Friday - 27 February 2009
External trade January 2009
The value of exported goods from Iceland in January 2009 amounted to ISK 33,600 million fob and the value of imported goods amounted to ISK 33,200 million fob (ISK 36,800 million cif). Thus there was a trade surplus, calculated on fob value, of 300 million as compared with a trade deficit of 16,100 million in January 2008, at fixed rates of exchange╣.
|Balance of trade in January 2009|
|Change on previous year at constant exchange rates, % January-January|
|Million ISK at fixed exchange rate|
|Exports fob, total||41,404||33,568||.||.||-18.9|
|Imports fob, total||57,495||33,221||.||.||-42,2|
|Balance of trade||-16,092||347||.||.||.|
|The value of exports and imports January 2008 and 2009|
|Change on previous year at constant exchange rates 1) % January-January|
|Million ISK at current exchange rate|
|Exports fob, total||24,214.1||33,568.1||-18.9|
|Imports fob, total||33,624.8||33,220.9||-42.2|
|Food and beverages||2,143.7||2,565.0||-30.0|
|Industrial supplies n.e.s.||8,610.9||13,003.9||-11.7|
|Fuels and lubricants||3,263.1||5,147.2||-7.7|
|Capital goods (except for transport)||7,293.0||6,558.0||-47.4|
|Consumer goods n.e.s.||5,096.8||3,904.1||-55.2|
|Balance of trade||-9,410.8||347.2||Ě|
╣ Based on trade-weighted index of average foreign currency prices in terms of ISK, in January 2009 the change was 71,0% higher than in January 2008.
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.
From 1 February 2008 and onwards, midrate is used to convert the foreign currency value of the commodity to Icelandic krˇnur (ISK). Before that date, selling rates were used for the conversion of import figures and buying rates for the conversion of export figures. Also from 1 February and onwards, the official exchange rate is used that is registered by the Central Bank of Iceland the day before the customs clearance instead of previous procedure of using the official exchange rate that is registered by the Central Bank on the 28th of each month. Due to that the figures of the trade balance in January 2009 are not completely comparable to the trade balance figures in January 2008.