Current account balance (BoP, current US$) in Iceland
Iceland: Current account balance (BoP, current US$) was -1.50 billion BoP, current US$ in 2025. ◆ Volatile
Current account balance in Iceland, 1976–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
In 2025, current account balance in Iceland stood at -1.50 billion BoP, current US$.
Compared with earlier readings it is down 31.7% on the previous year and down 234.3% over ten years.
Over the whole period, current account balance in Iceland peaked at 1.92 billion BoP, current US$ in 2016 and was at its lowest, -4.19 billion BoP, current US$, in 2008.
That places Iceland 141st out of 200 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance (BoP, current US$) in Iceland, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1976 | -23.90 million BoP, current US$ | — |
| 1977 | -48.40 million BoP, current US$ | +102.5% |
| 1978 | 20.00 million BoP, current US$ | -141.3% |
| 1979 | -18.80 million BoP, current US$ | -194.0% |
| 1980 | -76.30 million BoP, current US$ | +305.9% |
| 1981 | -147.50 million BoP, current US$ | +93.3% |
| 1982 | -260.80 million BoP, current US$ | +76.8% |
| 1983 | -56.20 million BoP, current US$ | -78.5% |
| 1984 | -132.60 million BoP, current US$ | +135.9% |
| 1985 | -114.90 million BoP, current US$ | -13.3% |
| 1986 | 16.10 million BoP, current US$ | -114.0% |
| 1987 | -188.30 million BoP, current US$ | -1269.6% |
| 1988 | -231.20 million BoP, current US$ | +22.8% |
| 1989 | -102.00 million BoP, current US$ | -55.9% |
| 1990 | -133.58 million BoP, current US$ | +31.0% |
| 1991 | -269.14 million BoP, current US$ | +101.5% |
| 1992 | -160.32 million BoP, current US$ | -40.4% |
| 1993 | 36.86 million BoP, current US$ | -123.0% |
| 1994 | 115.62 million BoP, current US$ | +213.7% |
| 1995 | 18.15 million BoP, current US$ | -84.3% |
| 1996 | -176.18 million BoP, current US$ | -1070.8% |
| 1997 | -172.48 million BoP, current US$ | -2.1% |
| 1998 | -605.29 million BoP, current US$ | +250.9% |
| 1999 | -628.71 million BoP, current US$ | +3.9% |
| 2000 | -904.96 million BoP, current US$ | +43.9% |
| 2001 | -371.57 million BoP, current US$ | -58.9% |
| 2002 | 127.43 million BoP, current US$ | -134.3% |
| 2003 | -556.79 million BoP, current US$ | -536.9% |
| 2004 | -1.39 billion BoP, current US$ | +150.0% |
| 2005 | -2.67 billion BoP, current US$ | +91.6% |
| 2006 | -4.01 billion BoP, current US$ | +50.2% |
| 2007 | -2.99 billion BoP, current US$ | -25.3% |
| 2008 | -4.19 billion BoP, current US$ | +39.9% |
| 2009 | -1.17 billion BoP, current US$ | -72.0% |
| 2010 | -821.22 million BoP, current US$ | -29.9% |
| 2011 | -689.66 million BoP, current US$ | -16.0% |
| 2012 | -426.32 million BoP, current US$ | -38.2% |
| 2013 | 1.11 billion BoP, current US$ | -359.9% |
| 2014 | 892.75 million BoP, current US$ | -19.4% |
| 2015 | 1.12 billion BoP, current US$ | +25.0% |
| 2016 | 1.92 billion BoP, current US$ | +71.9% |
| 2017 | 1.24 billion BoP, current US$ | -35.6% |
| 2018 | 1.18 billion BoP, current US$ | -4.1% |
| 2019 | 1.84 billion BoP, current US$ | +55.3% |
| 2020 | 418.47 million BoP, current US$ | -77.3% |
| 2021 | -674.91 million BoP, current US$ | -261.3% |
| 2022 | -547.10 million BoP, current US$ | -18.9% |
| 2023 | -439.28 million BoP, current US$ | -19.7% |
| 2024 | -1.14 billion BoP, current US$ | +159.0% |
| 2025 | -1.50 billion BoP, current US$ | +31.7% |
Iceland compared with similar countries
- Iceland's -1.50 billion BoP, current US$ is below the median for high income countries, which is 194.40 million BoP, current US$. (72 countries reporting)
- Iceland's -1.50 billion BoP, current US$ is below the median for Europe & Central Asia, which is -814.98 million BoP, current US$, 1.8× the median. (51 countries reporting)
Biggest year-on-year movements
Years where Current account balance (BoP, current US$) in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1987 | -1269.6% | 16.10 million BoP, current US$ | -188.30 million BoP, current US$ |
| 1996 | -1070.8% | 18.15 million BoP, current US$ | -176.18 million BoP, current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -17.77 million BoP, current US$ | -48.40 million BoP, current US$ | 20.00 million BoP, current US$ | 4 |
| 1980s | -129.37 million BoP, current US$ | -260.80 million BoP, current US$ | 16.10 million BoP, current US$ | 10 |
| 1990s | -197.51 million BoP, current US$ | -628.71 million BoP, current US$ | 115.62 million BoP, current US$ | 10 |
| 2000s | -1.81 billion BoP, current US$ | -4.19 billion BoP, current US$ | 127.43 million BoP, current US$ | 10 |
| 2010s | 735.72 million BoP, current US$ | -821.22 million BoP, current US$ | 1.92 billion BoP, current US$ | 10 |
| 2020s | -646.44 million BoP, current US$ | -1.50 billion BoP, current US$ | 418.47 million BoP, current US$ | 6 |
Countries ranked near Iceland
- 138 El Salvador -1.30 billion BoP, current US$ compare
- 139 Bosnia and Herzegovina -1.32 billion BoP, current US$ compare
- 140 Tunisia -1.33 billion BoP, current US$ compare
- 142 Zambia -1.58 billion BoP, current US$ compare
- 143 Benin -1.61 billion BoP, current US$ compare
- 144 Dominican Republic -1.75 billion BoP, current US$ compare
More economy & growth data for Iceland
- Real gdp growth, annual growth rate -125.5 % change on previous year (2024)
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 5.55 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0153 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 1,500 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.5124 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0111 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 1,095 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
Frequently asked questions
- What is current account balance in Iceland?
- Current account balance in Iceland was -1.50 billion BoP, current US$ in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Iceland?
- The highest recorded value was 1.92 billion BoP, current US$ in 2016.
- What is the lowest current account balance recorded in Iceland?
- The lowest recorded value was -4.19 billion BoP, current US$ in 2008.
- How does Iceland rank for current account balance?
- Iceland ranks 141st out of 200 countries with data for 2025.
- Is current account balance rising or falling in Iceland?
- Over the last ten years it is down 234.3%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.