The current account deficit in Iceland widened sharply to ISK 59.5 billion in the first quarter of 2025 from ISK 37.6 billion in the corresponding period of the previous year.
The goods account deficit increased significantly to ISK 85.3 billion in Q1 of 2025 from ISK 51.8 billion in the same period a year earlier.
At the same time, the secondary income gap rose to ISK 12.3 billion from ISK 10.4 billion.
Meanwhile, the services account surplus expanded slightly to ISK 19.7 billion from ISK 15.7 billion, and the primary income surplus increased to ISK 18.3 billion from ISK 8.9 billion in Q1 of 2024.