Current Account in Iceland

Iceland Current Account | Economic News & Forecasts

Iceland - Current Account

The economy contracted slightly in the third quarter after briefly recovering in the second quarter. Exports of goods and services plunged in Q3 on falling tourist arrivals, as the collapse of WOW air earlier this year continued to depress the tourism sector. On a more positive note, consumer spending picked up in Q3, while fixed investment recovered, buttressed by robust residential investment and despite declining business investment. Turning to the fourth quarter, the economy likely remained on a feeble footing. While fiscal stimulus and more accommodative monetary conditions should have fed through to domestic demand, ongoing uncertainty in the tourism sector likely continued to stall investment plans and drag on services exports. Moreover, the total fish catch, a key export earner, shrank sharply in annual terms in November.

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

Value Change Date
Bond Yield3.45-0.99 %Dec 31
Exchange Rate121.1-0.52 %Jan 01

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