Balance of trade
The value of exported goods from Iceland amounted to ISK 105,400 million fob and the value of imported goods amounted to ISK 86,100 million fob (ISK 93,700 million cif) January-February 2013. Thus there was a trade surplus, calculated on fob value, of ISK 19,200 million as compared with a trade surplus of ISK 13,100 million in January-February 2012, at current rates of exchange¹.
The total value of exports of goods the first two months of 2013 was ISK 3,900 million or 3.8% higher at current rates of exchange than in the same period the year before. Exported manufacturing products were 53.3% of total exported goods and their value was 0.5% more than in the same period the year before. Marine products were 42.6% of the total exports and their value 8.9% higher than the same period the year before.
The total value of imports of goods the first two months of 2013 was ISK 2,200 million or 2.5% lower at current rates of exchange than in the same period the year before, mainly because of decreased imports of ships and aircrafts. However, the imports of capital goods and industrial supplies increased.
|The value of exports and imports January-February 2013|
|Million ISK at current exchange rate||Change on prev.|
|January-||January-||year at current|
|February||February||exch. rates, %|
|Exports fob, total||101,474.7||105,362,2||3.8|
|Imports fob, total||88,355.8||86,145.5||-2.5|
|Food and beverages||7,137.1||7,658.8||7.3|
|Industrial supplies n.e.s.||25,497.5||27,931.5||9.5|
|Fuels and lubricants||11,315.2||12,542.2||10.8|
|Capital goods (except for transport)||18,263.2||22,376.9||22.5|
|Consumer goods n.e.s.||10,098.8||10,834.4||7.3|
|Balance of trade||13,118.9||19,216.7||·|
¹ Statistics Iceland does no longer publish trade in goods at constant exchange rates. On Statistics Iceland website is available table of the breakdown of trade in goods by currencies.
Monthly figures of external trade for current year are revised together with the release of figures for new months. Annual figures are published in the first half of the year after the end of the reference year. The figures are considered as final at that point of time.