FX.co ★ Iceland Current Account Deficit Widens in Q1

Iceland's current account deficit surged to ISK 59.5 billion in the first quarter of 2025, up from ISK 37.6 billion during the same period the previous year. The deficit in the goods account saw a notable rise, reaching ISK 85.3 billion compared to ISK 51.8 billion over the corresponding timeframe in the prior year. Concurrently, the secondary income deficit expanded to ISK 12.3 billion from ISK 10.4 billion. On a positive note, the services account surplus experienced a modest growth, reaching ISK 19.7 billion from ISK 15.7 billion. Furthermore, the primary income surplus increased substantially, climbing to ISK 18.3 billion from ISK 8.9 billion in the first quarter of 2024.