Iceland’s trade deficit widened to ISK 15.9 billion in April of 2019 from ISK 15.6 billion in the corresponding month of the previous year, according to preliminary estimates. Exports rose 7.8 percent from a year earlier to ISK 50.2 billion, boosted by higher sales of marine products. Meanwhile, imports went up at a softer 6.3 percent to ISK 66.1 billion, mainly due to an increase in the imports of industrial supplies. Balance of Trade in Iceland averaged -766.76 ISK Million from 1960 until 2019, reaching an all time high of 24202.30 ISK Million in January of 2019 and a record low of -25843.30 ISK Million in December of 2006.

Balance of Trade in Iceland is expected to be -19400.00 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 -10400.00 in 12 months time. In the long-term, the Iceland Balance of Trade is projected to trend around -13900.00 ISK Million in 2020, according to our econometric models.

Iceland Balance of Trade
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
2019-02-06 09:00 AM Balance of Trade ISK 4.6M ISK -11M ISK -5.5B
2019-03-06 09:00 AM Balance of Trade ISK -15.3M ISK 7M ISK -13.8B
2019-04-04 09:00 AM Balance of Trade ISK-13.2M ISK-15.1M ISK-11.7B
2019-05-07 09:00 AM Balance of Trade ISK-15.9B ISK-8.8B ISK-15.8B
2019-06-06 09:00 AM Balance of Trade ISK-15.9B ISK-16.5B
2019-07-04 09:00 AM Balance of Trade ISK-19.4B
2019-08-07 09:00 AM Balance of Trade


Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -15900.00 -8796.10 24202.30 -25843.30 ISK Million [+]
Current Account 0.30 75.13 99.57 -137.24 ISK Billion [+]
Current Account to GDP 2.80 3.30 7.50 -23.00 percent [+]
Imports 66100.00 61489.10 73176.80 1.21 ISK Million [+]
Exports 50200.00 52693.10 76557.90 0.78 ISK Million [+]
External Debt 2317.03 2352.01 15748.53 280.59 ISK Billion [+]
Capital Flows 40.23 91.74 414.27 -418.16 ISK Billion [+]
Gold Reserves 2.00 2.00 2.00 1.84 Tonnes [+]
Remittances 1518.00 1404.00 2448.00 18.00 ISK Million [+]
Terrorism Index 0.06 0.13 1.22 0.00 [+]
Tourist Arrivals 120306.00 170177.00 291344.00 10592.00 [+]
Foreign Direct Investment 26.12 -44.05 199.98 -553.03 ISK Billion [+]

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



Iceland Balance of Trade

In 2017, Iceland's trade deficit widened sharply by 65 percent from the previous year to ISK 178 billion. Imports jumped 8 percent mainly boosted by higher purchases of industrial supplies, ships and transport equipment, while exports fell 4 percent due to a steep decline in marine products sales. The largest trade deficits were recorded with China, Norway, Germany, Denmark and Sweden; while the biggest trade surpluses were recorded with the Netherlands, Spain and France. 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 May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-15900.00 -8796.10 24202.30 -25843.30 1960 - 2019 ISK Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 1183.00 Mar/19
Australia 4949.00 Mar/19
Brazil 6060.00 Apr/19
Canada -3211.20 Mar/19
China 138.39 Apr/19
Euro Area 22532.90 Mar/19
France -5324.00 Mar/19
Germany 22683.00 Mar/19
India -15330.00 Apr/19
Indonesia -2501.90 Apr/19
Italy 4625.00 Mar/19
Japan 528.50 Mar/19
Mexico 1429.00 Mar/19
Netherlands 5330.00 Mar/19
Russia 15537.00 Mar/19
Saudi Arabia 180059.00 Dec/18
Singapore 2782.79 Apr/19
South Africa 5004.63 Mar/19
South Korea 4120.00 Apr/19
Spain -2627773.00 Feb/19
Switzerland 2494.00 Mar/19
Turkey -2136.73 Mar/19
United Kingdom -5408.00 Mar/19
United States -50000.00 Mar/19


Related

Latest