Current Account in Iceland
Iceland - Current AccountFollowing a strong second-quarter performance, economic activity likely remained solid in the third quarter, buttressed notably by strong tourist inflows during the country’s high season. Indeed, though overnight stays were stable year-on-year in July, they increased more than 10% annually in both August and September, boding well for service exports. Moreover, the unemployment rate fell to a one-year low in Q3, in a positive sign for private consumption. Having said that, the krona has weakened markedly so far in Q4, while the powerful labor unions recently demanded steep minimum wage increases over the next three years, ahead of upcoming labor negotiations. Both of these events could stoke inflation going forward.
Iceland - Current Account Data
|Current Account (% of GDP)||5.9||4.0||5.3||7.7||3.7|
5 years of economic forecasts for more than 30 economic indicators.
Iceland Current Account Chart
Source: Central Bank of Iceland.
|Bond Yield||5.49||-0.99 %||Dec 14|
|Exchange Rate||123.3||-0.52 %||Dec 14|
|Stock Market||1,246||-0.32 %||Dec 14|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.