Iceland recorded a Current Account surplus of 2.80 percent of the country's Gross Domestic Product in 2018. Current Account to GDP in Iceland averaged -4.03 percent from 1980 until 2018, reaching an all time high of 7.50 percent in 2016 and a record low of -23 percent in 2006.

Current Account to GDP in Iceland is expected to be 1.40 percent by the end of this quarter, 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 1.40 percent in 2020, according to our econometric models.

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Iceland Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
2.80 3.30 7.50 -23.00 1980 - 2018 percent Yearly
NSA

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.

Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -8300.00 -4367.40 24138.40 -28451.50 ISK Million [+]
Current Account 63.04 15.01 99.98 -137.24 ISK Billion [+]
Current Account to GDP 2.80 3.30 7.50 -23.00 percent [+]
Imports 52400.00 56452.30 74470.20 1.21 ISK Million [+]
Exports 44100.00 52084.88 76557.87 0.78 ISK Million [+]
External Debt 2408.15 2331.41 15748.53 280.59 ISK Billion [+]
Capital Flows 114.33 28.61 414.27 -418.16 ISK Billion [+]
Gold Reserves 1.98 1.98 2.00 1.84 Tonnes [+]
Terrorism Index 0.03 0.06 1.22 0.00 [+]
Tourist Arrivals 131054.00 163093.00 291344.00 10592.00 [+]
Remittances 1747.00 1526.00 2448.00 18.00 ISK Million [+]
Foreign Direct Investment 8.41 1.38 199.98 -553.03 ISK Billion [+]