02.09.2019

Current account surplus 11.1 b.kr. in Q2/2019 – net IIP positive by 628 b.kr.

Central Bank of Iceland

The current account surplus measured 11.1 b.kr. in Q2/2019. There was a deficit on goods trade in the amount of 42.7 b.kr. and a 52.1 b.kr. surplus on services trade, There was a 8.6 b.kr. surplus on primary income and a 6.9 b.kr. deficit on secondary income (see table below).

This is included in new information published on the Central Bank of Iceland website, showing the preliminary balance of payments in Q2/2019 and the external position of the economy at the end of the quarter.

According to the preliminary figures, foreign assets totalled 3,878 b.kr. at the end of the quarter, while foreign liabilities totalled 3,249 b.kr. The net external position was therefore positive by 628 b.kr., or 21.8% of GDP, and improved by 44 b.kr., or 1.5% of GDP during the quarter. Net financial transactions improved the international investment position by 9 b.kr. during the quarter, as foreign assets increased by 56 b.kr. and foreign liabilities by 47 b.kr. as a result of the transactions. Exchange rate movements and price changes had a positive impact on the external position in the amount of 61 b.kr. This is due mainly to a 2.8% rise in foreign securities prices during the quarter, as well as a 2.2% depreciation of the króna in trade-weighted terms.

 

No. 18/2019
2 September 2019

 

See press release no. 18/2019, 2 September 2019: Current account surplus 11.1 b.kr. in Q2/2019 - net IIP positive by 628 b.kr.


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