Current account balance in Iceland
Iceland: Current account balance was -1.34 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$.
Analysis
In 2025, current account balance in Iceland stood at -1.34 billion BoP, current US$.
Compared with earlier readings it is down 24.8% on the previous year and down 220.3% 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$, in 2008.
That places Iceland 135th out of 198 countries with data for 2025, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -17.77 million BoP, current US$ | -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 | -600.53 million BoP, current US$ | -1.34 billion BoP, current US$ | 418.47 million BoP, current US$ | 6 |
Countries ranked near Iceland
- 132 Bolivia -1.22 billion BoP, current US$ compare
- 133 El Salvador -1.30 billion BoP, current US$ compare
- 134 Maldives -1.32 billion BoP, current US$ compare
- 136 Dominican Republic -1.49 billion BoP, current US$ compare
- 137 Indonesia -1.52 billion BoP, current US$ compare
- 138 Kenya -1.55 billion BoP, current US$ compare
More economy & growth data for Iceland
- External balance on goods and services as a percent of GDP -2.3% (2025)
- Inflation of consumer prices 4.1% (2025)
- GDP per capita 58,910 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 8.5% (2025)
- Gross domestic product (GDP) 23.12 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 58,910 constant 2015 US$ (2025)
- DEC alternative conversion factor 128.44 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -52.84 billion current LCU (2024)
- Net secondary income (Net current transfers from abroad) -383.05 million current US$ (2024)
- Taxes less subsidies on products 498.69 billion current LCU (2025)
Frequently asked questions
- What is current account balance in Iceland?
- Current account balance in Iceland was -1.34 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 135th out of 198 countries with data for 2025.
- Is current account balance rising or falling in Iceland?
- Over the last ten years it is down 220.3%. 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.