Iceland recorded a trade deficit of ISK 18.8 billion in September of 2021, up from ISK 11.2 billion in the same month of last year. Imports jumped 18.1 percent to ISK 85.7 billion, driven mostly by purchases of capital goods (41.7 percent), industrial supplies (11 percent), fuels & lubricants (59.5 percent), food & beverages (7.0 percent), and consumer goods (6.9 percent). Meantime, exports advanced at a slower 9.0 percent to ISK 66.9 billion, particularly pushed by sales of manufacturing products (45 percent) and other products (37.9 percent), while sales of agricultural products (-28.9 percent) and marine products (-17.0 percent) shrank. source: Statistics Iceland
Balance of Trade in Iceland averaged -2360.48 ISK Million from 1960 until 2021, reaching an all time high of 21093 ISK Million in December of 2008 and a record low of -47658.60 ISK Million in June of 2021. 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 - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
Balance of Trade in Iceland is expected to be -14700.00 ISK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Balance of Trade is projected to trend around -13900.00 ISK Million in 2022, according to our econometric models.