The value of exported goods in BOP* was estimated 53.3 billion ISK in November 2019 while the value of imported goods was estimated 56.3 billion ISK. Hence, a deficit of balance of trade in goods in BOP was estimated 3.0 billion ISK. In the same month, export of services was estimated 44.8 billion ISK and import of services was estimated 34.6 billion ISK. Hence, the surplus of balance of trade in services was estimated 10.2 billion ISK in November 2019.
Total export of trade in goods and services was therefore estimated 98.1 billion ISK in November and total import of trade in goods and services was estimated 90.9 billion ISK. The surplus of balance of trade in goods and services was estimated 7.2 billion ISK in November 2019.
Total export of trade in goods and services was estimated at 1,231.0 billion ISK in the first eleven months of 2019 compared with 1,220.2 billion ISK in the first eleven months of 2018. For the same period, estimated import of trade in goods and services was 1,109.5 in 2019 compared with 1,137.0 billion ISK in 2018. Therefore, the surplus of balance of trade in goods and services was estimated 121.5 billion ISK in the first eleven months of 2019 compared with a surplus of 83.2 billion ISK for the same period the year before.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
| The value of exports and imports in January-November 2018 and 2019 | |||||
| Million ISK at current exchange rate | Change on prev. year at current exchange rates % | ||||
| November | January-November | ||||
| 2018 | 2019 | 2018 | 2019 | ||
| Trade in goods and services: Total Exports | 104,961.3 | 98,076.4 | 1,220,194.7 | 1,231,027.8 | 0.9 |
| Trade in goods: =Exports in BOP | 54,925.8 | 53,267.9 | 559,858.5 | 609,821.6 | 8.9 |
| Trade in services: Exports total | 50,035.5 | 44,808.5 | 660,336.2 | 621,206.2 | -5.9 |
| Trade in goods and services: Total Imports | 112,515.8 | 90,903.4 | 1,136,954.7 | 1,109,511.9 | -2.4 |
| Trade in goods: = Imports in BOP | 72,621.1 | 56,283.3 | 712,897.9 | 698,039.7 | -2.1 |
| Trade in services: Imports total | 39,894.7 | 34,620.1 | 424,056.8 | 411,472.3 | -3.0 |
| Balance of trade in goods and services | -7,554.5 | 7,172.9 | 83,240.0 | 121,515.8 | |