Balance of trade
The value of exported goods from Iceland amounted to ISK 126,100 million fob and the value of imported goods amounted to ISK 185,300 million fob January-August 2005. Thus there was a trade deficit of 59,200 million as compared with a trade deficit of 24,800 million in January-August 2004, at fixed rates of exchange¹.
Exports
The total value of exports of goods January-August 2005 was 7,500 million or 6.3% higher at constant rates of exchange than the same period the year before.
Imports
The total value of imports of goods January-August 2005 showed an increase of 42,000 million or 29.3% higher than in the same period last year, at fixed rates of exchange.
| Balance of trade in January-August 2005 | |||||
| Million ISK at fixed exchange rate | Change on previous year at constant exchange rates, %1 January-August | ||||
| August | January–August | ||||
| 2004 | 2005 | 2004 | 2005 | ||
| Exports fob, total | 12,637 | 14,190 | 118,574 | 126,081 | 6.3 |
| Imports fob, total | 18,469 | 25,943 | 143,369 | 185,322 | 29.3 |
| Balance of trade | -5,832 | -11,753 | -24,795 | -59,241 | · |
| The value of exports and imports January–August 2004 and 2005 | |||
| Change on previous year at constant exchange rates, % 1 January-August | |||
| Million ISK at current exchange rate | |||
| January–August | January–August | ||
| 2004 | 2005 | ||
| Exports fob, total | 130,029.4 | 126,080.6 | 6.3 |
| Marine products | 79,088.6 | 74,996.7 | 4.0 |
| Agricultural products | 2,752.7 | 2,235.9 | -10.9 |
| Manufacturing products | 44,984.7 | 43,405.3 | 5.8 |
| Other products | 3,203.4 | 5,442.7 | 86.3 |
| Imports fob, total | 157,220.1 | 185,321.5 | 29.3 |
| Food and beverages | 13,140.4 | 13,096.6 | 9.3 |
| Industrial supplies n.e.s. | 41,034.1 | 45,393.0 | 21.3 |
| Fuels and lubricants | 14,497.5 | 16,674.0 | 26.1 |
| Capital goods (except for transport) | 35,489.4 | 42,226.3 | 30.5 |
| Transport equipment | 25,687.1 | 38,282.9 | 63.4 |
| Consumer goods n.e.s. | 27,215.7 | 29,447.0 | 18.7 |
| Goods n.e.s. | 155.9 | 201.8 | 42.0 |
| Balance of trade | -27,190.7 | -59,240.9 | · |
¹ Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year -8.8%.