Balance of trade
The value of exported goods from Iceland amounted to ISK 238,300 million fob and the value of imported goods amounted to almost ISK 320,000 million fob (ISK 346,400 million cif) January-October 2007. Thus there was a trade deficit, calculated on fob value, of 81,600 million as compared with a trade deficit of almost ISK 120,000 million in January-October 2006, at fixed rates of exchange¹.
Trade in aircrafts in 2007 has now been corrected due to new information. The result of that is that the trade deficit for the period January-September 2007 was ISK 1,750 million lower that the previous figures indicated. The trade figures for the period January-October 2007 also include an unusually high number of corrections.
Exports
The total value of exports of goods January-October 2007 was ISK 39,000 million or 19.6% higher at constant rates of exchange than the same period the year before.
Imports
The total value of imports of goods January-October 2007 showed decrease of ISK 700 million fob or 0.2% lower than in the same period last year, at fixed rates of exchange.
| Balance of trade in October 2007 | |||||
| Change on previous year at constant exchange rates, % January-October | |||||
| Million ISK at fixed exchange rate | |||||
| October | January–October | ||||
| 2006 | 2007 | 2006 | 2007 | ||
| Exports fob, total | 16,640 | 28,334 | 199,338 | 238,343 | 19.6 |
| Imports fob, total | 28,583 | 34,963 | 319,230 | 319,968 | -0.2 |
| Balance of trade | -8,942 | -6,629 | -119,892 | -81,625 | . |
| The value of exports and imports October 2006 and 2007 | |||
| Change on previous year at constant exchange rates 1) % January-October | |||
| Million ISK at current exchange rate | |||
| October | October | ||
| 2006 | 2007 | ||
| Exports fob, total | 202,414.9 | 238,342.9 | 19.6 |
| Marine products | 104,945.4 | 105,054.9 | 1.7 |
| Agricultural products | 3,148.6 | 2,734.4 | -11.8 |
| Manufacturing products | 75,006.1 | 94,518.9 | 28.0 |
| Other products | 19,314.7 | 36,034.7 | 89.4 |
| Imports fob, total | 324,157.0 | 319,968.2 | 0.2 |
| Food and beverages | 18,593.3 | 20,901.1 | 14.1 |
| Industrial supplies n.e.s. | 81,415.6 | 80,421.8 | 0.3 |
| Fuels and lubricants | 28,387.2 | 29,029.5 | 3.8 |
| Capital goods (except for transport) | 80,077.9 | 71,889.2 | -8.8 |
| Transport equipment | 69,719.1 | 66,764.6 | -2.8 |
| Consumer goods n.e.s. | 45,567.8 | 50,684.4 | 12.9 |
| Goods n.e.s. | 396.0 | 277.5 | -28.8 |
| Balance of trade | -121,742.1 | -81,625.2 | · |
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