Net errors and omissions (BoP, current US$) in Iceland
Iceland: Net errors and omissions (BoP, current US$) was 891.95 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$.
Analysis
Iceland recorded 891.95 million BoP, current US$ for net errors and omissions in 2025.
The figure is down 7.3% on the previous year and up 462.3% 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$, in 2008.
Iceland ranks 35th of 199 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Net errors and omissions (BoP, current US$) 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 | 224.69 million BoP, current US$ | -59.3% |
| 2023 | -660.43 million BoP, current US$ | -393.9% |
| 2024 | 961.88 million BoP, current US$ | -245.6% |
| 2025 | 891.95 million BoP, current US$ | -7.3% |
Iceland compared with similar countries
- Iceland's 891.95 million BoP, current US$ is above the median for high income countries, which is -132.48 million BoP, current US$. (71 countries reporting)
- Iceland's 891.95 million BoP, current US$ is above the median for Europe & Central Asia, which is 28.51 million BoP, current US$, 31.3× the median. (50 countries reporting)
Biggest year-on-year movements
Years where Net errors and omissions (BoP, current US$) 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 | 452.49 million BoP, current US$ | -660.43 million BoP, current US$ | 961.88 million BoP, current US$ | 6 |
Countries ranked near Iceland
More economy & growth data for Iceland
- Real gdp growth, annual growth rate -125.5 % change on previous year (2024)
- 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)
- SDRs holdings, US dollar, annual growth rate 5.55 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0153 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 1,500 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.5124 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0111 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 1,095 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
Frequently asked questions
- What is net errors and omissions in Iceland?
- Net errors and omissions in Iceland was 891.95 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 35th 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 462.3%. 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.