Net errors and omissions in Iceland
Iceland: Net errors and omissions was -167.65 million BoP, current US$ in 2025. ◆ Volatile
Net errors and omissions in Iceland, 1976–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
Iceland recorded -167.65 million BoP, current US$ for net errors and omissions in 2025.
The figure is down 115.0% on the previous year and up 31.9% over ten years.
Over the whole period, net errors and omissions in Iceland peaked at 6.16 billion BoP, current US$ in 2009 and was at its lowest, -9.59 billion BoP, current US$, in 2008.
Iceland ranks 130th of 197 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -24.85 million BoP, current US$ | -40.70 million BoP, current US$ | -5.10 million BoP, current US$ | 4 |
| 1980s | -26.81 million BoP, current US$ | -75.40 million BoP, current US$ | 31.60 million BoP, current US$ | 10 |
| 1990s | -29.93 million BoP, current US$ | -174.43 million BoP, current US$ | 59.05 million BoP, current US$ | 10 |
| 2000s | -591.51 million BoP, current US$ | -9.59 billion BoP, current US$ | 6.16 billion BoP, current US$ | 10 |
| 2010s | 59.04 million BoP, current US$ | -655.23 million BoP, current US$ | 1.45 billion BoP, current US$ | 10 |
| 2020s | 327.42 million BoP, current US$ | -505.07 million BoP, current US$ | 1.11 billion BoP, current US$ | 6 |
Countries ranked near Iceland
- 127 Cayman Islands -152.97 million BoP, current US$ compare
- 128 Ghana -162.81 million BoP, current US$ compare
- 131 Paraguay -185.75 million BoP, current US$ compare
- 132 Algeria -192.96 million BoP, current US$ compare
- 133 New Caledonia -193.68 million 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 net errors and omissions in Iceland?
- Net errors and omissions in Iceland was -167.65 million BoP, current US$ in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net errors and omissions recorded in Iceland?
- The highest recorded value was 6.16 billion BoP, current US$ in 2009.
- What is the lowest net errors and omissions recorded in Iceland?
- The lowest recorded value was -9.59 billion BoP, current US$ in 2008.
- How does Iceland rank for net errors and omissions?
- Iceland ranks 130th out of 197 countries with data for 2025.
- Is net errors and omissions rising or falling in Iceland?
- Over the last ten years it is up 31.9%. 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 Net errors and omissions (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. 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.