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Iceland – Current Account Balance

Name: Iceland Current Account Balance
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

Current account balance as a share of GDP. Summarizes net trade in goods, services, income, and transfers with the rest of the world. · World Bank

-2.61% −1.60% from 2023 Global rank: 50th · all-time high: 9.10% (2016)

Iceland's current account balance was -2.61% in 2024, a decrease of +1.60% from -1.00% in 2023. This ranked 50th globally. The all-time high was 9.10% in 2016.

APA

Iceland Current Account Balance. HistorySaid. Retrieved March 12, 2026, from https://historysaid.com/iceland/current-account

BibTeX

@misc{historysaid_iceland_current-account,
  title = {Iceland Current Account Balance},
  url = {https://historysaid.com/iceland/current-account},
  publisher = {HistorySaid},
  year = {2026}
}

Data & Projection▾

Iceland Current Account Balance – Historical Data
Year	Value	Change	Rank
2030* IMF	0.71%	–	–
2029* IMF	0.42%	–	–
2028* IMF	0.08%	–	–
2027* IMF	-0.32%	–	–
2026* IMF	-1.12%	–	–
2025* IMF	-3.57%	–	–
2024	-2.61%	−1.60%	50th
2023	-1.00%	+0.87%	86th
2022	-1.87%	+0.70%	106th
2021	-2.57%	−4.47%	85th
2020	1.90%	−5.47%	129th
2019	7.36%	+2.92%	166th
2018	4.44%	−0.49%	151st
2017	4.93%	−4.17%	158th
2016	9.10%	+2.79%	177th
2015	6.30%	+1.36%	166th
2014	4.95%	−1.87%	159th
2013	6.82%	+9.67%	164th
2012	-2.85%	+1.63%	100th
2011	-4.48%	+1.42%	86th
2010	-5.90%	+2.97%	65th
2009	-8.87%	+14.09%	39th
2008	-22.95%	−9.32%	10th
2007	-13.63%	+9.03%	30th
2006	-22.66%	−7.11%	6th
2005	-15.55%	−5.58%	13th
2004	-9.97%	−5.15%	18th
2003	-4.81%	−6.17%	53rd
2002	1.35%	+5.82%	110th
2001	-4.46%	+5.44%	46th
2000	-9.90%	−3.00%	17th
1999	-6.90%	+0.10%	36th
1998	-7.01%	−4.77%	40th
1997	-2.24%	+0.06%	88th
1996	-2.29%	−2.54%	84th
1995	0.25%	−1.50%	111th
1994	1.75%	+1.18%	116th
1993	0.57%	+2.76%	106th
1992	-2.19%	+1.58%	78th
1991	-3.76%	−1.77%	55th
1990	-2.00%	−0.26%	73rd
1989	-1.74%	+1.92%	80th
1988	-3.66%	−0.36%	52nd
1987	-3.30%	−3.69%	54th
1986	0.39%	+4.11%	96th
1985	-3.72%	+0.75%	53rd
1984	-4.47%	−2.51%	44th
1983	-1.96%	+5.90%	79th
1982	-7.86%	−3.78%	38th
1981	-4.08%	−1.90%	75th
1980	-2.18%	−1.54%	74th
1979	-0.64%	−1.41%	67th
1978	0.77%	+2.89%	80th
1977	-2.12%	−0.73%	54th
1976	-1.38%	–	42nd

Show all years (1976–2024)

* IMF World Economic Outlook projection

Detected Pattern▾

Export Boom Cycle

Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.

Reserves YoY +43.3% GDP growth 6.2% C/A balance 9.1%

This pattern occurred 682 times in history, 460 successful

United Arab Emirates 2024

Reserves YoY

+25.6%

GDP growth

4.0%

C/A balance

14.5%

Guatemala 2024

Reserves YoY

+14.6%

GDP growth

3.7%

C/A balance

2.9%

Cambodia 2024

Reserves YoY

+12.6%

GDP growth

6.0%

C/A balance

0.5%

Sri Lanka 2024

Reserves YoY

+38.3%

GDP growth

5.0%

C/A balance

1.2%

Lesotho 2024

Reserves YoY

+18.0%

GDP growth

2.9%

C/A balance

3.9%

Lithuania 2024

Reserves YoY

+20.1%

GDP growth

2.8%

C/A balance

3.3%

HistorySaid – pattern alert

Iceland matched the Export Boom Cycle pattern in 2016. Historically, 67% of countries showing this pattern (460 out of 682) saw current account balance improve within 24 months. View full analysis →