Thursday - 31 May 2012
Balance of trade in goods was favourable of almost 28 million ISK in January-April 2012
Balance of trade
The value of exported goods from Iceland amounted to ISK 206,200 million fob and the value of imported goods amounted to ISK 178,300 million fob (ISK 192,000 million cif) January-April 2012. Thus there was a trade surplus, calculated on fob value, of almost 28,000 million as compared with a trade surplus of ISK 33,800 million in January-April 2011, at fixed rates of exhange¹ .
The total value of exports of goods January-April 2012 was ISK 13,500 million or 7.0% higher at constant rates of exchange than in the same period the year before. Exported manufacturing products were 53.7% of total exported goods and their value was 3.2% more than in the same period the year before. Marine products were 42.0% of the total exports and their value 22.4% higher than the same period the year before. Most increase occurred in the value of export of marine products, mainly fresh fish and fish meal.
The total value of imports of goods January-April 2012 was ISK 19,300 million or 12.2% higher at constant rates of exchange than in the same period the year before. The largest increase was in transport equipments and fuels.
|Balance of trade in January-April 2012|
|Change on previous year at constant exchange rates, % January-April|
|Million ISK at fixed exchange rate|
|Exports fob, total||42,495||50,158||192,718||206,246||7.0|
|Imports fob, total||39,078||40,673||158,958||178,273||12.2|
|Balance of trade||3,416||9,485||33,760||27,972||.|
|The value of exports and imports January-April 2012|
|Change on previous year at constant exchange rates 1) % January-April|
|Million ISK at current exchange rate|
|Exports fob, total||184,278.5||206,245.7||7.0|
|Imports fob, total||151,996.7||178,273.4||12.2|
|Food and beverages||13,204.7||15,727.3||13.9|
|Industrial supplies n.e.s.||55,858.4||56,355.8||-3.5|
|Fuels and lubricants||16,449.1||23,581.5||37.1|
|Capital goods (except for transport)||33,670.2||38,300.4||8.8|
|Consumer goods n.e.s.||20,034.5||21,595.1||3.1|
|Balance of trade||32,281.8||27,972.3||·|
¹Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year 4.6%. In April 2012, foreign currency prices were 5.6% higher than in April 2011.
Monthly figures of external trade for current year are revised together with the release of figures for new months. Annual figures are published in the first half of the year after the end of the reference year. The figures are considered as final at that point of time.