External balance on goods and services in Iceland
Iceland: External balance on goods and services was -181.56 billion constant LCU in 2025. ◆ Volatile
Latest (2025)
-181.56 billion constant LCU
Change on year
down 113.3%
World rank
118th
of 161 countries
All-time high
251.28 billion constant LCU
in 2013
All-time low
-529.19 billion constant LCU
in 2006
Years of data
56
1970–2025
External balance on goods and services in Iceland, 1970–2025
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
Iceland recorded -181.56 billion constant LCU for external balance on goods and services in 2025.
Compared with earlier readings it is down 113.3% on the previous year and down 201.6% over ten years.
Over the whole period, external balance on goods and services in Iceland peaked at 251.28 billion constant LCU in 2013 and was at its lowest, -529.19 billion constant LCU, in 2006.
That places Iceland 118th out of 161 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.
External balance on goods and services in Iceland, year by year
| Year | constant LCU | Change |
|---|---|---|
| 1970 | -13.08 billion constant LCU | — |
| 1971 | -81.37 billion constant LCU | +522.0% |
| 1972 | -56.32 billion constant LCU | -30.8% |
| 1973 | -92.09 billion constant LCU | +63.5% |
| 1974 | -137.99 billion constant LCU | +49.8% |
| 1975 | -86.50 billion constant LCU | -37.3% |
| 1976 | -45.53 billion constant LCU | -47.4% |
| 1977 | -84.74 billion constant LCU | +86.1% |
| 1978 | -55.74 billion constant LCU | -34.2% |
| 1979 | -44.92 billion constant LCU | -19.4% |
| 1980 | -47.25 billion constant LCU | +5.2% |
| 1981 | -64.45 billion constant LCU | +36.4% |
| 1982 | -94.33 billion constant LCU | +46.4% |
| 1983 | -17.11 billion constant LCU | -81.9% |
| 1984 | -43.28 billion constant LCU | +153.0% |
| 1985 | -41.25 billion constant LCU | -4.7% |
| 1986 | -20.89 billion constant LCU | -49.4% |
| 1987 | -113.72 billion constant LCU | +444.3% |
| 1988 | -104.06 billion constant LCU | -8.5% |
| 1989 | -35.59 billion constant LCU | -65.8% |
| 1990 | -40.52 billion constant LCU | +13.9% |
| 1991 | -92.98 billion constant LCU | +129.5% |
| 1992 | -70.51 billion constant LCU | -24.2% |
| 1993 | -6.98 billion constant LCU | -90.1% |
| 1994 | 16.91 billion constant LCU | -342.4% |
| 1995 | -11.05 billion constant LCU | -165.3% |
| 1996 | -43.43 billion constant LCU | +293.0% |
| 1997 | -57.11 billion constant LCU | +31.5% |
| 1998 | -179.27 billion constant LCU | +213.9% |
| 1999 | -186.14 billion constant LCU | +3.8% |
| 2000 | -222.08 billion constant LCU | +19.3% |
| 2001 | -102.54 billion constant LCU | -53.8% |
| 2002 | -60.55 billion constant LCU | -41.0% |
| 2003 | -127.30 billion constant LCU | +110.2% |
| 2004 | -187.26 billion constant LCU | +47.1% |
| 2005 | -383.25 billion constant LCU | +104.7% |
| 2006 | -529.19 billion constant LCU | +38.1% |
| 2007 | -330.56 billion constant LCU | -37.5% |
| 2008 | -51.14 billion constant LCU | -84.5% |
| 2009 | 223.57 billion constant LCU | -537.1% |
| 2010 | 213.23 billion constant LCU | -4.6% |
| 2011 | 188.81 billion constant LCU | -11.4% |
| 2012 | 184.98 billion constant LCU | -2.0% |
| 2013 | 251.28 billion constant LCU | +35.8% |
| 2014 | 205.68 billion constant LCU | -18.1% |
| 2015 | 178.78 billion constant LCU | -13.1% |
| 2016 | 172.31 billion constant LCU | -3.6% |
| 2017 | 85.38 billion constant LCU | -50.5% |
| 2018 | 110.14 billion constant LCU | +29.0% |
| 2019 | 171.50 billion constant LCU | +55.7% |
| 2020 | -11.27 billion constant LCU | -106.6% |
| 2021 | -93.71 billion constant LCU | +731.7% |
| 2022 | -75.46 billion constant LCU | -19.5% |
| 2023 | 9.85 billion constant LCU | -113.1% |
| 2024 | -85.14 billion constant LCU | -964.6% |
| 2025 | -181.56 billion constant LCU | +113.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -69.83 billion constant LCU | -137.99 billion constant LCU | -13.08 billion constant LCU | 10 |
| 1980s | -58.19 billion constant LCU | -113.72 billion constant LCU | -17.11 billion constant LCU | 10 |
| 1990s | -67.11 billion constant LCU | -186.14 billion constant LCU | 16.91 billion constant LCU | 10 |
| 2000s | -177.03 billion constant LCU | -529.19 billion constant LCU | 223.57 billion constant LCU | 10 |
| 2010s | 176.21 billion constant LCU | 85.38 billion constant LCU | 251.28 billion constant LCU | 10 |
| 2020s | -72.88 billion constant LCU | -181.56 billion constant LCU | 9.85 billion constant LCU | 6 |
Countries ranked near Iceland
- 115 Comoros -128.55 billion constant LCU compare
- 116 Guinea-Bissau -138.28 billion constant LCU compare
- 117 Guatemala -138.41 billion constant LCU compare
- 119 Romania -198.45 billion constant LCU compare
- 120 Albania -219.49 billion constant LCU compare
- 121 Syrian Arab Republic -220.82 billion constant LCU compare
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)
- Net primary income (Net income from abroad) (current LCU), annual 7.13 % change on previous year (2024)
- Taxes less subsidies on products (current US$), annual growth rate 5.83 % change on previous year (2025)
- Taxes less subsidies on products (current US$), per unit of GDP 0.1006 current US$ per US$ of GDP (2025)
- Taxes less subsidies on products (current US$), per capita 9,894 current US$ per person (2025)
- Taxes less subsidies on products (current LCU), annual growth rate -1.47 % change on previous year (2025)
- Taxes less subsidies on products (current LCU), per unit of GDP 12.93 current LCU per US$ of GDP (2025)
- Taxes less subsidies on products (current LCU), per capita 1.27 million current LCU per person (2025)
- Special drawing rights per domestic currency (End-of-period (EoP)) 0.0058 (2025)
Frequently asked questions
- What is external balance on goods and services in Iceland?
- External balance on goods and services in Iceland was -181.56 billion constant LCU in 2025, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Iceland?
- The highest recorded value was 251.28 billion constant LCU in 2013.
- What is the lowest external balance on goods and services recorded in Iceland?
- The lowest recorded value was -529.19 billion constant LCU in 2006.
- How does Iceland rank for external balance on goods and services?
- Iceland ranks 118th out of 161 countries with data for 2025.
- Is external balance on goods and services rising or falling in Iceland?
- Over the last ten years it is down 201.6%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (constant LCU). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.