External balance on goods and services in Iceland
Iceland: External balance on goods and services was -872.02 million current US$ in 2025. ◆ Volatile
Latest (2025)
-872.02 million current US$
Change on year
down 107.4%
World rank
111th
of 193 countries
All-time high
1.52 billion current US$
in 2016
All-time low
-2.92 billion current US$
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 current US$.
Analysis
Iceland recorded -872.02 million current US$ for external balance on goods and services in 2025.
Compared with earlier readings it is down 107.4% on the previous year and down 163.3% over ten years.
Over the whole period, external balance on goods and services in Iceland peaked at 1.52 billion current US$ in 2016 and was at its lowest, -2.92 billion current US$, in 2006.
Iceland ranks 111th of 193 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Iceland, year by year
| Year | current US$ | Change |
|---|---|---|
| 1970 | 8.21 million current US$ | — |
| 1971 | -43.39 million current US$ | -628.5% |
| 1972 | -15.76 million current US$ | -63.7% |
| 1973 | -24.51 million current US$ | +55.5% |
| 1974 | -146.75 million current US$ | +498.7% |
| 1975 | -117.63 million current US$ | -19.8% |
| 1976 | 4.44 million current US$ | -103.8% |
| 1977 | -19.13 million current US$ | -530.9% |
| 1978 | 70.78 million current US$ | -470.0% |
| 1979 | 29.43 million current US$ | -58.4% |
| 1980 | -3.48 million current US$ | -111.8% |
| 1981 | -54.51 million current US$ | +1467.1% |
| 1982 | -152.69 million current US$ | +180.1% |
| 1983 | 55.70 million current US$ | -136.5% |
| 1984 | -4.57 million current US$ | -108.2% |
| 1985 | 1.33 million current US$ | -129.0% |
| 1986 | 147.13 million current US$ | +10985.2% |
| 1987 | -62.67 million current US$ | -142.6% |
| 1988 | -60.10 million current US$ | -4.1% |
| 1989 | 120.21 million current US$ | -300.0% |
| 1990 | 76.46 million current US$ | -36.4% |
| 1991 | -91.45 million current US$ | -219.6% |
| 1992 | -12.68 million current US$ | -86.1% |
| 1993 | 187.57 million current US$ | -1579.4% |
| 1994 | 317.69 million current US$ | +69.4% |
| 1995 | 245.75 million current US$ | -22.6% |
| 1996 | 36.59 million current US$ | -85.1% |
| 1997 | 35.03 million current US$ | -4.3% |
| 1998 | -369.64 million current US$ | -1155.1% |
| 1999 | -405.64 million current US$ | +9.7% |
| 2000 | -620.89 million current US$ | +53.1% |
| 2001 | -70.25 million current US$ | -88.7% |
| 2002 | 148.94 million current US$ | -312.0% |
| 2003 | -337.73 million current US$ | -326.7% |
| 2004 | -775.87 million current US$ | +129.7% |
| 2005 | -1.98 billion current US$ | +154.9% |
| 2006 | -2.92 billion current US$ | +47.7% |
| 2007 | -1.95 billion current US$ | -33.4% |
| 2008 | -377.26 million current US$ | -80.6% |
| 2009 | 1.06 billion current US$ | -380.5% |
| 2010 | 1.37 billion current US$ | +29.0% |
| 2011 | 1.20 billion current US$ | -12.3% |
| 2012 | 887.04 million current US$ | -25.9% |
| 2013 | 1.29 billion current US$ | +45.6% |
| 2014 | 1.18 billion current US$ | -8.6% |
| 2015 | 1.38 billion current US$ | +16.7% |
| 2016 | 1.52 billion current US$ | +10.5% |
| 2017 | 1.25 billion current US$ | -17.9% |
| 2018 | 1.07 billion current US$ | -14.4% |
| 2019 | 1.41 billion current US$ | +31.7% |
| 2020 | -83.19 million current US$ | -105.9% |
| 2021 | -394.00 million current US$ | +373.6% |
| 2022 | 126.73 million current US$ | -132.2% |
| 2023 | 225.18 million current US$ | +77.7% |
| 2024 | -420.50 million current US$ | -286.7% |
| 2025 | -872.02 million current US$ | +107.4% |
Iceland compared with similar countries
- Iceland's -872.02 million current US$ is below the median for high income countries, which is 3.43 billion current US$. (72 countries reporting)
- Iceland's -872.02 million current US$ is below the median for Europe & Central Asia, which is -50.32 million current US$, 17.3× the median. (52 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1986 | +10985.2% | 1.33 million current US$ | 147.13 million current US$ |
| 1993 | +1579.4% | -12.68 million current US$ | 187.57 million current US$ |
| 1981 | -1467.1% | -3.48 million current US$ | -54.51 million current US$ |
| 1998 | -1155.1% | 35.03 million current US$ | -369.64 million current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -25.43 million current US$ | -146.75 million current US$ | 70.78 million current US$ | 10 |
| 1980s | -1.37 million current US$ | -152.69 million current US$ | 147.13 million current US$ | 10 |
| 1990s | 1.97 million current US$ | -405.64 million current US$ | 317.69 million current US$ | 10 |
| 2000s | -782.01 million current US$ | -2.92 billion current US$ | 1.06 billion current US$ | 10 |
| 2010s | 1.25 billion current US$ | 887.04 million current US$ | 1.52 billion current US$ | 10 |
| 2020s | -236.30 million current US$ | -872.02 million current US$ | 225.18 million current US$ | 6 |
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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services in Iceland?
- External balance on goods and services in Iceland was -872.02 million current US$ 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 1.52 billion current US$ in 2016.
- What is the lowest external balance on goods and services recorded in Iceland?
- The lowest recorded value was -2.92 billion current US$ in 2006.
- How does Iceland rank for external balance on goods and services?
- Iceland ranks 111th out of 193 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 163.3%. 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 (current US$). Statizoid updates them automatically from the source API.
Download this data
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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 current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.