The trade deficit in Iceland fell to ISK 10.7 billion in December of 2018 from ISK 23.6 billion in the corresponding month of the previous year, preliminary figures showed. Exports surged 26.1 percent from a year earlier to ISK 11.3 billion, mainly due to higher sales of seafood products. Additionally, imports went down 2.5 percent to ISK 1.7 billion. Balance of Trade in Iceland averaged -734.12 ISK Million from 1960 until 2018, 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.

Balance of Trade in Iceland is expected to be -8700.00 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 -24400.00 in 12 months time. In the long-term, the Iceland Balance of Trade is projected to trend around -22100.00 ISK Million in 2020, according to our econometric models.

Iceland Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-04 09:00 AM Balance of Trade ISK -15.1B ISK -17B ISK -20.1B
2018-11-06 09:00 AM Balance of Trade ISK -11.7K ISK -14.1B ISK -13.5B
2018-12-06 09:00 AM Balance of Trade ISK -17.7K ISK -12.1K ISK -14.1B
2019-01-09 09:00 AM Balance of Trade ISK -10.7M ISK -18.8K
2019-02-06 09:00 AM Balance of Trade ISK -10.7M
2019-03-06 09:00 AM Balance of Trade
2019-04-04 09:00 AM Balance of Trade


Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -10700.00 -18769.40 24063.60 -25843.30 ISK Million [+]
Current Account 76.46 -4.13 99.57 -137.24 ISK Billion [+]
Current Account to GDP 3.30 7.50 7.50 -23.00 percent [+]
Imports 17000.00 72545.20 73176.80 1.21 ISK Million [+]
Exports 11300.00 54775.80 63354.30 0.78 ISK Million [+]
External Debt 2358.30 2339.78 15748.53 280.59 ISK Billion [+]
Capital Flows 85.74 -18.75 414.27 -418.16 ISK Billion [+]
Gold Reserves 2.00 2.00 2.00 1.84 Tonnes [+]
Remittances 1404.00 1145.00 2448.00 18.00 ISK Million [+]
Terrorism Index 0.13 0.25 1.22 0.00 [+]
Tourist Arrivals 231681.00 291344.00 291344.00 10592.00 [+]
Foreign Direct Investment -36.41 2.13 199.98 -550.71 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-10700.00 -18769.40 24063.60 -25843.30 1960 - 2018 ISK Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 979.00 Nov/18
Australia 1925.00 Nov/18
Brazil 6639.00 Dec/18
Canada -2060.10 Nov/18
China 570.60 Dec/18
Euro Area 18967.90 Nov/18
France -5099.00 Nov/18
Germany 20500.00 Nov/18
India -13080.00 Dec/18
Indonesia -1102.00 Dec/18
Italy 3843.00 Nov/18
Japan -737.30 Nov/18
Mexico -2382.00 Nov/18
Netherlands 6983.00 Nov/18
Russia 18984.00 Nov/18
Saudi Arabia 184673.00 Sep/18
Singapore 1943.12 Dec/18
South Africa 3494.40 Nov/18
South Korea 4558.00 Dec/18
Spain -3836500.00 Oct/18
Switzerland 3071.48 Nov/18
Turkey -651.36 Nov/18
United Kingdom -2904.00 Nov/18
United States -55488.00 Oct/18


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