The current account gap in Iceland widened sharply to ISK 50.3 billion in the first quarter of 2022 from ISK 23 billion in the corresponding period of the previous year. The primary income switched to a deficit of ISK 15.8 billion from a surplus of ISK 12.8 billion a year earlier while the secondary income gap widened to ISK 9.1 billion from ISK 8.2 billion. Also, the goods account shortfall rose to ISK 20 billion from ISK 19.6 billion. Meanwhile, the services account deficit narrowed to ISK 5.4 billion from ISK 8.3 billion a year ago. source: Central Bank of Iceland

Current Account in Iceland averaged -5336.19 ISK Million from 1978 until 2022, reaching an all time high of 105078 ISK Million in the third quarter of 2016 and a record low of -133504 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 June of 2022.

Current Account in Iceland is expected to be 15.00 ISK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Current Account is projected to trend around 20.00 ISK Million in 2023, according to our econometric models.

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Iceland Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-03-02 09:00 AM Q4 ISK-44.2B ISK 17B
2022-06-01 09:00 AM Q1 ISK -50.3B ISK-44.4B
2022-09-02 09:00 AM Q2 ISK -50.3B


Related Last Previous Unit Reference
Current Account -50273.00 -44461.00 ISK Million Mar 2022
External Debt 2672610.00 2747872.00 ISK Million Mar 2022
Capital Flows -39302.00 -51777.00 ISK Million Mar 2022
Remittances 1828.00 2008.00 ISK Million Mar 2022
Foreign Direct Investment -32378.00 57053.00 ISK Million Mar 2022

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
-50273.00 -44461.00 105078.00 -133504.00 1978 - 2022 ISK Million Quarterly
Current Prices, NSA

News Stream
Iceland Current Account Deficit Widens in Q1
The current account gap in Iceland widened sharply to ISK 50.3 billion in the first quarter of 2022 from ISK 23 billion in the corresponding period of the previous year. The primary income switched to a deficit of ISK 15.8 billion from a surplus of ISK 12.8 billion a year earlier while the secondary income gap widened to ISK 9.1 billion from ISK 8.2 billion. Also, the goods account shortfall rose to ISK 20 billion from ISK 19.6 billion. Meanwhile, the services account deficit narrowed to ISK 5.4 billion from ISK 8.3 billion a year ago.
2022-06-01
Iceland Posts Widest Current Account Gap since 2012
Iceland posted a current account deficit of ISK 44.2 billion in the fourth quarter of 2021, shifting from a surplus of ISK 23.5 billion in the same quarter of the previous year. It was the largest current account gap since the second quarter of 2012, as the goods deficit widened to ISK 38.7 billion from ISK 15.5 billion a year ago, while the service surplus narrowed to ISK 20.1 from ISK 25.9 billion. At the same time, the primary income account switched to ISK 15.5 billion deficit, compared with a ISK 21.4 billion surplus; and the secondary income shortfall widened to a ISK 10.1 billion from ISK 8.5 billion in the same period of last year. The current account balance for 2021 showed a deficit of ISK 90.2 billion, as compared with a surplus of ISK 24.1 billion in 2020.
2022-03-02