The value of exported goods amounted to ISK 44.1 billion fob and the value of imported goods amounted to ISK 52.4 billion fob according to preliminary figures for December 2019. Thus, there was a trade deficit, calculated on fob value, of ISK 8.3 billion as compared with a trade deficit of ISK 11.2 billion in December 2018, at current rates of exchange.
In December 2019 the value of exported goods was ISK 9.0 billion lower than in December 2018 or 17.0% at current exchange rate, mostly due to decreased exports in and marine products and manufacturing products.
The value of imported goods in December 2019 was ISK 11.9 billion lower than in December 2018 or 18.5% at current exchange rate. The decrease was mainly in industrial supplies and fuels.
With the publication of preliminary figures for December it is possible to catch a glimpse of the hole year 2019. The value of exported goods in the year 2019 from Iceland amounted to ISK 642.5 billion fob which is 7% higher than previous year and the value of imported goods amounted to ISK 751.6 billion fob, 3% lower than in the year 2018. Thus, there was a trade deficit, calculated on fob value, of ISK 109.1 billion as compared with a trade deficit of ISK 174.4 billion in the year 2018, at current rates of exchange. Accordingly the trade deficit in the year 2019 will be 65.3 billion lower than in the year 2018.
It should be borne in mind that these are preliminary figures and might change due to regular revision.
