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Iceland external trade October 2010


Statistics Iceland

Balance of trade

The value of exported goods from Iceland amounted to ISK 462,700 million fob and the value of imported goods amounted to ISK 364,200 million fob (ISK 394,600 million cif) January-October 2010. Thus there was a trade surplus, calculated on fob value, of 98,500 million as compared with a trade surplus of ISK 74,000 million in January-October 2009, at fixed rates of exhange.”

Exports

The total value of exports of goods January-October 2010 was ISK 57,200 million or 14.1% higher at constant rates of exchange than in the same period the year before. Marine products were 39.7% of the total exports and their value 7.7% higher than the same period the year before. Exported manufacturing products were 55.4% of total exported goods and their value was 34.2% more than in the same period the year before. Most increase occurred in the export of manufacturing products, mainly aluminium, and there was also an increase in the export of marine products. On the other hand there was a decrease in exports of ships and aircrafts.”

Imports

The total value of imports of goods January-October 2010 was ISK 32.7 million or 9.9% higher at constant rates of exchange than in the same period the year before. There was an increase in the import of industrial supplies, capital goods and fuels but there was a decrease in the imports of transport equipments.” Source data

Charts

The charts show 12-month average exports and imports at fob value between October 2007 – October 2010.

Chart 1: Balance of trade is positive for the 21st month in a row with an export margin (Balance of trade/Exports) of 21.5%. The drop in imports is slight compared to the rapid rise in exports following the economic collapse.

Chart 2: Main marine export categories with the weight of marine exports to total exports.

Chart 3: Manufacturing export categories with the weight of manufacturing exports to total exports.

Chart 4: Overview of main import categories.

Chart 5: Overview of consumer goods categories with the weight of consumer imports to total imports.

Chart 6: Breakdown of consumer goods categories as of latest position.

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