Balance of trade
The value of exported goods from Iceland amounted to ISK 285,000 million fob and the value of imported goods amounted to ISK 242,800 million fob (ISK 261,500 million cif) January-June 2011. Thus there was a trade surplus, calculated on fob value, of 42,200 million as compared with a trade surplus of ISK 63,200 million in January-June 2010, at fixed rates of exhange¹.
Exports
The total value of exports of goods January-June 2011 was ISK 18,400 million or 6.9% higher at constant rates of exchange than in the same period the year before. Marine products were 37% of the total exports and their value 3.5% higher than the same period the year before. Exported manufacturing products were 57% of total exported goods and their value was 6.9% more than in the same period the year before. Most increase occurred in the value of export of manufacturing products, mainly aluminium and ferro silicon. Export of marine products and of ships and airplanes also increased.
Imports
The total value of imports of goods January-June 2011 was ISK 39,400 million or 19.4% higher at constant rates of exchange than in the same period the year before. There was an increase in most items of the imports, the largest in industrial supplies.
| Balance of trade in June 2011 | |||||
| Change on previous year at constant exchange rates, % January-June | |||||
| Million ISK at fixed exchange rate | |||||
| June | January-June | ||||
| 2010 | 2011 | 2010 | 2011 | ||
| Exports fob, total | 51,948 | 44,874 | 266,652 | 285,012 | 6.9 |
| Imports fob, total | 40,237 | 43,098 | 203,410 | 242,817 | 19.4 |
| Balance of trade | 11,712 | 1,776 | 63,241 | 42,196 | · |
| The value of exports and imports January-June 2010 and 2011 | |||
| Change on previous year at constant exchange rates 1) % January-June | |||
| Million ISK at current exchange rate | |||
| January-June | January-June | ||
| 2010 | 2011 | ||
| Exports fob, total | 279,714.1 | 285,012.1 | 6.9 |
| Marine products | 106,792.8 | 105,356.4 | 3.5 |
| Agricultural products | 3,706.4 | 4,193.7 | 18.7 |
| Manufacturing products | 158,975.0 | 162,070.7 | 6.9 |
| Other products | 10,240.0 | 13,391.2 | 37.2 |
| Imports fob, total | 213,375.0 | 242,816.6 | 19.4 |
| Food and beverages | 21,170.6 | 22,610.4 | 12.0 |
| Industrial supplies n.e.s. | 73,858.7 | 85,773.3 | 21.8 |
| Fuels and lubricants | 23,935.9 | 30,795.8 | 35.0 |
| Capital goods (except for transport) | 51,190.5 | 53,399.5 | 9.4 |
| Transport equipment | 12,441.2 | 18,590.3 | 56.7 |
| Consumer goods n.e.s. | 30,449.4 | 31,307.3 | 7.8 |
| Goods n.e.s. | 328.8 | 339.9 | 8.4 |
| Balance of trade | 66,339.1 | 42,195.6 | · |
¹Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year -4.7%. In June 2011, foreign currency prices were 2.5% higher than in June 2010.
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.
Statistics