Iceland's trade deficit expanded to 28.3 ISK billion in May of 2022 from 14.7 ISK billion a year ago. Exports surged 50 percent to 93.1 ISK billion, driven by increased sales of manufacturing products (+89 percent) and marine products (+21 percent). At the same time, imports rose by a faster 58 percent on year to 121.4 ISK billion amid increased purchase values of fuels and lubricants (+483 percent), and industrial supplies (+64 percent). source: Statistics Iceland
Balance of Trade in Iceland averaged -2570.12 ISK Million from 1960 until 2022, reaching an all time high of 21093 ISK Million in December of 2008 and a record low of -47445.20 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 July of 2022.
Balance of Trade in Iceland is expected to be -13900.00 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 2023, according to our econometric models.