Current Account in Iceland

Iceland Current Account | Economic News & Forecasts

Iceland - Current Account

Economic activity appears to have been fairly muted in the third quarter after rebounding in the second quarter, as suggested by a higher unemployment rate in August. Higher unemployment in August was likely linked to a struggling tourism sector. Moreover, wage growth slowed in annual terms in July and August relative to Q2, which likely weighed on private consumption, while overnight stays continued to decrease year-on-year through August. This reflected the recent collapse of WOW Air, which had brought in more than a quarter of all international visitors. On a more positive note, consumer confidence increased for the third straight month in September, credit lending to households remains healthy and fishing volumes increased year-on-year in Q3 after slumping in Q2.

Iceland - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)5.9  3.8  5.2  7.7  3.5  

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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 Yield3.66-0.99 %Sep 04
Exchange Rate126.2-0.52 %Sep 04
Stock Market1,437-0.32 %Sep 04

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