In August 2019, the value of exported goods in BOP* was estimated 46,100 million ISK and value of imported goods was estimated 57,200 million ISK. Hence, a deficit of balance of trade in goods in BOP was estimated 11,100 million ISK. In the same month, export of services was estimated 78,700 million ISK and import of services was estimated 38,700 million ISK. Hence, the surplus of balance of trade in services was estimated 40,000 million ISK in August 2019.
Total export of trade in goods and services was therefore estimated 124,800 million ISK in August and total import of trade in goods and services was estimated 95,900 million ISK. The surplus of balance of trade in goods and services was estimated 28,900 million ISK in August 2019.
In the first eight months of 2019, total export of trade in goods and services was estimated to be 895,200 million ISK compared with 863,800 million ISK in the first eight months of 2018. For the same period, estimated import of trade in goods and services was 803,600 in 2019 compared with 803,000 million ISK in 2018. The surplus of balance of trade in goods and services was therefore estimated to be 91,500 million ISK in the first eight months of 2019 compared with a surplus of 60,700 million ISK for the same period the year before.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
| The value of exports and imports in January-August 2018 and 2019 | |||||
| Million ISK at current exchange rate | Change on prev. year at current exchange rates % | ||||
| August | January-August | ||||
| 2018 | 2019 | 2018 | 2019 | ||
| Trade in goods and services: Total Exports | 131,918.1 | 124,843.5 | 863,757.7 | 895,190.4 | 3.6 |
| Trade in goods: =Exports in BOP | 48,585.3 | 46,129.6 | 393,115.8 | 438,035.5 | 11.4 |
| Trade in services: Exports total | 83,332.8 | 78,713.9 | 470,641.9 | 457,154.8 | -2.9 |
| Trade in goods and services: Total Imports | 107,233.9 | 95,944.9 | 803,027.8 | 803,684.9 | 0.1 |
| Trade in goods: = Imports in BOP | 66,221.7 | 57,248.7 | 505,372.6 | 507,763.5 | 0.5 |
| Trade in services: Imports total | 41,012.3 | 38,696.2 | 297,655.1 | 295,921.5 | -0.6 |
| Balance of trade in goods and services | 24,684.2 | 28,898.6 | 60,729.9 | 91,505.4 | |