03 December 2018

Current account surplus 76.5 b.kr. in Q3 2018

Central Bank of Iceland

The current account surplus measured 76.5 b.kr. in Q3/2018. There was a deficit on goods trade in the amount of 43.7 b.kr and a 123.7 b.kr. surplus on services trade, as well as a 2.4 b.kr. surplus on primary income and a 6.0 b.kr. deficit on secondary income. According to the preliminary figures, foreign assets totalled 3,380 b.kr. at the end of the quarter, while foreign liabilities totalled 3,012 b.kr.

The net external position was therefore positive by 368 b.kr., or 13.3% of GDP, and improved by 162 b.kr., or 5.9% of GDP during the quarter. Net financial transactions improved the international investment position by 86 b.kr. during the quarter, as foreign assets increased by 17 b.kr. as a result of financial transactions, while liabilities declined by 69 b.kr. Exchange rate movements and price changes had a positive impact on the external position in the amount of 79 b.kr. This is due to a 4% depreciation of the króna in trade-weighted terms and a rise of just over 4% in foreign securities market prices during the quarter.

See the whole press release with tables: Current account surplus 76.5 b.kr. in Q3/2018 – net IIP positive by 368 b.kr.


03. December 2018
Press release no. 17/2018.