Iceland recorded a Current Account surplus of 1 percent of the country's Gross Domestic Product in 2020. source: EUROSTAT

Current Account to GDP in Iceland averaged -3.46 percent from 1980 until 2020, reaching an all time high of 8.10 percent in 2016 and a record low of -22.70 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 November of 2021.

Current Account to GDP in Iceland is expected to reach 0.90 percent by the end of 2021, 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 1.80 percent in 2022 and 1.70 percent in 2023, according to our econometric models.

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Iceland Current Account to GDP

Related Last Previous Unit Reference
Current Account to GDP 1.00 6.40 percent of GDP Dec/20
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.