Current Account in Iceland

Iceland Current Account | Economic News & Forecasts

Iceland - Current Account

The economy recovered in Q4 2018 following Q3’s sharp deceleration, although growth nevertheless remained weaker than in H1. A rebound in residential investment largely drove the print, the only silver lining in an otherwise gloomy quarter. Private consumption faded noticeably, as did public spending, while business investment sharply contracted for a second consecutive quarter. The external sector also deteriorated, as imports and exports both fell steeply—with service exports plunging due to softer tourism activity. Looking ahead, large scale union strikes have been scheduled in coming weeks after wage negotiations broke down, which could negatively impact growth in the second quarter.

Iceland - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)5.9  4.0  5.3  7.7  3.7  

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Iceland Current Account Chart

Iceland Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Iceland.

Iceland Facts

Bond Yield4.33-0.99 %Apr 22
Exchange Rate120.4-0.52 %Apr 22
Stock Market1,369-0.32 %Apr 17

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