Balance of trade
The value of exported goods from Iceland amounted to ISK 631,600 million fob and the value of imported goods amounted to ISK 556,100 million fob (ISK 598,000 million cif) January-December 2012. Thus there was a trade surplus, calculated on fob value, of 75,500 million as compared with a trade surplus of ISK 99,400 million in January-December 2011, at fixed rates of exhange¹.
Exports
The total value of exports of goods January-December 2012 was ISK 3,100 million or 0.5% lower at constant rates of exchange than in the same period the year before. Exported manufacturing products were 52.4% of total exported goods and their value was 3.7% less than in the same period the year before. Marine products were 42.5% of the total exports and their value 4.3% higher than the same period the year before. Most increase occurred in the value of export of marine products, mainly fresh fish. On the other hand there was a decrease in the value of exported manufacturing products, mainly aluminium and aluminium products.
Imports
The total value of imports of goods January-December 2012 was ISK 20,800 million or 3.9% higher at constant rates of exchange than in the same period the year before. The largest increase was in transport equipments. On the other hand there was a decrease in the import of industrial supplies.
| Balance of trade in January-December 2012 | |||||
| Change on previous year at constant exchange rates, % January-December | |||||
| Million ISK at fixed exchange rate | |||||
| December | January-December | ||||
| 2011 | 2012 | 2011 | 2012 | ||
| Exports fob, total | 56,205 | 45,010 | 634,700 | 631,610 | -0.5 |
| Imports fob, total | 55,948 | 41,519 | 535,275 | 556,074 | 3.9 |
| Balance of trade | 257 | 3,491 | 99,425 | 75,535 | . |
| The value of exports and imports January-December 2012 | |||
| Change on previous year at constant exchange rates 1) % January-December | |||
| Million ISK at current exchange rate | |||
| January-December | January-December | ||
| 2011 | 2012 | ||
| Exports fob, total | 620,127.4 | 631,609.6 | -0.5 |
| Marine products | 251,572.9 | 268,627.4 | 4.3 |
| Agricultural products | 9,910.5 | 11,370.7 | 12.1 |
| Manufacturing products | 335,479.2 | 330,686.5 | -3.7 |
| Other products | 23,164.8 | 20,925.0 | -11.7 |
| Imports fob, total | 522,985.3 | 556,074.3 | 3.9 |
| Food and beverages | 47,949.8 | 50,343.5 | 2.6 |
| Industrial supplies n.e.s. | 165,225.2 | 158,223.3 | -6.4 |
| Fuels and lubricants | 76,233.2 | 84,344.4 | 8.1 |
| Capital goods (except for transport) | 114,279.5 | 118,174.8 | 1.0 |
| Transport equipment | 45,149.8 | 72,666.5 | 57.2 |
| Consumer goods n.e.s. | 68,536.5 | 70,848.0 | 1.0 |
| Goods n.e.s. | 5,611.2 | 1,473.8 | -74.3 |
| Balance of trade | 97,142.1 | 75,535.2 | . |
¹ Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year 2.3%. In December 2012, foreign currency prices were 4.7% higher than in December 2011.
Monthly figures of external trade for current year are revised together with the release of figures for new months. Annual figures are published in the first half of the year after the end of the reference year. The figures are considered as final at that point of time.