The total value of exports of services in August 2021 was estimated 57.4 billion ISK and increased by 78% from August 2020, at current rates of exchange. The total exported value of travel in August was estimated 32.1 billion ISK and has been increasing at a considerable rate compared with the same month last year for the recent months. Exported value of transport services was estimated 13.8 billion ISK in August and increased by 129% compared with August 2020. The value of exports of other services was estimated 11.4 billion ISK in August and decreased by 17% compared with August last year.
The total value of imports of services in August was estimated 34.9 billion ISK and increased by 40% from August 2020, at current rates of exchange. The total imported value of travel in August was estimated 10.3 billion ISK and increased by 74% compared with the same month last year. Imported value of transport services was estimated 6.7 billion ISK in August and increased by 38% compared with August 2020 while the value of imports of other services was estimated 17.9 billion ISK in August, increasing by 27% compared with August last year.
For the period September 2020 to August 2021, the total value of exports of services was estimated 408.3 billion ISK and decreased by 16% compared with the 12 months prior at current rates of exchange. The value for imports of services for the same period was estimated 319 billion ISK and decreased by 10% compared with the same period the year before.
| August 2020 | August 2021 | % | September 2019-August 2020 | September 2020-August 2021 | % | |
| Exports of services | 32.2 | 57.4 | 78 | 485.8 | 408.3 | -16 |
| Transport | 6.0 | 13.8 | 129 | 126.3 | 96.7 | -23 |
| Travel | 12.5 | 32.1 | 158 | 169.2 | 105.0 | -38 |
| Other service categories | 13.7 | 11.4 | -17 | 190.3 | 206.6 | 9 |
| Imports of services | 24.9 | 34.9 | 40 | 354.6 | 319.0 | -10 |
| Transport | 4.9 | 6.7 | 38 | 67.5 | 64.4 | -5 |
| Travel | 5.9 | 10.3 | 74 | 117.0 | 62.9 | -46 |
| Other service categories | 14.1 | 17.9 | 27 | 170.2 | 191.7 | 13 |
| Balance of trade in services | 7.3 | 22.5 | 131.1 | 89.3 |
The value of exported goods in BOP* was estimated 56.3 billion ISK in August 2021 and the value of imported goods was estimated 82.1 billion ISK. Therefore, a deficit in balance of trade in goods in BOP was estimated 25.8 billion ISK. Total export of trade in goods and services was estimated 113.7 billion ISK in August 2021 and increased by 48% compared with the same month last year. Total import of trade in goods and services was estimated 117 billion ISK in the same period and increased by 42% compared with the same month last year.
The value of exports of trade in good and services was estimated 1,118.2 billion ISK in the latest 12-month period and increased by 2% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,161.6 billion ISK and increased by 9% compared with the previous 12 months. Therefore, the deficit in balance of trade in goods and services was estimated 43.5 billion ISK in the latest 12-month period compared with a surplus of 26.3 billion ISK for the previous 12 months.
| The value of exports and imports of goods and services (billion ISK) | ||||||
| August 2020 | August 2021 | % | September 2019-August 2020 | September 2020-August 2021 | % | |
| Exports of goods and services | 76.9 | 113.7 | 48 | 1,092.4 | 1,118.2 | 2 |
| Exports of goods | 44.7 | 56.3 | 26 | 606.7 | 709.9 | 17 |
| Exports of services | 32.2 | 57.4 | 78 | 485.8 | 408.3 | -16 |
| Imports of goods and services | 82.3 | 117.0 | 42 | 1,066.1 | 1,161.6 | 9 |
| Imports of goods | 57.4 | 82.1 | 43 | 711.5 | 842.7 | 18 |
| Imports of services | 24.9 | 34.9 | 40 | 354.6 | 319.0 | -10 |
| Balance of trade in goods and services | -5.4 | -3.2 | 26.3 | -43.5 | ||
*According to Balance of Payments (BOP) and National Accounts (NA) standards.