Economic Outlook No 116 — Current account balance in Iceland
Iceland: Economic Outlook No 116 — Current account balance was -47.74 billion in 2026. ◆ Volatile
Economic Outlook No 116 — Current account balance in Iceland, 1974–2026
Source: Organisation for Economic Co-operation and Development.
Analysis
In 2026, economic outlook no 116 — current account balance in Iceland stood at -47.74 billion.
That represents a change of down 7.8% on the previous year and down 124.8% over ten years.
Over the whole period, economic outlook no 116 — current account balance in Iceland peaked at 196.62 billion in 2019 and was at its lowest, -324.76 billion, in 2008.
That places Iceland 24th out of 36 countries with data for 2026, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Economic Outlook No 116 — Current account balance in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 1974 | -161.78 million | — |
| 1975 | -208.07 million | +28.6% |
| 1976 | -40.40 million | -80.6% |
| 1977 | -97.19 million | +140.5% |
| 1978 | 88.33 million | -190.9% |
| 1979 | -84.66 million | -195.8% |
| 1980 | -291.50 million | +244.3% |
| 1981 | -1.03 billion | +253.2% |
| 1982 | -3.04 billion | +195.5% |
| 1983 | -1.47 billion | -51.8% |
| 1984 | -4.12 billion | +181.2% |
| 1985 | -4.62 billion | +11.9% |
| 1986 | 789.74 million | -117.1% |
| 1987 | -6.98 billion | -983.5% |
| 1988 | -9.37 billion | +34.3% |
| 1989 | -5.93 billion | -36.7% |
| 1990 | -7.71 billion | +30.0% |
| 1991 | -15.99 billion | +107.5% |
| 1992 | -9.54 billion | -40.3% |
| 1993 | 2.91 billion | -130.5% |
| 1994 | 8.52 billion | +192.9% |
| 1995 | 799.59 million | -90.6% |
| 1996 | -12.41 billion | -1652.5% |
| 1997 | -12.47 billion | +0.4% |
| 1998 | -43.30 billion | +247.3% |
| 1999 | -45.63 billion | +5.4% |
| 2000 | -72.30 billion | +58.5% |
| 2001 | -35.12 billion | -51.4% |
| 2002 | 11.02 billion | -131.4% |
| 2003 | -42.20 billion | -482.9% |
| 2004 | -97.82 billion | +131.8% |
| 2005 | -167.90 billion | +71.6% |
| 2006 | -277.20 billion | +65.1% |
| 2007 | -184.09 billion | -33.6% |
| 2008 | -324.76 billion | +76.4% |
| 2009 | -142.65 billion | -56.1% |
| 2010 | -100.78 billion | -29.3% |
| 2011 | -84.90 billion | -15.8% |
| 2012 | -67.33 billion | -20.7% |
| 2013 | 122.25 billion | -281.6% |
| 2014 | 89.05 billion | -27.2% |
| 2015 | 123.61 billion | +38.8% |
| 2016 | 192.30 billion | +55.6% |
| 2017 | 112.79 billion | -41.3% |
| 2018 | 117.54 billion | +4.2% |
| 2019 | 196.62 billion | +67.3% |
| 2020 | 46.37 billion | -76.4% |
| 2021 | -93.85 billion | -302.4% |
| 2022 | -87.24 billion | -7.0% |
| 2023 | 40.34 billion | -146.2% |
| 2024 | -53.60 billion | -232.8% |
| 2025 | -44.27 billion | -17.4% |
| 2026 | -47.74 billion | +7.8% |
Iceland compared with similar countries
- Iceland's -47.74 billion is below the median for high income countries, which is 2.64 billion. (29 countries reporting)
- Iceland's -47.74 billion is below the median for Europe & Central Asia, which is 15.53 billion. (21 countries reporting)
Biggest year-on-year movements
Years where Economic Outlook No 116 — Current account balance 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 |
|---|---|---|---|
| 1996 | -1652.5% | 799.59 million | -12.41 billion |
| 1987 | -983.5% | 789.74 million | -6.98 billion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -83.96 million | -208.07 million | 88.33 million | 6 |
| 1980s | -3.61 billion | -9.37 billion | 789.74 million | 10 |
| 1990s | -13.48 billion | -45.63 billion | 8.52 billion | 10 |
| 2000s | -133.30 billion | -324.76 billion | 11.02 billion | 10 |
| 2010s | 70.11 billion | -100.78 billion | 196.62 billion | 10 |
| 2020s | -34.28 billion | -93.85 billion | 46.37 billion | 7 |
Countries ranked near Iceland
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 economic outlook no 116 — current account balance in Iceland?
- Economic outlook no 116 — current account balance in Iceland was -47.74 billion in 2026, according to Organisation for Economic Co-operation and Development.
- What is the highest economic outlook no 116 — current account balance recorded in Iceland?
- The highest recorded value was 196.62 billion in 2019.
- What is the lowest economic outlook no 116 — current account balance recorded in Iceland?
- The lowest recorded value was -324.76 billion in 2008.
- How does Iceland rank for economic outlook no 116 — current account balance?
- Iceland ranks 24th out of 36 countries with data for 2026.
- Is economic outlook no 116 — current account balance rising or falling in Iceland?
- Over the last ten years it is down 124.8%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Economic Outlook No 116 — Current account balance. Statizoid updates them automatically from the source API.
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About this data
The OECD Economic Outlook presents the OECD’s analysis of the major global economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, government spending, prices and current balances based on a review of each member country and of the induced effect on each of them on international developments. OECD (2024), OECD Economic Outlook No 116 (Edition 2024/2) EO116 Database documentation EO116 Last historical points OECD Economic Outlook website: https://www.oecd.org/economic-outlook/ Contact: eco.outlook@oecd.org