Iceland - Foreign trade

The fishing industry of Iceland supports most of its commodity export market (60%). It supplies the world export market with 10.5% of its salted, dried, or smoked fish, second only to Norway in volume. Other important exports include aluminum (19%), animal feed (6.3%), iron (2.6%), diatomite, and ferrosilicon.

In 2000 Iceland's imports were distributed among the following categories:

Consumer goods	19.9%
Food	8.1%
Fuels	9.2%
Industrial supplies	22.2%
Machinery	23.4%
Transportation	17.0%
Other	0.2%

Principal trading partners in 2000 (in millions of US dollars) were as follows:

COUNTRY	EXPORTS	IMPORTS	BALANCE
United Kingdom	367	214	153
Germany	312	283	29
United States	236	262	-26
Netherlands	147	181	-34
Japan	100	120	-20
Portugal	108	n.a.	n.a.
France	87	90	-3
Spain	87	40	47
Denmark	80	189	-109
Norway	76	191	-115