Current Account in Iceland

Iceland Current Account | Economic News & Forecasts

Iceland - Current Account

After hitting an over one-year high in the first quarter, growth in the second quarter was likely robust, thanks largely to the dynamism of the tourism sector, which is now in its high season. After a disappointing start in April, overnight stays grew robustly in May. The sector likely contributed to the decrease in unemployment observed in May—which should continue to support wage growth—while also benefiting residential construction investment, which had surged in Q1. However, the external sector probably detracted from growth due to higher imports of fuel, ships and aircrafts, while fish catch volumes in May and June showed some weakness.

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

ValueChangeDate
Bond Yield5.58-0.99 %Aug 15
Exchange Rate109.3-0.52 %Aug 15
Stock Market1,282-0.32 %Aug 15

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