Balance of trade
According to preliminary figures for the year 2010, the value of exported goods from Iceland amounted to ISK 560,600 million fob and the value of imported goods amounted to ISK 442,100 million fob (ISK 478,600 million cif). Thus there was a trade surplus for the year 2010, calculated on fob value, of ISK 118,600 million as compared with trade surplus of ISK 87,300 million in 2009, at fixed rates of exchange¹.
The value of exported goods from Iceland in December 2010 amounted to ISK 49,600 million fob and the value of imported goods amounted to ISK 36,400 million fob (ISK 39,300 million cif). Thus there was a trade surplus, calculated on fob value, of ISK 13,100 million as compared with a trade surplus of ISK 11,600 million in December 2009, at fixed rates of exchange¹.
The preliminary figures for 2010 have been corrected for trade in ships and aircrafts.
Exports
The total value of exported goods in 2010 was 15.7% higher than in the previous year at fixed rate of exchange, according to the preliminary figures. Manufacturing products were 55.5% of the total export and for the third year in a row, since annual registration of external trade started in 1862, their share was larger than marine products. The value of exported manufacturing products was 31.9% higher in 2010 than in the previous year. The largest share of exported manufacturing products was aluminium. Marine products were 39.3% of total exported goods, and their value was 9.2% higher than in 2009. The largest item of exported marine products was whole frozen fish, showing a 41.7% increase in exports from 2009. Sales of ships and aircrafts decreased from 2009.
Imports
Preliminary figures for the total value of imports of goods in 2010 were 11.3% higher at constant rates of exchange than in 2009. Largest import items were industrial supplies which made up 32.8% of all imports and capital goods with 22.9% share. Of individual items the largest increase was in the imports of industrial supplies 20.2% (24,400 million), capital goods 18.2% (15,600 million) and fuels and lubricants 16.8% (8,300 million). Imports of transport equipments decreased by 21.9% (8,400 million).
| Balance of trade in December 2010 | |||||
| Change on previous year at constant exchange rates, % January-December | |||||
| Million ISK at fixed exchange rate | |||||
| December | January–December | ||||
| 2009 | 2010 | 2009 | 2010 | ||
| Exports fob, total | 40,168 | 49,594 | 484,527 | 560,647 | 15.7 |
| Imports fob, total | 28,615 | 36,448 | 397,190 | 442,087 | 11.3 |
| Balance of trade | 11,553 | 13,146 | 87,337 | 118,560 | . |
| The value of exports and imports January-December 2009 and 2010 | |||
| Change on previous year at constant exchange rates 1) % January-December | |||
| Million ISK at current exchange rate | |||
| January-December | January-December | ||
| 2009 | 2010 | ||
| Exports fob, total | 500,854.5 | 560,647.0 | 15.7 |
| Marine products | 208,619.7 | 220,369.3 | 9.2 |
| Agricultural products | 7,686.6 | 8,641.6 | 16.2 |
| Manufacturing products | 243,641.0 | 310,932.6 | 31.9 |
| Other products | 40,907.2 | 20,703.5 | -47,7 |
| Imports fob, total | 410,574.8 | 442,086.6 | 11.3 |
| Food and beverages | 41,774.1 | 42,838.3 | 6.0 |
| Industrial supplies n.e.s. | 124,929.5 | 145,220.6 | 20.2 |
| Fuels and lubricants | 51,105.3 | 57,723.7 | 16.8 |
| Capital goods (except for transport) | 88,365.2 | 101,055.0 | 18.2 |
| Transport equipment | 39,758.6 | 30,021.6 | -21,9 |
| Consumer goods n.e.s. | 64,111.2 | 64,732.0 | 4.4 |
| Goods n.e.s. | 530.9 | 495.5 | -3,5 |
| Balance of trade | 90,279.7 | 118,560.4 | · |
Statistics