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Iceland Trade Summary

2003

Iceland exports, imports, tariff by year.

Country and Region
Year
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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 2003

Overall Exports and Imports for Iceland 2003

Exports and imports of Iceland in 2003 are below, along with number of countries and products

  • The total value of exports (FoB) was 2,380 million.
  • The total value of imports (CIF) was 2,827 million.
  • At the HS6 digit level, 1,248 products were exported to 104 countries and 4,036 products were imported from 124 countries.

Iceland top 5 Export and Import partners 2003

Top five countries to which Iceland exported in 2003 are below, along with the percent of total exports that went to that country:

  1. Iceland exports to United Kingdom worth US$ 417 million, with a partner share of 17.52 percent.
  2. Iceland exports to Germany worth US$ 415 million, with a partner share of 17.43 percent.
  3. Iceland exports to Netherlands worth US$ 267 million, with a partner share of 11.21 percent.
  4. Iceland exports to United States worth US$ 225 million, with a partner share of 9.45 percent.
  5. Iceland exports to Spain worth US$ 151 million, with a partner share of 6.32 percent.

Top five countries from which Iceland imported goods in 2003 are below, along with percent of total imports that came from the country :

  1. Iceland imports from Germany worth US$ 334 million, with a partner share of 11.81 percent.
  2. Iceland imports from Denmark worth US$ 227 million, with a partner share of 8.03 percent.
  3. Iceland imports from United States worth US$ 211 million, with a partner share of 7.46 percent.
  4. Iceland imports from United Kingdom worth US$ 210 million, with a partner share of 7.43 percent.
  5. Iceland imports from Norway worth US$ 196 million, with a partner share of 6.93 percent.

Iceland Top 5 Productsexports imports at HS 6 digit level 2003

The top five exported HS 6 digit level products to world by Iceland along with trade value are:

  1. Iceland exported Aluminium unwrought, not alloyed , worth US$ 446,579.58 million.
  2. Iceland exported Frozen fish fillets , worth US$ 406,104.43 million.
  3. Iceland exported Cod salted or in brine but not dried or smoked , worth US$ 164,789.33 million.
  4. Iceland exported Flours, meals and pellets of fish, etc, unfit f , worth US$ 155,562.87 million.
  5. Iceland exported Shrimps and prawns, prepared or preserved , worth US$ 148,404.85 million.

The top five imported HS 6 digit level products from world by Iceland along with trade value are

  1. Iceland imported Petroleum oils, etc, (excl. crude); preparation , worth US$ 197,509.63 million.
  2. Iceland imported Aluminium oxide, other than artificial corundum , worth US$ 93,811.91 million.
  3. Iceland imported Automobiles with reciprocating piston engine di , worth US$ 89,013.29 million.
  4. Iceland imported Other medicaments of mixed or unmixed products, , worth US$ 76,647.63 million.
  5. Iceland imported Carbon or graphite electrodes, of a kind used f , worth US$ 71,738.46 million.

Exports and Imports of Product Groups 2003

Exports and imports of products by stages of processing in 2003 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2003

Tariffs imposed by Iceland in 2003 are below

  • The maximum rate of tariff in percentage on any product was 2,176.66 percent.
  • The simple average tariff across all products was 7.33 percent.
  • The trade weighted average tariff was 4.31 .
  • The total duty free imports in thousands of US dollars were 1,906,658.02 and duty free tariff line items share was 56.25 percent.

Development Indicators 2003

Key Development Indicators of Iceland in 2003 are below

  • Iceland GDP in current US dollar was 11,429 million.
  • GNI per capita, Atlas method (current US$) was 33,710.00 .
  • Iceland Trade balance: as % of GDP was -2.95.
  • Trade balance in current US$ was -338.00 million.
  • Trade as percentage of GDP was 68.20 .
  • Trade in services as percentage of GDP was 25.67 .

Trade Indicators 2003

Trade Indicators for Iceland in 2003 are below

  • Hirschman Herfindahl market concentration index was 0.09.
  • Index of export market penetration was 2.69.
  • World Growth in percentage was 8.06 and Iceland Country Growth was 3.87 .