Iceland’s current account deficit widened to ISK 120.3 billion in the second quarter of 2026 from ISK 115.9 billion in the corresponding period of the previous year. This marked the largest current account shortfall since the second quarter of 2008, as the goods trade deficit increased sharply to ISK 154.4 billion from ISK 128.1 billion, driven largely by a much stronger increase in imports, which rose 8.6%, compared with a softer 2.3% increase in exports. Meanwhile, the primary income deficit narrowed to ISK 18 billion from ISK 32.8 billion, while the services surplus increased to ISK 66.6 billion from ISK 61.9 billion a year earlier. The secondary income deficit also narrowed to ISK 14.5 billion from ISK 16.8 billion. source: Central Bank of Iceland

Iceland recorded a Current Account deficit of 120269 ISK Million in the second quarter of 2026. Current Account in Iceland averaged -6788.37 ISK Million from 1978 until 2026, reaching an all time high of 111578.00 ISK Million in the third quarter of 2016 and a record low of -134465.00 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 September of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-04 09:00 AM
Current Account
Q1 ISK-32.1B ISK-39.1B ISK-32.0B
2026-09-03 09:00 AM
Current Account
Q2 ISK-120.3B ISK-28.8B ISK-40.0B
2026-12-03 09:00 AM
Current Account
Q3 ISK-120.3B


Related Last Previous Unit Reference
Balance of Trade -40557.20 -58664.50 ISK Million Jul 2026
Capital Flows -13918.00 23066.00 ISK Million Jun 2026
Current Account -120269.00 -28821.00 ISK Million Jun 2026
Exports 86505.30 97757.50 ISK Million Jul 2026
External Debt 3837908.00 3662137.00 ISK Million Jun 2026
Foreign Direct Investment -6217.00 62982.00 ISK Million Jun 2026
Imports 127062.50 156422.00 ISK Million Jul 2026
Remittances 2704.00 2736.00 ISK Million Jun 2026


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).
Actual Previous Highest Lowest Dates Unit Frequency
-120269.00 -28821.00 111578.00 -134465.00 1978 - 2026 ISK Million Quarterly
Current Prices, NSA

News Stream
Iceland Current Account Gap Hits 18-Year High
Iceland’s current account deficit widened to ISK 120.3 billion in the second quarter of 2026 from ISK 115.9 billion in the corresponding period of the previous year. This marked the largest current account shortfall since the second quarter of 2008, as the goods trade deficit increased sharply to ISK 154.4 billion from ISK 128.1 billion, driven largely by a much stronger increase in imports, which rose 8.6%, compared with a softer 2.3% increase in exports. Meanwhile, the primary income deficit narrowed to ISK 18 billion from ISK 32.8 billion, while the services surplus increased to ISK 66.6 billion from ISK 61.9 billion a year earlier. The secondary income deficit also narrowed to ISK 14.5 billion from ISK 16.8 billion.
2026-09-03
Iceland Current Account Deficit Narrows in Q1
Iceland’s current account deficit narrowed sharply to ISK 32.1 billion in the first quarter of 2026 from ISK 70.2 billion in the corresponding period of the previous year. The services account surplus increased to ISK 29.3 billion from ISK 17.8 billion, while the goods account deficit narrowed to ISK 23.4 billion from ISK 84.4 billion in Q1 2025. On the other hand, the primary income balance deteriorated, shifting to a deficit of ISK 20.6 billion from a surplus of ISK 9.1 billion, and the secondary income deficit widened to ISK 17.3 billion from ISK 12.8 billion a year earlier.
2026-06-04
Iceland Current Account Swings to Deficit in Q4
The current account in Iceland recorded a deficit of ISK 38 billion in the fourth quarter of 2025, shifting from a surplus of ISK 20.9 billion in the same period of the previous year. The services account surplus narrowed to ISK 49.4 billion from ISK 53.1 billion, while the secondary income shortfall stood at ISK 15 billion, unchanged from Q4 2024. In contrast, the goods account deficit narrowed sharply to ISK 73.4 billion from ISK 97.3 billion, and the primary account swung into a small surplus of ISK 1 billion, up from a deficit of ISK 27.1 billion. For the full year, Iceland’s current account deficit widened to ISK 177.7 billion from ISK 148.5 billion in 2024.
2026-03-05