Iceland recorded a Current Account surplus of 5.80 percent of the country's Gross Domestic Product in 2019.

Current Account to GDP in Iceland averaged -3.76 percent from 1980 until 2019, reaching an all time high of 7.60 percent in 2016 and a record low of -23 percent in 2006. This page provides - Iceland Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Current Account to GDP - values, historical data and charts - was last updated on May of 2020.

Current Account to GDP in Iceland is expected to reach 2.60 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Current Account to GDP is projected to trend around 2.70 percent in 2021 and 2.80 percent in 2022, according to our econometric models.

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Iceland Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
5.80 3.10 7.60 -23.00 1980 - 2019 percent Yearly
NSA

Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -820.53 -12976.26 24138.40 -28450.73 ISK Million [+]
Current Account 11.40 50.90 99.98 -137.24 ISK Billion [+]
Current Account to GDP 5.80 3.10 7.60 -23.00 percent [+]
Imports 47961.34 68900.87 74468.85 1.21 ISK Million [+]
Exports 47140.81 55924.62 76557.87 0.78 ISK Million [+]
External Debt 2307.99 2350.80 15748.53 280.59 ISK Billion [+]
Capital Flows 51.90 103.00 414.27 -418.16 ISK Billion [+]
Gold Reserves 2.00 1.98 2.00 1.84 Tonnes [+]
Remittances 1652.00 1848.00 2448.00 18.00 ISK Million [+]
Terrorism Index 0.03 0.06 1.22 0.00 [+]
Tourist Arrivals 79873.00 133001.00 291344.00 10592.00 [+]
Foreign Direct Investment 28.60 8.70 199.98 -553.03 ISK Billion [+]


Iceland Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.