The value of exported goods in BOP* was estimated 48.6 billion ISK in February 2020 and value of imported goods was estimated 49.3 billion ISK. Hence, a deficit of balance of trade in goods in BOP was estimated 0.7 billion ISK. In the same month, export of services was estimated 38 billion ISK and import of services was estimated 30.8 billion ISK. Hence, the surplus of balance of trade in services was estimated 7.2 billion ISK.
Total export of trade in goods and services was therefore estimated 86.6 billion ISK in February and total import of trade in goods and services was estimated 80.1 billion ISK. The surplus of balance of trade in goods and services was estimated 6.5 billion ISK in February 2019.
Total export of trade in goods and services was estimated at 179.5 billion ISK in the first two months of 2020 compared with 207.7 billion ISK in the first two months of 2019. For the same period, estimated import of trade in goods and services was 162.6 in 2020 compared with 179 billion ISK in 2019. Therefore, the surplus of balance of trade in goods and services was estimated 16.9 billion ISK in the first two months of 2020 compared with a surplus of 28.7 billion 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-February 2019 and 2020 | |||||
| Million ISK at current exchange rate | Change on prev. year at current exchange rates % | ||||
| February | January-February | ||||
| 2019 | 2020 | 2019 | 2020 | ||
| Trade in goods and services: Total Exports | 86,518.9 | 86,603.2 | 207,692.0 | 179,458.5 | -13.6 |
| Trade in goods: =Exports in BOP | 45,597.6 | 48,585.5 | 123,027.4 | 101,136.2 | -17.8 |
| Trade in services: Exports total | 40,921.4 | 38,017.8 | 84,664.6 | 78,322.3 | -7.5 |
| Trade in goods and services: Total Imports | 93,472.6 | 80,106.2 | 178,979.2 | 162,557.8 | -9.2 |
| Trade in goods: = Imports in BOP | 60,361.3 | 49,267.9 | 112,422.6 | 99,802.7 | -11.2 |
| Trade in services: Imports total | 33,111.2 | 30,838.3 | 66,556.5 | 62,755.2 | -5.7 |
| Balance of trade in goods and services | -6,953.6 | 6,497.1 | 28,712.8 | 16,900.7 | |