Balance of trade
The value of exported goods from Iceland amounted to ISK 156,800 million fob and the value of imported goods amounted to ISK 234,100 million fob January-October 2005. Thus there was a trade deficit of 77,300 million as compared with a trade deficit of 28,300 million in January-October 2004, at fixed rates of exchange¹.
Exports
The total value of exports of goods January-October 2005 was 6,700 million or 4.5% higher at constant rates of exchange than the same period the year before.
Imports
The total value of imports of goods January-October 2005 showed an increase of 55,800 million or 31.3% higher than in the same period last year, at fixed rates of exchange.
| Balance of trade in January-October 2005 | |||||
| Million ISK at fixed exchange rate | Change on previous year at constant exchange rates, %1 January-October | ||||
| October | January–October | ||||
| 2004 | 2005 | 2004 | 2005 | ||
| Exports fob, total | 14,438 | 15,905 | 150,053 | 156,784 | 4.5 |
| Imports fob, total | 18,242 | 21,548 | 178,348 | 234,124 | 31.3 |
| Balance of trade | -3,804 | -5,642 | -28,295 | -77,341 | · |
| 1 Based on trade weighted index of average foreign currency prices in terms of ISK, change on previous year -9.9 per cent. | |||||
| The value of exports and imports January–October 2004 and 2005 | |||
| Change on previous year at constant exchange rates, % 1 January-October | |||
| Million ISK at current exchange rate | |||
| January–October | January–October | ||
| 2004 | 2005 | ||
|
Exports fob, total |
166,577.5 | 156,783.5 | 4.5 |
|
Marine products |
99,623.3 | 92,758.3 | 3.4 |
|
Agricultural products |
3,544.2 | 3,024.4 | -5.3 |
|
Manufacturing products |
59,213.2 | 54,251.4 | 1.7 |
|
Other products |
4,196.8 | 6,749.4 | 78.5 |
|
Imports fob, total |
197,988.6 | 234,124.1 | 31.3 |
|
Food and beverages |
16,941.8 | 16,300.6 | 6.8 |
|
Industrial supplies n.e.s. |
51,402.1 | 56,965.2 | 23.0 |
|
Fuels and lubricants |
18,412.2 | 22,484.1 | 35.6 |
|
Capital goods (except for transport) |
43,855.9 | 53,707.6 | 35.9 |
|
Transport equipment |
32,117.0 | 46,175.1 | 59.6 |
|
Consumer goods n.e.s. |
35,060.0 | 38,235.8 | 21.1 |
|
Goods n.e.s. |
199.5 | 255.7 | 42.3 |
|
Balance of trade |
-31,411.1 | -77,340.6 | · |
|
1 Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year -9.9 per cent. | |||