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Iceland Business Guide


Geography


Location:
Northern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the United Kingdom


Geographic coordinates:
65 00 N, 18 00 W


Map references:
Europe


Area:
total:103,000 sq kmcountry comparison to the world: 108
land:100,250 sq km
water:2,750 sq km


Area - comparative:
slightly smaller than Kentucky


Land boundaries:
territorial sea:12 nm
exclusive economic zone:200 nm
continental shelf:200 nm or to the edge of the continental margin


Climate:
temperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers


Terrain:
mostly plateau interspersed with mountain peaks, icefields; coast deeply indented by bays and fiords


Elevation extremes:
lowest point:Atlantic Ocean 0 m
highest point:Hvannadalshnukur 2,110 m (at Vatnajokull glacier)


    Natural resources:
fish, hydropower, geothermal power, diatomite


Land use:
arable land:1.19%
permanent crops:0%
other:98.81% (2011)


Irrigated land:
NA


Total renewable water resources:
170 cu km (2011)


Freshwater withdrawal (domestic/industrial/agricultural):
170 cu km (2011)

Natural hazards:
earthquakes and volcanic activity


Environment - current issues:
water pollution from fertilizer runoff; inadequate wastewater treatment


Environment - international agreements:
party to:Air Pollution, Air Pollution-Persistent Organic Pollutants, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Kyoto Protocol, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Transboundary Air Pollution, Wetlands, Whaling
signed, but not ratified:Environmental Modification, Marine Life Conservation


Geography - note:
strategic location between Greenland and Europe; westernmost European country; Reykjavik is the northernmost national capital in the world; more land covered by glaciers than in all of continental Europe



People and Society


Nationality:
noun: Icelander(s)
adjective:Icelandic


Ethnic groups:
homogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6%


Languages:
Icelandic, English, Nordic languages, German widely spoken


Religions:
Evangelical Lutheran Church of Iceland (official) 76.2%, Roman Catholic 3.4%, Reykjavik Free Church 2.9%, Hafnarfjorour Free Church 1.9%, The Independent Congregation 1%, other religions 3.6% (includes Pentecostal and Asatru Association), none 5.2%, other or unspecified 5.9% (2013 est.)


Population:
317,351 (July 2014 est.)country comparison to the world: 180


Age structure:
0-14 years:19.7% (male 31,660/female 30,720)
15-24 years:14.5% (male 23,116/female 22,742)
25-54 years:40.7% (male 65,218/female 64,102)
55-64 years:11.6% (male 18,644/female 18,225)
65 years and over:13.2% (male 19,754/female 23,170) (2014 est.)


Dependency ratios:
total dependency ratio:50.9 %
youth dependency ratio:31.1 %
elderly dependency ratio:19.7 %
potential support ratio:5.1 (2014 est.)


Median age:
total:36.4 years
male:35.9 years
female:36.9 years (2014 est.)


Population growth rate:
0.65% (2014 est.)country comparison to the world: 149


Birth rate:
13.09 births/1,000 population (2014 est.)country comparison to the world: 153


Death rate:
7.13 deaths/1,000 population (2014 est.)country comparison to the world: 126


Net migration rate:
0.52 migrant(s)/1,000 population (2014 est.)country comparison to the world: 69


Urbanization:
urban population:93.7% of total population (2011)
rate of urbanization:1.27% annual rate of change (2010-15 est.)


Major urban areas - population:
REYKJAVIK (capital) 206,000 (2011)


Sex ratio:
at birth:1.04 male(s)/female
0-14 years:1.03 male(s)/female
15-24 years:1.02 male(s)/female
25-54 years:1.02 male(s)/female
55-64 years:1 male(s)/female
65 years and over:0.85 male(s)/female
total population:1 male(s)/female (2014 est.)


Mother's mean age at first birth:
27 (2011 est.)


Maternal mortality rate:
5 deaths/100,000 live births (2010)


Infant mortality rate:
total:3.15 deaths/1,000 live birthscountry comparison to the world: 215
male:3.3 deaths/1,000 live births
female:3 deaths/1,000 live births (2014 est.)


    Life expectancy at birth:
total population:81.22 yearscountry comparison to the world: 20
male:78.98 years
female:83.54 years (2014 est.)


Total fertility rate:
1.88 children born/woman (2014 est.)country comparison to the world: 143


Health expenditures:
9.1% of GDP (2011)


Physicians density:
3.46 physicians/1,000 population (2011)


Hospital bed density:
5.8 beds/1,000 population (2007)


Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2012 est.)


Sanitation facility access:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2012 est.)


HIV/AIDS - adult prevalence rate:
0.3% (2009 est.)country comparison to the world: 85


HIV/AIDS - people living with HIV/AIDS:
fewer than 1,000 (2009 est.)country comparison to the world: 147


HIV/AIDS - deaths:
fewer than 100 (2009 est.)country comparison to the world: 118


Obesity - adult prevalence rate:
23.2% (2008)country comparison to the world: 76


Education expenditures:
7.6% of GDP (2010)country comparison to the world: 14

Literacy:
definition:age 15 and over can read and write
total population:99%
male:99%
female:99% (2003 est.)


School life expectancy (primary to tertiary education):
total:19 years
male:18 years
female:20 years (2011)


Unemployment, youth ages 15-24:
total:13.6%country comparison to the world: 93
male:14.7%
female:12.4% (2012)


Government


Country name:
conventional long form: Republic of Iceland
conventional short form:Iceland
local long form:Lydveldid Island
local short form:Island


Government type:
constitutional republic


Capital:
name:Reykjavik
geographic coordinates:64 09 N, 21 57 W
time difference:UTC 0 (5 hours ahead of Washington, DC, during Standard Time)


Administrative divisions:
8 regions; Austurland, Hofudhborgarsvaedhi, Nordhurland Eystra, Nordhurland Vestra, Sudhurland, Sudhurnes, Vestfirdhir, Vesturland


Independence:
1 December 1918 (became a sovereign state under the Danish Crown); 17 June 1944 (from Denmark; birthday of Jon SIGURDSSON leader of Iceland's 19th Century independence movement)


National holiday:
Independence Day, 17 June (1944)


Constitution:
several previous; latest ratified 16 June 1944, effective 17 June 1944 (at independence); amended many times, last in 2013; note - a new constitution drafted in 2012 in the aftermath of the country's banking collapse was voted down in April 2013 by the recently elected parliament, though several amendments were passed (2013)


Legal system:
civil law system influenced by the Danish model


International law organization participation:
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction


Suffrage:
18 years of age; universal


Executive branch:
chief of state:President Olafur Ragnar GRIMSSON (since 1 August 1996)
head of government:Prime Minister Sigmundur David GUNNLAUGSSON (since 23 May 2013)
cabinet:Cabinet appointed by the prime minister
elections:president is elected by popular vote for a four-year term (no term limits); election last held on 30 June 2012 (next to be held in June 2016); note - following legislative elections, the leader of the majority party or the leader of the majority coalition is usually the prime minister
election results:Olafur Ragnar GRIMSSON elected president; percent of vote - Olafur Ragnar GRIMSSON 52.8%, Thora ARNORSDOTTIR 33.2%, Ari Trausti GUDMUNDSSON 8.6%, other 5.4%


Legislative branch:
unicameral Althingi (parliament) (63 seats; members elected by popular vote to serve four-year terms)
elections:last held on 27 April 2013 (next to be held in 2017)
election results:percent of vote by party - SDA 30.16%, IP 25.4%, LGM 17.46%, PP 14.29%, Bright Future 3.18%, Dawn 3.18%, Rainbow 3.18%, Pirate Party 1.59%, Solidarity 1.59%; seats by party - SDA 19, IP 16, LGM 11, PP 9, Bright Future 2, Dawn 2, Rainbow 2, Pirate Party 1, Solidarity 1


Judicial branch:
highest court(s):Supreme Court or Haestirettur (consists of 9 judges)
judge selection and term of office:judges proposed by Ministry of Interior selection committee and appointed by the president; judges appointed for an indefinite period
subordinate courts:8 district courts; Labor Court


    Political parties and leaders:
Bright Future (Bjort Framtid) or BF [Gudmundur STEINGRIMSSON]
Dawn (Dogun) [Benedikt SIGURDARSON]
Independence Party (Sjalfstaedisflokkurinn) or IP [Bjarni BENEDIKTSSON]
Left-Green Movement (Vinstrihreyfingin) or LGM [Katrin JAKOBSDOTTIR]
Pirate Party [Birgitta JONSDOTTIR]
Progressive Party (Framsoknarflokkurinn) or PP [Sigmundur David GUNNLAUGSSON]
Rainbow [Atli GISLASON] [Jon BJARNASON]
Social Democratic Alliance (Samfylkingin) or SDA [Arni Pall ARNASON]
Solidarity (Samstada) [Lilja MOSESDOTTIR]


International organization participation:
Arctic Council, Australia Group, BIS, CBSS, CD, CE, EAPC, EBRD, EFTA, EU (candidate country), FAO, FATF, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NATO, NC, NEA, NIB, NSG, OAS (observer), OECD, OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UPU, WCO, WHO, WIPO, WMO, WTO


Diplomatic representation in the US:
chief of mission:Ambassador Gudmundur A. STEFANSSON (since 12 October 2011)
chancery:House of Sweden, 2900 K Street NW #509, Washington, DC 20007
telephone:[1] (202) 265-6653
FAX:[1] (202) 265-6656
consulate(s) general:New York


Diplomatic representation from the US:
chief of mission:Ambassador (vacant); Charge d'Affaires Paul O'Friel (since 24 November 2013)
embassy:Laufasvegur 21, 101 Reykjavik
mailing address:US Department of State, 5640 Reykjavik Place, Washington, D.C. 20521-5640
telephone:[354] 595-22 00
FAX:[354] 562-9118


Flag description:
blue with a red cross outlined in white extending to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the Dannebrog (Danish flag); the colors represent three of the elements that make up the island: red is for the island's volcanic fires, white recalls the snow and ice fields of the island, and blue is for the surrounding ocean


National symbol(s):
gyrfalcon


National anthem:
name:'Lofsongur' (Song of Praise)

lyrics/music:Matthias JOCHUMSSON/Sveinbjorn SVEINBJORNSSON
note:adopted 1944; the anthem, also known as 'O, Gud vors lands' (O, God of Our Land), was originally written and performed in 1874


Economy


Economy - overview:
Iceland's Scandinavian-type social-market economy combines a capitalist structure and free-market principles with an extensive welfare system. Prior to the 2008 crisis, Iceland had achieved high growth, low unemployment, and a remarkably even distribution of income. The economy depends heavily on the fishing industry, which provides 40% of export earnings, more than 12% of GDP, and employs nearly 5% of the work force. It remains sensitive to declining fish stocks as well as to fluctuations in world prices for its main exports: fish and fish products, aluminum, and ferrosilicon. Iceland's economy has been diversifying into manufacturing and service industries in the last decade, particularly within the fields of software production, biotechnology, and tourism. In fall 2013, the Icelandic government approved a joint application by Icelandic, Chinese and Norwegian energy firms to conduct oil exploration off IcelandÔÇÖs northeast coast. Abundant geothermal and hydropower sources have attracted substantial foreign investment in the aluminum sector, boosted economic growth, and sparked some interest from high-tech firms looking to establish data centers using cheap green energy, although the financial crisis has put several investment projects on hold. Much of Iceland's economic growth in recent years came as the result of a boom in domestic demand following the rapid expansion of the country's financial sector. Domestic banks expanded aggressively in foreign markets, and consumers and businesses borrowed heavily in foreign currencies, following the privatization of the banking sector in the early 2000s. Worsening global financial conditions throughout 2008 resulted in a sharp depreciation of the krona vis-a-vis other major currencies. The foreign exposure of Icelandic banks, whose loans and other assets totaled more than 10 times the country's GDP, became unsustainable. Iceland's three largest banks collapsed in late 2008. The country secured over $10 billion in loans from the IMF and other countries to stabilize its currency and financial sector, and to back government guarantees for foreign deposits in Icelandic banks. GDP fell 6.8% in 2009, and unemployment peaked at 9.4% in February 2009. Since the collapse of Iceland's financial sector, government economic priorities have included: stabilizing the krona, implementing capital controls, reducing Iceland's high budget deficit, containing inflation, addressing high household debt, restructuring the financial sector, and diversifying the economy. Three new banks were established to take over the domestic assets of the collapsed banks. Two of them have foreign majority ownership, while the State holds a majority of the shares of the third. Iceland began making payments to the UK, the Netherlands, and other claimants in late 2011 following Iceland's Supreme Court ruling that upheld 2008 emergency legislation that gives priority to depositors for compensation from failed Icelandic banks. Iceland owes British and Dutch authorities approximately $5.5 billion for compensating British and Dutch citizens who lost deposits in Icesave when parent bank Landsbanki failed in 2008. Iceland began accession negotiations with the EU in July 2010, but decided in mid-2013 to suspend negotiations with the EU because of concern about losing control over fishing resources and worries over the ongoing Eurozone crisis.


GDP (purchasing power parity):
$13.11 billion (2013 est.)
country comparison to the world: 150
$12.87 billion (2012 est.)
$12.66 billion (2011 est.)
note:data are in 2013 US dollars


GDP (official exchange rate):
$14.59 billion (2013 est.)


GDP - real growth rate:
1.9% (2013 est.)
country comparison to the world: 148
1.6% (2012 est.)
2.9% (2011 est.)


GDP - per capita (PPP):
$40,700 (2013 est.)
country comparison to the world: 27
$40,300 (2012 est.)
$39,800 (2011 est.)
note:data are in 2013 US dollars


Gross national saving:
15.4% of GDP (2013 est.)
country comparison to the world: 107
9.3% of GDP (2012 est.)
8.1% of GDP (2011 est.)


GDP - composition, by end use:
household consumption:53.3%
government consumption:24.9%
investment in fixed capital:13.8%
investment in inventories:2%
exports of goods and services:56.4%
imports of goods and services:-50.4%
(2013 est.)


GDP - composition, by sector of origin:
agriculture:5.9%
industry:22.9%
services:71.2% (2013 est.)


Agriculture - products:
potatoes, green vegetables; mutton, chicken, pork, beef, dairy products; fish


Industries:
fish processing; aluminum smelting, ferrosilicon production; geothermal power, hydropower, tourism


Industrial production growth rate:
-1% (2013 est.)
country comparison to the world: 178

Labor force:
181,100 (2013 est.)
country comparison to the world: 175


Labor force - by occupation:
agriculture:4.8%
industry:22.2%
services:73% (2008)


    Unemployment rate:
4.5% (2013 est.)
country comparison to the world: 42
5.8% (2012 est.)


Population below poverty line:
NA%


Household income or consumption by percentage share:
lowest 10%:NA%
highest 10%:NA%


Distribution of family income - Gini index:
28 (2006)
country comparison to the world: 126
25 (2005)


Budget:
revenues:$6.231 billion
expenditures:$6.448 billion (2013 est.)


Taxes and other revenues:
42.7% of GDP (2013 est.)
country comparison to the world: 27

Budget surplus (+) or deficit (-):
-1.5% of GDP (2013 est.)
country comparison to the world: 71


Public debt:
130.5% of GDP (2013 est.)
country comparison to the world: 5
131.8% of GDP (2012 est.)


Fiscal year:
calendar year


Inflation rate (consumer prices):
3.9% (2013 est.)
country comparison to the world: 133
$NA (2012 est.)


Central bank discount rate:
5.4% (31 January 2012 est.)
country comparison to the world: 62
5.75% (31 December 2010 est.)


Commercial bank prime lending rate:
9.3% (31 December 2013 est.)
country comparison to the world: 108
8.33% (31 December 2012 est.)


Stock of narrow money:
$3.876 billion (31 December 2013 est.)
country comparison to the world: 108
$3.562 billion (31 December 2012 est.)


Stock of broad money:
$7.152 billion (31 December 2012 est.)
country comparison to the world: 115
$7.006 billion (31 December 2012 est.)


Stock of domestic credit:
$19.35 billion (31 December 2013 est.)
country comparison to the world: 81
$18.96 billion (31 December 2012 est.)


Market value of publicly traded shares:
$2.825 billion (31 December 2012 est.)


Current account balance:
-$100 million (2013 est.)
country comparison to the world: 75
-$740 million (2012 est.)


Exports:
$5.2 billion (2013 est.)
country comparison to the world: 113
$5.06 billion (2012 est.)


Exports - commodities:
fish and fish products 40%, aluminum, animal products, ferrosilicon, diatomite


Exports - partners:
Netherlands 30%, Germany 12.9%, UK 9.8%, Norway 5.1%, US 4.5%, France 4.4% (2012)


Imports:
$4.526 billion (2013 est.)
country comparison to the world: 136
$4.441 billion (2012 est.)


Imports - commodities:
machinery and equipment, petroleum products, foodstuffs, textiles


Imports - partners:
Norway 16.6%, US 10.2%, Germany 9.2%, China 7.2%, Brazil 6.7%, Netherlands 6%, Denmark 5.7%, UK 4.6% (2012)


Reserves of foreign exchange and gold:
$5.604 billion (31 December 2013 est.)
country comparison to the world: 90
$4.192 billion (31 December 2012 est.)


Debt - external:
$102 billion (31 December 2012 est.)
country comparison to the world: 47
$110.8 billion (31 December 2011 est.)


Stock of direct foreign investment - at home:
$NA
$9.2 billion (31 December 2008)


Stock of direct foreign investment - abroad:
$NA
$8.8 billion (31 December 2008)


Exchange rates:
Icelandic kronur (ISK) per US dollar -
123.7 (2013 est.)
125.08 (2012 est.)
122.24 (2010 est.)
123.64 (2009)
85.619 (2008)


Energy


Electricity - production:
17.08 billion kWh (2011 est.)
country comparison to the world: 79


Electricity - consumption:
16.23 billion kWh (2010 est.)
country comparison to the world: 76


Electricity - exports:
0 kWh (2012 est.)
country comparison to the world: 149


Electricity - imports:
0 kWh (2012 est.)
country comparison to the world: 156


Electricity - installed generating capacity:
2.579 million kW (2010 est.)
country comparison to the world: 96


Electricity - from fossil fuels:
4.7% of total installed capacity (2010 est.)
country comparison to the world: 199


Electricity - from nuclear fuels:
0% of total installed capacity (2010 est.)
country comparison to the world: 107


Electricity - from hydroelectric plants:
73% of total installed capacity (2010 est.)
country comparison to the world: 19


Electricity - from other renewable sources:
22.3% of total installed capacity (2010 est.)
country comparison to the world: 7


Crude oil - production:
0 bbl/day (2012 est.)
country comparison to the world: 181


Crude oil - exports:
0 bbl/day (2010 est.)
country comparison to the world: 129


Crude oil - imports:
0 bbl/day (2010 est.)
country comparison to the world: 201


    Crude oil - proved reserves:
0 bbl (1 January 2013 est.)
country comparison to the world: 146


Refined petroleum products - production:
0 bbl/day (2010 est.)
country comparison to the world: 157


Refined petroleum products - consumption:
20,770 bbl/day (2011 est.)
country comparison to the world: 126


Refined petroleum products - exports:
1,420 bbl/day (2010 est.)
country comparison to the world: 103


Refined petroleum products - imports:
14,160 bbl/day (2010 est.)
country comparison to the world: 123


Natural gas - production:
0 cu m (2011 est.)
country comparison to the world: 145


Natural gas - consumption:
0 cu m (2010 est.)
country comparison to the world: 158


Natural gas - exports:
0 cu m (2011 est.)
country comparison to the world: 118


Natural gas - imports:
0 cu m (2011 est.)
country comparison to the world: 206


Natural gas - proved reserves:
0 cu m (1 January 2013 est.)
country comparison to the world: 151


Carbon dioxide emissions from consumption of energy:
3.809 million Mt (2011 est.)



Communications


Telephones - main lines in use:
189,000 (2012)
country comparison to the world: 128


Telephones - mobile cellular:
346,000 (2012)
country comparison to the world: 173


Telephone system:
general assessment:telecommunications infrastructure is modern and fully digitized, with satellite-earth stations, fiber-optic cables, and an extensive broadband network
domestic:liberalization of the telecommunications sector beginning in the late 1990s has led to increased competition especially in the mobile services segment of the market
international:country code - 354; the CANTAT-3 and FARICE-1 submarine cable systems provide connectivity to Canada, the Faroe Islands, UK, Denmark, and Germany; a planned new section of the Hibernia-Atlantic submarine cable will provide additional connectivity to Canada, US, and Ireland; satellite earth stations - 2 Intelsat (Atlantic Ocean), 1 Inmarsat (Atlantic and Indian Ocean regions); note - Iceland shares the Inmarsat earth station with the other Nordic countries (Denmark, Finland, Norway, and Sweden) (2011)



    Broadcast media:
state-owned public TV broadcaster operates 1 TV channel nationally; several privately owned TV stations broadcast nationally and roughly another half-dozen operate locally; about one-half the households utilize multi-channel cable or satellite TV services; state-owned public radio broadcaster operates 2 national networks and 4 regional stations; 2 privately owned radio stations operate nationally and another 15 provide more limited coverage (2007)


Internet country code:
.is


Internet hosts:
369,969 (2012)
country comparison to the world: 56


Internet users:
301,600 (2009)
country comparison to the world: 129



Transportation


Airports
96 (2013)
country comparison to the world: 59


Airports - with paved runways
total:7
over 3,047 m:1
1,524 to 2,437 m:3
914 to 1,523 m:3 (2013)


Airports - with unpaved runways
total:89
1,524 to 2,437 m:3
914 to 1,523 m:26
under 914 m:
60 (2013)


Roadways
total:12,890 kmcountry comparison to the world: 126
paved/oiled gravel:4,782 km (does not include urban roads)
unpaved:8,108 km (2012)


    Merchant marine
total:2country comparison to the world: 144
by type:passenger/cargo 2
registered in other countries:19 (Antigua and Barbuda 10, Belize 1, Faroe Islands 4, Finland 1, Gibraltar 1, Norway 2) (2010)



Ports and terminals
major seaport(s):Grundartangi, Hafnarfjordur, Reykjavik


Military


Military branches
no regular military forces; Icelandic National Police; Icelandic Coast Guard (2013)


Manpower available for military service
males age 16-49:75,337 (2010 est.)

Manpower fit for military service
males age 16-49:62,781
females age 16-49:61,511 (2010 est.)


Manpower reaching militarily significant age annually
male:2,277
female:2,200 (2010 est.)


    Military expenditures
0.13% of GDP (2012)
country comparison to the world: 131
0.14% of GDP (2011)
0.13% of GDP (2010)


Military - note
Iceland has no standing military force; all US military forces in Iceland were withdrawn as of October 2006; defense of Iceland remains a NATO commitment and NATO maintains an air policing presence in Icelandic airspace; Iceland participates in international peacekeeping missions with the civilian-manned Icelandic Crisis Response Unit (ICRU) (2011)


Transnational Issues


Disputes - international
Iceland, the UK, and Ireland dispute Denmark's claim that the Faroe Islands' continental shelf extends beyond 200 nm; the European Free Trade Association Surveillance Authority filed a suit against Iceland, claiming the country violated the European Economic Area agreement in failing to pay minimum compensation to Icesave depositors


    Refugees and internally displaced persons
stateless persons:119 (2012)


Information provided by CIA - The World Fact Book



Doing Business in Iceland 2017


           
 

 
Iceland

  Ease of Doing Business Rank
Overall DTF
20
78.91
 
 
Starting a Business (rank)
34
 
 
Protecting Minority Investors (rank)
22
 
  DTF
92.64
 
  DTF
70.00
 
  Procedures - Men (number)
5.0
 
  Strength of minority investor protection index (0-10)
7.0
 
  Time - Men (number)
3.5
 
  Extent of conflict of interest regulation index (0-10)
6.7
 
  Cost - Men (days)
2.0
 
  Extent of disclosure index (0-10)
7.0
 
  Procedures - Women (days)
5.0
 
  Extent of director liability index (0-10)
5.0
 
  Time - Women (% of income per capita)
3.5
 
  Ease of shareholder suits index (0-10)
8.0
 
  Cost - Women (% of income per capita)
2.0
 
  Extent of shareholder governance index (0-10)
7.3
 
  Paid-in min. capital (% of income per capita)
7.6
 
  Extent of shareholder rights index (0-10)
8.0
 
 

 
  Extent of ownership and control index (0-10)
7.0
 
  Dealing with Construction Permits (rank)
70
 
  Extent of corporate transparency index (0-10)
7.0
 
  DTF
71.66
 
 

 
  Procedures (number)
17.0
 
  Paying Taxes (rank)
29
 
  Time (days)
84.0
 
  DTF
84.88
 
  Cost (% of warehouse value)
0.4
 
  Payments (number per year)
21.0
 
  Building Quality Control Index(0-15)
8.0
 
  Time (hours per year)
140.0
 
  Quality of building regulations index (0-2)
2.0
 
  Total tax rate (% of profit)
30.1
 
  Quality control before construction index (0-1)
1.0
 
  Profit tax (% of profit)
8.9
 
  Quality control during construction index (0-3)
2.0
 
  Labor tax and contributions (% of profit)
18.3
 
  Quality control after construction index (0-3)
3.0
 
  Other taxes (% of profit)
2.8
 
  Liability and insurance regimes index (0-2)
0.0
 
  Postfiling index (0-100)
89.2
 
  Professional certifications index (0-4)
0.0
 
 
 
 
   
 
 
  Trading Across Borders (rank)
66
 
  Getting Electricity (rank)
9
 
  DTF
80.27
 
  DTF
92.24
 
  Time to export: Border compliance (hours)
36
 
  Procedures (number)
4.0
 
  Cost to export: Border compliance (USD)
655
 
  Time (days)
22.0
 
  Time to export: Documentary compliance (hours)
2
 
  Cost (% of income per capita)
10.6
 
  Cost to export: Documentary compliance (hours) (USD)
40
 
  Reliability of supply and transparency of tariff index (0-8)
7.0
 
  Time to import: Border compliance (hours)
24
 
  Total duration and frequency of outages per customer a year (0-3)
3.0
 
  Cost to import: Border compliance (USD)
655
 
  Mechanisms for monitoring outages (0-1)
1.0
 
  Time to import: Documentary compliance (hours)
3
 
  Mechanisms for restoring service (0-1)
1.0
 
  Cost to import: Documentary compliance (USD)
0
 
  Regulatory monitoring (0-1)
1.0
 
   
 
 
  Financial deterrents aimed at limiting outages (0-1)
0.0
 
  Enforcing Contracts (rank)
32
 
  Communication of tariffs and tariff changes (0-1)
1.0
 
  DTF
69.10
 
  Price of electricity (US cents per kWh)
8.8
 
  Time (days)
417.0
 
   
 
 
  Cost (% of claim)
9.0
 
  Registering Property (rank)
15
 
  Quality of judicial processes index (0-18)
7.5
 
  DTF
86.61
 
   
 
 
  Procedures (number)
3.0
 
  Resolving Insolvency (rank)
14
 
  Time (days)
3.5
 
  DTF
81.70
 
  Cost (% of property value)
3.6
 
  Recovery rate (cents on the dollar)
85.0
 
  Quality of the land administration index (0-30)
26.5
 
  Time (years)
1.0
 
  Reliability of infrastructure index (0-8)
7.0
 
  Cost (% of estate)
3.5
 
  Transparency of information index (0-6)
4.0
 
  Outcome (0 as piecemeal sale and 1 as going concern)
1
 
  Geographic coverage index (0-8)
8.0
 
  Strength of insolvency framework index (0-16)
11.5
 
  Land dispute resolution index (0-8)
7.5
 
  Commencement of proceedings index (0-3)
2.5
 
  Equal access to property rights index (-2-0)
0.0
 
  Management of debtor's assets index (0-6)
6.0
 
 
 
 
  Reorganization proceedings index (0-3)
1.0
 
  Getting Credit (rank)
62
 
  Creditor participation index (0-4)
2.0
 
  DTF
60.00
 
   
 
 
  Strength of legal rights index (0-12)
5.0
 
   
 
 
  Depth of credit information index (0-8)
7.0
 
 
 
 
  Credit registry coverage (% of adults)
0.0
 
   
 
 
  Credit bureau coverage (% of adults)
100.0
 
 
 
 
 

 
   
 
 
 
 
 
 



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