveness Rank in Iceland averaged 26.46 from 2007 until 2019, reaching an all time high of 31 in 2011 and a record low of 20 in 2007. This page provides the latest reported value for - Iceland Competitiveness Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Iceland Competitiveness Rank - values, historical data and charts - was last updated on July of 2020. source: World Economic Forum

Competitiveness Rank in Iceland is expected to reach 24.00 by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Competitiveness Rank is projected to trend around 24.00 in 2021, according to our econometric models.

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Iceland Competitiveness Rank

Actual Previous Highest Lowest Dates Unit Frequency
26.00 24.00 31.00 20.00 2007 - 2019 Yearly

Iceland Business Last Previous Highest Lowest Unit
Changes in Inventories -1420.00 -5984.00 19361.00 -11152.00 ISK Million [+]
Car Registrations 1086.00 787.00 5005.00 77.00 [+]
Internet Speed 16496.34 17443.89 17458.80 3378.59 KBps [+]
IP Addresses 152051.00 145358.00 189992.00 106996.00 IP [+]
Bankruptcies 119.00 120.00 214.00 6.00 Companies [+]
Competitiveness Index 74.72 74.51 74.72 4.66 Points [+]
Competitiveness Rank 26.00 24.00 31.00 20.00 [+]
Ease of Doing Business 26.00 21.00 26.00 9.00 [+]
Corruption Index 78.00 76.00 97.00 76.00 Points [+]
Corruption Rank 11.00 14.00 14.00 1.00 [+]


Iceland Competitiveness Rank
The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. In 2018, the World Economic Forum introduced a new methodology emphasizing the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. The report is made up of 98 variables organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability.