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.