Please note that this press release was corrected on 6 October 2021 from the original issue due to the correction of government securities debt in the years 2016 and 2020. The correction was made due to corrections in debt of the HFF fund and the Icelandic Student Loan Fund. Discussion on the total financial assets and liabilities of the financial corporations and the general government and statistics have been updated accordingly.

Total financial assets of Iceland’s domestic sector stood at 31,607 billion ISK in year-end 2020 according to preliminary data or 1,075% of Gross Domestic Product (GDP).

Total financial liabilities stood at 30,643 billion ISK or 1,042% of GDP. Net financial assets of the domestic sector were therefore positive by ISK 963.6 billion at the end of 2020, but were positive by ISK 518.7 billion the year before.

Preliminary data for 2020

Financial assets of households stood at 8,702 billion ISK, while financial liabilities stood at 2,534 billion ISK at the end of 2020, or 296% and 86% of GDP, respectively.

Financial assets of non-financial corporations stood at 4,273 billion ISK according to the revised data, while liabilities stood at 8,668 billion ISK.

Total financial assets of financial corporations stood at 16,052 billion ISK, while liabilities stood at 16,067 billion ISK at the end of 2020.

At the end of 2020, the financial assets of the general government stood at 2,471 billion ISK, or 84% of GDP, while liabilities stood at 3,366 billion ISK, or 114% of GDP.

The foreign sector’s financial assets stood at 3,506 billion ISK, or 119% of GDP, while the liabilities stood at 4,455 billion ISK, or 151% of GDP.

Statistics