Economic Outlook No 117 — Current account balance in Iceland
Iceland: Economic Outlook No 117 — Current account balance was -140.04 billion in 2026. ◆ Volatile
Economic Outlook No 117 — Current account balance in Iceland, 1974–2026
Source: Organisation for Economic Co-operation and Development.
Analysis
Iceland recorded -140.04 billion for economic outlook no 117 — current account balance in 2026.
That represents a change of up 29.0% on the previous year and down 172.8% over ten years.
Over the whole period, economic outlook no 117 — current account balance in Iceland peaked at 196.57 billion in 2019 and was at its lowest, -324.78 billion, in 2008.
Iceland ranks 26th of 36 countries on this measure, 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 117 — 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 | 815.37 million | -90.4% |
| 1996 | -12.40 billion | -1620.5% |
| 1997 | -12.45 billion | +0.4% |
| 1998 | -43.29 billion | +247.7% |
| 1999 | -45.62 billion | +5.4% |
| 2000 | -72.28 billion | +58.4% |
| 2001 | -35.11 billion | -51.4% |
| 2002 | 11.03 billion | -131.4% |
| 2003 | -42.18 billion | -482.3% |
| 2004 | -97.79 billion | +131.8% |
| 2005 | -167.88 billion | +71.7% |
| 2006 | -277.13 billion | +65.1% |
| 2007 | -184.02 billion | -33.6% |
| 2008 | -324.78 billion | +76.5% |
| 2009 | -142.60 billion | -56.1% |
| 2010 | -100.73 billion | -29.4% |
| 2011 | -84.81 billion | -15.8% |
| 2012 | -67.30 billion | -20.6% |
| 2013 | 122.28 billion | -281.7% |
| 2014 | 89.05 billion | -27.2% |
| 2015 | 123.64 billion | +38.8% |
| 2016 | 192.29 billion | +55.5% |
| 2017 | 112.86 billion | -41.3% |
| 2018 | 117.61 billion | +4.2% |
| 2019 | 196.57 billion | +67.1% |
| 2020 | 46.07 billion | -76.6% |
| 2021 | -100.71 billion | -318.6% |
| 2022 | -99.44 billion | -1.3% |
| 2023 | 27.58 billion | -127.7% |
| 2024 | -119.67 billion | -533.9% |
| 2025 | -197.12 billion | +64.7% |
| 2026 | -140.04 billion | -29.0% |
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 | -45.62 billion | 8.52 billion | 10 |
| 2000s | -133.28 billion | -324.78 billion | 11.03 billion | 10 |
| 2010s | 70.15 billion | -100.73 billion | 196.57 billion | 10 |
| 2020s | -83.33 billion | -197.12 billion | 46.07 billion | 7 |
Countries ranked near Iceland
More economy & growth data for Iceland
- 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)
- Gross value added at basic prices (GVA) (current LCU), annual growth 9.45 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 115.52 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 11.36 million current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5382 constant 2015 US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per 52,920 constant 2015 US$ per person (2025)
- Gross value added at basic prices (GVA) (constant LCU), annual growth 1.28 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant LCU), per unit of 83.85 constant LCU per US$ of GDP (2025)
Frequently asked questions
- What is economic outlook no 117 — current account balance in Iceland?
- Economic outlook no 117 — current account balance in Iceland was -140.04 billion in 2026, according to Organisation for Economic Co-operation and Development.
- What is the highest economic outlook no 117 — current account balance recorded in Iceland?
- The highest recorded value was 196.57 billion in 2019.
- What is the lowest economic outlook no 117 — current account balance recorded in Iceland?
- The lowest recorded value was -324.78 billion in 2008.
- How does Iceland rank for economic outlook no 117 — current account balance?
- Iceland ranks 26th out of 36 countries with data for 2026.
- Is economic outlook no 117 — current account balance rising or falling in Iceland?
- Over the last ten years it is down 172.8%. 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 117 — 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 (2025), OECD Economic Outlook No 117 (Edition 2025/1) EO117 Database documentation EO117 Last historical points gdp inflation cpi population unemployment real gdp gdp per capita employment OECD Economic Outlook website: https://www.oecd.org/economic-outlook/ Contact : eco.outlook@oecd.org Keywords : Outlook, forecasts, forecast, GDP