Balance of payments in the second quarter of 2005
The deficit on Iceland’s current account in the second quarter of 2005 amounted to 34.1 billion kr. according to preliminary figures from the Central Bank. In the first half of the year the current account deficit was 65 b.kr., widening sharply from the 33.9 b.kr. deficit recorded in the first half of 2004. Measured at fixed exchange rates, first-half exports of goods and services increased by 11.5% year-on-year, and imports by 30.2%. The deficit on the income account was 9.7 b.kr. in the first half of 2005, an increase of 1.2 b.kr. from the corresponding period the preceding year.
September 2, 2005