Balance of trade
The value of exported goods from Iceland amounted to ISK 313,000 million fob and the value of imported goods amounted to ISK 281,700 million fob (ISK 303,100 million cif) January-June 2012. Thus there was a trade surplus, calculated on fob value, of 31,200 million as compared with a trade surplus of ISK 48,400 million in January-June 2011, at fixed rates of exhange1.
Exports
The total value of exports of goods January-June 2012 was ISK 11,000 million or 3.7% higher at constant rates of exchange than in the same period the year before. Exported manufacturing products were 53.4% of total exported goods and their value was 4.4% less than in the same period the year before. Marine products were 42.3% of the total exports and their value 21.1% higher than the same period the year before. Most increase occurred in the value of export of marine products, mainly fresh fish, fish meal and whole frozen fish.
Imports
The total value of imports of goods January-June 2012 was ISK 28,200 million or 11.1% 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-June 2012 | |||||
| Change on previous year at constant exchange rates, % January-June | |||||
| Million ISK at fixed exchange rate | |||||
| June | January-June | ||||
| 2011 | 2012 | 2011 | 2012 | ||
| Exports fob, total | 52,060 | 51,336 | 301,967 | 312,991 | 3.7 |
| Imports fob, total | 43,295 | 46,949 | 253,575 | 281,745 | 11.1 |
| Balance of trade | 8,765 | 4,387 | 48,392 | 31,246 | . |
| The value of exports and imports January-June 2012 | |||
| Change on previous year at constant exchange rates 1) % January-June | |||
| Million ISK at current exchange rate | |||
| January-June | January-June | ||
| 2011 | 2012 | ||
| Exports fob, total | 291,558.8 | 312,990.5 | 3.7 |
| Marine products | 105,500.2 | 132,295.0 | 21.1 |
| Agricultural products | 3,757.2 | 5,231.1 | 34.4 |
| Manufacturing products | 168,893.5 | 167,176.2 | -4.4 |
| Other products | 13,408.0 | 8,288.2 | -40.3 |
| Imports fob, total | 244,834.7 | 281,744.5 | 11.1 |
| Food and beverages | 22,623.6 | 25,470.9 | 8.7 |
| Industrial supplies n.e.s. | 85,640.1 | 84,948.9 | -4.2 |
| Fuels and lubricants | 30,795.9 | 40,990.1 | 28.5 |
| Capital goods (except for transport) | 53,389.0 | 57,759.1 | 4.5 |
| Transport equipment | 20,753.7 | 38,779.2 | 80.4 |
| Consumer goods n.e.s. | 31,292.6 | 33,387.9 | 3.0 |
| Goods n.e.s. | 339.8 | 408.3 | 16.0 |
| Balance of trade | 46,724.1 | 31,246.0 | · |
Based on trade-weighted index of average foreign currency prices in terms of ISK, change on previous year 3.6%. In June 2012, foreign currency prices were 0.6% higher than in June 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.
Statistics