Iceland Current Account Balance
Current account balance as % of GDP BN.CAB.XOKA.GD.ZS
Iceland's current account balance was -3.57% in 2025, ranked 125th globally. This represents a 36.9% decrease from 2024. Data from World Bank, covering 1976–2025.
Overview
Iceland's current account balance stood at -3.57% in 2025, a decline of +0.96% from 2024. The IMF projects -3.57% by 2025. Iceland ranked 125th globally.
Iceland's Current Account Balance has exhibited significant fluctuations over the past five decades, with the country's most recent reading of -3.57 ranking it 125 globally. The indicator reached an all-time high of 9.10 in 2016, a year marked by a surge in tourism and strong export growth. Conversely, Iceland's Current Account Balance plunged to an all-time low of -22.95 in 2008, a year characterized by the global financial crisis and a collapse in the country's banking system. Notably, Iceland's current account balance is comparable to that of North Macedonia, which ranked slightly closer with a balance of -3.56. The country's Current Account Balance has largely recovered since its 2008 trough, but a decline in tourism due to the COVID-19 pandemic and a subsequent increase in import costs may yet impact the balance. A decline in the value of the Icelandic króna or a reduction in tourism-related expenses could alter the trajectory of Iceland's Current Account Balance in the coming years.
Data & projection
| Year | Current Account Balance | YoY 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% | - | - |
| 2025 | -3.57% | −0.96% | #125 |
| 2024 | -2.61% | −1.58% | #75 |
| 2023 | -1.00% | +0.71% | #100 |
| 2022 | -1.87% | +0.71% | #113 |
| 2021 | -2.57% | −4.44% | #89 |
| 2020 | 1.90% | −5.48% | #140 |
| 2019 | 7.36% | +2.93% | #175 |
| 2018 | 4.44% | −0.45% | #157 |
| 2017 | 4.93% | −3.99% | #167 |
| 2016 | 9.10% | +2.80% | #186 |
| 2015 | 6.30% | +1.30% | #175 |
| 2014 | 4.95% | −1.86% | #165 |
| 2013 | 6.82% | +9.73% | #173 |
| 2012 | -2.85% | +1.65% | #102 |
| 2011 | -4.48% | +1.37% | #88 |
Detected Pattern
Analysis
Iceland matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw current account balance improve within 24 months. View full analysis →
Frequently Asked Questions
Iceland's current account balance was -3.57% in 2025. Ranked 125th globally. This represents a 36.9% decrease from the previous year.
Iceland's current account balance peaked at 9.10% in 2016.
The lowest current account balance in Iceland was -22.95% in 2008.
Iceland ranks 125th globally in current account balance as of 2025.
The World Bank indicator code is BN.CAB.XOKA.GD.ZS. Data sourced from World Bank.
Iceland's current account balance is projected to reach -3.57% by 2025 based on IMF projection.
The current account balance of Iceland in 2025 was -3.57%. This ranks 125th in the world.
Cite this page
@misc{historysaid_iceland_current-account,
title = {Iceland Current Account Balance},
url = {https://historysaid.com/iceland/current-account/},
publisher = {HistorySaid},
year = {2026}
}