Experimental statistics


Foreign trade in goods

Summary

Data on Iceland‘s trade in goods is primarily acquired from Customs data. Statistics Iceland has requested increased frequency of data delivery from Iceland Revenue and Customs, allowing for more timely publication of trade in goods statistics.

Description

Normally, Statistics Iceland publishes data on trade in goods twice per month. In the beginning of the month, preliminary data for the previous month, after a brief review and correction of obvious errors, is published and again at the end of the month when data validation has been completed. Data on trade in goods is mostly based on Customs data, received monthly by Statistics Iceland. Experimental data will not impact the regular release calendar.

In order to accompany increased demand for economic statistics with the Covid-19 outbreak, Statistics Iceland has increased publication of trade in goods statistics from monthly to weekly periodicity. As a consequence, Statistics Iceland can publish more timely data. It’s important to underline that these results are published as experimental statistics and are subject to considerable uncertainty and revision as data is processed further.

Objectives

With more timely data, a better indication of change in trade in goods can be provided.

Figures for the first 21 weeks of 2020 have been updated

Updated: 28 May 2020

According to updated figures for the first 21 weeks of this year, the trade in goods deficit was 27.6 billion ISK compared with 22.41 billion ISK deficit last year.


Statistics

External trade, preliminary figures of weeks 2019-2020 (xlsx)


Metadata

Weekly data for the current and the previous month are preliminary. Extreme values have been eliminated and data can be revised due to revisions. In order to allow users to calculate fixed exchange rate values, the CB official exchange rate index is included.

More information:
www.statice.is/methods-and-classification/esa2010/
www.statice.is/methods-and-classification/external-trade/
www.statice.is/media/42453/..... (pdf)


1Data for 2019 has been revised.