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

Iceland's trade gap widened sharply to ISK 19.2 billion in September 2017 from ISK 3.3 billion in the same month a year earlier. Imports jumped 29.4 percent from the previous year to ISK 64.2 billion, due to higher purchases of fuels and lubricants (72.7 percent), capital goods (46 percent), transport equipment (30.5 percent), industrial supplies (23.2 percent) and consumer goods (13.9 percent). In contrast, imports of food and beverages fell 14.3 percent. Meanwhile, exports declined 2.8 percent to ISK 45.0 billion, as a fall in sales of manufactured products (-5.9 percent) and other products (-7.7 percent) offset an increase in exports of marine products (1.5 percent). Year-to-date, the trade deficit widened to ISK 133.6 billion from ISK 90.3 billion in the same period of 2016. Balance of Trade in Iceland averaged -452.10 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 Actual Previous Consensus TEForecast
2017-08-04 09:00 AM Balance of Trade ISK -21.4B ISK -14B ISK-9.6B
2017-09-06 09:00 AM Balance of Trade ISK -9.6B ISK -22.8B ISK-16.2B
2017-10-05 09:00 AM Balance of Trade ISK-19.2B ISK-6.0B ISK -4.2B
2017-11-06 09:00 AM Balance of Trade ISK-19.2B
2017-12-06 09:00 AM Balance of Trade


Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -19200.00 -6017.20 24063.60 -25843.30 ISK Million [+]
Exports 45000.00 45937.90 63354.30 0.78 ISK Million [+]
Imports 64200.00 51955.10 72899.10 1.21 ISK Million [+]
Current Account 16.29 8.21 100.85 -137.24 ISK Billion [+]
Current Account to GDP 8.00 5.50 8.00 -23.20 percent [+]
External Debt 2558252.00 2781676.00 15748529.00 280593.00 ISK Million [+]
Capital Flows -3.92 16.37 414.27 -418.16 ISK Billion [+]
Gold Reserves 1.98 1.98 2.00 1.84 Tonnes [+]
Foreign Direct Investment -22404.00 -45408.00 199978.00 -90129.00 ISK Million [+]
Terrorism Index 0.25 1.22 1.22 0.00 [+]
Tourist Arrivals 146429.00 153536.00 241559.00 10592.00 [+]
Remittances 753.00 816.00 2448.00 18.00 ISK Million [+]

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



Iceland Balance of Trade

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 October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-19200.00 -6017.20 24063.60 -25843.30 1960 - 2017 ISK Million Monthly
Current Prices, NSA




balance of trade by Country

Last
Australia 989.00 Aug/17
Brazil 5178.00 Sep/17
Canada -3413.40 Aug/17
China 286.10 Sep/17
Euro Area 16086.90 Aug/17
France -4514.00 Aug/17
Germany 20000.00 Aug/17
India -8984.29 Sep/17
Indonesia 1760.00 Sep/17
Italy 2769.02 Aug/17
Japan 670.17 Sep/17
Mexico -2732.00 Aug/17
Netherlands 4073.00 Aug/17
Russia 6612.00 Aug/17
South Korea 13800.00 Sep/17
Spain -3226685.00 Aug/17
Switzerland 2917.62 Sep/17
Turkey -5873.11 Aug/17
United Kingdom -5626.00 Aug/17
United States -42395.00 Aug/17