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Current account balance

(billion US dollars)

In 2017, current account balance in Iceland was 0.9 billion US dollars. In the ranking by current account balance including 189 countries, Iceland has the 51st rank that is close to the positions of such countries as Uruguay and the Estonia. Compared to Germany which at the top of the ranking with current account balance of 291 billion US dollars in 2017, Iceland has 99.71 % percent lower current account balance.

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What is current account balance?

Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.