News
Tuesday - 30 April 2013
No. 86/2013
25,600 million ISK surplus of the balance of trade in goods, the first quarter of 2013
Balance of trade
The value of exported goods from Iceland amounted to ISK 156,300 million fob and the value of imported goods amounted to ISK 130,600 million fob (ISK 141,300 million cif) January-March 2013. Thus there was a trade surplus, calculated on fob value, of ISK 25,600 million as compared with a trade surplus of ISK 18,200 million in January-March 2012, at current rates of exchange¹.
Exports
The total value of exports of goods the first quarter of 2013 was ISK 600 million or 0.4% lower at current rates of exchange than in the same period the year before. Exported manufacturing products were 51.9% of total exported goods and their value was 3.7% less than in the same period the year before. Marine products were 43.9% of the total exports and their value 3.4% higher than the same period the year before.
Imports
The total value of imports of goods the first three months of 2013 was ISK 8,000 million or 5.8% lower at current rates of exchange than in the same period the year before, mainly because of decreased imports of ships and aircrafts. Also there was a decrease in the imports of industrial supplies. However, the imports of capital goods and food and beverages increased.
| The value of exports and imports January-March 2013 | |||
| Million ISK at current exchange rate | Change on prev. | ||
| January- | January- | year at current | |
| March | March | exch. rates, % | |
| 2012 | 2013 | Jan.-febrúar | |
| Exports fob, total | 156,843.5 | 156,281.7 | -0.4 |
| Marine products | 66,262.7 | 68,542.4 | 3.4 |
| Agricultural products | 3,095.2 | 3,393.2 | 9.6 |
| Manufacturing products | 84,256.5 | 81,138.5 | -3.7 |
| Other products | 3,229.1 | 3,207.5 | -0.7 |
| Imports fob, total | 138,667.2 | 130,637.1 | -5.8 |
| Food and beverages | 11,149.5 | 12,327.3 | 10.6 |
| Industrial supplies n.e.s. | 43,015.4 | 39,310.0 | -8.6 |
| Fuels and lubricants | 18,090.1 | 18,863.8 | 4.3 |
| Capital goods (except for transport) | 29,513.2 | 32,385.4 | 9.7 |
| Transport equipment | 20,094.1 | 10,166.4 | -49.4 |
| Consumer goods n.e.s. | 16,637.2 | 17,191.5 | 3.3 |
| Goods n.e.s. | 167.8 | 392.6 | · |
| Balance of trade | 18,176.3 | 25,644.6 | · |
¹Statistics Iceland does no longer publish trade in goods at constant exchange rates. On Statistics Iceland website is available table of the breakdown of trade in goods by currencies.
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.