Iceland recorded a trade deficit of 17100 ISK Million in September of 2019. Balance of Trade in Iceland averaged -877.46 ISK Million from 1960 until 2019, reaching an all time high of 24129.80 ISK Million in January of 2019 and a record low of -28523.60 ISK Million in June of 2019.

Balance of Trade in Iceland is expected to be -13300.00 ISK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Iceland to stand at -10400.00 in 12 months time. In the long-term, the Iceland Balance of Trade is projected to trend around -13900.00 ISK Million in 2020, according to our econometric models.

Iceland Balance of Trade
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Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-07-04 09:00 AM Balance of Trade Jun ISK-22.8B ISK-2.6B ISK-19.4B
2019-08-07 09:00 AM Balance of Trade Jul ISK-18.6B ISK-28.6B ISK-21.5B
2019-09-05 09:00 AM Balance of Trade Aug ISK-12.2B ISK-18.6B ISK-19.2B
2019-10-04 09:00 AM Balance of Trade Sep ISK-17.1B ISK-12.0B ISK-14.8B
2019-11-06 09:00 AM Balance of Trade Oct ISK-17.1B
2019-12-06 09:00 AM Balance of Trade Nov


Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -17100.00 -12029.60 24129.80 -28523.60 ISK Million [+]
Current Account 11.15 40.33 99.98 -137.24 ISK Billion [+]
Current Account to GDP 2.80 3.30 7.50 -23.00 percent [+]
Imports 68000.00 57454.70 74529.60 1.21 ISK Million [+]
Exports 50900.00 45425.10 76557.90 0.78 ISK Million [+]
External Debt 2408.15 2331.41 15748.53 280.59 ISK Billion [+]
Capital Flows 8.57 84.27 414.27 -418.16 ISK Billion [+]
Gold Reserves 1.98 2.00 2.00 1.84 Tonnes [+]
Remittances 1747.00 1526.00 2448.00 18.00 ISK Million [+]
Terrorism Index 0.06 0.13 1.22 0.00 [+]
Tourist Arrivals 231281.00 194912.00 291344.00 10592.00 [+]
Foreign Direct Investment 8.49 -43.12 199.98 -553.03 ISK Billion [+]


Iceland Balance of Trade

In 2017, Iceland's trade deficit widened sharply by 65 percent from the previous year to ISK 178 billion. Imports jumped 8 percent mainly boosted by higher purchases of industrial supplies, ships and transport equipment, while exports fell 4 percent due to a steep decline in marine products sales. The largest trade deficits were recorded with China, Norway, Germany, Denmark and Sweden; while the biggest trade surpluses were recorded with the Netherlands, Spain and France. This page provides the latest reported value for - Iceland Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Iceland Balance of Trade - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-17100.00 -12029.60 24129.80 -28523.60 1960 - 2019 ISK Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 1744.00 Sep/19
Australia 5926.00 Aug/19
Brazil 2250.00 Sep/19
Canada -955.30 Aug/19
China 396.50 Sep/19
Euro Area 14702.40 Aug/19
France -5019.00 Aug/19
Germany 16205.00 Aug/19
India -10860.00 Sep/19
Indonesia -160.50 Sep/19
Italy 2585.00 Aug/19
Japan -122.98 Sep/19
Mexico 775.00 Aug/19
Netherlands 3879.00 Aug/19
Russia 12006.00 Aug/19
Saudi Arabia 127500.00 Jun/19
Singapore 3833.90 Sep/19
South Africa 6842.94 Aug/19
South Korea 5973.00 Sep/19
Spain -3984900.00 Aug/19
Switzerland 2881.00 Sep/19
Turkey -2500.39 Aug/19
United Kingdom -1546.00 Aug/19
United States -54896.00 Aug/19


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