Iceland Current Account Deficit Widens Sharply

The current account deficit in Iceland widened sharply to ISK 95.2 billion in the fourth quarter of 2024 from ISK 17.5 billion in the corresponding period of the previous year.

The primary income account posted a deficit of ISK 10.5 billion, swinging from a surplus of ISK 39.1 billion in Q4 of 2023, while the secondary income deficit rose to ISK 15.1 billion from ISK 13 billion.

In addition, goods account deficit increased significantly to ISK 104.1 billion in Q4 of 2024 from ISK 77.8 billion in the same period a year earlier.

Meanwhile, services account surplus widened slightly to ISK 34.5 billion from ISK 34.1 billion.