Balance of trade
The value of exported goods from Iceland amounted to ISK 89,300 million fob and the value of imported goods amounted to ISK 78,200 million fob (ISK 84,400 million cif) January-February 2014. Thus there was a trade surplus, calculated on fob value, of ISK 11,200 million as compared with a trade surplus of ISK 17,300 million in January-February 2013, at current rates of exchange.
The total value of exports of goods the first two months of 2014 was ISK 16,800 million or 15.8% lower at current rates of exchange than in the same period the year before. Exported manufacturing products were 54.4% of total exported goods and their value was 13.4% less than in the same period the year before, mainly due to aluminium. Marine products were 39.3% of the total exports and their value 21.7% lower than the same period the year before.
The total value of imports of goods the first two months of 2014 was ISK 10,600 million or 12% lower at current rates of exchange than in the same period the year before, mainly because of industrial supplies and capital goods.