Iceland recorded a trade surplus of ISK 1.9 billion in January of 2021, reversing from a ISK 8.7 billion trade gap a year earlier. It is the first trade surplus since January of 2019, as exports increased 4.7 percent to ISK 49.2 billion, boosted by sales of manufacturing products, namely aluminium and aluminium products, and by agricultural exports, mainly farmed fish. Imports fell 15.1 percent to ISK 47.3 billion, dragged by imported fuels & lubricants and transports & equipment, of which mainly ships and parts. source: Statistics Iceland
Balance of Trade in Iceland averaged -1607.28 ISK Million from 1960 until 2021, reaching an all time high of 24063.60 ISK Million in December of 2008 and a record low of -33367.10 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 February 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. Looking forward, we estimate Balance of Trade in Iceland to stand at -13900.00 in 12 months time. 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.