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The economy of Iceland is small and subject to high volatility. In 2011, gross domestic product was US$ 12 billion, but by 2018 it had increased to a nominal GDP of US$ 27 billion. With a population of 387,000, this is $55,000 per capita , based on purchasing power parity (PPP) estimates. [ 18 ]
The Global price level, as reported by the World Bank, is a way to compare the cost of living between different countries. It's measured using Purchasing Power Parities (PPPs), which help us understand how much money is needed to buy the same things in different places. Price level indexes (PLIs), with the world average set at 100, are ...
At the time, a Big Mac in Iceland cost 650 krona ($5.29), and the 20% price increase that would have been needed to stay in business would have increased that cost to 780 krona ($6.36). [31] [32] Fish and lamb are produced in Iceland, while beef is often imported (but also exported).
The supermarket will sell three 800g Aptamil lines for £11.20 from January 16, it confirmed.
As of 2 April 2009, the value hovered around 119 per dollar, roughly maintaining that value over the next two years with 23 March 2011, prices around 114 per dollar. [16] With this, the previously high costs for foreign traders and tourists dropped, which Iceland's trade and tourism industry undertook to exploit. [17]
What items will cost more? What to know about Trump's tariffs on Canada, Mexico, and China. Rachel Barber, USA TODAY. Updated February 4, 2025 at 12:09 PM.