Iceland: Shipping Market 2020

Shipping Market Size in Iceland

The revenue of the shipping market in Iceland amounted to $X in 2018, growing by X% against the previous year. In general, the total market indicated a prominent expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, shipping consumption increased by +X% against 2013 indices. The pace of growth was the most pronounced in 2013 when the market value increased by X% year-to-year. Over the period under review, the shipping market attained its maximum level in 2018 and is expected to retain its growth in the immediate term.

Shipping Production in Iceland

In value terms, shipping production totaled $X in 2018 estimated in export prices. In general, shipping production, however, continues to indicate a deep decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Iceland shipping production peaked at $X in 2007; however, from 2008 to 2018, production failed to regain its momentum.

Shipping Exports

Exports from Iceland

Shipping exports from Iceland amounted to X tons in 2018, lowering by -X% against the previous year. In general, shipping exports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2008 when exports decreased by -X% y-o-y. Over the period under review, shipping exports reached their peak figure at X tons in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, shipping exports stood at $X in 2018. In general, shipping exports continue to indicate a deep curtailment. The pace of growth appeared the most rapid in 2013 when exports decreased by -X% against the previous year. Over the period under review, shipping exports reached their peak figure at $X in 2007; however, from 2008 to 2018, exports remained at a lower figure.

Exports by Country

In 2018, Italy (X tons), distantly followed by France (X tons), Germany (X tons), Finland (X tons) and Australia (X tons) were the major exporters of ships, vessels, ferry-boats for the transport of persons, together committing X% of total exports. Poland (X tons), Norway (X tons), the Philippines (X tons), Bahamas (X tons), Japan (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Australia, while the other leaders experienced more modest paces of growth.

In value terms, the largest shipping markets from Iceland were Italy ($X), France ($X) and Germany ($X), with a combined X% share of total exports.

France recorded the highest growth rate of exports, among the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The shipping export price in Iceland stood at $X per ton in 2018, stabilizing at the previous year. Over the period under review, the shipping export price continues to indicate extraordinary growth. The pace of growth appeared the most rapid in 2017 when the export price increased by X% year-to-year. Over the period under review, the export prices for ships, vessels, ferry-boats for the transport of persons reached their peak figure in 2018 and is expected to retain its growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Germany ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Norway, while the other leaders experienced more modest paces of growth.

Shipping Imports

Imports into Iceland

In 2018, the amount of ships, vessels, ferry-boats for the transport of persons imported into Iceland amounted to X kg, shrinking by -X% against the previous year. Over the period under review, shipping imports continue to indicate a precipitous reduction. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Over the period under review, shipping imports reached their maximum at X tons in 2013; however, from 2014 to 2018, imports stood at a somewhat lower figure.

In value terms, shipping imports stood at $X in 2018. Overall, shipping imports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, shipping imports reached their peak figure at $X in 2014; however, from 2015 to 2018, imports remained at a lower figure.

Imports by Country

The U.S. represented the major importer of ships, vessels, ferry-boats for the transport of persons in the world, with the volume of imports reaching X tons, which was near X% of total imports in 2018. It was distantly followed by Italy (X tons), Germany (X tons) and Norway (X tons), together constituting a X% share of total imports. Liberia (X tons), France (X tons), Bahamas (X tons), Switzerland (X tons) and Sweden (X tons) held a little share of total imports.

Imports into the U.S. increased at an average annual rate of +X% from 2007 to 2018. At the same time, Sweden (+X%), Liberia (+X%), Switzerland (+X%), Germany (+X%) and France (+X%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Italy experienced a relatively flat trend pattern. By contrast, Norway (-X%) and Bahamas (-X%) illustrated a downward trend over the same period. The U.S. (+X p.p.), Germany (+X p.p.), Liberia (+X p.p.), France (+X p.p.), Sweden (+X p.p.) and Switzerland (+X p.p.) significantly strengthened its position in terms of the global imports, while Norway and Bahamas saw its share reduced by -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported ships, vessels, ferry-boats for the transport of persons into Iceland, comprising X% of global imports. The second position in the ranking was occupied by Italy ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. totaled +X%. In the other countries, the average annual rates were as follows: Italy (+X% per year) and Germany (+X% per year).

Import Prices by Country

In 2018, the shipping import price in Iceland amounted to $X per ton, surging by X% against the previous year. Overall, the shipping import price continues to indicate a strong expansion. The growth pace was the most rapid in 2015 an increase of X% year-to-year. Over the period under review, the import prices for ships, vessels, ferry-boats for the transport of persons attained their peak figure in 2018 and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Switzerland ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform