Balance of trade
The value of exported goods from Iceland amounted to ISK 566,000 million fob and the value of imported goods amounted to ISK 468,600 million fob (ISK 504,100 million cif) January-November 2011. Thus there was a trade surplus, calculated on fob value, of 97,500 million as compared with a trade surplus of ISK 105,500 million in January-November 2010, at fixed rates of exhange¹.
Exports
The total value of exports of goods January-November 2011 was ISK 59,000 million or 11.6% higher at constant rates of exchange than in the same period the year before. Marine products were 40.5% of the total exports and their value 13.3% higher than the same period the year before. Exported manufacturing products were 54.5% of total exported goods and their value was 9.7% more than in the same period the year before. Most increase occurred in the value of export of manufacturing products, mainly aluminium and aluminium products. Export of marine products also increased, mainly whole frozen fish.
Imports
The total value of imports of goods January-November 2011 was ISK 67,000 million or 16.7% higher at constant rates of exchange than in the same period the year before. The largest increase was in industrial supplies, fuels and capital goods.
| Balance of trade in November 2011 | |||||
| Change on previous year at constant exchange rates, % January-November | |||||
| Million ISK at fixed exchange rate | |||||
| November | January-November | ||||
| 2010 | 2011 | 2010 | 2011 | ||
| Exports fob, total | 50,365 | 53,465 | 507,053 | 566,041 | 11.6 |
| Imports fob, total | 43,172 | 45,560 | 401,513 | 468,556 | 16.7 |
| Balance of trade | 7,193 | 7,905 | 105,540 | 97,485 | · |
| The value of exports and imports January-November 2010 and 2011 | |||
| Change on previous year at constant exchange rates 1) % January-November | |||
| Million ISK at current exchange rate | |||
| January-November | January-November | ||
| 2010 | 2011 | ||
| Exports fob, total | 510,627.3 | 566,041.2 | 11.6 |
| Marine products | 203,798.9 | 229,255.2 | 13.3 |
| Agricultural products | 7,142.3 | 8,120.8 | 14.5 |
| Manufacturing products | 283,001.0 | 308,346.8 | 9.7 |
| Other products | 16,685.0 | 20,318.3 | 22.6 |
| Imports fob, total | 404,343.2 | 468,555.7 | 16.7 |
| Food and beverages | 39,037.8 | 44,138.6 | 13.9 |
| Industrial supplies n.e.s. | 135,491.9 | 156,027.0 | 16.0 |
| Fuels and lubricants | 52,745.1 | 70,840.4 | 35.3 |
| Capital goods (except for transport) | 91,193.9 | 103,553.2 | 14.4 |
| Transport equipment | 26,103.3 | 31,514.4 | 21.6 |
| Consumer goods n.e.s. | 59,296.5 | 61,799.6 | 5.0 |
| Goods n.e.s. | 474.7 | 682.6 | 44.8 |
| Balance of trade | 106,284.1 | 97,485.4 | . |
¹Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year -0.7%. In November 2011, foreign currency prices were 4.3% higher than in November 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