Current account balance (credit less debit), Net (credits less debits) in Iceland
Iceland: Current account balance (credit less debit), Net (credits less debits) 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 debits) 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% |
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
- Net domestic credit (current LCU), per capita 11.64 million current LCU per person (2025)
- Net domestic credit (current LCU), per unit of GDP 118.35 current LCU per US$ of GDP (2025)
- Net domestic credit (current LCU), annual growth rate 4.25 % change on previous year (2025)
- Gold reserves at 35 SDRs per ounce 2.23 million SDR (2025)
- Gold reserves at market value 203.48 million SDR (2025)
- Reserves excluding gold, foreign exchange 4.94 billion SDR (2025)
- Reserves excluding gold 5.44 billion SDR (2025)
- Total reserves (gold at market value) 5.65 billion SDR (2025)
- Total reserves (gold at national valuation) 5.64 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 14,384 SDR per person (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.