Balance of trade
The value of exported goods from Iceland amounted to ISK 100,700 million fob and the value of imported goods amounted to ISK 86,100 million fob (ISK 94,100 million cif) January-March 2009. Thus there was a trade surplus, calculated on fob value, of 14,600 million as compared with a trade deficit of ISK 37,500 million in January-March 2008, at fixed rates of exhange¹.
Exports
The total value of exports of goods January-March 2009 was ISK 17,400 million or 14.7% lower at constant rates of exchange than in the same period the year before. Marine products were 42% of the total exports and their value 13.2% lower than the same period the year before. Exported manufacturing products were 49% of total exported goods and their value was 15.3% less than in the same period the year before. The largest decrease in value occurred in the export of manufacturing products, mainly aluminium.
Imports
The total value of imports of goods January-March 2009 was ISK 69,400 million or 44.6% lower at constant rates of exchange that in the same period the year before. The was a decrease in almost all items of imports, largest in capital goods and transport equipments.
| Balance of trade in January March 2009 | |||||
| Change on previous year at constant exchange rates, % January-March | |||||
| Million ISK at fixed exchange rate | |||||
| March | January–March | ||||
| 2008 | 2009 | 2008 | 2009 | ||
| Exports fob, total | 45,935 | 34,738 | 118,039 | 100,685 | -14.7 |
| Imports fob, total | 49,078 | 26,483 | 155,563 | 86,123 | -44.6 |
| Balance of trade | -3,143 | 8,256 | -37,524 | 14,562 | . |
| The value of exports and imports January-March 2008 and 2009 | |||
| Change on previous year at constant exchange rates 1) % January-March | |||
| Million ISK at current exchange rate | |||
| January-March | January-March | ||
| 2008 | 2009 | ||
| Exports fob, total | 78,233.4 | 100,684.6 | -14.7 |
| Marine products | 32,553.6 | 42,645.5 | -13.2 |
| Agricultural products | 1,177.1 | 2,168.0 | 22.1 |
| Manufacturing products | 38,645.8 | 49,387.2 | -15.3 |
| Other products | 5,857.0 | 6,484.0 | -26.6 |
| Imports fob, total | 103,103.9 | 86,122.9 | -44.6 |
| Food and beverages | 7,693.4 | 8,497.2 | -26.8 |
| Industrial supplies n.e.s. | 28,521.7 | 28,138.4 | 34.6 |
| Fuels and lubricants | 9,445.5 | 10,047.5 | -29.5 |
| Capital goods (except for transport) | 25,709.9 | 20,199.2 | -47.9 |
| Transport equipment | 15,744.5 | 6,264.2 | -73.6 |
| Consumer goods n.e.s. | 15,935.5 | 12,835.4 | -46.6 |
| Goods n.e.s. | 53.3 | 141.0 | 75.2 |
| Balance of trade | -24,870.4 | 14,561.7 | · |
¹ Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year 50.9%. In March 2009, foreign currency prices were 34.0% higher than in March 2008.
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