Services balance (credit less debit), Net (credits less debits) in Iceland
Iceland: Services balance (credit less debit), Net (credits less debits) was 1.96 billion in 2024. ◆ Volatile
Services balance (credit less debit), Net (credits less debits) in Iceland, 2005–2024
Source: International Monetary Fund.
Analysis
The most recent figure for services balance (credit less debit), net (credits less debits) in Iceland is 1.96 billion, measured in 2024.
The figure is down 18.2% on the previous year and up 57.7% over ten years.
Over the whole period, services balance (credit less debit), net (credits less debits) in Iceland peaked at 2.73 billion in 2017 and was at its lowest, -232.79 million, in 2006.
That places Iceland 55th out of 197 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.
Services balance (credit less debit), Net (credits less debits) in Iceland, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | -193.06 million | — |
| 2006 | -232.79 million | +20.6% |
| 2007 | 135.53 million | -158.2% |
| 2008 | 353.18 million | +160.6% |
| 2009 | 705.78 million | +99.8% |
| 2010 | 843.36 million | +19.5% |
| 2011 | 886.62 million | +5.1% |
| 2012 | 794.37 million | -10.4% |
| 2013 | 1.23 billion | +55.0% |
| 2014 | 1.24 billion | +0.9% |
| 2015 | 1.61 billion | +29.5% |
| 2016 | 2.30 billion | +43.3% |
| 2017 | 2.73 billion | +18.5% |
| 2018 | 2.49 billion | -8.9% |
| 2019 | 2.22 billion | -10.8% |
| 2020 | 514.75 million | -76.8% |
| 2021 | 652.77 million | +26.8% |
| 2022 | 1.57 billion | +141.3% |
| 2023 | 2.39 billion | +51.9% |
| 2024 | 1.96 billion | -18.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 153.73 million | -232.79 million | 705.78 million | 5 |
| 2010s | 1.64 billion | 794.37 million | 2.73 billion | 10 |
| 2020s | 1.42 billion | 514.75 million | 2.39 billion | 5 |
Countries ranked near Iceland
More financial sector data for Iceland
- Total reserves in months of imports, annual growth rate 10.27 % change on previous year (2025)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 15.36 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.1281 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 12,597 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate 13.81 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 13,870 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 15 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 14,388 SDR per person (2025)
Frequently asked questions
- What is services balance (credit less debit), net (credits less debits) in Iceland?
- Services balance (credit less debit), net (credits less debits) in Iceland was 1.96 billion in 2024, according to International Monetary Fund.
- What is the highest services balance (credit less debit), net (credits less debits) recorded in Iceland?
- The highest recorded value was 2.73 billion in 2017.
- What is the lowest services balance (credit less debit), net (credits less debits) recorded in Iceland?
- The lowest recorded value was -232.79 million in 2006.
- How does Iceland rank for services balance (credit less debit), net (credits less debits)?
- Iceland ranks 55th out of 197 countries with data for 2024.
- Is services balance (credit less debit), net (credits less debits) rising or falling in Iceland?
- Over the last ten years it is up 57.7%. 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 Services 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.