Iceland recorded a trade deficit of 18448.30 ISK Million in December of 2021. source: Statistics Iceland

Balance of Trade in Iceland averaged -2475.59 ISK Million from 1960 until 2021, reaching an all time high of 21093 ISK Million in December of 2008 and a record low of -47619.20 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 January 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.

Ok
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.

Please Paste this Code in your Website
width
height
Iceland Balance of Trade


Calendar GMT Actual Previous Consensus TEForecast
2021-12-07 09:00 AM Nov ISK-28.6B ISK-12.8B
2022-01-07 09:00 AM Dec ISK-18.4B ISK-28.6B ISK -13.9B
2022-02-07 09:00 AM Jan


Related Last Previous Unit Reference
Balance of Trade -18448.30 -28578.90 ISK Million Dec/21
Imports 95072.60 100829.30 ISK Million Dec/21
Exports 76624.30 72250.40 ISK Million Dec/21

News Stream
Iceland Trade Deficit Widens in November
Iceland recorded a trade deficit of ISK 28.6 billion in November of 2021, widening from the ISK 15.8 billion gap in the corresponding month of the previous year. Imported goods jumped 51.6 percent to ISK 100.8 billion, mostly driven by capital goods (44.2 percent to ISK 7.2 billion), fuels (128.9 percent to ISK 4.7 billion), and transport equipment (156.2 percent to 9.5 billion). At the same time, exports rose by 42.4 percent to ISK 72.2 billion, driven by a jump in manufacturing products (59.4 percent to ISK 14 billion) and marine products (24.7 percent to ISK 28 billion).
2021-12-07
Iceland Trade Deficit Widens in October
Iceland recorded a trade deficit of ISK 12.5 billion in October of 2021, up from ISK 9.5 billion in the same month of the previous year. Imports jumped almost 21 percent to ISK 85.5 billion, mostly driven by purchases of capital goods (33 percent YoY), fuels and lubricants (128.3 percent), transport equipment (19 percent), consumer goods (5.6 percent) and industrial supplies (3.7 percent). Meantime, exports rose at a softer 18.8 percent to ISK 73 billion, mainly boosted by sales of manufacturing products (37.8 percent) and agricultural products (32.5 percent). Whereas sales of marine products (-1.2 percent) and other products (-23 percent) declined.
2021-11-04
Iceland’s Trade Gap Widens in September
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.
2021-10-07

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.