The value of exported goods in BOP* was estimated 53.1 billion ISK in February 2021 and the value of imported goods was estimated 59.9 billion ISK. Therefore, a deficit in balance of trade in goods in BOP was estimated 6.8 billion ISK. In the same month, export of services was estimated 17.9 billion ISK and import of services was estimated 22.2 billion ISK. Hence, the deficit in balance of trade in services was estimated 4.3 billion ISK.
Total export of trade in goods and services was therefore estimated 71.1 billion ISK in February 2021 and decreased by 20% compared with the same month in 2020. Import of trade in goods and services for the same period was estimated 82.1 billion ISK and remained almost the same compared with February 2020.
Total export of trade in goods and services was estimated at 965.4 billion ISK in the latest 12-month period and decreased by 27% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,008.7 billion ISK and decreased by 15% compared with the previous 12 months. Therefore, the deficit in balance of trade in goods and services was estimated 43.2 billion ISK in the latest 12-month period compared with a surplus of 133.2 billion ISK for the previous 12 months.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
| The value of exports and imports of goods and services (billion ISK) | ||||||
| February 2020 | February 2021 | % | March 2019- February 2020 | March 2020- February 2021 | % | |
| Exports of goods and services | 88.9 | 71.1 | -20 | 1,319.0 | 965.4 | -27 |
| Exports of goods | 46.6 | 53.1 | 14 | 624.4 | 637.4 | 2 |
| Exports of services | 42.4 | 17.9 | -58 | 694.6 | 328.0 | -53 |
| Imports of goods and services | 81.9 | 82.1 | 0 | 1,185.8 | 1,008.7 | -15 |
| Imports of goods | 51.1 | 59.9 | 17 | 749.8 | 726.0 | -3 |
| Imports of services | 30.8 | 22.2 | -28 | 436.0 | 282.7 | -35 |
| Balance of trade in goods and services | 7.0 | -11.1 | 133.2 | -43.2 | ||