Current account balance (credit less debit), Net (credits less) in Iceland
Iceland: Current account balance (credit less debit), Net (credits less) was -866.97 million in 2024. ◆ Volatile
Current account balance (credit less debit), Net (credits less debits) in Iceland, 2005–2024
Source: International Monetary Fund.
Analysis
In 2024, current account balance (credit less debit), net (credits less debits) in Iceland stood at -866.97 million.
That represents a change of down 172.7% on the previous year and down 197.1% over ten years.
Over the whole period, current account balance (credit less debit), net (credits less debits) in Iceland peaked at 1.92 billion in 2016 and was at its lowest, -4.19 billion, in 2008.
That places Iceland 128th out of 198 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance (credit less debit), Net (credits less) in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | -2.67 billion | — |
| 2006 | -4.01 billion | +50.2% |
| 2007 | -2.99 billion | -25.3% |
| 2008 | -4.19 billion | +39.9% |
| 2009 | -1.17 billion | -72.0% |
| 2010 | -821.22 million | -29.9% |
| 2011 | -689.66 million | -16.0% |
| 2012 | -426.32 million | -38.2% |
| 2013 | 1.11 billion | -359.9% |
| 2014 | 892.75 million | -19.4% |
| 2015 | 1.12 billion | +25.0% |
| 2016 | 1.92 billion | +71.9% |
| 2017 | 1.24 billion | -35.6% |
| 2018 | 1.18 billion | -4.1% |
| 2019 | 1.84 billion | +55.3% |
| 2020 | 418.47 million | -77.3% |
| 2021 | -674.91 million | -261.3% |
| 2022 | -545.12 million | -19.2% |
| 2023 | -317.92 million | -41.7% |
| 2024 | -866.97 million | +172.7% |
Iceland compared with similar countries
- Iceland's -866.97 million is below the median for high income countries, which is 547.38 million. (72 countries reporting)
- Iceland's -866.97 million is below the median for Europe & Central Asia, which is -449.44 million, 1.9× the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -3.01 billion | -4.19 billion | -1.17 billion | 5 |
| 2010s | 735.72 million | -821.22 million | 1.92 billion | 10 |
| 2020s | -397.29 million | -866.97 million | 418.47 million | 5 |
Countries ranked near Iceland
- 125 Botswana -821.14 million compare
- 126 Madagascar -829.38 million compare
- 127 Fiji -865.66 million compare
- 129 Kosovo -932.48 million compare
- 130 Burkina Faso -1.02 billion compare
- 131 Bosnia and Herzegovina -1.03 billion compare
More financial sector data for Iceland
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0025 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 243.62 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0018 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 177.89 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0025 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 243.62 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is current account balance (credit less debit), net (credits less debits) in Iceland?
- Current account balance (credit less debit), net (credits less debits) in Iceland was -866.97 million in 2024, according to International Monetary Fund.
- What is the highest current account balance (credit less debit), net (credits less debits) recorded in Iceland?
- The highest recorded value was 1.92 billion in 2016.
- What is the lowest current account balance (credit less debit), net (credits less debits) recorded in Iceland?
- The lowest recorded value was -4.19 billion in 2008.
- How does Iceland rank for current account balance (credit less debit), net (credits less debits)?
- Iceland ranks 128th out of 198 countries with data for 2024.
- Is current account balance (credit less debit), net (credits less debits) rising or falling in Iceland?
- Over the last ten years it is down 197.1%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from International Monetary Fund, published as part of Current account balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
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About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.