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 October 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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
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 -3762.38 -11247.03 24063.60 -28988.51 ISK Million [+]
Current Account 6954.00 16735.00 99975.00 -137239.00 ISK Million [+]
Current Account to GDP 5.80 3.10 7.60 -23.00 percent [+]
Imports 65375.90 55303.61 74676.84 1.21 ISK Million [+]
Exports 61613.52 44056.58 76557.01 0.78 ISK Million [+]
External Debt 2647551.00 2585660.00 15748529.00 280593.00 ISK Million [+]
Capital Flows 21609.00 34140.00 414266.00 -418160.00 ISK Million [+]
Gold Reserves 2.00 2.00 2.00 1.84 Tonnes [+]
Remittances 1182.00 1403.00 2448.00 18.00 ISK Million [+]
Terrorism Index 0.03 0.06 1.22 0.00 [+]
Tourist Arrivals 45614.00 5943.00 291344.00 924.00 [+]
Foreign Direct Investment -6243.00 -38139.00 199978.00 -553027.00 ISK Million [+]


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.