Iceland - External balance on goods and services
External balance on goods and services (current US$)
The latest value for External balance on goods and services (current US$) in Iceland was ($159,509,700) as of 2020. Over the past 50 years, the value for this indicator has fluctuated between $1,379,637,000 in 2016 and ($2,921,080,000) in 2006.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1970 | $8,209,091 |
| 1971 | ($43,385,230) |
| 1972 | ($15,764,790) |
| 1973 | ($24,512,370) |
| 1974 | ($146,748,400) |
| 1975 | ($117,630,400) |
| 1976 | $4,439,809 |
| 1977 | ($19,131,090) |
| 1978 | $70,782,710 |
| 1979 | $29,433,920 |
| 1980 | ($3,478,406) |
| 1981 | ($54,508,460) |
| 1982 | ($152,695,000) |
| 1983 | $55,700,320 |
| 1984 | ($4,574,474) |
| 1985 | $1,327,224 |
| 1986 | $147,128,100 |
| 1987 | ($62,673,440) |
| 1988 | ($60,101,110) |
| 1989 | $120,210,500 |
| 1990 | $76,457,500 |
| 1991 | ($91,449,840) |
| 1992 | ($12,678,580) |
| 1993 | $187,567,000 |
| 1994 | $317,688,800 |
| 1995 | $245,753,300 |
| 1996 | $36,587,970 |
| 1997 | $35,026,340 |
| 1998 | ($369,640,800) |
| 1999 | ($405,640,200) |
| 2000 | ($620,892,800) |
| 2001 | ($70,246,020) |
| 2002 | $148,944,200 |
| 2003 | ($337,728,300) |
| 2004 | ($775,868,300) |
| 2005 | ($1,977,500,000) |
| 2006 | ($2,921,080,000) |
| 2007 | ($1,946,714,000) |
| 2008 | ($377,257,500) |
| 2009 | $1,058,255,000 |
| 2010 | $1,353,949,000 |
| 2011 | $1,169,382,000 |
| 2012 | $850,665,500 |
| 2013 | $1,242,594,000 |
| 2014 | $1,138,635,000 |
| 2015 | $1,311,204,000 |
| 2016 | $1,379,637,000 |
| 2017 | $1,109,195,000 |
| 2018 | $873,117,100 |
| 2019 | $1,126,296,000 |
| 2020 | ($159,509,700) |
External balance on goods and services (current LCU)
The value for External balance on goods and services (current LCU) in Iceland was -21,601,080,000 as of 2020. As the graph below shows, over the past 50 years this indicator reached a maximum value of 172,972,000,000 in 2015 and a minimum value of -205,001,000,000 in 2006.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1970 | 7,224,000 |
| 1971 | -38,179,000 |
| 1972 | -13,914,000 |
| 1973 | -22,093,000 |
| 1974 | -146,675,000 |
| 1975 | -180,798,000 |
| 1976 | 8,088,000 |
| 1977 | -38,046,000 |
| 1978 | 191,899,000 |
| 1979 | 103,784,000 |
| 1980 | -16,688,000 |
| 1981 | -393,780,000 |
| 1982 | -1,886,012,000 |
| 1983 | 1,383,752,000 |
| 1984 | -144,982,000 |
| 1985 | 55,090,000 |
| 1986 | 6,047,583,000 |
| 1987 | -2,424,033,000 |
| 1988 | -2,585,189,000 |
| 1989 | 6,857,023,000 |
| 1990 | 4,456,234,000 |
| 1991 | -5,395,202,000 |
| 1992 | -729,600,000 |
| 1993 | 12,680,130,000 |
| 1994 | 22,220,550,000 |
| 1995 | 15,898,200,000 |
| 1996 | 2,433,100,000 |
| 1997 | 2,483,518,000 |
| 1998 | -26,229,080,000 |
| 1999 | -29,342,100,000 |
| 2000 | -48,812,110,000 |
| 2001 | -6,843,690,000 |
| 2002 | 13,652,480,000 |
| 2003 | -25,906,800,000 |
| 2004 | -54,459,510,000 |
| 2005 | -124,546,000,000 |
| 2006 | -205,001,000,000 |
| 2007 | -124,697,000,000 |
| 2008 | -33,179,000,000 |
| 2009 | 130,841,000,000 |
| 2010 | 165,509,000,000 |
| 2011 | 135,595,000,000 |
| 2012 | 106,404,000,000 |
| 2013 | 151,819,000,000 |
| 2014 | 132,955,000,000 |
| 2015 | 172,972,000,000 |
| 2016 | 166,676,000,000 |
| 2017 | 118,506,000,000 |
| 2018 | 94,558,730,000 |
| 2019 | 138,091,000,000 |
| 2020 | -21,601,080,000 |
External balance on goods and services (constant LCU)
The value for External balance on goods and services (constant LCU) in Iceland was 4,900,179,000 as of 2020. As the graph below shows, over the past 50 years this indicator reached a maximum value of 237,531,000,000 in 2013 and a minimum value of -495,507,000,000 in 2006.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in constant local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1970 | -12,228,730,000 |
| 1971 | -75,342,870,000 |
| 1972 | -52,206,950,000 |
| 1973 | -85,276,920,000 |
| 1974 | -127,705,000,000 |
| 1975 | -80,110,270,000 |
| 1976 | -42,259,860,000 |
| 1977 | -78,517,530,000 |
| 1978 | -51,741,300,000 |
| 1979 | -41,753,090,000 |
| 1980 | -43,920,200,000 |
| 1981 | -59,826,230,000 |
| 1982 | -87,419,950,000 |
| 1983 | -16,065,070,000 |
| 1984 | -40,259,270,000 |
| 1985 | -38,417,780,000 |
| 1986 | -19,615,770,000 |
| 1987 | -105,432,000,000 |
| 1988 | -96,486,360,000 |
| 1989 | -33,203,950,000 |
| 1990 | -37,765,110,000 |
| 1991 | -86,236,550,000 |
| 1992 | -65,458,550,000 |
| 1993 | -6,753,340,000 |
| 1994 | 15,297,430,000 |
| 1995 | -10,538,670,000 |
| 1996 | -40,492,920,000 |
| 1997 | -53,162,750,000 |
| 1998 | -166,307,000,000 |
| 1999 | -173,067,000,000 |
| 2000 | -206,947,000,000 |
| 2001 | -96,487,280,000 |
| 2002 | -57,803,240,000 |
| 2003 | -120,214,000,000 |
| 2004 | -176,422,000,000 |
| 2005 | -359,507,000,000 |
| 2006 | -495,507,000,000 |
| 2007 | -315,017,000,000 |
| 2008 | -57,309,540,000 |
| 2009 | 198,874,000,000 |
| 2010 | 191,029,000,000 |
| 2011 | 172,834,000,000 |
| 2012 | 171,206,000,000 |
| 2013 | 237,531,000,000 |
| 2014 | 196,671,000,000 |
| 2015 | 172,972,000,000 |
| 2016 | 154,645,000,000 |
| 2017 | 83,537,970,000 |
| 2018 | 95,575,800,000 |
| 2019 | 140,731,000,000 |
| 2020 | 4,900,179,000 |
External balance on goods and services (% of GDP)
External balance on goods and services (% of GDP) in Iceland was -0.73 as of 2020. Its highest value over the past 50 years was 9.85 in 2010, while its lowest value was -16.73 in 2006.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Source: World Bank national accounts data, and OECD National Accounts data files.
See also:
| Year | Value |
|---|---|
| 1970 | 1.56 |
| 1971 | -6.47 |
| 1972 | -1.88 |
| 1973 | -2.12 |
| 1974 | -9.69 |
| 1975 | -8.36 |
| 1976 | 0.27 |
| 1977 | -0.87 |
| 1978 | 2.82 |
| 1979 | 1.03 |
| 1980 | -0.10 |
| 1981 | -1.56 |
| 1982 | -4.76 |
| 1983 | 2.01 |
| 1984 | -0.16 |
| 1985 | 0.04 |
| 1986 | 3.69 |
| 1987 | -1.14 |
| 1988 | -0.98 |
| 1989 | 2.12 |
| 1990 | 1.18 |
| 1991 | -1.32 |
| 1992 | -0.18 |
| 1993 | 3.02 |
| 1994 | 4.97 |
| 1995 | 3.45 |
| 1996 | 0.49 |
| 1997 | 0.46 |
| 1998 | -4.35 |
| 1999 | -4.52 |
| 2000 | -6.88 |
| 2001 | -0.85 |
| 2002 | 1.60 |
| 2003 | -2.95 |
| 2004 | -5.61 |
| 2005 | -11.73 |
| 2006 | -16.73 |
| 2007 | -8.99 |
| 2008 | -2.09 |
| 2009 | 8.04 |
| 2010 | 9.85 |
| 2011 | 7.68 |
| 2012 | 5.77 |
| 2013 | 7.71 |
| 2014 | 6.37 |
| 2015 | 7.49 |
| 2016 | 6.64 |
| 2017 | 4.49 |
| 2018 | 3.32 |
| 2019 | 4.53 |
| 2020 | -0.73 |
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: National accounts
