Services balance (credit less debit), Net (credits less debits) (US) in Iceland
Iceland: Services balance (credit less debit), Net (credits less debits) (US) 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) (US) 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% |
Iceland compared with similar countries
- Iceland's 1.96 billion is above the median for high income countries, which is 910.63 million, 2.2× the median. (72 countries reporting)
- Iceland's 1.96 billion is below the median for Europe & Central Asia, which is 2.79 billion, 70% of the median. (50 countries reporting)
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
- 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 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.