Workers' remittances paid reached 320 USD mil in 2017 in Iceland, according to the National Statistical Office. This is 114 % more than in the previous year.
Historically, workers' remittances paid in Iceland reached an all time high of 320 USD mil in 2017 and an all time low of 0.300 USD mil in 1976. When compared to Iceland's main peers, workers' remittances paid in Denmark amounted to 3,078 USD mil, 4,659 USD mil in Norway, 1,672 USD mil in Sweden and 9,727 USD mil in United Kingdom in 2017.
Iceland has been ranked 73rd within the group of 142 countries we follow in terms of workers' remittances paid, 5 places above the position seen 10 years ago.
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by non-resident workers.