Iceland’s trade gap narrowed to ISK 12.5 billion in June of 2020 from ISK 29 billion in the corresponding month of the previous year, according to preliminary estimates. Exports rose 2.4 percent from a year earlier to ISK 46.8 billion, boosted by higher sales of marine products. Imports slid 20.6 percent to ISK 59.3 billion, mainly due to a decrease in imports of transport equipment and fuels and lubricants.
Balance of Trade in Iceland averaged -935.84 ISK Million from 1960 until 2020, reaching an all time high of 24063.60 ISK Million in December of 2008 and a record low of -28988.51 ISK Million in June of 2019. 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 - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Balance of Trade in Iceland is expected to be -10400.00 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 -14700.00 in 12 months time. In the long-term, the Iceland Balance of Trade is projected to trend around -13900.00 ISK Million in 2021, according to our econometric models.