The Central Bank of Iceland will today publish on its website preliminary statistics for the balance of payments in the second quarter of 2007, and for the external position at the end of June.
The deficit on the current account was 51. b.kr. in Q2/2007, compared with 29 b.kr. in the first quarter. The increase is explained by a widening of the deficit on the goods account to 31 b.kr., from 8. b.kr. in Q1/2007. However, the services and income accounts were virtually unchanged quarter-on-quarter. Half of the receipts on the income account were accounted for by reinvested earnings on outward foreign direct investment, while interest payments on foreign borrowing weigh heaviest on the expenditure side.
No. 15/2007
September 4, 2007
See also: Balance of payments Q2.