According to the statistics from Statistics Iceland, Iceland’s volume of goods trade was USD5.64 billion from January to July in 2016, down 2.7% year-on-year (the same below). Exports fell by 11.9% to USD2.53 billion, and imports grew by 6.4% to USD3.11 billion. The trade deficit grew by 983.3% to USD0.58 billion.
In July, Iceland’s volume of goods trade grew by 0.4% to USD0.8 billion. Exports fell by 7.3% to USD0.36 billion and imports grew by 7.8% to USD0.44 billion. And the trade deficit grew by 295.9% to USD80.4 million.
Since January to July, bilateral trade volume between Iceland and China grew by 10.2% to USD0.27 billion. Iceland’s exports to China grew by 38.8% to USD52.03 million. It accounted for2.1% of Iceland’s overall export, up 0.8%. And Iceland’s imports from China grew by 4.9% to USD0.21 billion. It accounted for 6.9% of Iceland’s overall imports, down 0.1% over the previous year. Iceland’s trade deficit with China fell by 2.8% to USD0.16 billion.
China was the 12th export market of Iceland and its fifth largest source of imports up to July in 2016.