Balance of trade in services 32,561 million ISK
Export of services for the first quarter of 2018 was 131,549 million ISK and the import of services 98,989 million ISK, according to preliminary figures. Surplus of balance of trade in services in the first quarter of 2018 was therefore 32,561 million ISK compared with 41,288 million ISK in the first quarter of 2017 at current exchange rates.
Value of export of services higher than in same quarter last year
The total value of exports of services in the first quarter of 2018 was 7,389 million ISK higher (6%) than in the same period the year before at current exchange rates. Exported value of travel was 62,371 million ISK contributing 47.4% of total export of services and increased by 7.4% compared with the same period last year. Exported value of transport services was 44,880 million ISK and increased by 5.2% at current exchange rates.
Import of services increases in value
The total value of import of services in the first quarter of 2018 was 16,117 million ISK higher (19.4%) than the year before, at current rates of exchange. The value of imported travel services was 42,286 million ISK and increased by 24.1% in the first quarter of 2018 compared with the same period the year before, at current exchange rate.
Export and import of services now published for each month
Statistics Iceland publishes now for the first time monthly figures for export and import of services as well as balance of trade in services. This is a new publication and the data can be found in the table External trade in services, monthly 2018.
| The value of exports and imports of services 2017 and 2018 | |||
| Million ISK at current exchange rate | Change on prev. | ||
| 1st quarter | year at current exch. Rates, | ||
| 2017 | 2018 | % 1st quarter | |
| Export of services | 124,160.2 | 131,549.4 | 6.0 |
| Transport | 42,665.8 | 44,879.9 | 5.2 |
| Travel | 58,091.2 | 62,371.3 | 7.4 |
| Other business services | 6,919.9 | 7,177.2 | 3.7 |
| Other service categories | 16,483.3 | 17,121.0 | 3.9 |
| Import of services | 82,872.3 | 98,989.0 | 19.4 |
| Transport | 13,803.8 | 16,176.8 | 17.2 |
| Travel | 34,087.9 | 42,286.4 | 24.1 |
| Other business services | 15,586.3 | 18,238.5 | 17.0 |
| Other service categories | 19,394.3 | 22,287.3 | 14.9 |
| Balance of trade in services | 41,287.9 | 32,560.5 | |
The next publication for trade in services will be 1 September 2018 for the second quarter of 2018. This publication will include monthly figures for the quarter.