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

Iceland recorded a trade deficit of ISK 10.9 billion in February, compared to ISK 2.9 billion gap in the same month of the previous year. Year-o-year, exports decreased 26.1 percent to ISK 31.4 billion, dragged down by lower sales of marine products (-55.2 percent from -32.8 percent in January); manufacturing (-5.9 percent from +0.5 percent). By contrast, agricultural products rose faster (20 percent from 14.3 percent). Imports declined 6.6 percent to ISK 42.4 billion, mainly driven by food and beverages (-11.4 percent from -2.6 percent); fuels and lubricants (-13.8 percent from +7.5 percent), transport equipment (-18.4 percent from -32.3 percent); capital goods (-8.7 percent from -7.4 percent) and industrial supplies (-5.9 percent from -3.2 percent). Balance of Trade in Iceland averaged -289.28 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)
2017-01-09 09:00 AM Dec ISK -4.4B ISK-11.7B ISK-7.6B
2017-02-06 09:00 AM Jan ISK-6.7B ISK -8.1B ISK -2.7B
2017-03-06 09:00 AM Feb ISK-10.9B ISK-8.6B ISK -9.8B
2017-04-06 09:00 AM Mar ISK-10.9B
2017-05-05 09:00 AM Apr
2017-06-07 09:00 AM May




Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -10900.00 -8643.10 24063.60 -25843.30 ISK Million [+]
Exports 31400.00 37600.00 63354.30 0.78 ISK Million [+]
Imports 42400.00 44200.00 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 124780.00 131723.00 241559.00 10592.00 [+]



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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-10900.00 -8643.10 24063.60 -25843.30 1960 - 2017 ISK Million Monthly
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