Huge increase in export earnings

13.05.2022 - 10:05
Mynd: Eggert Þór Jónsson / RÚV
The value of Icelandic exports of industrial, marine, and agricultural products has increased dramatically in the past three years, according to Fréttablaðið. The newspaper reports that during the first four months of this year, the value of such exports was nearly 319 billion krónur. This compares to 197 billion krónur in the first four months of 2020.

The value of exported marine products, including wild-caught fish, in January to April was close to 118 billion krónur, compared to 81 billion in the same part of 2020. 

The value of exported agricultural products, including farmed fish, in January to April was around 20 billion krónur, compared to 11 billion in the same part of 2020. 

The value of exported industrial products, including aluminium, was up by 75 percent, standing at 175 billion krónur in January to April this year, and just 99 billion in the same part of 2020. The world aluminium price has roughly doubled in that time. 

Indeed, the value of exports is dictated by various factor that include how much is physically exported, but also world market prices (often in dollars or euros), and the exchange rate of the Icelandic króna. 

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