The total value of exports of services in July 2022 is estimated at 88.3 billion ISK, increasing by 54% compared with July 2021, at current rates of exchange. The total exported value of travel in July is estimated at 47.0 billion ISK and to have increased by 53% compared with the same month last year. Exported value of transport services is estimated at 25.4 billion ISK in July, having almost doubled compared with July 2021. The value of exports of other services was estimated at 15.4 billion ISK in July, increasing by 18% compared with July the year before.
The total value of imports of services in July is estimated to have been at 52.6 billion ISK and increased by 61% from July 2021, at current rates of exchange. The total imported value of travel in July is estimated at 21,3 billion ISK and to have more than doubled compared with the same month the year before. Imported value of transport services in July is estimated at 8.1 billion ISK, having increased by 31% compared with July 2021, while the value of imports of other services is estimated to have been at 23.2 billion ISK in July, increasing by 44% compared with July the year before. In total a surplus of 35.7 billion ISK was recorded in July.
For the period August 2021 to July 2022, the total value of exports of services is estimated at 642.9 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 513.1 billion ISK, having increased by 66% compared with the same period the year before.
The value of exported goods in BOP* is estimated at 76.2 billion ISK in July 2022 and the value of imported goods is estimated at 100.4 billion ISK. Therefore, a deficit in balance of trade in goods in BOP is estimated at 24.2 billion ISK. Total export of trade in goods and services is estimated at 164.4 billion ISK in July 2022, increasing by 31% compared with the same month the previous year. Moreover, total import of trade in goods and services is estimated at 153 billion ISK in the same period, having increased by 39% compared with the same month the previous year. Therefore, the surplus in balance of trade in goods and services is estimated at 11.4 billion ISK in July compared with a surplus of 15.3 billion ISK for the same month 2021.
The value of exports of trade in goods and services is estimated at 1,552.6 billion ISK in the 12-month period August 2021 to July 2022 and to have increased by 43% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,593.1 billion ISK and increased by 41%. Therefore, the deficit in balance of trade in goods and services is estimated at 40.5 billion ISK in that 12-month period compared with a deficit of 39 billion ISK for the previous 12 months.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.