Balance of trade
The value of exported goods from Iceland amounted to ISK 176,500 million fob and the value of imported goods amounted to ISK 243,000 million fob (ISK 264,100 million cif) January-August 2007. Thus there was a trade deficit, calculated on fob value, of 66,500 million as compared with a trade deficit of 103,800 million in January-August 2006, at fixed rates of exchange¹.
Exports
The total value of exports of goods January-August 2007 was ISK 21,600 million or 14% higher at constant rates of exchange than the same period the year before.
Imports
The total value of imports of goods January-August 2007 showed decrease of ISK 15,700 million fob or 6% lower than in the same period last year, at fixed rates of exchange.
| Balance of trade in August 2007 | |||||
| Change on previous year at constant exchange rates, % January-August | |||||
| Million ISK at fixed exchange rate | |||||
| August | January–August | ||||
| 2006 | 2007 | 2006 | 2007 | ||
| Exports fob, total | 16,101 | 17,825 | 154,891 | 176,477 | 14,0 |
| Imports fob, total | 30,101 | 29,798 | 258,687 | 242,971 | -6,1 |
| Balance of trade | -14,000 | -11,973 | -103,796 | -66,494 | · |
| The value of exports and imports August 2006 and 2007 | |||
| Change on previous year at constant exchange rates 1) % January-August | |||
| Million ISK at current exchange rate | |||
| August | August | ||
| 2006 | 2007 | ||
| Exports fob, total | 157,058.6 | 176,477.2 | 14.0 |
| Marine products | 82,953.0 | 83,614.4 | 2.2 |
| Agricultural products | 2,350.0 | 2,028.4 | -12.5 |
| Manufacturing products | 57,404.3 | 75,566.4 | 33.5 |
| Other products | 14,351.2 | 15,267.9 | 7.9 |
| Imports fob, total | 262,307.2 | 242,970.9 | -6.1 |
| Food and beverages | 14,453.3 | 16,481.5 | 15.6 |
| Industrial supplies n.e.s. | 66,208.7 | 65,236.2 | -0.1 |
| Fuels and lubricants | 21,179.6 | 22,005.7 | 5.4 |
| Capital goods (except for transport) | 67,123.8 | 59,558.3 | -10.0 |
| Transport equipment | 57,508.4 | 40,838.1 | -28.0 |
| Consumer goods n.e.s. | 35,548.8 | 38,617.2 | 10.2 |
| Goods n.e.s. | 284.6 | 233.7 | -16.7 |
| Balance of trade | -105,248.6 | -66,493.8 | · |
¹ Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year -1.4%. In August 2007, the change was 3.0% lower than in August 2006.
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