The total value of exports of services in August 2022 is estimated at 93 billion ISK, increasing by 63% compared with August 2021, at current rates of exchange. The total exported value of travel in August is estimated at 50.3 billion ISK and to have increased by 57% compared with the same month last year. Exported value of transport services is estimated at 28.7 billion ISK in August, having more than doubled compared with August 2021. The value of exports of other services was estimated at 14 billion ISK in August, increasing by 21% compared with August the year before.
The total value of imports of services in August is estimated to have been at 49.7 billion ISK and increased by 49% from August 2021, at current rates of exchange. The total imported value of travel in August is estimated at 19 billion ISK and to have increased by 80% compared with the same month the year before. Imported value of transport services in August is estimated at 10 billion ISK, having increased by 57% compared with August 2021, while the value of imports of other services is estimated to have been at 20.7 billion ISK in August, increasing by 25% compared with August the year before. In total a surplus of 43.3 billion ISK was recorded in August.
For the period September 2021 to August 2022, the total value of exports of services is estimated at 683.6 billion ISK and to have increased by 68% compared with the 12 months prior, at current rates of exchange. The value for imports of services for the same period is estimated at 528.6 billion ISK, having increased by 67% compared with the same period the year before.
The value of exported goods in BOP* is estimated at 94.5 billion ISK in August 2022 and the value of imported goods is estimated at 105.1 billion ISK. Therefore, a deficit in balance of trade in goods in BOP is estimated at 10.5 billion ISK. Total export of trade in goods and services is estimated at 187.5 billion ISK in August 2022, increasing by 65% compared with the same month the previous year. Moreover, total import of trade in goods and services is estimated at 154.8 billion ISK in the same period, having increased by 34% compared with the same month the previous year. Therefore, the surplus in balance of trade in goods and services is estimated at 32.7 billion ISK in August compared with a deficit of 1.2 billion ISK for the same month 2021.
The value of exports of trade in goods and services is estimated at 1,631.1 billion ISK in the 12-month period September 2021 to August 2022 and to have increased by 45% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,632 billion ISK and increased by 41%. Therefore, the deficit in balance of trade in goods and services is estimated at 0.9 billion ISK in that 12-month period compared with a deficit of 37.1 billion ISK for the previous 12 months.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.