The total value of exports of services in November 2022 is estimated at 55.8 billion ISK, increasing by 33% compared with November 2021, at current rates of exchange. The total exported value of travel in November is estimated at 20.8 billion ISK, an increase by 49% compared with the same month last year. Exported value of transport services is estimated at 16.8 billion ISK in November, having increased by 44% compared with November 2021. The value of exports of other services was estimated at 18.2 billion ISK in November, increasing by 12% compared with the same month the year before.
The total value of imports of services in November is estimated to have been at 50.9 billion ISK and increased by 23% from November 2021, at current rates of exchange. The total imported value of travel in November is estimated at 17.7 billion ISK and to have increased by 41% compared with the same month the year before. Imported value of transport services in November is estimated at 9.8 billion ISK, having increased by 22% compared with November 2021, while the value of imports of other services is estimated to have been at 23.3 billion ISK in November, increasing by 13% compared with November the year before. In total, a surplus of 4.9 billion ISK was recorded in November.
For the period December 2021 to November 2022, the total value of exports of services is estimated at 738.2 billion ISK, an increase by 56% compared with the 12 months prior, at current rates of exchange. The value for imports of services for the same period is estimated at 571.8 billion ISK, having increased by 60% compared with the same period the year before.
The value of exported goods in BOP* is estimated at 78.7 billion ISK in November 2022 and the value of imported goods is estimated at 109.6 billion ISK. Therefore, a deficit in balance of trade in goods in BOP is estimated at 31 billion ISK. Total export of trade in goods and services is estimated at 134.5 billion ISK in November 2022, increasing by 18% compared with the same month the previous year. Moreover, total import of trade in goods and services is estimated at 160.5 billion ISK in the same period, having increased by 19% compared with the same month the previous year. Therefore, the deficit in balance of trade in goods and services is estimated at 26 billion ISK in November compared with a deficit of 20.4 billion ISK for the same month in 2021.
The value of exports of trade in goods and services is estimated at 1,732.7 billion ISK in the 12-month period December 2021 to November 2022 and to have increased by 40% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,784.5 billion ISK and increased by 42%. Therefore, the deficit in balance of trade in goods and services is estimated at 51.8 billion ISK in that 12-month period compared with a deficit of 19 billion ISK for the previous 12 months.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
Statistics
External trade in services, monthly 2018-2022
Monthly transition table, trade in goods, trade in services and BOP 2018-2022