Current Account in Iceland

Iceland Current Account | Economic News & Forecasts

Iceland - Current Account

Economic momentum likely remained weak in the last quarter of 2018, following a marked deceleration in Q3 due largely to a sharp contraction in business and residential investment. Indeed, the tourism sector appears to have cooled in Q4, though the krona’s sharp fall in the quarter could support the sector going forward. While overnight tourist stays posted strong year-on-year growth in October, they were flat in November, pushing down occupancy rates as supply expanded. Moreover, airport data for December also suggests more muted tourism activity in the month. On the flipside, the labor market remained tight, with real wage growth increasing at a solid pace throughout 2018 despite softening in Q4.

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 Yield5.43-0.99 %Feb 20
Exchange Rate119.6-0.52 %Feb 20
Stock Market1,285-0.32 %Feb 20

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