Balance of trade
The value of exported goods from Iceland amounted to ISK 194,400 million fob and the value of imported goods amounted to ISK 288,900 million fob January-December 2005. Thus there was a trade deficit of 94,500 million as compared with a trade deficit of 33,900 million in January-December 2005, at fixed rates of exchange1.
Exports
The total value of exports of goods January-December 2005 was 12,700 million or 7% higher at constant rates of exchange than the same period the year before.
Imports
The total value of imports of goods January-December 2005 showed an increase of 73,300 million or 34% higher than in the same period last year, at fixed rates of exchange.
| Balance of trade in January-December 2005 | |||||
| Million ISK at fixed exchange rate | Change on previous year at constant exchange rates, %1 January-November | ||||
| December | January–December | ||||
| 2004 | 2005 | 2004 | 2005 | ||
| Exports fob, total | 15,431 | 13,690 | 181,650 | 194,355 | 7.0 |
| Imports fob, total | 19,113 | 23,070 | 215,568 | 288,895 | 34.0 |
| Balance of trade | -3,683 | -9,381 | -33,918 | -94,540 | · |
| 1 Based on trade weighted index of average foreign currency prices in terms of ISK, change on previous year -10.4 per cent. | |||||
| The value of exports and imports January–December 2004 and 2005 | |||
| Change on previous year at constant exchange rates, % 1 January-December | |||
| Million ISK at current exchange rate | |||
| January–December | January–December | ||
| 2004 | 2005 | ||
| Exports fob, total | 202,373.0 | 194,355.3 | 7.0 |
| Marine products | 121,745.7 | 110,130.1 | 0.8 |
| Agricultural products | 4,261.3 | 3,759.6 | -1.7 |
| Manufacturing products | 71,073.5 | 66,775.8 | 4.7 |
| Other products | 5,292.5 | 13,689.7 | · |
| Imports fob, total | 240,160.0 | 288,894.8 | 34.0 |
| Food and beverages | 20,831.4 | 19,720.5 | 5.5 |
| Industrial supplies n.e.s. | 61,085.6 | 69,103.6 | 26.0 |
| Fuels and lubricants | 21,858.6 | 27,028.2 | 37.8 |
| Capital goods (except for transport) | 52,823.7 | 67,199.4 | 41.7 |
| Transport equipment | 40,013.2 | 58,204.7 | 62.1 |
| Consumer goods n.e.s. | 43,317.9 | 47,335.0 | 21.7 |
| Goods n.e.s. | 229.6 | 303.3 | 47.2 |
| Balance of trade | -37,787.0 | -94,539.5 | · |
| 1 Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year -10.2 per cent. | |||