Iceland recorded a Current Account surplus of 11.40 ISK Billion in the first quarter of 2020.

Current Account in Iceland averaged -5.58 ISK Billion from 1978 until 2020, reaching an all time high of 99.98 ISK Billion in the third quarter of 2016 and a record low of -137.24 ISK Billion in the second quarter of 2008. This page provides - Iceland Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Current Account - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.

Current Account in Iceland is expected to be 100.00 ISK Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Iceland to stand at 45.00 in 12 months time. In the long-term, the Iceland Current Account is projected to trend around 15.00 ISK Billion in 2021 and 20.00 ISK Billion in 2022, according to our econometric models.

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Iceland Current Account

Actual Previous Highest Lowest Dates Unit Frequency
11.40 50.90 99.98 -137.24 1978 - 2020 ISK Billion Quarterly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-02 09:00 AM Q2 ISK 11.1B ISK 40.3B
2019-12-02 09:00 AM Q3 ISK 63B ISK 15.01B ISK 55B
2020-03-02 09:00 AM Q4 ISK 51B ISK 63B ISK 10B
2020-05-29 09:00 AM Q1 ISK11.4B ISK 51B ISK 30B
2020-09-01 09:00 AM Q2 ISK11.4B ISK 15B
2020-11-30 09:00 AM Q3 ISK 100B


News Stream
Iceland Current Account Surplus Widens Sharply
The current account surplus in Iceland rose to ISK 51.0 billion in the last quarter of 2019 from ISK 4.9 billion in the corresponding period of the previous year. The services account surplus widened to ISK 55.7 billion from ISK 36.3 billion a year ago while the goods account shortfall fell to ISK 11.8 billion from ISK 37.6 billion. In addition, the secondary income gap narrowed to ISK 2.6 billion from 7.1 billion. In contrast, the primary income surplus decreased to 9.8 billion from 13.3 billion in the corresponding month of 2018.
2020-03-02
Iceland Current Account Surplus Shrinks in Q3
The current account surplus in Iceland narrowed to ISK 63.04 billion in the third quarter of 2019 from ISK 73.75 billion in the corresponding period of the previous year, as the services surplus fell to ISK 101.3 billion from ISK 123.4 billion a year ago. Meanwhile, the goods deficit decreased to ISK 45.85 billion from ISK 47.60 billion while the secondary income shortfall went down to ISK 5.86 billion from ISK 5.93 billion. In addition, the primary income surplus widened sharply to ISK 13.43 billion from ISK 0.39 billion in the same period of 2018.
2019-12-02
Iceland Current Account Balance Swings to Surplus in Q2
Iceland recorded a current account surplus of ISK 11.1 billion in the second quarter of 2019, switching from a ISK 4.4 billion deficit in the corresponding period of the previous year. The primary income surplus widened sharply to ISK 8.6 billion from ISK 0.5 billion in Q2 2018 and the services surplus rose to ISK 52.1 billion from ISK 51.4 billion. In addition, the goods deficit narrowed to ISK 42.7 billion from ISK 51.9 billion while the secondary income gap went up to ISK 6.9 billion from ISK 4.4 billion.
2019-09-02

Iceland Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).