Current Account in Iceland

Iceland Current Account (USD bn) | Economic News & Forecasts

Iceland - Current Account (billions of U.S. Dollars)

The economy appears to have taken a hit in the first quarter, reflecting a poor performance in the key sectors of fishing and tourism. The total fish catch nosedived through the quarter as vessels failed to find any capelin, one of the industry’s primary exports by volume. Turning to tourism, data shows a slight decline in overnight stays in January and February, while March traffic data for the island’s main airport corroborates a slowdown in the sector in the quarter. Moreover, the tourism sector’s woes will likely be amplified, in Q2 and beyond, by the recent collapse of low-cost airline WOW Air on 28 March. The Central Bank said the collapse will likely dent economic growth noticeably, though it does not pose a serious risk to financial stability.

Iceland - Current Account (USD bn) Data

2013  2014  2015  2016  2017  
Current Account Balance (USD bn)0.9  0.7  0.9  1.5  0.9  

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Iceland Current Account (USD bn) Chart

Iceland Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Iceland.

Iceland Facts

Bond Yield4.25-0.99 %May 13
Exchange Rate122.8-0.52 %May 13
Stock Market1,477-0.32 %May 13

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