Trade Surplus Reported in Iceland in 2010 Skip to content

Trade Surplus Reported in Iceland in 2010

By Iceland Review

Goods exported from Iceland in 2010 amounted to ISK 561 billion (USD 4.9 billion, EUR 3.4 billion) and goods imported to Iceland to ISK 441 billion FOB*, ISK 477 billion CIF*, as stated in the Statistical Series on External Trade in Goods for 2010, published by Statistics Iceland.

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Copyright: Icelandic Photo Agency.

Thus there was a trade surplus of goods, calculated on FOB value, of ISK 120 billion (USD 1.1 billion, EUR 730 million) whereas the trade surplus in 2009 was ISK 90 billion. Exports of goods increased by 12.0 percent at current prices while imports of goods increased by 7.0 percent.

Marine products constituted 39.3 percent of all exports of goods and manufacturing products 55.4 percent, but the largest import categories were industrial supplies, capital goods (except for transport) and consumer goods other than food and beverages.

The largest trading countries were the Netherlands in exports of goods and Norway in imports of goods and the EEA was the most important market area for both exports of goods and imports of goods.

Click here to read the entire report.

* CIF (Cost Insurance and Freight): the shipper/trader has to pay the cost of shipment including the insurance cost of the cargo and freight cost to the destination port.

* FOB (Free On Board) means the shipper/trader pays only the costs of shipment including the insurance, but the freight charges are paid by the buyer/consignee.

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