Landshagir - 01.11.2010, Page 269

External trade
LANDSHAGIR 2010 STATISTICAL YEARBOOK OF ICELAND 2010
14
269
Statistics Iceland collects data on external
trade, i.e. Icelandic exports and imports
of goods and services. Data of exports
and imports of goods are derived chiefly
from customs declarations but the source
of data for exports and imports of serv­
ices are information from companies and
information of the use of credit cards.
Surplus of balance of trade in goods
for the first time since 2002
Goods exported from Iceland amounted to
500,900 million ISK and goods imported
into Iceland amounted to 410,600 million
ISK fob. Thus there was a trade surplus for
the first time since 2002 of 90,300 million
ISK.
Share of manufacturing products in the
export higher than marine products
Exports increased by 7.3% at current prices
in 2009 while imports decreased by 13.3%.
Marine products constituted 41.7% of
all exports and manufacturing products
48.6%, but the largest import categories
were industrial supplies, capital goods
and consumer goods other than food and
beverages. The largest export product was
aluminium, 34.1% of total exports.
Most imported of goods from Norway
The European Economic Area was the
largest market area for Icelandic products
in 2009. The share of exports to the EEA
was 83.5% in 2009, increased from 77.3%
in 2005. The share of the EEA countries
in total imports was 64.8% in 2007–2009
compared with 69.3% in 2005. In the same
period, trade in goods with the United
States and Japan has decreased. The
largest trading countries were the Nether­
lands in exports and Norway in imports.
Service trade surplus in 2009
In 2009, export of services was 287,288
million ISK and import of services totalled
239,884 million ISK, resulting in a 47,404
million ISK service trade surplus for the
year 2009. Transportation was the largest
category of both exports and imports of
services, accounting for 44.5% of total
exports of services and 35.5% of total
imports of services, and contributed most
to the surplus (42,8 million ISK). The
largest category within transportation
was air transport, 40.4% of total exports
of services and 21.6% of total imports of
services. Travel was the second largest
category of both exports and imports of
services. The exports of travel accounted
for 24.2% and import of travel 27.6%. EU
was the largest trading partner of trade in
services in 2009, 60.4% of total exports of
services was sold to EU and 57.9% of total
imports of services was bought from EU.
There was a trade surplus with EU, 34,677
million ISK. The largest trading country in
exports of services was United Kingdom,
buying 12.0% of exported services while
Iceland bought most services from USA,
21.1% of imported services.