Balance of trade
The value of exported goods from Iceland in January 2016 amounted to ISK 45,900 million fob and the value of imported goods amounted to ISK 46,900 million fob (ISK 49,800 million cif). Thus there was a trade deficit, calculated on fob value, of ISK 1,000 million compared with a trade surplus of ISK 6,500 million in the same month of 2015, at current rates of exchange¹.
| The value of exports and imports January 2015 and 2016 | |||
| Million ISK at current exchange rate | Change on prev. | ||
| January- | January- | year at current | |
| January | January | exch. rates, % | |
| 2015 | 2016 | Jan.-January | |
| Exports fob, total | 50,334.8 | 45,862.4 | -8.9 |
| Marine products | 17,037.6 | 20,369.2 | 19.6 |
| Agricultural products | 1,318.2 | 1,371.6 | 4.0 |
| Manufacturing products | 30,963.3 | 21,357.5 | -31.0 |
| Other products | 1,015.7 | 2,764.1 | 172.1 |
| Imports fob, total | 43,811.9 | 46,863.0 | 7.0 |
| Food and beverages | 5,088.9 | 3,783.7 | -25.6 |
| Industrial supplies n.e.s. | 12,861.2 | 12,590.6 | -2.1 |
| Fuels and lubricants | 6,769.6 | 4,021.3 | -40.6 |
| Capital goods (except for transport) | 9,582.2 | 12,199.4 | 27.3 |
| Transport equipment | 3,637.6 | 6,459.8 | 77.6 |
| Consumer goods n.e.s. | 5,848.7 | 7,722.6 | 32.0 |
| Goods n.e.s. | 23.8 | 85.5 | 258.9 |
| Balance of trade | 6,522.9 | -1,000.7 | · |
¹ Statistics Iceland does no longer publish trade in goods at constant exchange rates. The breakdown of trade in goods by currencies is available on Statistics Iceland’s website.
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.