Balance of trade
The value of exported goods from Iceland amounted to ISK 339,900 million fob and the value of imported goods amounted to ISK 285,900 million fob (ISK 307,700 million cif) January-July 2011. Thus there was a trade surplus, calculated on fob value, of 54,000 million as compared with a trade surplus of ISK 67,900 million in January-July 2010, at fixed rates of exhange¹.
Exports
The total value of exports of goods January-July 2011 was ISK 27.600 million or 8.8% higher at constant rates of exchange than in the same period the year before. Marine products were 37.7% of the total exports and their value 6.3% higher than the same period the year before. Exported manufacturing products were 56.7% of total exported goods and their value was 8.6% more than in the same period the year before. Most increase occurred in the value of export of manufacturing products, mainly aluminium and ferro silicon. Export of marine products and of ships and airplanes also increased.
Imports
The total value of imports of goods January-July 2011 was ISK 41.500 million or 17.0% higher at constant rates of exchange than in the same period the year before. There was an increase in most items of the imports, the largest in industrial supplies.
| Balance of trade in July 2011 | |||||
| Change on previous year at constant exchange rates, % January-July | |||||
| Million ISK at fixed exchange rate | |||||
| July | January-July | ||||
| 2010 | 2011 | 2010 | 2011 | ||
| Exports fob, total | 45,449 | 54,908 | 312,324 | 339,921 | 8.8 |
| Imports fob, total | 41,263 | 42,089 | 244,406 | 285,901 | 17.0 |
| Balance of trade | 4,186 | 12,819 | 67,918 | 54,020 | · |
| The value of exports and imports January-July 2010 and 2011 | |||
| Change on previous year at constant exchange rates 1) % January-July | |||
| Million ISK at current exchange rate | |||
| January-July | January-July | ||
| 2010 | 2011 | ||
| Exports fob, total | 323,685.6 | 339,921.2 | 8.8 |
| Marine products | 124,749.0 | 128,012.7 | 6.3 |
| Agricultural products | 4,060.3 | 4,661.5 | 19.0 |
| Manufacturing products | 183,841.9 | 192,647.4 | 8.6 |
| Other products | 11,034.4 | 14,599.7 | 37.1 |
| Imports fob, total | 253,297.0 | 285,901.0 | 17.0 |
| Food and beverages | 24,868.8 | 26,643.0 | 11.0 |
| Industrial supplies n.e.s. | 87,631.5 | 99,349.5 | 17.5 |
| Fuels and lubricants | 31,338.8 | 39,189.9 | 29.6 |
| Capital goods (except for transport) | 58,820.4 | 61,456.6 | 8.3 |
| Transport equipment | 15,125.7 | 22,148.8 | 51.8 |
| Consumer goods n.e.s. | 35,145.4 | 36,736.1 | 8.3 |
| Goods n.e.s. | 366.5 | 377.1 | 6.6 |
| Balance of trade | 70,388.6 | 54,020.3 | · |
¹Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year -3.5%. In July 2011, foreign currency prices were 3.4% higher than in July 2010.
Monthly figures of external trade for current year are revised together with the release of figures for new months. Annual figures are published in the first half of the year after the end of the reference year. The figures are considered as final at that point of time.
Statistics