The net financial worth of Iceland’s domestic sectors was negative by ISK 737 billion at year-end 2016, having decreased by 12.2% from the previous year. Total financial liabilities decreased by 3.4% and stood at ISK 28,491 billion, or 1,163% of GDP at year-end 2016. Financial assets decreased by 3.1% during the same period, and stood at ISK 27,755 billion or 1,133% of GDP at the end of 2016.
Total financial assets and liabilities of non-financial corporations increased by 1.9% in 2015 and 2.2% in 2016.
Financial assets of the financial corporation sector decreased by 9.3%, and their liabilities by 7.1% between the years. All outstanding amounts of banks undergoing winding-up proceedings over the last few years were settled in 2016, which explains the downturn in the financial sector from 2015 to 2016.
General government financial assets and liabilities’ stock stood at ISK 1,319 billion (54% of GDP) and ISK 2,261 billion (92% of GDP), respectively, at the end of 2016.
The total financial assets of the household sector stood at ISK 5,631 billion and liabilities at ISK 1,930 billion at the end of 2016. Household assets increased by almost 8.3% while liabilities decreased by roughly 2.3% between 2015 and 2016.
The financial assets of the rest of the world against Iceland stood at ISK 4,543 billion and liabilities at ISK 3,798 billion, or 186% of GDP and 155% of GDP, respectively, in 2016. Financial assets of this sector declined by 22% and liabilities by almost 24% between 2015 and 2016.
Next scheduled publication of financial accounts is in April 2018.
Financial accounts – further information on method and various classifications, see metadata.