Balance of trade
The value of exported goods from Iceland amounted to ISK 302,800 million fob and the value of imported goods amounted to ISK 390,700 million fob (ISK 422,900 million cif) January-December 2007. Thus there was a trade deficit, calculated on fob value, of 87,900 million as compared with a trade deficit of ISK 155,700 million in January-December 2006, at fixed rates of exchange¹.
Exports
The total value of exports of goods January-December 2007 was ISK 64,200 million or 26.9% higher at constant rates of exchange than the same period the year before.
Imports
The total value of imports of goods January-December 2007 showed decrease of ISK 3,500 million fob or 0.9% lower than in the same period last year, at fixed rates of exchange.
| Balance of trade in December 2007 | |||||
| Change on previous year at constant exchange rates, % January-December | |||||
| Million ISK at fixed exchange rate | |||||
| December | January–December | ||||
| 2006 | 2007 | 2006 | 2007 | ||
| Exports fob, total | 19,470 | 25,524 | 238,516 | 302,781 | 26.9 |
| Imports fob, total | 39,643 | 34,825 | 394,221 | 390,689 | -0.9 |
| Balance of trade | -20,173 | -9,301 | -155,704 | -87,908 | . |
| The value of exports and imports December 2006 and 2007 | |||
| Change on previous year at constant exchange rates 1) % January-December | |||
| Million ISK at current exchange rate | |||
| December | December | ||
| 2006 | 2007 | ||
| Exports fob, total | 242,740.0 | 302,780.8 | 26.9 |
| Marine products | 124,375.0 | 127,618.6 | 4.4 |
| Agricultural products | 4,335.0 | 3,496.3 | -17.9 |
| Manufacturing products | 93,020.3 | 118,580.5 | 29.7 |
| Other products | 21,009.7 | 53,085.5 | · |
| Imports fob, total | 401,201.5 | 390,688.7 | -0,9 |
| Food and beverages | 23,162.3 | 25,843.1 | 13.5 |
| Industrial supplies n.e.s. | 96,905.4 | 102,251.7 | 7.4 |
| Fuels and lubricants | 34,661.1 | 35,138.9 | 3.2 |
| Capital goods (except for transport) | 96,448.3 | 85,827.6 | -9.4 |
| Transport equipment | 93,321.6 | 79,467.2 | -13.3 |
| Consumer goods n.e.s. | 56,277.0 | 61,810.0 | 11.8 |
| Goods n.e.s. | 425.8 | 350.2 | -16.3 |
| Balance of trade | -158,461.5 | -87,907.8 | · |
¹ Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year -1.7%. In December 2007, foreign currency prices were 3.3% lower than in December 2006
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