Iceland Trade Summary

1998 Data

Iceland exports, imports, tariff by year.

Country / Region
Year
For at a glance i.e. latest available trade, tariff, trade barriers and other trade related data Click Here.
Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports

Products

TRADE SUMMARY FOR Iceland

Overall Exports and Imports

Exportsmore »
Definition Total Import/Export Value in thousands of US Dollars current value.
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Valuation Export - FOB; Import - CIF
Currency Unit US Dollar - Current value
Last Updated DEC-12-2024
Exports (in US$ Mil): 		1,931
Definition Total number of products exported by a country at the Harmonized System six digit level in any given year.
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Notes 1) All traded products at HS 6 digits are considered for this computation.
Last Updated DEC-12-2024
No. Of products: 		1,147
Definition Number of countries to whom a particular country exports data in any given year.
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Notes 1) Product 'Total' is used for this computation.
Last Updated DEC-12-2024
No. Of partners: 		95
Importsmore »
Definition Total Import/Export Value in thousands of US Dollars current value.
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Valuation Export - FOB; Import - CIF
Currency Unit US Dollar - Current value
Last Updated DEC-12-2024
Imports (in US$ Mil): 		2,483
Definition Total number of products imported by a country at the Harmonized System (HS) six digit level in any given year.
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Notes 1) All traded products at HS 6 digits are considered for this computation.
Last Updated DEC-12-2024
No. Of products: 		4,089
Definition Number of countries from which a particular country imports data in any given year.
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Notes 1) Product 'Total' is used for this computation.
Last Updated DEC-12-2024
No. Of partners: 		124

Top 5 Products exports imports at HS 6 digit level

Exports (US$ Thousands)  
Product Code 030420
Product Name Frozen fish fillets
Data Source UN Comtrade
Frozen fish fillets		407,371.42
Product Code 760110
Product Name Aluminium unwrought, not alloyed
Data Source UN Comtrade
Aluminium unwrought, ...		260,339.73
Product Code 230120
Product Name Flours, meals and pellets of fish, etc, unfit f
Data Source UN Comtrade
Flours, meals and pe ...		166,713.42
Product Code 160520
Product Name Shrimps and prawns, prepared or preserved
Data Source UN Comtrade
Shrimps and prawns, ...		161,400.08
Product Code 030562
Product Name Cod salted or in brine but not dried or smoked
Data Source UN Comtrade
Cod salted or in bri ...		160,440.83
Imports (US$ Thousands)
Product Code 870323
Product Name Automobiles with reciprocating piston engine di
Data Source UN Comtrade
Automobiles with rec ...		94,908.14
Product Code 281820
Product Name Aluminium oxide, other than artificial corundum
Data Source UN Comtrade
Aluminium oxide, oth ...		78,797.30
Product Code 890200
Product Name Fishing vessels and factory ships
Data Source UN Comtrade
Fishing vessels and ...		59,379.08
Product Code 854511
Product Name Carbon or graphite electrodes, of a kind used f
Data Source UN Comtrade
Carbon or graphite e ...		51,473.63
Product Code 880240
Product Name Aircraft nes of an unladen weight exceeding 15,
Data Source UN Comtrade
Aircraft nes of an u ...		49,237.90

Top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
United Kingdom366 18.96
Germany290 15.00
United States255 13.20
France130 6.75
Denmark105 5.45
Exporter Trade (US$ Mil) Partner share(%)
Germany284 11.45
United States276 11.10
United Kingdom240 9.66
Norway228 9.18
Denmark191 7.67

Exports and Imports of Product Groups

Product Categories Exports Imports
Export(US$ Mil) Product share(%) Import(US$ Mil) Prod share(%) Weighted Average (%)
Raw materials769 39.83 137 5.53 24.33
Intermediate goods787 40.76 415 16.70 1.42
Consumer goods287 14.84 982 39.57 6.20
Capital goods76 3.96 830 33.45 0.53

Trade Indicators

more »
Definition Hirschman Herfindahl index is a measure of the dispersion of trade value across an exporter’s partners. A country with trade (export or import) that is concentrated in a very few markets will have an index value close to 1. Similarly, a country with a perfectly diversified trade portfolio will have an index close to zero.
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Valuation Export - FOB; Import - CIF
Currency Unit
Notes 1) Mirror Exports is considered for export data 2) All Countries except World and EUN are considered as partner group 3) Product 'Total' is used for this computation 4) The indicator is computed at reporter-partner level and aggregated to reporter level
Last Updated DEC-12-2024
HH Market concentration index: 		0.09
Definition It is calculated as the number of countries to which the reporter exports a particular product divided by the number of countries that report importing the product that year.
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Valuation Export - FOB; Import - CIF
Currency Unit
Notes 1) Mirror Exports is considered for export data 2) All products at HS 6 digits are considered 3) Computation is performed at Country-Product level and aggregated to country level
Last Updated DEC-12-2024
Index of export market penetration: 		2.50
Definition Annual percentage growth rate of the world’s trade value (export or import), by sector, at market prices in current U.S. dollars
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Valuation Export - FOB; Import - CIF
Currency Unit
Notes 1) Mirror Exports is considered 2)Growth for a given year is computed with respect to the previous year
Last Updated DEC-12-2024
World Growth: 		-0.47
Definition Annual percentage growth rate of the country’s trade value (export or import), by sector, at market prices in current U.S. dollars
Source WITS - UNSD Comtrade
Classification Harmonized System 1988/92, SITC Revision 2
Valuation Export - FOB; Import - CIF
Currency Unit
Notes 1) Mirror Exports is considered 2)Growth for a given year is computed with respect to the previous year
Last Updated DEC-12-2024
Country Growth: 		3.28

Tariffs

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Source WITS - UNCTAD TRAINS
Classification Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes
Last Updated DEC-12-2024
No Of Tariff Agreement: 		2
Definition Effectively Applied MaxRate (%) tariff; The highest tariff value at the tariff line level within the product category
Source WITS - UNCTAD TRAINS
Classification Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated DEC-12-2024
Maximum Rate (%): 		3,000
Definition Effectively Applied Simple Average tariff (%)
Source WITS - UNCTAD TRAINS
Classification Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated DEC-12-2024
Simple Average (%): 		7.41
Definition Effectively Applied Weighted Average (%) tariff; The average of tariffs weighted by their corresponding trade value
Source WITS - UNCTAD TRAINS
Classification Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated DEC-12-2024
Weighted Average (%): 		4.51
Definition Effectively Applied Duty Free Imports in thousands of US Dollar
Source WITS - UNCTAD TRAINS
Classification Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated DEC-12-2024
Duty Free Imports (US$ Thousand): 		1,682,104.68
Definition Effectively Applied Duty Free Tariff Lines Share in percentage
Source WITS - UNCTAD TRAINS
Classification Harmonized System 1988/92, HS 1996, HS 2002, HS 2007, HS 2012
Notes 1) Tariff_AHS_DutyFreeLines]*100/[Tariff_AHS_TotalLines] 2) Specific duty expressions are estimated using UNCTAD Method (If available)
Last Updated DEC-12-2024
Duty Free Tariff Lines Share (%): 		58.79

Development Indicators

more »
Definition GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
Source WDI
Topic Economic Policy & Debt: National accounts: US$ at current prices: Aggregate indicators
Last Updated DEC-12-2024
GDP (current US$): 		8,504
Definition GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.
Source WDI
Topic Economic Policy & Debt: National accounts: Atlas GNI & GNI per capita
Last Updated DEC-12-2024
GNI per capita, Atlas method (current US$): 		29,270.00
Definition Difference between Exports of goods and services (% of GDP) and Imports of goods and services (% of GDP)
Source WITS - WDI
Notes Indicator codes: NE.EXP.GNFS.ZS, NE.IMP.GNFS.ZS
Last Updated DEC-12-2024
Trade Balance (% of GDP): 		-4.35
Definition Difference between Exports of goods and services (current US$) and Imports of goods and services (current US$)
Source WITS - WDI
Notes Indicator codes: NE.EXP.GNFS.CD, NE.IMP.GNFS.CD
Last Updated DEC-12-2024
Trade Balance (current US$ Mil): 		-370.00
Definition Trade in services is the sum of service exports and imports divided by the value of GDP, all in current U.S. dollars.
Source WDI
Topic Economic Policy & Debt: Balance of payments: Current account: Goods, services & income
Last Updated DEC-12-2024
Trade in services (% of GDP): 		22.23
Definition Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product.
Source WDI
Topic Economic Policy & Debt: National accounts: Shares of GDP & other
Last Updated DEC-12-2024
Trade (% of GDP): 		71.88