Trade Resources Economy Brief Report of Iceland's Trade in July 2016

Brief Report of Iceland's Trade in July 2016

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.

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