Balance of trade in January 2008
The value of exported goods from Iceland in January 2008 amounted to ISK 24,200 million fob and the value of imported goods amounted to ISK 33,700 million fob (ISK 36,600 million cif). Thus there was a trade deficit, calculated on fob value, of 9,500 million as compared with a trade deficit of 2,900 million in January 2007, at fixed rates of exchange¹.
| Balance of trade in January 2008 | |||
| Million ISK at fixed exchange rate |
Change on previous year at constant exchange rates, % January | ||
| January | |||
| 2007 | 2008 | ||
| Exports fob, total | 26,144 | 24,191 | -7.5 |
| Imports fob, total | 29,013 | 33,684 | 16.1 |
| Balance of trade | -2,869 | -9,494 | . |
| The value of exports and imports January 2007 and 2008 | |||
| Change on previous year at constant exchange rates ¹) % January | |||
| Million ISK at current exchange rate | |||
| January | January | ||
| 2007 | 2008 | ||
| Exports fob, total | 25,900.7 | 24,190.5 | -7.5 |
| Marine products | 8,534.6 | 10,282.3 | 19.4 |
| Agricultural products | 554.2 | 591.2 | 5.7 |
| Manufacturing products | 9,634.0 | 12,301.2 | 26.5 |
| Other products | 7,177.8 | 1,015.8 | -86.0 |
| Imports fob, total | 28,743.2 | 33,684.2 | 16.1 |
| Food and beverages | 1,836.2 | 2,197.8 | 18.6 |
| Industrial supplies n.e.s. | 5,563.6 | 8,555.4 | 52.3 |
| Fuels and lubricants | 3,467.5 | 3,263.1 | -6.8 |
| Capital goods (except for transport) | 7,196.3 | 7,291.0 | 0.4 |
| Transport equipment | 6,328.8 | 7,192.0 | 12.6 |
| Consumer goods n.e.s. | 4,315.6 | 5,160.0 | 18.4 |
| Goods n.e.s. | 35.2 | 24.9 | -30.0 |
| Balance of trade | -2,842.5 | -9,493.7 | · |
Correction of balance of trade in 2007
Figures for balance of trade for the year 2007 have been corrected due to information of trade in aircraft received after the publication of the 2007 figures. Thus the value of exported goods from Iceland amounted to ISK 305,100 million fob and the value of imported goods amounted to ISK 395,200 million fob (ISK 427,400 million cif). Thus the trade deficit, calculated on fob value, was ISK 90,100 million. Exports increased by 27.9% at current prices while imports increased by 0.2%.
¹ Based on trade-weighted index of average foreign currency prices in terms of ISK,in January 2008 the change was 0.9% higher than in January 2007.
Monthly figures of external trade for current year are revised together with the release of figures for new months. Annual figures are published approximately 7 weeks after the end of the reference year, in February each year. The figures are considered as final at that point of time
Statistics