The total value of exports of services in October 2023 is estimated at 82.1 billion ISK, increasing by 18% compared with October 2022, at current rates of exchange. The total exported value of travel in October is estimated at 37.1 billion ISK, having increased by 29% compared with the same month last year. The exported value of transport services is estimated at 25.1 billion ISK in October, having increased by 29% compared with October 2022. The value of exports of other services was estimated at 19.8 billion ISK in October, decreasing by 7% compared with the same month the year before.
The total value of imports of services in October is estimated to have been at 53.9 billion ISK and decreased by 3% from October 2022, at current rates of exchange. The total imported value of travel in October is estimated at 18.9 billion ISK and to have decreased by 5% compared with the same month the year before. Imported value of transport services in October is estimated at 10.0 billion ISK, having decreased by 8% compared with October 2022, while the value of imports of other services is estimated to have been at 24.9 billion ISK in October, remaining the same compared with October the year before. In total, a surplus of 28.2 billion ISK was recorded in October.
For the period November 2022 to October 2023, the total value of exports of services is estimated at 923.3 billion ISK, an increase of 27% compared with the 12 months prior, at current rates of exchange. The value for imports of services for the same period is estimated at 618.7 billion ISK, having increased by 13% compared with the same period the year before.
The value of exported goods in BOP* is estimated at 71.8 billion ISK in October 2023 and the value of imported goods is estimated at 118.4 billion ISK. Therefore, a deficit in balance of trade in goods in BOP is estimated at 46.6 billion ISK. Total export of trade in goods and services is estimated at 153.9 billion ISK in October 2023, increasing by 3% compared with the same month the previous year. Moreover, total imports of trade in goods and services are estimated at 172.3 billion ISK in the same period, having decreased by 6% compared with the same month the previous year. Therefore, the deficit in balance of trade in goods and services is estimated at 18.4 billion ISK in October compared with a deficit of 34.5 billion ISK for the same month in 2022.
The value of exports of trade in goods and services is estimated at 1,866.6 billion ISK in the 12-month period November 2022 to October 2023 and to have increased by 10% compared with the previous 12 months. For the same period, estimated import of trade in goods and services was 1,896.7 billion ISK and increased by 8%. Therefore, the deficit in balance of trade in goods and services is estimated at 3.1 billion ISK in that 12-month period compared with a deficit of 26 billion ISK for the previous 12 months.
*According to Balance of Payments (BOP) and National Accounts (NA) standards.
Statistics
Trade in goods and services
Trade in services