Thursday - 26 August 2010
External trade in services, 2009
Statistics Iceland publishes now for the first time data on external trade in services by EBOPS classification and countries.
In 2009, export of services was 287,288 million ISK and the import of services 239,884 million ISK. Therefore, the services trade surplus for the year 2009 was 47,404 million ISK.
Transportation was the largest category of both exports and imports of services, accounting for 44.5% of total exports of services and 35.5% of total imports of services and was also the category that contributed most to the surplus, 42,758 million ISK. Largest category within transportation was air transport, 40.4% of total exports of services and 21.6% of total imports of services. Travel was the second largest category of both exports and imports of services. The exports of travel accounted for 24.2% and import of travel 27.6%. Surplus of travel was 3,297 million ISK. The third largest category was other business services, largest item being miscellaneous business, professional, and technical services. The three largest categories of exports and imports of services accounted for 85% of total services.
EU was the largest trading partner in 2009, both with regards to exports and imports of services. 60.4% of total exports of services was sold to EU and 57.9% of total imports of services was bought from EU. There was a trade surplus with EU, 34,677 million ISK. The largest trading country in exports of services was United Kingdom, buying 12,0% of exported services while Iceland bought most of services from USA, 21.1% of imported services. Even though United Kingdom was the largest of all countries with regards to exported services, there was a trade deficit with the UK of 12,325 million ISK and there was also a trade deficit with USA of 22,843 million ISK in the year 2009.
|Trade in services 2009 by EBOPS classification|
|Value in million ISK|
|3. Communications services||4,533.4||1.6||5,918.6||2.5||-1,385.2|
|4. Construction services||2,330.0||0.8||353.5||0.1||1,976.5|
|5. Insurance services||1,189.0||0.4||6,657.7||2.8||-5,468.7|
|6. Financial services||340.3||0.1||3,356.3||1.4||-3,016.0|
|7. Computer and information services||7,443.8||2.6||5,242.2||2.2||2,201.6|
|8. Royalties and license fees||26,943.2||9.4||8,115.1||3.4||18,828.1|
|9. Other business services||45,272.7||15.8||52,488.3||21.9||-7,215.6|
|10. Personal, cultural, and recreational services||795.9||0.3||4,133.3||1.7||-3,337.5|
|11. Government services, n.i.e.||1,032.7||0.4||2,266.3||0.9||-1,233.5|
|Trade in services 2009 by market areas|
|Value in million ISK|
|Other European countries||12,279.3||4.3||4,817.0||2.0||7,462.3|
|Not specified by countries||6,263.1||2.2||5,785.2||2.4||477.9|
More information of trade in services by EBOPS classification and by countries is available on Statistics Iceland website.