Weekly bul­letin 26 Feb­ru­ary 2024

There was a continuous surplus on foreign trade in the years 2010 to 2019. This turned to a deficit in 2020 and 2021 during the pandemic. Foreign trade has been more or less balanced since.
Vöruhótel
26 February 2024

The week ahead

  • On Tuesday, Nova klúbburinn and Sýn publish results.
  • On Wednesday, Statistics Iceland is set to publish the February CPI. We expect the Index to increase by 0.89% between months and annualised inflation to decrease from 6.7% to 6.1%. Iceland Seafood and VÍS publish their results.
  • On Thursday, Statistics Iceland publishes national accounts.
  • On Wednesday, inflation figures will be published for the UK.

Image of the week

There was a continuous surplus on foreign trade in the years 2010 to 2019, driven by high growth in the travel sector. Iceland utilised this surplus prudently, with domestic parties making payments on foreign loans, pension funds purchasing overseas assets and the CBI building FX reserves. The surplus turned to a deficit in 2020 and 2021 during the pandemic when one of the country’s largest export sectors more or less shut down.Foreign trade has been more or less balanced since.

Highlights of the previous week

Statistics and market data

Weekly bulletin 26 February 2024 (PDF in Icelandic)

Disclaimer
This review and/or summary is marketing material intended for information purposes and does not constitute financial advice or an independent financial analysis. The legal provisions that apply to financial advice and financial analysis do not apply to this content, including the ban on transactions prior to publication. The review is based on publicly available information from parties that Landsbankinn deems reliable yet the Bank cannot independently guarantee the accuracy of the information. Landsbankinn is not liable for any loss that may result from use of the information contained herein.

Information about the past performance of financial instruments or indices show nominal returns, unless otherwise mentioned. If results are based on foreign currencies, returns may increase or decrease as a result of currency fluctuations. Past returns are not necessarily an indication of future returns. Detailed information about the historic performance of financial instruments and indices is available on Landsbankinn’s website, including on returns for the past 5 years.

Securities transactions involve risk and readers are encouraged to familiarise themselves with the Risk Description for Trading in Financial Instruments and Landsbankinn’s Conflict of Interest Policy on Landsbankinn’s website.

Landsbankinn is licensed to operate as a commercial bank in accordance with Act No. 161/2002, on Financial Undertakings, and is subject to supervision by the Financial Supervisory Authority of the Central Bank of Iceland (www.fme.is).
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