Iceland Current Account Surplus Narrows

The current account surplus in Iceland narrowed to ISK 26.9 billion in the third quarter of 2025, from ISK 41 billion in the same period of the previous year. The goods account deficit widened sharply to ISK 101.6 billion from ISK 75.2 billion in the third quarter of 2024, while the secondary income shortfall increased to ISK 15.1 billion from ISK 10.3 billion. On the other hand, the services account surplus rose to ISK 137.4 billion from ISK 131.7 billion, and the primary income account posted a surplus of ISK 6.2 billion, compared with a deficit of ISK 5.2 billion in the same period last year.

The current account deficit in Iceland widened sharply to ISK 82.3 billion in the second quarter of 2025 from ISK 37.4 billion in the corresponding period of the previous year. The goods account deficit increased significantly to ISK 135.2 billion in Q2 of 2025 from ISK 88.6 billion in the same period earlier. At the same time, the services account surplus moderated to ISK 61.8 billion from ISK 65.7 billion. In contrast, primary income shifted to a surplus of ISK 3.9 billion from a deficit of ISK 1.2 billion, while the secondary income deficit decreased to ISK 12.8 billion from ISK 13.4 billion in Q2 2024.

The current account deficit in Iceland widened sharply to ISK 59.5 billion in the first quarter of 2025 from ISK 37.6 billion in the corresponding period of the previous year. The goods account deficit increased significantly to ISK 85.3 billion in Q1 of 2025 from ISK 51.8 billion in the same period a year earlier. At the same time, the secondary income gap rose to ISK 12.3 billion from ISK 10.4 billion. Meanwhile, the services account surplus expanded slightly to ISK 19.7 billion from ISK 15.7 billion, and the primary income surplus increased to ISK 18.3 billion from ISK 8.9 billion in Q1 of 2024.