Iceland recorded a trade deficit of 12234 ISK Million in August of 2019. Balance of Trade in Iceland averaged -855.16 ISK Million from 1960 until 2019, reaching an all time high of 24129 ISK Million in January of 2019 and a record low of -28560 ISK Million in June of 2019.

Balance of Trade in Iceland is expected to be -14800.00 ISK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Iceland to stand at -10400.00 in 12 months time. In the long-term, the Iceland Balance of Trade is projected to trend around -13900.00 ISK Million in 2020, according to our econometric models.

Iceland Balance of Trade
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Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-06 09:00 AM Balance of Trade May ISK-16.4B ISK-15.1B ISK-16.5B
2019-07-04 09:00 AM Balance of Trade Jun ISK-22.8B ISK-2.6B ISK-19.4B
2019-08-07 09:00 AM Balance of Trade Jul ISK-18.6B ISK-28.6B ISK-21.5B
2019-09-05 09:00 AM Balance of Trade Aug ISK-12.2B ISK-18.6B ISK-19.2B
2019-10-04 09:00 AM Balance of Trade Sep ISK-12.2B ISK-14.8B
2019-11-06 09:00 AM Balance of Trade Oct
2019-12-06 09:00 AM Balance of Trade Nov


Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -12234.00 -19899.70 24129.00 -28560.00 ISK Million [+]
Current Account 11.15 40.33 99.98 -137.24 ISK Billion [+]
Current Account to GDP 2.80 3.30 7.50 -23.00 percent [+]
Imports 57039.60 71457.00 74566.00 1.21 ISK Million [+]
Exports 44805.60 51557.30 76557.90 0.78 ISK Million [+]
External Debt 2408.15 2331.41 15748.53 280.59 ISK Billion [+]
Capital Flows 97.70 45.80 414.27 -418.16 ISK Billion [+]
Gold Reserves 1.98 2.00 2.00 1.84 Tonnes [+]
Remittances 1747.00 1526.00 2448.00 18.00 ISK Million [+]
Terrorism Index 0.06 0.13 1.22 0.00 [+]
Tourist Arrivals 231281.00 194912.00 291344.00 10592.00 [+]
Foreign Direct Investment 8.49 -43.12 199.98 -553.03 ISK Billion [+]

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



Iceland Balance of Trade

In 2017, Iceland's trade deficit widened sharply by 65 percent from the previous year to ISK 178 billion. Imports jumped 8 percent mainly boosted by higher purchases of industrial supplies, ships and transport equipment, while exports fell 4 percent due to a steep decline in marine products sales. The largest trade deficits were recorded with China, Norway, Germany, Denmark and Sweden; while the biggest trade surpluses were recorded with the Netherlands, Spain and France. 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-12234.00 -19899.70 24129.00 -28560.00 1960 - 2019 ISK Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.30 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -1532700.00 Jun/19
Switzerland 1152.71 Aug/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19


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