Food & Drink sector in Iceland

An Expert's View about Sales in Iceland

Last updated: 14 Mar 2011

Today there are two main operators in the Icelandic grocery market. The smaller retailers describe this market as being akin to a hostile oligopoly dominated by just two companies.

Food & Drink in Iceland Sector Report Sector Report Food & Drink Iceland Produced by: Mjoll Waldorff, British Embassy, Reykjavik Last revised November 2009 Whereas every effort has been made to ensure that the information given in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation and Skills, and the Foreign & Commonwealth Office), accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. Published November 2009 by UK Trade & Investment. Crown Copyright © Page 1 of 17 Food & Drink in Iceland Sector Report Table of Contents BASIC INFORMATION 4 CHARACTERISTICS OF THE GROCERY MARKET 5 TRENDS AND PROSPECTS 6 SOURCES 6 ATTACHMENT I 7 ATTACHMENT II 8 ATTACHMENT III 11 ATTACHMENT IV 15 Page 2 of 17 Food & Drink in Iceland Sector Report OVERVIEW Iceland is an island in the North-Atlantic Ocean with around 310.000 inhabitants. Iceland is heavily dependent upon imports. In 2008 cif imports from other countries amounted to 514,739 million ISK (£3.23 billion) which is an increase of 19,9 % from the year 2007. Icelandic imports from the UK are 4.4% of total import or ISK 22,467.5 million (£181 million) in the year 2008. Imports of food and beverages amounted to ISK 29,317.4 million (£184 million) in 2008. UK exports of food and drink to Iceland amounted to 17,35 million £ in the year 2008. The Icelandic food and drink market has changed dramatically in the last 10 ? 15 years. It has gone from being a market with many small merchants and retailers to a market with less but larger supermarkets focused around the main capital area. Today there are two main operators in the Icelandic grocery market, Hagar (a retail company owned by Baugur Group) and Kaupas. The smaller manufacturers and retailers describe this market as being akin to a hostile oligopoly dominated by just two companies. The market for beverages in Iceland is competitive but limited because of government restrictions. Drinks with an alcoholic content greater than 2.25% are only sold in state owned off-licences, bars and licensed restaurants. No media advertising is permitted for products with alcohol content greater than 2.25%. Population of Iceland 1 January 2009 319,368 By age Under 19 years old 26.84% 20 ? 64 years old 61.52% 65+ 11.64% rd Unemployment rate (3 quarter 2009 ) 6% Page 3 of 17 Food & Drink in Iceland Sector Report BASIC INFORMATION Average Exchange rate £1= ISK Year 2007 ISK 128.07 Year 2008 ISK 159.35 Year 2009 (Jan-Oct) ISK 192.71 Actual rate 23/11/09 ISK 203,46 Other Information ? VAT Will change 1 January 2010 VAT rate on food 7% VAT rate on alcoholic drinks 24.5% Import duty from EU YES International status Member of EEA and EFTA Number of food outlets 2008 Supermarkets and Grocery stores 108 Speciality shops 61 News agents 193 Fishmongers 29 Restaurants and fast food 696 Total 1087 Page 4 of 17 Food & Drink in Iceland Sector Report CHARACTERISTICS OF THE GROCERY MARKET International status Iceland is an EEA (European Economic Area) member state. The EEA extends the EU Single Market to Iceland in some but not all sectors (agriculture and fisheries are the main sectors not fully covered by the agreement). Iceland is also a member of EFTA (European Free Trade Association) together with Norway, Switzerland and Liechtenstein. Labelling legislation The rules on foodstuffs labelling are in line with corresponding EU regulations. Products must be labelled in Icelandic, English or a Scandinavian language (Norwegian, Swedish or Danish). Enquiries can be addressed to the Reykjavik City Environment Health and Protection Office (further information on www.umhverfisstofa.is). Documents required for imports into Iceland Import documents must be submitted to the customs authorities (see www.tollur.is) before imported goods can be removed from storage at the shipping company, placed in a bonded warehouse or removed from a duty free zone for dispersal domestically. The following documents are required: 9 An invoice 9 A bill of lading 9 A bill covering freight charges 9 A certificate of origin (or a declaration origin entered on the invoice) 9 Other documents relevant to the goods customs treatment (e.g. import licence when required) 9 The above goods invoice must contain the following information: 9 Name and address of the seller (consignor) 9 Name and address of the buyer (consignee) 9 Place and date of issue 9 Date of sale 9 Number of pieces 9 Type of packing 9 Weight 9 Recommended retail price of individual articles 9 The currency in which the price is specified Terms of payment, payment conditions and the reason for the discounts or price reduction Iceland is party to the International Convention on the Harmonised Commodity Description and Coding System and the Icelandic customs tariff nomenclature is based on that agreement. Delivery terms British exporters should quote fob prices in Pound Sterling rather than c.i.f. prices because Icelandic companies are more likely to negotiate favourable freight rates. (Only Icelandic shipping lines carry cargo to Iceland). Page 5 of 17 Food & Drink in Iceland Sector Report Terms of payment The normal term of payment is 60 days from the date of invoice. VAT on food is generally 7% but certain products (for example sugar, chocolate confectionery, biscuits, fruit juice, and alcoholic drinks) attract the general rate of VAT (24.5%). Distribution It is common for Icelandic food and drink companies to undertake all of the following functions: purchasing and imports, and wholesale and distribution. Fermented beverages containing less than 2.25% alcohol (by volume) can be sold in grocery stores. But the retail sale of products with and alcohol content greater than 2.25% is restricted to government controlled off licences. TRENDS AND PROSPECTS The food market in Iceland is a mature market but a significant proportion of the Icelandic population is open to foreign food influences. Current growth areas are in Mexican, Italian, Asian (Indian and Thai) and oriental (Chinese) foodstuffs. Convenience products such as cook in sauces, bake-off, share the bulk of the popularity. The financial crisis has lead to a change in consumption patterns and importers are open to ideas, trying to anticipate consumers changing needs and be proactive in finding new products and solutions for their customers. The Government is planning to change the VAT system in Iceland and implement 3 rates of VAT: 7%, 14% and 25%. The lowest rate will include food, house heating, music etc. The second rate will apply to restaurants, sweets, biscuits, cakes and drinking products other than alcoholic drinks. These changes are st st planned to take place in two phases between 1 January and 1 March 2010. Another change will be a 10% increase in excise tax on alcohol, tobacco, petrol, diesel and motor tax. Iceland has now applied for EU membership and if the country does become a full EU member state this will most likely affect trade in the food and drink sector, since Iceland would become a full member of EU?s customs union and agricultural policy. This could be an opportunity for UK companies, in the food & drink sector since that sector has the most restrictions like tariffs, import quotas and other kind of import restrictions. SOURCES Statistics Iceland Central Bank of Iceland The Consumers' Association of Iceland Ministry of Finance Page 6 of 17 Food & Drink in Iceland Sector Report ATTACHMENT I Key Facts Local Time GMT Language Icelandic (official), English Local currency Icelandic Krona (ISK) Dialling code from UK +354 GDP 2008: US $ 19.023 bn; US $ 60,121 per capita Introduction Britain is Iceland?s ninth largest supplier with a 4.4 % share of the country?s imports. In 2008 British exports to Iceland amounted to £ 181 million. Economic growth during 2008 was 0.3 %, the main factors contributing to this slow growth are the economic and financial crisis that hit Iceland in October 2008. Page 7 of 17 Food & Drink in Iceland Sector Report ATTACHMENT II SITC Standar Nes d Not Internat elsewh ional ere UK Exports of Goods to 11/03/ Classific specifi Europe 2008 2009 ation ed Countries are in alphabetical order Source: BERR SPA Statistics Analysis Directorate based on HMRC data 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 Period 2008 2007 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2008 Dec Pound Pound Poun s s % Pounds ds Pounds Pounds Pounds Pounds Pounds Pounds Pounds Pounds Sterli Sterli chang Sterlin Pounds Sterli Sterlin Sterlin Sterlin Sterlin Sterlin Sterlin Sterlin Sterlin Pounds Units ng ng e g Sterling ng g g g g g g g g Sterling Total Total Total Total Total Total Total Total Total Total Total Total Total Expor Expor Expor Export Total Expo Export Export Export Export Export Export Export Export Total Flow ts ts ts s Exports rts s s s s s s s s Imports Country SITC 16,9 181,09 201,53 19,025 15,230, 16,7 16,123 18,104 15,601 24,370 8,530, 17,999 11,776 6,742, 10,673,5 ICELAND Total 4,293 1,965 -10% ,218 820 11 ,367 ,048 ,333 ,502 710 ,340 ,574 147 23 00 :LIVE ANIMALS OTHER THAN ANIMALS OF DIVISION 03 4,015 621 547% - - 0 1,015 0 3,000 - - - - - - 01 :MEAT & MEAT 141,77 146,89 16,1 PREPARATIONS 9 2 -3% 12,076 - 40 8,539 - - 98,974 - - - 6,050 - 02 :DAIRY PRODUCTS & BIRDS' 206,42 159,90 22,8 EGGS 9 2 29% 10,670 4,469 96 55,633 8,883 13,461 13,508 12,595 5,283 53,611 2,967 2,453 03 :FISH,CRUSTACEANS,MOLLUSCS 189,43 401,13 18,2 & AQ.INVERTS & PREPS THE 6 5 -53% 2,314 - 19 1,056 12,622 - 82,616 23,033 5,760 12,780 31,036 - 1,07 04 :CEREALS & CEREAL 8,921, 5,170, 462,98 7,80 836,17 1,253, 936,02 558,36 594,94 516,63 733,57 770,75 PREPARATIONS 968 462 73% 2 487,449 1 5 733 7 5 1 0 3 5 693,537 1,259, 1,632, 177, 133,20 104,37 122,15 103,43 161,36 05 :VEGETABLES & FRUIT 101 819 -23% 53,826 116,892 917 4 7 7 2 63,189 59,041 5 76,177 87,524 06 :SUGAR, SUGAR 353,64 470,78 16,3 PREPARATIONS & HONEY 8 0 -25% 25,302 53,433 45 55,819 36,429 45,544 54,482 5,996 12,452 - 26,011 21,835 07 :COFFEE, TEA, COCOA, SPICES & MANUFACTURES 1,328, 1,311, 53,1 593,72 THEREOF 004 989 1% 37,492 111,136 46 89,462 46,749 29,989 79,104 87,238 3 69,095 40,647 90,223 08 :FEEDING STUFF FOR ANIMALS (NOT INC.UNMILLED 511,29 684,90 29,0 CEREAL 8 4 -25% 15,656 43,607 87 15,013 13,001 46,791 57,096 32,467 53,690 1,550 43,335 160,005 09 :MISCELLANEOUS EDIBLE 2,492, 1,816, 37% 202,26 170,060 155, 290,85 316,72 256,19 184,73 126,24 230,12 259,19 69,642 230,927 Page 8 of 17 Food & Drink in Iceland Sector Report PRODUCTS & PREPARATIONS 215 751 5 250 8 0 8 2 2 9 2 2,452, 2,704, 118,27 350, 250,29 231,51 225,90 175,69 281,87 173,55 142,33 117,79 11 :BEVERAGES 190 886 -9% 0 101,906 046 8 6 2 5 9 1 4 9 282,994 12 :TOBACCO & TOBACCO MANUFACTURES 0 12,499 -100% - - - - - - - - - - - - 21 :HIDES, SKINS & FURSKINS, RAW 0 3,258 -100% - - - - - - - - - - - - 22 :OIL SEEDS & OLEAGINOUS FRUITS 2,905 4,291 -32% - 2,101 - 804 - - - - - - - - 23 :CRUDE RUBBER (INCLUDING SYNTHETIC & RECLAIMED) 84,503 16,943 399% - 3,673 - 11,077 26,668 6,486 - - - 36,599 - - 24 :CORK & WOOD 3,213 73,787 -96% 2,428 - - - - - - 785 - - - - 4,89 25 :PULP & WASTE PAPER 23,655 1,315 1699% - 1,881 9 - - - - - 13,500 3,375 - - 26 :TEXTILE FIBRES NOT MANUFACTURED & THEIR WASTE ETC 45,766 63,298 -28% 2,219 4,837 - - - 14,195 - - - 700 4,341 19,474 27 :CRUDE FERTILIZERS & CRUDE MINERALS (EXC FUELS ETC) 445,295 383,794 16% 36,457 12,159 40,773 46,009 26,439 21,226 64,040 61,833 33,796 19,818 56,355 26,390 28 :METALLIFEROUS ORES & METAL SCRAP 0 2,243 -100% - - - - - - - - - - - - 29 :CRUDE ANIMAL & VEGETABLE MATERIALS N.E.S. 54,429 139,526 -61% 2,200 5,859 - 3,361 3,202 11,721 15,547 - 2,483 2,047 647 7,362 32 :COAL, COKE & BRIQUETTES 0 409,431 -100% - - - - - - - - - - - - 33 :PETROLEUM, PETROLEUM 7,144,12 2,607,80 114,55 3,129,08 2,747,55 PRODUCTS & RELATED MATERIALS 3 3 174% 3,665 24,901 0 47,116 16,428 891,730 5 36,355 7 23,785 82,708 26,243 34 :GAS, NATURAL & 105,86 MANUFACTURED 623,466 103,294 504% - - 8 - 102,436 103,730 101,127 1,116 99,088 110,101 - - 35 :ELECTRIC CURRENT 0 0 - - - - - - - - - - - - - 41 :ANIMAL OILS & FATS 26,838 65,174 -59% - 10,297 - 9,050 2,006 4,211 1,274 - - - - - 42 :FIXED VEGETABLE FATS & OILS, CRUDE,REFINED,FRACTIO 74,571 140,527 -47% - 8,428 - 30,119 - - 9,325 10,132 4,228 10,275 2,064 - 43 :ANIMAL OR VEGETABLE FATS & OILS, PROCESSED, & WAXE 27,994 130,305 -79% - 9,769 - 2,925 - 2,274 2,114 2,925 - 3,737 - 4,250 1,048,60 51 :ORGANIC CHEMICALS 567,690 5 -46% 90,000 2,010 89,702 35,416 2,429 128,059 44,392 10,022 820 73,872 61,620 29,348 52 :INORGANIC CHEMICALS 360,467 544,387 -34% 68,959 19,230 39,400 24,647 25,053 10,451 52,163 854 28,237 64,472 - 27,001 53 :DYEING, TANNING & 1,027,30 1,096,18 104,38 COLOURING MATERIALS 6 1 -6% 47,236 100,350 1 86,557 94,976 111,064 137,984 65,051 78,016 65,359 58,270 78,062 54 :MEDICINAL & 2,957,34 3,972,19 345,80 PHARMACEUTICAL PRODUCTS 0 1 -26% 187,530 258,075 9 506,206 434,266 237,179 201,751 209,630 143,800 198,914 151,440 82,740 55 :ESSENTIAL OILS & PERFUME 4,449,94 4,939,02 362,09 MATERIALS; TOILET PREPS E 1 5 -10% 390,669 386,901 0 548,007 329,700 243,594 284,864 398,179 383,826 319,110 287,429 515,572 56 :FERTILIZERS (OTHER THAN 3,506,73 2,017,51 1,029,80 2,476,92 THOSE OF GROUP 272) 2 2 74% - - - 8 4 - - - - - - - 1,103,94 1,169,68 57 :PLASTICS IN PRIMARY FORMS 8 8 -6% 40,151 23,772 61,774 103,759 132,244 111,424 51,534 1,532 97,216 20,005 435,966 24,571 58 :PLASTICS IN NON-PRIMARY 1,794,82 2,698,17 190,86 FORMS 5 5 -33% 142,988 112,348 5 121,355 157,288 586,527 110,290 95,640 64,759 67,042 90,482 55,241 59 :CHEMICAL MATERIALS & 2,505,28 3,358,75 184,67 PRODUCTS N.E.S. 6 7 -25% 190,094 315,404 2 234,695 223,832 274,969 264,792 130,760 163,117 226,154 132,930 163,867 61 :LEATHER, LEATHER MANUFACTURES N.E.S & DRESSED FURS 194,897 219,505 -11% 12,319 23,683 42,146 15,029 35,821 2,063 8,137 8,468 5,904 21,608 7,545 12,174 Page 9 of 17 Food & Drink in Iceland Sector Report 1,506,56 2,296,52 223,71 62 :RUBBER MANUFACTURES N.E.S. 2 2 -34% 64,988 133,434 7 239,410 101,271 140,632 130,080 170,050 122,423 25,873 62,653 92,031 63 :CORK & WOOD MANUFACTURES (EXCLUDING FURNITURE) 389,883 487,085 -20% 17,102 51,041 63,103 71,827 35,293 40,855 27,342 31,322 18,005 2,423 10,441 21,129 64 :PAPER, PAPERBOARD & 2,550,72 2,444,93 286,25 MANUFACTURES THEREOF 4 1 4% 127,816 182,830 2 168,342 207,256 179,756 220,092 79,323 292,089 284,554 112,634 409,780 65 :TEXTILE YARN, FABRICS, MADE 1,182,02 1,610,77 179,98 UP ARTICLES ETC 7 3 -27% 44,844 128,494 6 90,119 156,937 109,337 113,272 60,254 52,661 89,806 83,841 72,476 66 :NON-METALLIC MINERAL 4,614,08 4,053,65 529,59 1,754,83 MANUFACTURES N.E.S. 0 8 14% 395,056 201,936 0 195,388 362,136 158,519 4 237,627 511,611 114,694 86,921 65,768 1,559,65 1,359,19 67 :IRON & STEEL 6 8 15% 69,296 446,712 73,301 21,267 67,802 99,154 172,896 59,828 123,718 215,548 114,986 95,148 1,555,61 1,624,11 165,30 68 :NON-FERROUS METALS 6 7 -4% 29,575 143,832 1 86,992 64,106 66,987 141,352 231,773 81,718 230,554 130,227 183,199 69 :MANUFACTURES OF METAL 7,149,80 8,864,74 869,69 N.E.S. 3 4 -19% 498,043 666,604 8 697,832 712,890 783,496 469,547 688,328 561,846 631,884 388,161 181,474 71 :POWER GENERATING 29,474,1 14,907,1 5,168,59 126,68 2,772,97 2,739,70 8,859,16 2,845,64 2,973,91 MACHINERY & EQUIPMENT 63 74 98% 8 103,445 1 78,272 3 6 3 205,031 9 5 87,011 3,513,719 72 :MACHINERY SPECIALIZED FOR 10,129,4 17,818,1 1,470,30 1,473,5 1,392,62 PARTICULAR INDUSTRIES 26 27 -43% 3 1,028,893 43 1 666,986 953,289 713,006 922,174 472,918 803,366 204,446 27,881 1,012,56 449,06 73 :METALWORKING MACHINERY 852,412 2 -16% 54,942 72,065 5 37,114 11,273 21,469 101,550 36,272 35,693 20,850 6,444 5,675 74 :GENERAL INDUSTRIAL MACHINERY & EQP. & MACHINE 6,257,10 11,158,7 824,52 PT.N 7 40 -44% 645,850 881,380 4 650,430 653,620 367,372 548,567 245,622 452,710 456,244 216,749 314,039 75 :OFFICE MACHINES & ADP 3,327,05 4,572,43 273,91 MACHINES 9 1 -27% 268,303 521,290 5 370,016 178,054 243,189 307,680 233,224 184,811 421,104 112,198 213,275 76 :TELECOMMS & SOUND RECORDING & REPRODUCING APP. 7,745,55 6,300,79 500,69 1,320,38 1,171,14 & E 3 0 23% 548,431 791,249 8 6 746,887 598,583 9 425,608 611,331 307,520 267,267 456,444 77 :ELE MACHINERY, APP & 4,474,61 6,043,10 349,21 APPLIANCES & ELE PT THEREOF N 1 8 -26% 728,623 467,653 2 572,669 211,755 382,395 467,498 235,235 302,530 341,030 278,317 137,694 78 :ROAD VEHICLES (INCLUDING 22,003,0 38,744,7 4,534,77 3,719,3 2,530,91 2,279,88 1,044,56 3,040,51 AIR CUSHION VEHICLES) 28 09 -43% 7 3,943,642 66 8 5 3 354,520 156,517 8 108,324 64,107 225,891 79 :OTHER TRANSPORT 3,989,77 4,852,36 388,74 EQUIPMENT 6 3 -18% 236,972 479,980 7 346,587 366,363 268,045 326,341 329,929 196,914 376,329 246,407 427,162 81 :P/FAB BUILDINGS;SANIT.,PLUMBING,HEA 1,351,39 TING &LIGHTING 841,283 7 -38% 120,920 44,282 78,712 177,881 41,858 64,841 140,719 14,347 29,283 56,730 54,864 16,846 82 :FURNITURE & PARTS THEREOF; 1,604,25 2,247,77 146,33 BEDDING, MATTRESSES ETC 7 0 -29% 65,143 76,338 3 382,649 86,973 109,258 167,687 84,458 347,617 71,756 23,542 42,503 83 :TRAVEL GOODS, HANDBAGS & SIMILAR CONTAINERS 214,193 413,379 -48% 5,529 27,267 44,880 9,667 26,543 13,793 19,320 25,141 18,472 9,290 3,328 10,963 84 :ARTICLES OF APPAREL & 7,551,77 9,504,15 744,31 CLOTHING ACCESSORIES 1 2 -21% 536,050 988,048 0 716,696 685,475 499,962 422,451 829,705 696,925 486,627 449,849 495,673 85 :FOOTWEAR 300,179 640,798 -53% 20,000 12,549 19,110 16,403 9,273 79,011 31,522 23,780 38,635 17,902 15,416 16,578 87 :PROFESSIONAL, SCIENTIFIC & 3,091,84 3,040,86 283,30 CONTROLLING INS & APP N 1 7 2% 248,215 381,729 9 325,852 463,942 164,211 221,695 253,670 192,494 158,558 230,135 168,031 88 :PHOTOGRAPHIC & OPTICAL GOODS, N.E.S.; WATCHES & CL 569,613 796,957 -29% 23,060 55,255 52,849 52,625 52,472 73,181 63,892 39,209 42,218 37,733 42,771 34,348 89 :MISCELLANEOUS 12,692,5 14,752,6 1,397,6 1,923,52 1,492,03 1,166,30 MANUFACTURED ARTICLES N.E.S. 81 09 -14% 896,464 936,710 24 934,079 981,007 8 0 612,128 4 811,410 782,320 758,977 91 :POSTAL PACKAGES NOT CLASSIFIED ACCORDING TO KIND 495,815 531,059 -7% 48,550 49,532 49,109 44,313 47,276 36,229 45,874 39,293 43,641 22,077 24,895 45,026 93 :SPECIAL TRANSACTIONS AND 0 3,416 -100% - - - - - - - - - - - - Page 10 of 17 Food & Drink in Iceland Sector Report COMMODITIES NOT CLASSIFIED ACCORDING TO KIND 96 :COIN (OTHER THAN GOLD COIN), NOT BEING LEGAL TENDER 86,001 341,600 -75% - - - - - - - - - - 86,001 - 97 :GOLD AND GOLD PLATE UNWROUGHT, SEMI- MANUFACTURED OR SCRAP 0 0 - - - - - - - - - - - - - 98 :MILITARY WEAPONS AND ACCESSORIES 0 34,274 -100% - - - - - - - - - - - - ATTACHMENT III SITC Standard Internati Nes Not onal elsewher UK Imports of Goods from 11/03/2 Classific e Europe 2008 009 ation specified Countries are in alphabetical order Source: BERR SPA Statistics Analysis Directorate based on HMRC data 2008 2008 2008 2008 2008 2008 2008 2008 2008 Period 2008 2007 2008 Jan Feb Mar Apr May 2008 Jun 2008 Jul Aug Sep Oct Nov Dec Pounds Pounds % Pounds Pounds Pounds Pounds Pounds Pounds Pounds Pounds Pounds Pounds Pounds Pounds Units Sterling Sterling change Sterling Sterling Sterling Sterling Sterling Sterling Sterling Sterling Sterling Sterling Sterling Sterling Total Total Total Total Total Total Total Total Total Total Total Total Total Total Total Flow Imports Imports Imports Imports Imports Imports Imports Imports Imports Imports Imports Imports Imports Imports Imports Country SITC 440,244, 421,810, 31,099,8 31,584,1 43,486,8 37,172,9 32,805,1 33,757,1 40,467,7 40,571,7 44,423,7 40,822,8 37,580,9 26,470,8 ICELAND Total 040 771 4% 14 99 47 02 21 20 54 78 46 93 75 91 00 :LIVE ANIMALS OTHER THAN ANIMALS OF DIVISION 03 33,924 17,733 91% 12,396 - 3,984 - - - - - 1,388 5,980 10,176 - 1,137,28 01 :MEAT & MEAT PREPARATIONS 3 523,186 117% 34,000 32,054 20,208 33,218 21,211 36,499 67,460 43,466 62,301 315,108 439,901 31,857 02 :DAIRY PRODUCTS & BIRDS' EGGS 329,489 532,842 -38% - 720 180,299 - - 720 147,750 - - - - - 03 :FISH,CRUSTACEANS,MOLLUSCS & 354,965, 357,461, 25,882,3 25,419,8 39,175,3 30,730,6 28,611,1 30,146,9 32,313,4 28,913,8 31,779,1 28,792,6 29,119,3 24,081,1 AQ.INVERTS & PREPS THE 776 563 -1% 13 56 20 05 42 53 25 98 41 23 08 92 04 :CEREALS & CEREAL PREPARATIONS 0 0 - - - - - - - - - - - - - 05 :VEGETABLES & FRUIT 50,719 169,138 -70% 11,891 7,995 4,254 - - - - - 1,216 - - 25,363 06 :SUGAR, SUGAR PREPARATIONS & HONEY 0 0 - - - - - - - - - - - - - 07 :COFFEE, TEA, COCOA, SPICES & MANUFACTURES THEREOF 0 13,737 -100% - - - - - - - - - - - - 08 :FEEDING STUFF FOR ANIMALS (NOT 6,266,92 2,747,53 1,281,90 1,135,65 1,440,01 INC.UNMILLED CEREAL 8 3 128% 647,075 31,626 717,900 3 47,879 27,482 8 13,202 501,020 423,164 9 - 09 :MISCELLANEOUS EDIBLE PRODUCTS & PREPARATIONS 0 128,388 -100% - - - - - - - - - - - - Page 11 of 17 Food & Drink in Iceland Sector Report 11 :BEVERAGES 429,754 178,511 141% 6,420 17,600 34,524 33,671 55,645 16,926 58,517 39,414 22,355 19,379 69,507 55,796 12 :TOBACCO & TOBACCO MANUFACTURES 0 0 - - - - - - - - - - - - - 21 :HIDES, SKINS & FURSKINS, RAW 1,871 2,401 -22% 1,871 - - - - - - - - - - - 22 :OIL SEEDS & OLEAGINOUS FRUITS 0 0 - - - - - - - - - - - - - 23 :CRUDE RUBBER (INCLUDING SYNTHETIC & RECLAIMED) 3,914 0 100% - - - - 2,884 - 1,030 - - - - - 24 :CORK & WOOD 9,816 0 100% - - - - - 9,816 - - - - - - 25 :PULP & WASTE PAPER 8,899 6,552 36% 2,280 - - - - 2,013 - - 2,386 - - 2,220 26 :TEXTILE FIBRES NOT MANUFACTURED & THEIR WASTE ETC 628,258 284,536 121% 60,295 8,249 39,583 115,762 84,298 106,301 43,946 - 66,971 70,234 31,881 738 27 :CRUDE FERTILIZERS & CRUDE MINERALS (EXC FUELS ETC) 242,162 109,221 122% 9,695 17,322 29,345 12,796 114,528 12,579 11,574 - 34,323 - - - 28 :METALLIFEROUS ORES & METAL 8,495,09 4,107,08 1,097,31 1,079,91 1,370,39 SCRAP 1 7 107% 819,826 681,754 519,239 2 382,748 527,093 442,619 678,142 8 543,865 7 352,178 29 :CRUDE ANIMAL & VEGETABLE 1,316,71 MATERIALS N.E.S. 1 865,007 52% 166,305 16,518 - 9,307 196,563 9,303 10,005 428,590 9,303 422,580 35,950 12,287 32 :COAL, COKE &BRIQUETTES 0 0 - - - - - - - - - - - - - 33 :PETROLEUM, PETROLEUM PRODUCTS & RELATED MATERIALS 1,268 614 107% - - - - 1,268 - - - - - - - 34 :GAS, NATURAL & MANUFACTURED 0 0 - - - - - - - - - - - - - 35 :ELECTRIC CURRENT 0 0 - - - - - - - - - - - - - 2,362,53 2,769,84 1,040,46 41 :ANIMAL OILS & FATS 4 9 -15% 79,420 82,278 61,494 39,157 76,949 146,241 127,618 164,940 7 102,095 237,565 204,310 42 :FIXED VEGETABLE FATS & OILS, CRUDE,REFINED,FRACTIO 184,932 0 100% - 14,400 - 1,672 7,429 - - - - - 161,431 - 43 :ANIMAL OR VEGETABLE FATS & OILS, PROCESSED, & WAXE 0 0 - - - - - - - - - - - - - 51 :ORGANIC CHEMICALS 0 1,766 -100% - - - - - - - - - - - - 52 :INORGANIC CHEMICALS 741,097 54,730 1254% - - - - 3,068 - - - 738,029 - - - 53 :DYEING, TANNING & COLOURING MATERIALS 49,688 87,320 -43% - 6,365 7,728 - 6,386 1,610 7,131 - 4,731 4,823 - 10,914 54 :MEDICINAL & PHARMACEUTICAL 1,204,34 1,408,75 PRODUCTS 8 0 -15% 113,543 52,317 - 219,755 220,642 31,002 307,341 - 80,980 56,125 13,372 109,271 55 :ESSENTIAL OILS & PERFUME MATERIALS; TOILET PREPS E 144,753 99,284 46% 6,587 83,362 - 2,160 16,822 - 1,377 - 8,401 25,427 617 - 56 :FERTILIZERS (OTHER THAN THOSE OF GROUP 272) 0 0 - - - - - - - - - - - - - 57 :PLASTICS IN PRIMARY FORMS 11,308 32,433 -65% - - - - - - - - 1,468 - 5,267 4,573 58 :PLASTICS IN NON-PRIMARY FORMS 145,015 112,807 29% 8,864 7,280 11,345 24,996 17,392 11,767 7,852 4,606 24,869 17,575 6,687 1,782 59 :CHEMICAL MATERIALS & PRODUCTS N.E.S. 128,904 42,800 201% 3,376 - - - - - - 3,627 48,654 4,318 5,470 63,459 61 :LEATHER, LEATHER MANUFACTURES N.E.S & DRESSED FURS 4,480 1,245 260% - - - - 928 - - - - 3,552 - - 62 :RUBBER MANUFACTURES N.E.S. 69,850 27,590 153% 4,303 64,830 - - - - - - - - 717 - Page 12 of 17 Food & Drink in Iceland Sector Report 63 :CORK & WOOD MANUFACTURES (EXCLUDING FURNITURE) 0 5,289 -100% - - - - - - - - - - - - 64 :PAPER, PAPERBOARD & MANUFACTURES THEREOF 7,614 20,802 -63% 1,013 - - - - - 1,112 - - - 5,489 - 65 :TEXTILE YARN, FABRICS, MADE UP ARTICLES ETC 21,389 123,055 -83% - 2,801 1,756 - 8,083 685 861 1,718 - 4,370 1,115 - 66 :NON-METALLIC MINERAL MANUFACTURES N.E.S. 826,388 642,741 29% 35,308 63,554 101,593 90,750 50,602 82,386 51,219 113,317 81,541 75,179 63,874 17,065 14,768,1 11,133,4 1,212,28 1,382,71 1,071,71 1,379,95 1,030,59 1,795,94 1,499,36 2,068,41 1,994,24 67 :IRON & STEEL 61 70 33% 7 0 6 2 0 6 416,790 323,287 0 5 3 592,865 13,851,9 1,424,65 1,784,67 1,112,74 4,658,99 2,672,53 1,131,12 1,265,64 68 :NON-FERROUS METALS 27 9 872% 731,353 9 213,026 152,808 - 2,188 9 1 5 6 5 126,827 69 :MANUFACTURES OF METAL N.E.S. 518,129 420,957 23% 53,807 5,985 17,846 46,575 2,141 3,083 117,648 158,060 71,316 37,395 3,547 726 71 :POWER GENERATING MACHINERY & 14,229,1 11,701,9 3,567,37 3,005,67 2,871,03 3,352,91 EQUIPMENT 54 58 22% 316,860 701,234 15,303 295,808 77,768 5,460 9 5 4 1 13,881 5,841 72 :MACHINERY SPECIALIZED FOR 3,403,74 1,756,95 PARTICULAR INDUSTRIES 9 4 94% 75,240 200,037 616,803 374,221 371,519 82,045 96,806 456,568 311,614 39,125 663,110 116,661 73 :METALWORKING MACHINERY 165,909 222,706 -26% 15,596 9,380 35,571 738 713 4,509 766 8,730 25,273 24,147 33,173 7,313 74 :GENERAL INDUSTRIAL MACHINERY & 4,444,40 2,572,13 1,068,12 EQP. & MACHINE PT.N 2 7 73% 166,249 248,800 113,332 120,351 997,489 347,527 98,983 6 899,459 163,481 170,643 49,962 1,080,19 75 :OFFICE MACHINES & ADP MACHINES 600,824 7 -44% 71,266 44,646 87,092 67,188 34,598 16,776 24,616 46,105 75,689 63,085 35,172 34,591 76 :TELECOMMS & SOUND RECORDING & 1,435,38 REPRODUCING APP. & E 823,083 3 -43% 27,937 28,241 117,958 368,387 42,982 34,883 17,355 39,504 33,893 79,796 17,212 14,935 77 :ELE MACHINERY, APP & APPLIANCES 1,092,58 & ELE PT THEREOF N 739,443 6 -32% 61,846 168,928 6,422 228,274 28,817 5,612 29,067 76,277 33,541 52,249 22,467 25,943 78 :ROAD VEHICLES (INCLUDING AIR 2,681,16 CUSHION VEHICLES) 200,994 9 -93% - 13,484 20,033 4,729 73,740 - - - 89,008 - - - 3,806,39 7,832,15 2,642,56 79 :OTHER TRANSPORT EQUIPMENT 3 7 -51% 127,251 127,046 59,315 285,544 44,222 168,415 33,235 127,247 39,113 1 71,474 80,970 81 :P/FAB BUILDINGS;SANIT.,PLUMBING,HEATING &LIGHTING 7,192 9,608 -25% - 4,181 968 - - - - - 2,043 - - - 82 :FURNITURE & PARTS THEREOF; BEDDING, MATTRESSES ETC 26,255 49,185 -47% 843 1,438 3,334 1,122 1,045 - - 1,946 1,614 924 13,131 858 83 :TRAVEL GOODS, HANDBAGS & SIMILAR CONTAINERS 14,724 10,088 46% - - - - 2,050 - - - - 12,674 - - 84 :ARTICLES OF APPAREL & CLOTHING ACCESSORIES 270,491 432,200 -37% - 5,348 2,821 14,225 638 - - 7,877 - - 3,391 236,191 85 :FOOTWEAR 988 0 100% - - - - - - - - - - - 988 87 :PROFESSIONAL, SCIENTIFIC & 2,833,93 CONTROLLING INS & APP N 869,363 7 -69% 160,714 117,643 5,508 26,002 55,298 28,386 71,679 70,008 116,851 110,542 76,583 30,149 88 :PHOTOGRAPHIC & OPTICAL GOODS, N.E.S.; WATCHES & CL 39,674 217,309 -82% 10,063 790 - 7,698 - 3,739 - - 8,901 4,248 1,005 3,230 89 :MISCELLANEOUS MANUFACTURED 1,114,59 1,616,13 ARTICLES N.E.S. 4 8 -31% 91,145 98,966 147,099 71,270 83,081 60,909 122,293 91,119 68,602 105,026 127,767 47,317 91 :POSTAL PACKAGES NOT CLASSIFIED ACCORDING TO KIND 524,428 479,481 9% 70,576 29,782 44,128 34,946 31,963 28,266 21,893 27,338 14,438 48,791 49,788 122,519 93 :SPECIAL TRANSACTIONS AND COMMODITIES NOT CLASSIFIED ACCORDING TO KIND 0 0 - - - - - - - - - - - - - 96 :COIN (OTHER THAN GOLD COIN), NOT BEING LEGAL TENDER 0 229,982 -100% - - - - - - - - - - - - Page 13 of 17 Food & Drink in Iceland Sector Report 97 :GOLD AND GOLD PLATE UNWROUGHT, SEMI-MANUFACTURED OR SCRAP 0 0 - - - - - - - - - - - - - 98 :MILITARY WEAPONS AND ACCESSORIES 0 0 - - - - - - - - - - - - - Page 14 of 17 Food & Drink in Iceland Sector Report ATTACHMENT IV UK TRADE IN GOODS WITH EUROPE TOTALS FOR JAN-JUL 2009 Source: BIS EPA Statistics & Analysis based on HMRC data 2009 Jan- 2008 Jan- 2009 Jan- 2008 Jan- Period Jul Jul Jul Jul Pounds Pounds Pounds Pounds Units Sterling Sterling Sterling Sterling Total Total % Total Total % Flow Imports Imports change Exports Exports change Country STIC ICELAND Total 251,743,168 250,373,757 1% 80,889,774 125,371,999 -35% 00 :LIVE ANIMALS OTHER THAN ANIMALS OF DIVISION 03 4,625 16,380 -72% 0 4,015 -100% 01 :MEAT & MEAT PREPARATIONS 376,552 244,650 54% 87,519 135,729 -36% 02 :DAIRY PRODUCTS & BIRDS' EGGS 167,000 329,489 -49% 123,243 129,520 -5% 03 :FISH,CRUSTACEANS,MOLLUSCS & AQ.INVERTS & PREPS THE 204,340,190 212,279,614 -4% 121,472 116,827 4% 04 :CEREALS & CEREAL PREPARATIONS 0 0 - 4,064,716 5,612,532 -28% 05 :VEGETABLES & FRUIT 0 24,140 -100% 894,198 811,805 10% 06 :SUGAR, SUGAR PREPARATIONS & HONEY 0 0 - 145,456 287,354 -49% 07 :COFFEE, TEA, COCOA, SPICES & MANUFACTURES THEREOF 0 0 - 288,832 447,078 -35% 08 :FEEDING STUFF FOR ANIMALS (NOT INC.UNMILLED CEREAL 27,052 3,889,523 -99% 483,192 220,251 119% 09 :MISCELLANEOUS EDIBLE PRODUCTS & PREPARATIONS 0 0 - 1,618,798 1,576,083 3% 11 :BEVERAGES 81,175 223,303 -64% 1,652,430 1,453,633 14% 12 :TOBACCO & TOBACCO MANUFACTURES 0 0 - 2,000 0 100% 21 :HIDES, SKINS & FURSKINS, RAW 0 1,871 -100% 0 0 - 22 :OIL SEEDS & OLEAGINOUS FRUITS 0 0 - 23,098 2,905 695% 23 :CRUDE RUBBER (INCLUDING SYNTHETIC & RECLAIMED) 0 3,914 -100% 750 47,904 -98% 24 :CORK & WOOD 0 9,816 -100% 31,551 2,428 1199% 25 :PULP & WASTE PAPER 9,049 4,293 111% 0 6,780 -100% 26 :TEXTILE FIBRES NOT MANUFACTURED & THEIR WASTE ETC 491,390 458,434 7% 13,343 21,251 -37% Page 15 of 17 Food & Drink in Iceland Sector Report 27 :CRUDE FERTILIZERS & CRUDE MINERALS (EXC FUELS ETC) 63,540 207,839 -69% 315,586 247,103 28% 28 :METALLIFEROUS ORES & METAL SCRAP 1,717,202 4,470,591 -62% 3,249 0 100% 29 :CRUDE ANIMAL & VEGETABLE MATERIALS N.E.S. 504,144 408,001 24% 59,593 41,890 42% 32 :COAL, COKE & BRIQUETTES 0 0 - 1,384 0 100% 33 :PETROLEUM, PETROLEUM PRODUCTS & RELATED MATERIALS 1,162 1,268 -8% 12,836,425 4,227,475 204% 34 :GAS, NATURAL & MANUFACTURED 0 0 - 585,265 413,161 42% 35 :ELECTRIC CURRENT 0 0 - 0 0 - 41 :ANIMAL OILS & FATS 2,555,329 613,157 317% 66,151 26,838 146% 42 :FIXED VEGETABLE FATS & OILS, CRUDE,REFINED,FRACTIO 0 23,501 -100% 50,291 47,872 5% 43 :ANIMAL OR VEGETABLE FATS & OILS, PROCESSED, & WAXE 768 0 100% 10,109 17,082 -41% 51 :ORGANIC CHEMICALS 634 0 100% 340,006 392,008 -13% 52 :INORGANIC CHEMICALS 5,624 3,068 83% 66,435 239,903 -72% 53 :DYEING, TANNING & COLOURING MATERIALS 32,243 29,220 10% 739,362 682,548 8% 54 :MEDICINAL & PHARMACEUTICAL PRODUCTS 549,503 944,600 -42% 1,039,681 2,170,816 -52% 55 :ESSENTIAL OILS & PERFUME MATERIALS; TOILET PREPS E 26,398 110,308 -76% 2,528,264 2,545,825 -1% 56 :FERTILIZERS (OTHER THAN THOSE OF GROUP 272) 0 0 - 2,352,877 3,506,732 -33% 57 :PLASTICS IN PRIMARY FORMS 50,941 0 100% 370,510 524,658 -29% 58 :PLASTICS IN NON-PRIMARY FORMS 56,346 89,496 -37% 771,609 1,421,661 -46% 59 :CHEMICAL MATERIALS & PRODUCTS N.E.S. 153,608 3,376 4450% 1,722,823 1,688,458 2% 61 :LEATHER, LEATHER MANUFACTURES N.E.S & DRESSED FURS 5,617 928 505% 86,317 139,198 -38% 62 :RUBBER MANUFACTURES N.E.S. 1,691 69,133 -98% 561,787 1,033,532 -46% 63 :CORK & WOOD MANUFACTURES (EXCLUDING FURNITURE) 0 0 - 146,393 306,563 -52% 64 :PAPER, PAPERBOARD & MANUFACTURES THEREOF 3,093 2,125 46% 1,587,936 1,372,344 16% 65 :TEXTILE YARN, FABRICS, MADE UP ARTICLES ETC 15,856 14,186 12% 516,397 822,989 -37% 66 :NON-METALLIC MINERAL MANUFACTURES N.E.S. 365,051 475,412 -23% 1,249,153 3,597,459 -65% 67 :IRON & STEEL 6,888,993 8,289,991 -17% 510,151 950,428 -46% 68 :NON-FERROUS METALS 21,076,738 3,996,803 427% 716,389 698,145 3% 69 :MANUFACTURES OF METAL N.E.S. 266,751 247,085 8% 3,439,912 4,698,110 -27% 71 :POWER GENERATING MACHINERY & EQUIPMENT 6,679,829 4,979,812 34% 13,944,090 19,848,838 -30% Page 16 of 17 Food & Drink in Iceland Sector Report 72 :MACHINERY SPECIALIZED FOR PARTICULAR INDUSTRIES 994,425 1,816,671 -45% 1,139,014 7,698,641 -85% 73 :METALWORKING MACHINERY 104,101 67,273 55% 95,701 747,478 -87% 74 :GENERAL INDUSTRIAL MACHINERY & EQP. & MACHINE PT.N 987,240 2,092,731 -53% 2,165,512 4,571,743 -53% 75 :OFFICE MACHINES & ADP MACHINES 486,935 346,182 41% 1,682,708 2,162,447 -22% 76 :TELECOMMS & SOUND RECORDING & REPRODUCING APP. & E 158,333 637,743 -75% 1,566,764 5,677,383 -72% 77 :ELE MACHINERY, APP & APPLIANCES & ELE PT THEREOF N 133,942 528,966 -75% 1,577,921 3,179,805 -50% 78 :ROAD VEHICLES (INCLUDING AIR CUSHION VEHICLES) 39,919 111,986 -64% 1,882,917 18,407,671 -90% 79 :OTHER TRANSPORT EQUIPMENT 484,907 845,028 -43% 1,571,419 2,413,035 -35% 81 :P/FAB BUILDINGS;SANIT.,PLUMBING,HEATING &LIGHTING 0 5,149 -100% 256,028 669,213 -62% 82 :FURNITURE & PARTS THEREOF; BEDDING, MATTRESSES ETC 14,828 7,782 91% 548,941 1,034,381 -47% 83 :TRAVEL GOODS, HANDBAGS & SIMILAR CONTAINERS 39,785 2,050 1841% 143,977 146,999 -2% 84 :ARTICLES OF APPAREL & CLOTHING ACCESSORIES 60,120 23,032 161% 3,356,717 4,592,992 -27% 85 :FOOTWEAR 0 0 - 177,086 187,868 -6% 87 :PROFESSIONAL, SCIENTIFIC & CONTROLLING INS & APP N 598,346 465,230 29% 1,517,241 2,088,953 -27% 88 :PHOTOGRAPHIC & OPTICAL GOODS, N.E.S.; WATCHES & CL 65,643 22,290 194% 342,573 373,334 -8% 89 :MISCELLANEOUS MANUFACTURED ARTICLES N.E.S. 797,650 674,763 18% 6,433,578 8,561,442 -25% 91 :POSTAL PACKAGES NOT CLASSIFIED ACCORDING TO KIND 258,900 261,554 -1% 257,480 320,883 -20% 93 :SPECIAL TRANSACTIONS AND COMMODITIES NOT CLASSIFIED ACCORDING TO KIND 0 0 - 3,944 0 100% 96 :COIN (OTHER THAN GOLD COIN), NOT BEING LEGAL TENDER 0 0 - 0 0 - 97 :GOLD AND GOLD PLATE UNWROUGHT, SEMI-MANUFACTURED OR SCRAP 0 0 - 0 0 - 98 :MILITARY WEAPONS AND ACCESSORIES 0 0 - 1,510 0 100% Page 17 of 17
Posted: 29 September 2010, last updated 14 March 2011

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