Government at a Glance provides a dashboard of key indicators to help you analyse international comparisons of public sector performance.
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The tax-to-GDP ratio in Iceland decreased by 0.3 percentage points, from 36.7% in 2015 to 36.4% in 2016. The corresponding figures for the OECD average were an increase of 0.3 percentage points from 34.0% to 34.3% over the same period.
These notes present selected country highlights from the OECD Science, Technology and Industry Scoreboard 2017 with a specific focus on digital trends among all themes covered.
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This note presents selected country highlights from the OECD Science, Technology and Industry Scoreboard 2017 with a specific focus on digital trends among all themes covered.
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This note presents selected findings based on the set of well-being indicators published in How's Life? 2017.
Iceland is the OECD’s smallest economy and,currently,the fastest growing. A booming financial services and construction led to a deep financial crisis in 2008. However, Iceland has made a remarkable turnaround, helped by spectacular growth of tourism, prudent economic policies and a favourable external environment.
Iceland is the OECD's fastest growing economy. It has made a remarkable turnaround from the crisis, helped by booming tourism, prudent economic policies and a favourable external environment. Iceland has an egalitarian society with strong trade unions, very low inequality and high gender balance. Nevertheless, as a very small open economy Iceland is prone to boom and bust cycles. Prudent fiscal and monetary policy are warranted in the current economic boom.
The spectacular growth in tourist numbers has provided new jobs, boosted tax revenues and attracted currency inflows, but there are some growing pains with social pressures emerging. Growing tourist numbers are putting pressure on the environment, infrastructure and housing. Furthermore, the strengthening króna has created difficulties for other internationally-exposed sectors.
Iceland is the most highly unionised OECD country and the wage-bargaining system has contributed to high living standards and an inclusive society. Nevertheless, recent disruptive strikes and high wage awards have intensified inflationary pressures and threaten competiveness. Fostering trust among the social partners and increasing wage coordination would make collective bargaining more effective and help sustain the benefits of the system for future generations.
SPECIAL FEATURES: SUSTAINABLE TOURISM; EFFECTIVE LABOUR RELATIONS
This review assesses the performance of Iceland, including looking at how Iceland works in its three partner countries and on key priority issues such as gender, health, education and renewable energy.
Iceland joined the Development Assistance Committee in 2013. This is its first peer review.
The tax burden on labour income is expressed by the tax wedge, which is a measure of the net tax burden on labour income borne by the employee and the employer.
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Iceland had the 23rd lowest tax wedge among the 35 OECD member countries in 2016. The country occupied the same position in 2015. The average single worker in Iceland faced a tax wedge of 34.0% in 2016 compared with the OECD average of 36.0%.