Current Account in Iceland
Iceland - Current AccountThe economy contracted slightly in the third quarter after briefly recovering in the second quarter. Exports of goods and services plunged in Q3 on falling tourist arrivals, as the collapse of WOW air earlier this year continued to depress the tourism sector. On a more positive note, consumer spending picked up in Q3, while fixed investment recovered, buttressed by robust residential investment and despite declining business investment. Turning to the fourth quarter, the economy likely remained on a feeble footing. While fiscal stimulus and more accommodative monetary conditions should have fed through to domestic demand, ongoing uncertainty in the tourism sector likely continued to stall investment plans and drag on services exports. Moreover, the total fish catch, a key export earner, shrank sharply in annual terms in November.
Iceland - Current Account Data
|Current Account (% of GDP)||5.9||3.8||5.2||7.7||3.5|
5 years of economic forecasts for more than 30 economic indicators.
Iceland Current Account Chart
Source: Central Bank of Iceland.
|Bond Yield||3.45||-0.99 %||Dec 31|
|Exchange Rate||121.1||-0.52 %||Jan 01|
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