1945

Iceland

In 2014, the value of merchandise exports of Iceland increased slightly by 0.5 percent to reach 5.0 bln US$, while its merchandise imports increased moderately by 6.7 percent to reach 5.4 bln US$ (see graph 1, table 2 and table 3). The merchandise trade balance recorded a relatively small deficit of 334.8 mln US$(see graph 1). The largest merchandise trade balance was with MDG Developed Europe at 521.1 mln US$ (see graph 4). Merchandise exports in Iceland were diversified amongst partners; imports were also diversified. The top 12 partners accounted for 80 percent or more of exports and 15 partners accounted for 80 percent or more of imports (see graph 5). In 2012, the value of exports of services of Iceland increased slightly by 1.3 percent, reaching 3.0 bln US$, while its imports of services increased moderately by 7.1 percent and reached 2.8 bln US$ (see graph 2). There was a relatively small trade in services surplus of 210.4 mln US\$.

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