Iceland recorded a trade deficit of ISK 36.2 billion in August of 2021, up from ISK 17.4 billion in the same month of last year. Imports surged 49.7 percent to ISK 92.1 billion, driven mostly by purchases of transport equipment (114.7 percent), fuel & lubricants (89.7 percent), industrial suppliers (59.5 percent), consumer goods (14.9 percent) and food & beverages (17.4 percent), Meanwhile, exports advanced at a slower 26.8 percent to ISK 55.9 billion, particularly pushed by agricultural products ( 73.9 percent) and manufacturing products (45 percent). source: Statistics Iceland
Balance of Trade in Iceland averaged -2360.48 ISK Million from 1960 until 2021, reaching an all time high of 21093 ISK Million in December of 2008 and a record low of -47658.60 ISK Million in June of 2021. 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 September of 2021.
Balance of Trade in Iceland is expected to be -14700.00 ISK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Balance of Trade is projected to trend around -13900.00 ISK Million in 2022, according to our econometric models.