Iceland recorded a Current Account surplus of 6954 ISK Million in the second quarter of 2020. It is the lowest surplus since the last quarter of 2018.

Current Account in Iceland averaged -5390.13 ISK Million from 1978 until 2020, reaching an all time high of 99975 ISK Million in the third quarter of 2016 and a record low of -137239 ISK Million 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 October of 2020.

Current Account in Iceland is expected to be 100.00 ISK Million 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 Million in 2021 and 20.00 ISK Million in 2022, according to our econometric models.

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Iceland Current Account

Actual Previous Highest Lowest Dates Unit Frequency
6954.00 16735.00 99975.00 -137239.00 1978 - 2020 ISK Million Quarterly
Current Prices, NSA

Calendar GMT Actual Previous Consensus TEForecast
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 ISK 7B ISK16.7B ISK 15B
2020-11-30 09:00 AM Q3 ISK 7B 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.
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.

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).