Balance of payments

02. March

Q4/2019

The current account surplus measured 51 b.kr. in Q4/2019, as compared with a surplus of 62.9 b.kr. in the preceding quarter.

There was a deficit on goods trade in the amount of 11.8 b.kr and a 55.7 b.kr. surplus on services trade, as well as a 9.8 b.kr. surplus on primary income and a 2.6 b.kr. deficit on secondary income.

The current account surplus was 46.1 b.kr. larger than in the same quarter of the prior year, owing to a considerably more favorable goods account balance in the amount of 25.8 b.kr. By the same token, the balance on services was more positive by 19.4 b.kr., with services revenues 10 b.kr. higher and services expenditures 9.4 b.kr. lower.[1] Primary income was less favorable, however, by 3.5 b.kr., whereas secondary income was more favorable by 4.4 b.kr.

The current account surplus for 2019 as a whole amounted to 172.5 b.kr., as compared with a surplus of 85.6 b.kr. in 2018. The deficit on goods trade totaled 99 b.kr., while the surplus on services trade totaled 239 b.kr. The surplus on primary income amounted to 54.7 b.kr., while there was a 22.3 b.kr. deficit on secondary income.



 [1] See the Statistics Iceland website.

 

 


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