Iceland recorded a trade gap of ISK 0.4 billion in October of 2020 compared to a surplus of ISK 0.3 billion in the corresponding month of the previous year, according to preliminary estimates. Exports fell 5.5 percent to ISK 61.5 billion, mainly due to lower shipments of marine products. Meantime, imports decreased 4.5 percent to ISK 61.9 billion, amid reduced purchases of fuels. source: Statistics Iceland
Balance of Trade in Iceland averaged -973.03 ISK Million from 1960 until 2020, reaching an all time high of 24063.60 ISK Million in December of 2008 and a record low of -28988.51 ISK Million in June of 2019. 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 November of 2020.
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. Looking forward, we estimate Balance of Trade in Iceland to stand at -14700.00 in 12 months time. In the long-term, the Iceland Balance of Trade is projected to trend around -13900.00 ISK Million in 2021, according to our econometric models.