Iceland recorded a trade deficit of ISK 15.5 billion in May of 2021, up from ISK 4.2 billion in the same month last year. Imports climbed 33.7 percent to ISK 76.8 billion, driven mostly by purchases of food & beverages (50.82 percent), consumer goods (41.1 percent) and industrial suppliers (20 percent). Meantime, exports surged at a slower 15.0 percent to ISK 61.2 billion, particularly lifted by marine products (18.0 percent), agricultural goods (65.2 percent) and manufactured products (8.3 percent) source: Statistics Iceland
Balance of Trade in Iceland averaged -2233.84 ISK Million from 1960 until 2021, reaching an all time high of 21093 ISK Million in December of 2008 and a record low of -33367.10 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 June 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. Looking forward, we estimate Balance of Trade in Iceland to stand at -13900.00 in 12 months time. 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.