Iceland Balance of Trade  1960-2017 | Data | Chart | Calendar | Forecast

Iceland's trade deficit widened to ISK 11.2 billion in April 2017 from ISK 6.3 billion in the same month a year earlier, according to a preliminary estimate. Exports fell sharply by 13.1 percent to ISK 41.0 billion, due to lower sales of marine products (-13.4 percent) and manufacturing products (-12.6 percent). Meanwhile, imports declined at a slower 2.4 percent to ISK 52.2 billion, as purchases fell mostly for transport equipment (-22.6 percent), fuels and lubricants (-17.4 percent) and consumer goods (-5.9 percent). In the first four months of the year, the trade deficit widened to ISK 48.7 billion from ISK 31.9 billion in the same period of 2016. Balance of Trade in Iceland averaged -330.77 ISK Million from 1960 until 2017, reaching an all time high of 24063.60 ISK Million in December of 2008 and a record low of -25843.30 ISK Million in December of 2006.

Iceland Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-03-06 09:00 AM Feb ISK-10.9B ISK-8.6B ISK -9.8B
2017-04-06 09:00 AM Mar ISK-16.2B ISK-12.7B ISK-17.4B
2017-05-05 09:00 AM Apr ISK -11.2B ISK-16.1B ISK -7.1B
2017-06-07 09:00 AM May ISK -11.2B
2017-07-06 09:00 AM Jun
2017-08-04 09:00 AM Jul




Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -11200.00 -16106.50 24063.60 -25843.30 ISK Million [+]
Exports 41000.00 39533.10 63354.30 0.78 ISK Million [+]
Imports 52200.00 55639.60 66338.70 1.21 ISK Million [+]
Current Account 44.72 100.67 100.67 -137.24 ISK Billion [+]
Current Account to GDP 4.20 3.30 5.70 -23.20 percent [+]
External Debt 2823222.00 3052311.00 15748529.00 280593.00 ISK Million [+]
Capital Flows 112.57 53.09 414.27 -418.16 ISK Billion [+]
Gold Reserves 1.98 1.98 2.00 1.84 Tonnes [+]
Foreign Direct Investment -78286.00 14919.00 199978.00 -90129.00 ISK Million [+]
Remittances 825.00 521.00 2448.00 18.00 ISK Million [+]
Terrorism Index 0.25 1.22 1.22 0.00 [+]
Tourist Arrivals 167806.00 148343.00 241559.00 10592.00 [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Iceland Balance of Trade Notes

Iceland's economy is highly export-driven. Iceland’s main exports are fish and fish products, aluminum and alloys and animal products. Iceland’s main imports are machinery and equipment, petroleum products, foodstuffs and textiles. European Union is by far its largest trading partner, accounting for about 75% of exports and 60% of imports. Other major trading partners are The United States and Japan. This page provides the latest reported value for - Iceland Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Iceland Balance of Trade - actual data, historical chart and calendar of releases - was last updated on May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-11200.00 -16106.50 24063.60 -25843.30 1960 - 2017 ISK Million Monthly
Current Prices, NSA



balance of trade by Country

Last
Australia 3107.00 Mar/17
Brazil 6969.00 Apr/17
Canada -134.70 Mar/17
China 380.48 Apr/17
Euro Area 30899.90 Mar/17
France -5353.00 Mar/17
Germany 25385.00 Mar/17
India -13249.19 Apr/17
Indonesia 1238.30 Apr/17
Italy 5418.04 Mar/17
Japan 481.75 Apr/17
Mexico 616.79 Apr/17
Netherlands 6719.00 Mar/17
Russia 12598.00 Mar/17
South Korea 13254.00 Apr/17
Spain -1458000.00 Mar/17
Switzerland 1968.25 Apr/17
Turkey -4492.00 Mar/17
United Kingdom -4900.00 Mar/17
United States -43706.00 Mar/17