ICELAND

International Trade & Economy

Submitted To:
Dr. Akanksha
Singhi
School of Economics
DAVV

Submitted By:
R Balasubramanian
Iyer
MBA Business Economics
(Marketing)
3rd Semester

INTRODUCTION
Iceland , also called the Republic of Iceland, is a
Nordic island country between the North Atlantic
and the Arctic Ocean. It has a population of
332,529 and an area of 103,000 sq.km. , making
it the most sparsely populated country in Europe.
The capital and largest city is Reykjavk.
Iceland has a mixed economy with high levels of
free trade and government intervention. However,
government consumption is less than other Nordic
countries. Geothermal power is the primary
source of home and industrial energy in Iceland.

Export Commodities
Aluminium
Animal products
Diatomite
Fish
Silicon

Export Data (in US $ Million)

Country

2015

Netherland
s

2014

2013

2012

2011

2010

1230. 1475.
75
09

1500.
91

1517

1732.
72

1564.
07

United
Kingdom

548.0 567.3
1
8

473.7
9

497.2
9

481.9
7

465.3
1

Spain

545.2 380.5
9
2

Germany

351.7 304.6
5
6

France

269.3 251.2
9
1

218.1
5
606.9
5

651.9
2

800.3
6
209.2

642.6

Export Summary
Market

Trade (US$ Mil)

Partner share(%)

1,231

26.06

United Kingdom

548

11.60

Spain

545

11.54

Germany

352

7.45

France

269

5.70

Netherlands

Import Commodities
Food
Machinery
Oil
Textiles

Import Data (in US $ Million)

Countr 2015
y

2014

2013

2012

2011

Norwa
y

536.15 786.34 755.96 793.5

Germa
ny

454.51 409.44 402.36 437.94 382.6

United
States

415.42 544.38 483.9

China

414.49 397.51 391.97 341.5

Denma 375.61 406.12 416.48

rk

2010

772.79 354.48
293.95

488.67 527.43 310.55

303.03

Import Summary
Exporter

Trade (US$ Mil)

Partner share(%)

Norway

536

10.14

Germany

455

8.60

United States

415

7.86

China

414

7.84

Denmark

376

7.11

Trade Summary
Exports

Product
Categories

Imports

Weighte
Product
Prod
d
Export( share(% Import( share(% Average
US$ Mil)
) US$ Mil)
)
(%)

Raw
materials

1,361

28.82

336

6.36

2.08

Intermediate
goods

2,561

54.22

1,114

21.08

0.64

Consumer
goods

530

11.23

2,265

42.86

1.15

Capital goods

235

4.98

1,529

28.92

0.08

Trade Statistics
Trade value = $16.66 billion per
year
Export value = $8.919 billion per
year
Import value = $7.743 billion per
year
(2015 estimate)

CONCLUSION
Iceland has great possibilities to
resolve
and
work
through
the
international trade with improved
economic
policies,
more
foreign
investment and increased export
values.
With innovation of the Icelandic people,
they have the right characteristics to
work through these kind of situations
and improve exports values to improve
the standards of living and quality of
life.

Information Sources
World Bank www.worldbank.org
Morningstar, Inc
www.morningstar.com
Iceland (Official website)
www.iceland.is

THANK
YOU!