NEWS RELEASE ENTERPRISES 12 NOVEMBER 2019

Activities related to tourism
VAT-turnover in international passenger air transport was 25% lower in the period July to August 2019 than in the same period 2018. Turnover in other activities related to tourism decreased by 0.4%.

Increased turnover in fisheries
VAT-turnover increased in many export industries, e.g. fisheries (16.8%); and wholesale of fish and fish markets (18.2%).

Sale and repair of motor vehicles
VAT-turnover in the sale and repair of motor vehicles and motorcycles decreased by 13.6%.

Turnover according to VAT-reports (billion ISK)
  July-August 2018 July-August 2019 % Sept. 2017-August 2018 Sept. 2018-August 2019 %
Total excluding the pharmaceutical industry¹ 811 818 0.8 4,445 4,627 4.1
Agriculture and forstry² ... ... ... 51 52 0.4
A-03/C-102 Fishing, aquaculture; fish processing 56 65 16.8 354 401 13.4
C-24 Manufacture of basic metals 44 38 -13.4 243 251 3.0
C Manufacturing; excluding fish processing,pharmaceutical industry 72 71 -1.5 422 432 2.2
D/E Electricity, gas;water supply; sewerage and waste manageme 30 30 -0.5 181 194 7.2
F/B Construction, mining and quarrying 63 66 4.8 343 367 7.0
G-45 Wholesale and retail trade and repair of motor vehicles and m 29 25 -13.6 169.9 149.0 -12.3
G-46171/G-46172/G-46381 Wholesale of fish and fish markets 33 39 18.2 216.3 256.8 18.8
G-4671 Wholesale of fuels 29 32 9.4 131.9 146.7 11.2
G-46 Other wholesale 61 68 11.6 359.6 389.1 8.2
G-47 Retail trade 84 89 7.0 468.7 491.7 4.9
H Transportation and storage 110 88 -20.8 497.9 435.0 -12.6
I Accommodation and food service activities 48 48 -0.1 198.4 201.7 1.7
J Information and communication 33 35 5.9 214.1 231.8 8.3
N-7711 Renting and leasing of cars and light motor vehicles 13 12 -3.7 50.2 50.5 0.7
N-79 Travel agencies, tour operator reservation service and related 29 29 2.1 107.5 115.9 7.9
Foreign enterprices selling e-services to households in Iceland 1 1 -3.4 8.6 9.4 9.0
Other fields of activity 73 77 6.5 427.1 453.4 6.2
¹ For the time being, VAT-turnover is pubished excluding the pharmaceutical industry. Data validation is ongoing.
² Many farmers report VAT biannually, in accordance with paragraph 31 of the VAT-laws. Hence, bimonthly data do not reflect the turnover in agriculture.

Revision of statistics
At the time of our previous press release, in September, the VAT turnover, excluding the pharmaceutical industry, in May to June 2019 was estimated 803.4 billion ISK which was a decrease of 1.1% compared with the same period in 2018. At present, more data are available and the VAT turnover in May to June 2019 is estimated 805.3 billion ISK, a decrease of 0.8% compared with the same period in 2018.

Other statistics on business economy
Statistics Iceland publishes annual income and balance statements of enterprises by activity, based on tax returns, providing a detailed picture of the individual sectors.

Statistics
The tourism industry
All economic activities

Further Information

For further information please contact 528 1100 , email upplysingar@hagstofa.is

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