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

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 March of 2021.

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 -11961.70 -4835.60 21093.00 -33367.10 ISK Million [+]
Current Account 22086.00 2853.00 104939.00 -133503.00 ISK Million [+]
Current Account to GDP 5.80 3.10 7.60 -23.00 percent [+]
Imports 64527.00 54011.90 79128.90 1.21 ISK Million [+]
Exports 52565.30 49176.30 76594.10 0.78 ISK Million [+]
External Debt 2379828.00 2625978.00 15748529.00 280593.00 ISK Million [+]
Capital Flows 75683.00 28570.00 414266.00 -418160.00 ISK Million [+]
Gold Reserves 1.98 1.98 2.00 1.84 Tonnes [+]
Remittances 1482.00 1381.00 2448.00 18.00 ISK Million [+]
Terrorism Index 0.00 0.03 1.22 0.00 [+]
Tourist Arrivals 4362.00 8135.00 291344.00 924.00 [+]
Foreign Direct Investment 4503.00 -93593.00 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.