Current Account in Iceland

Iceland Current Account | Economic News & Forecasts

Iceland - Current Account

Following 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

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 Yield5.49-0.99 %Dec 14
Exchange Rate123.3-0.52 %Dec 14
Stock Market1,246-0.32 %Dec 14

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