Balance of trade
The value of exported goods from Iceland amounted to ISK 150,900 million fob and the value of imported goods amounted to ISK 245,500 million fob (ISK 266,100 million cif) January-August 2006. Thus there was a trade deficit, calculated on fob value, of 94,600 million as compared with a trade deficit of 63,400 million in January-August 2005, at fixed rates of exchange¹.
Exports
The total value of exports of goods January-August 2006 was ISK 8,300 million or 5.9% higher at constant rates of exchange than the same period the year before.
Imports
The total value of imports of goods January-August 2006 showed an increase of ISK 39,500 million fob or 19.2% higher than in the same period last year, at fixed rates of exchange.
| Balance of trade in January-August 2005 | |||||
| Million ISK at fixed exchange rate | Change on previous year at constant exchange rates, %1 February-November | ||||
| August | January–August | ||||
| 2005 | 2006 | 2005 | 2006 | ||
| Exports fob, total | 16,448 | 16,606 | 142,583 | 150,930 | 5.9 |
| Imports fob, total | 31,271 | 28,227 | 205,996 | 245,525 | 19.2 |
| Balance of trade | -14,823 | -11,621 | -63,412 | -94,596 | · |
| The value of exports and imports January–August 2005 and 2006 | |||
| Change on previous year at constant exchange rates, % 1 January-January | |||
| Million ISK at current exchange rate | |||
| January–August | January–August | ||
| 2005 | 2006 | ||
| Exports fob, total | 130,966.4 | 150,929.5 | 5.9 |
| Marine products | 74,979.0 | 83,126.8 | 1.8 |
| Agricultural products | 2,235.5 | 2,352.4 | -3.3 |
| Manufacturing products | 44,073.4 | 57,301.9 | 19.4 |
| Other products | 9,678.6 | 8,148.5 | -22.7 |
| Imports fob, total | 189,212.3 | 245,525.3 | 19.2 |
| Food and beverages | 13,051.2 | 14,468.1 | 1.8 |
| Industrial supplies n.e.s. | 45,460.6 | 66,185.5 | 33.7 |
| Fuels and lubricants | 16,674.0 | 21,178.9 | 16.7 |
| Capital goods (except for transport) | 42,255.0 | 67,095.8 | 45.8 |
| Transport equipment | 42,188.4 | 40,699.1 | -11.4 |
| Consumer goods n.e.s. | 29,381.3 | 35,614.0 | 11.3 |
| Goods n.e.s. | 201.8 | 283.9 | 29.2 |
| Balance of trade | -58,245.9 | -94,595.7 | · |
¹ Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year 8.9%. In August 2006, the change was 14.3% higher than in August 2005.
Monthly figures of external trade for current year are revised together with the release of figures for new months. Annual figures are published approximately 7 weeks after the end of the reference year, in February each year. The figures are considered as final at that point of time.
Statistics