Statistics Iceland publishes now for the first time price and volume indices for external trade in goods statistics. The indices are in accordance with the SITC classification (Standard International Trade Classification, Rev.4) and will be published on a quarterly basis. The indices will show the quarterly development in price and volume changes in both imports and exports from 2001 to 2017.
Import and export indices measure quarterly changes in prices in external trade in goods and have been used for adjustments in national accounts, i.e. to calculate terms of trade, and generally, to analyse external trade in goods data. These indices are most useful for those working in public and private finance as well as non-financial corporations, and they are used for a number of purposes such as economic and market based research.
Balance of trade data have been compiled mostly from customs declarations on imports and exports of goods, in addition to other external trade in goods data from the government and enterprises compiled by Statistics Iceland on a regular basis.
In addition to quarterly export and import indices, Statistics Iceland also publishes now terms of trade for the years 2001-2016.
For more information, including methodology, time-series and frequency of publication, please refer to the metadata.