The total value of exports of services in November 2021 was estimated 40.3 billion ISK and increased by 63% from November 2020, at current rates of exchange. The total exported value of travel in November was estimated 14 billion ISK and has been increasing at a considerable rate compared with the same month last year for the recent months. Exported value of transport services was estimated 10.3 billion ISK in November and increased by 61% compared with November 2020. The value of exports of other services was estimated 15.9 billion ISK in November and decreased by 1% compared with November the year before.
The total value of imports of services in November was estimated 40.9 billion ISK and increased by 60% from November 2020, at current rates of exchange. The total imported value of travel in November was estimated 12.4 billion ISK and increased considerable compared with the same month the year before. Imported value of transport services was estimated 8 billion ISK in November and increased by 73% compared with November 2020 while the value of imports of other services was estimated 20.5 billion ISK in November, increasing by 18% compared with November the year before.
For the period December 2020 to November 2021, the total value of exports of services was estimated 464.4 billion ISK and increased by 18% compared with the 12 months prior at current rates of exchange. The value for imports of services for the same period was estimated 358.5 billion ISK and increased by 12% compared with the same period the year before.
The value of exported goods in BOP* was estimated 72.4 billion ISK in November 2021 and the value of imported goods was estimated 93.5 billion ISK. Therefore, a deficit in balance of trade in goods in BOP was estimated 21 billion ISK. Total export of trade in goods and services was estimated 112.8 billion ISK in November 2021 and increased by 48% compared with the same month the previous year. Total import of trade in goods and services was estimated 134.4 billion ISK in the same period and increased by 53% compared with the same month the previous year.
The value of exports of trade in good and services was estimated 1,212.1 billion ISK in the latest 12-month period and increased by 21% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,260 billion ISK and increased by 22% compared with the previous 12 months. Therefore, the deficit in balance of trade in goods and services was estimated 47.9 billion ISK in the latest 12-month period compared with a deficit of 28.8 billion ISK for the previous 12 months.
The treatment of lease agreements in external trade is under review and the revision might affect both the balance of trade in goods and trade in services.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
Statistics
External trade in services, monthly 2018-2021
Monthly transition table, trade in goods, trade in services and BOP 2018-2021