Net errors and omissions in Iceland
Iceland: Net errors and omissions was -167.65 million BoP, current US$ in 2025. ◆ Volatile
Latest (2025)
-167.65 million BoP, current US$
Change on year
down 115.0%
World rank
132nd
of 199 countries
All-time high
6.16 billion BoP, current US$
in 2009
All-time low
-9.59 billion BoP, current US$
in 2008
Years of data
50
1976–2025
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$, in 2008.
Iceland ranks 132nd of 199 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Net errors and omissions in Iceland, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1976 | -5.10 million BoP, current US$ | — |
| 1977 | -20.30 million BoP, current US$ | +298.0% |
| 1978 | -33.30 million BoP, current US$ | +64.0% |
| 1979 | -40.70 million BoP, current US$ | +22.2% |
| 1980 | -53.80 million BoP, current US$ | +32.2% |
| 1981 | -16.80 million BoP, current US$ | -68.8% |
| 1982 | -50.40 million BoP, current US$ | +200.0% |
| 1983 | 1.90 million BoP, current US$ | -103.8% |
| 1984 | -27.10 million BoP, current US$ | -1526.3% |
| 1985 | -53.50 million BoP, current US$ | +97.4% |
| 1986 | -30.10 million BoP, current US$ | -43.7% |
| 1987 | -75.40 million BoP, current US$ | +150.5% |
| 1988 | 5.50 million BoP, current US$ | -107.3% |
| 1989 | 31.60 million BoP, current US$ | +474.5% |
| 1990 | -27.82 million BoP, current US$ | -188.0% |
| 1991 | 16.08 million BoP, current US$ | -157.8% |
| 1992 | 714,874 BoP, current US$ | -95.6% |
| 1993 | -46.71 million BoP, current US$ | -6634.1% |
| 1994 | 27.07 million BoP, current US$ | -157.9% |
| 1995 | -45.87 million BoP, current US$ | -269.5% |
| 1996 | 17.28 million BoP, current US$ | -137.7% |
| 1997 | -124.71 million BoP, current US$ | -821.5% |
| 1998 | 59.05 million BoP, current US$ | -147.4% |
| 1999 | -174.43 million BoP, current US$ | -395.4% |
| 2000 | -187.71 million BoP, current US$ | +7.6% |
| 2001 | 246.90 million BoP, current US$ | -231.5% |
| 2002 | -82.06 million BoP, current US$ | -133.2% |
| 2003 | 458.04 million BoP, current US$ | -658.2% |
| 2004 | -312.26 million BoP, current US$ | -168.2% |
| 2005 | 346.74 million BoP, current US$ | -211.0% |
| 2006 | -1.79 billion BoP, current US$ | -616.7% |
| 2007 | -1.17 billion BoP, current US$ | -34.8% |
| 2008 | -9.59 billion BoP, current US$ | +720.6% |
| 2009 | 6.16 billion BoP, current US$ | -164.3% |
| 2010 | 164.01 million BoP, current US$ | -97.3% |
| 2011 | 1.45 billion BoP, current US$ | +782.9% |
| 2012 | -490.04 million BoP, current US$ | -133.8% |
| 2013 | 142.42 million BoP, current US$ | -129.1% |
| 2014 | -70.49 million BoP, current US$ | -149.5% |
| 2015 | -246.21 million BoP, current US$ | +249.3% |
| 2016 | 106.96 million BoP, current US$ | -143.4% |
| 2017 | -655.23 million BoP, current US$ | -712.6% |
| 2018 | 376.00 million BoP, current US$ | -157.4% |
| 2019 | -185.08 million BoP, current US$ | -149.2% |
| 2020 | 744.31 million BoP, current US$ | -502.2% |
| 2021 | 552.54 million BoP, current US$ | -25.8% |
| 2022 | 225.95 million BoP, current US$ | -59.1% |
| 2023 | -505.07 million BoP, current US$ | -323.5% |
| 2024 | 1.11 billion BoP, current US$ | -320.6% |
| 2025 | -167.65 million BoP, current US$ | -115.0% |
Iceland compared with similar countries
- Iceland's -167.65 million BoP, current US$ is below the median for high income countries, which is -132.48 million BoP, current US$, 1.3× the median. (71 countries reporting)
- Iceland's -167.65 million BoP, current US$ is below the median for Europe & Central Asia, which is 27.46 million BoP, current US$. (50 countries reporting)
Biggest year-on-year movements
Years where Net errors and omissions in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1993 | -6634.1% | 714,874 BoP, current US$ | -46.71 million BoP, current US$ |
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
- 129 Cayman Islands -152.97 million BoP, current US$ compare
- 130 Ghana -162.81 million BoP, current US$ compare
- 131 Malta -165.29 million BoP, current US$ compare
- 133 Paraguay -185.75 million BoP, current US$ compare
- 134 Algeria -192.96 million BoP, current US$ compare
- 135 New Caledonia -193.68 million BoP, current US$ 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)
- 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$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is net errors and omissions in Iceland?
- Net errors and omissions in Iceland was -167.65 million BoP, current US$ 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 132nd out of 199 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.
Download this data
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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.