The value of exported goods in BOP* was estimated 52.6 billion ISK in January 2020 and value of imported goods was estimated 50.5 billion ISK. Hence, a surplus of balance of trade in goods in BOP was estimated 2.0 billion ISK. In the same month, export of services was estimated 40.3 billion ISK and import of services was estimated 31.9 billion ISK. Hence, the surplus of balance of trade in services was estimated 8.4 billion ISK in January 2020.
In January 2020, total export of trade in goods and services was estimated at 92.9 billion ISK compared with 121.2 billion ISK in January 2019. It should, however, be noted that in January 2019 the export of vessels and aircrafts was 27.3 billion ISK. In January 2020, estimated import of trade in goods and services was 82.5 billion compared with 85.5 billion ISK in January 2019. The surplus of balance of trade in goods and services was therefore an estimated 10.4 billion ISK in January 2020 compared with a surplus of 35.7 billion ISK for the same month the year before.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
| The value of exports and imports in January 2019 and 2020 | |||
| Million ISK at current exchange rate | Change on prev. year at current exchange rates % | ||
| January | |||
| 2019 | 2020 | ||
| Trade in goods and services: Total Exports | 121,173.1 | 92,855.2 | -23.4 |
| Trade in goods: =Exports in BOP | 77,429.8 | 52,550.7 | -32.1 |
| Trade in services: Exports total | 43,743.3 | 40,304.5 | -7.9 |
| Trade in goods and services: Total Imports | 85,506.6 | 82,451.6 | -3.6 |
| Trade in goods: = Imports in BOP | 52,061.3 | 50,534.7 | -2.9 |
| Trade in services: Imports total | 33,445.3 | 31,916.9 | -4.6 |
| Balance of trade in goods and services | 35,666.5 | 10,403.6 | |