02.09.2014

Balance of payments in the second quarter of 2014 and the external position - corrected figures

The Central Bank of Iceland posts here again the press release on the balance of payments published earlier today with corrected figures. The figures are on the current account balance excluding deposit institutions in winding-up proceedings and on the sign of the current balance itself. The press release is posted here with the corrected figures:



The Central Bank of Iceland has published on its website the preliminary statistics for the balance of payments in the second quarter of 2014, and for the external position at the end of the quarter.

The Bank has adopted new standards for the compilation of statistics for the balance of payments and external position. This is the first publication using the new standards. The main changes in the new standards pertain to goods and services; primary income and secondary income; direct investments; special purpose entities; and insurance, pension, and standardised guarantee schemes. Further discussion of the changes can be found in an Informational Report published by the Central Bank today.

The current account balance was positive by 2.9 b.kr. during the quarter, as opposed to a negative balance of 5.6 b.kr. in the preceding quarter. The balance on goods was negative by 18.9 b.kr., while the balance on services was positive by 34.2 b.kr. The balance on primary income was negative by 8.9 b.kr., and secondary income was negative in the amount of 3.4 b.kr. The current account balance excluding deposit institutions in winding-up proceedings was positive by 12.8 b.kr., as opposed to 2.9 b.kr. in the preceding quarter.

See the whole press release here: Balance of payments secondquarter 2014.pdf

 

No. 29/2014
2 September 2014

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