The total value of exports of services in April was estimated 26.2 billion ISK and increased by 39% from April 2020, at current rates of exchange. The total exported value of travel in April was estimated 3.7 billion ISK and has been increasing at a considerable rate compared with the same month last year when the effects of Covid-19 were in full force. Exported value of transport services was estimated 6.7 billion ISK in April and increased by 39% compared with April 2020. The value of exports of other services was estimated 15.7 billion ISK in April and increased by 20% compared with April 2020.
The total value of imports of services in April was estimated 27.0 billion ISK and increased by 44% from April 2020, at current rates of exchange. The total imported value of travel in April was estimated 3.8 billion ISK and increased by 82% compared with the same month last year. Imported value of transport services was estimated 5.2 billion ISK in April and increased by 30% compared with April 2020 while the value of imports of other services was estimated 18.0 billion ISK in April, increasing by 42% compared with April 2020.
For the period May 2020 to April 2021, the total value of exports of services was estimated 327.1 billion ISK and decreased by 50% compared with the 12 months prior at current rates of exchange. The value for imports of services for the same period was estimated 288.5 billion ISK and decreased by 30% compared with the same period the year before.
| The value of exports and imports of services (billion ISK) | ||||||
| April 2020 | April 2021 | % | May 2019- April 2020 | May 2020- April 2021 | % | |
| Exports of services | 18.9 | 26.2 | 39 | 650.5 | 327.1 | -50 |
| Transport | 4.8 | 6.7 | 39 | 183.0 | 79.3 | -57 |
| Travel | 0.9 | 3.7 | 307 | 289.0 | 50.5 | -83 |
| Other service categories | 13.1 | 15.7 | 20 | 178.4 | 197.3 | 11 |
| Imports of services | 18.8 | 27.0 | 44 | 413.2 | 288.5 | -30 |
| Transport | 4.0 | 5.2 | 30 | 78.8 | 59.4 | -25 |
| Travel | 2.1 | 3.8 | 82 | 165.0 | 47.8 | -71 |
| Other service categories | 12.7 | 18.0 | 42 | 169.4 | 181.4 | 7 |
| Balance of trade in services | 0.1 | -0.8 | 237.3 | 38.6 | ||
The value of exported goods in BOP* was estimated 62.0 billion ISK in April 2021 and the value of imported goods was estimated 67.6 billion ISK. Therefore, a deficit in balance of trade in goods in BOP was estimated 5.5 billion ISK. Total export of trade in goods and services was estimated 88.2 billion ISK in April 2021 and increased by 32% compared with the same month last year. Total import of trade in goods and services was estimated 94.6 billion ISK in the same period and increased by 37% compared with the same month last year.
The value of exports of trade in good and services was estimated 983.4 billion ISK in the latest 12-month period and decreased by 23% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,036.9 billion ISK and decreased by 10% compared with the previous 12 months. Therefore, the deficit in balance of trade in goods and services was estimated 53.6 billion ISK in the latest 12-month period compared with a surplus of 117.7 billion ISK for the previous 12 months.
| The value of exports and imports of goods and services (billion ISK) | ||||||
| April 2020 | April 2021 | % | May 2019- April 2020 | May 2020- April 2021 | % | |
| Exports of goods and services | 67.1 | 88.2 | 32 | 1,274.9 | 983.4 | -23 |
| Exports of goods | 48.2 | 62.0 | 29 | 624.4 | 656.3 | 5 |
| Exports of services | 18.9 | 26.2 | 39 | 650.5 | 327.1 | -50 |
| Imports of goods and services | 69.2 | 94.6 | 37 | 1,157.2 | 1,036.9 | -10 |
| Imports of goods | 50.5 | 67.6 | 34 | 744.0 | 748.4 | 1 |
| Imports of services | 18.8 | 27.0 | 44 | 413.2 | 288.5 | -30 |
| Balance of trade in goods and services | -2.2 | -6.3 | 117.7 | -53.6 | ||
*According to Balance of Payments (BOP) and National Accounts (NA) standards.