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.

Current Account in Iceland averaged -6.06 ISK Billion from 1978 until 2019, 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.

Current Account in Iceland is expected to be 7.53 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 16.14 in 12 months time. In the long-term, the Iceland Current Account is projected to trend around 14.92 ISK Billion in 2021 and 14.39 ISK Billion in 2022, according to our econometric models.


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Iceland Current Account

Actual Previous Highest Lowest Dates Unit Frequency
63.04 15.01 99.98 -137.24 1978 - 2019 ISK Billion Quarterly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-03-04 03:30 PM Q4 ISK0.3B ISK75.1B ISK 5.5B
2019-06-03 09:00 AM Q1 ISK 35.1B ISK0.8B
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 63B
2020-05-29 09:00 AM Q1
2020-09-01 09:00 AM Q2
2020-11-30 09:00 AM Q3


News Stream
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 Surplus Widens Sharply in Q1
The current account surplus in Iceland rose to ISK 35.1 billion in the first quarter of 2019 from ISK 6.7 billion in the corresponding period of the previous year. The goods account recorded an ISK 3.5 billion surplus swinging from an ISK 27.2 billion deficit a year ago while the primary income surplus widened to ISK 8.5 billion from ISK 2.2 billion. On the other hand, the services account surplus narrowed to ISK 29.7 billion from ISK 36.6 billion while the secondary income gap increased to ISK 6.7 billion from ISK 4.8 billion.
2019-06-03
Iceland Current Account Surplus Shrinks in Q4
The current account surplus in Iceland narrowed sharply to ISK 0.30 billion in the fourth quarter of 2018 from ISK 6.69 billion in the corresponding period of the previous year. The services surplus fell to ISK 33.42 billion from ISK 51.94 billion in the fourth quarter of 2017 and the secondary income deficit widened to ISK 6.26 billion from ISK 5.67 billion. On the other hand, the goods shortfall dropped to ISK 36.96 billion from ISK 37.91 billion and the primary income account posted a ISK 10.10 billion surplus, switching from a ISK 1.66 billion gap a year ago.
2019-03-04

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).