Iceland ranks 11th on Transparency International’s Corruption Perception Index 2012, up from 13th place in 2011.
Iceland’s Nordic neighbors Denmark and Finland rank in first place along with New Zealand. Sweden is in fourth place and Norway in seventh.
The index ranks countries and territories on how corrupt their public sector is perceived to be, assigning a score from 0-100, with 0 for those countries or territories which are perceived to be highly corrupt. The 2012 index includes 176 countries.
Before the banking collapse in Iceland in 2008, the country ranked close to the top; it placed first in 2005 but had dropped to sixth by 2007.
Somalia, North Korea and Afghanistan are ranked at the bottom of the list.
Click here to learn about our custom made photo book Iceland 2012 with the best pictures of the year.