The Company’s inventories at December 31, 2016 and 2015, consisted of the following (figures are in thousands of USD):
 
 
 
December 31,
 
 
 
2016
 
2015
 
Raw materials
 
$
15,007
 
$
15,653
 
Work in process
 
 
10,852
 
 
14,222
 
Finished goods
 
 
42,191
 
 
35,695
 
Balance at end of year
 
$
68,050
 
$
65,570