Balance of trade
The value of exported goods from Iceland amounted to ISK 119,900 million fob and the value of imported goods amounted to ISK 150,500 million fob (ISK 163,600 million cif) January-May 2007. Thus there was a trade deficit, calculated on fob value, of 30,600 million as compared with a trade deficit of 59,300 million in January-May 2006, at fixed rates of exchange1.
Exports
The total value of exports of goods January-May 2007 was ISK 21,100 million or 21% higher at constant rates of exchange than the same period the year before.
Imports
The total value of imports of goods January-May 2007 showed decrease of ISK 7,600 million fob or 5% lower than in the same period last year, at fixed rates of exchange.
| Balance of trade in May 2007 | |||||
| Change on previous year at constant exchange rates, % January-May | |||||
| Million ISK at fixed exchange rate | |||||
| May | January–May | ||||
| 2006 | 2007 | 2006 | 2007 | ||
| Exports fob, total | 21,901 | 20,503 | 98,744 | 119,857 | 21.4 |
| Imports fob, total | 34,472 | 31,169 | 158,051 | 150,476 | -4.8 |
| Balance of trade | -12,571 | -10,665 | -59,307 | -30,619 | · |
| The value of exports and imports May 2006 and 2007 | |||
| Change on previous year at constant exchange rates 1) % January-May | |||
| Million ISK at current exchange rate | |||
| May | May | ||
| 2006 | 2007 | ||
| Exports fob, total | 94,645.7 | 119,857.1 | 21.4 |
| Marine products | 52,093.9 | 56,266.5 | 3.5 |
| Agricultural products | 1,714.0 | 1,556.5 | -13.0 |
| Manufacturing products | 34,676.0 | 48,367.0 | 33.7 |
| Other products | 6,161.8 | 13,667.1 | · |
| Imports fob, total | 151,491.5 | 150,475.9 | -4.8 |
| Food and beverages | 8,678.3 | 9,889.4 | 9.2 |
| Industrial supplies n.e.s. | 39,741.7 | 42,660.4 | 2.9 |
| Fuels and lubricants | 9,890.9 | 12,749.2 | 23.5 |
| Capital goods (except for transport) | 37,339.1 | 37,652.4 | -3.3 |
| Transport equipment | 34,281.4 | 23,015.7 | -35.7 |
| Consumer goods n.e.s. | 21,353.0 | 24,330.5 | 9.2 |
| Goods n.e.s. | 207.0 | 178.2 | -17.5 |
| Balance of trade | -56,845.7 | -30,618.8 | · |
¹ Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year 4.3%. In May 2007, the change was 8.5% lower than in May 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