The total value of exports of services in February 2023 is estimated at 52.4 billion ISK, increasing by 47% compared with February 2022, at current rates of exchange. The total exported value of travel in February is estimated at 23.9 billion ISK, having increased by 80% compared with the same month last year. The exported value of transport services is estimated at 14.2 billion ISK in February, having increased by 46% compared with February 2022. The value of exports of other services was estimated at 14.3 billion ISK in February, increasing by 14% compared with the same month the year before.
The total value of imports of services in February is estimated to have been at 46.4 billion ISK and increased by 33% from February 2022, at current rates of exchange. The total imported value of travel in February is estimated at 15.6 billion ISK and to have increased by 45% compared with the same month the year before. Imported value of transport services in February is estimated at 9.2 billion ISK, having increased by 35% compared with February 2022, while the value of imports of other services is estimated to have been at 21.6 billion ISK in February, increasing by 25% compared with February the year before. In total, a surplus of 6 billion ISK was recorded in February.
For the period March 2022 to February 2023, the total value of exports of services is estimated at 771.9 billion ISK, an increase of 61% compared with the 12 months prior, at current rates of exchange. The value for imports of services for the same period is estimated at 576.2 billion ISK, having increased by 46% compared with the same period the year before.
The value of exported goods in BOP* is estimated at 75.2 billion ISK in February 2023 and the value of imported goods is estimated at 93.8 billion ISK. Therefore, a deficit in balance of trade in goods in BOP is estimated at 18.6 billion ISK. Total export of trade in goods and services is estimated at 127.6 billion ISK in February 2023, increasing by 25% compared with the same month the previous year. Moreover, total imports of trade in goods and services is estimated at 140.2 billion ISK in the same period, having increased by 27% compared with the same month the previous year. Therefore, the deficit in balance of trade in goods and services is estimated at 12.6 billion ISK in February compared with a deficit of 8.5 billion ISK for the same month in 2022.
The value of exports of trade in goods and services is estimated at 1,789.6 billion ISK in the 12-month period March 2022 to February 2023 and to have increased by 39% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,823.9 billion ISK and increased by 35%. Therefore, the deficit in balance of trade in goods and services is estimated at 34.2 billion ISK in that 12-month period compared with a deficit of 60.4 billion ISK for the previous 12 months.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
Statistics
Trade in goods and services
Trade in services