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Iceland Trade Summary

2016

Iceland exports, imports, tariff by year.
Iceland monthly trade data
Iceland quarterly trade data

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 2016

Overall Exports and Imports for Iceland 2016

Exports and imports of Iceland in 2016 are below, along with number of countries and products

  • The total value of exports (FoB) was 4,450 million.
  • The total value of imports (CIF) was 5,703 million.
  • At the HS6 digit level, 1,673 products were exported to 141 countries and 4,055 products were imported from 163 countries.

Iceland top 5 Export and Import partners 2016

Top five countries to which Iceland exported in 2016 are below, along with the percent of total exports that went to that country:

  1. Iceland exports to Netherlands worth US$ 1,135 million, with a partner share of 25.50 percent.
  2. Iceland exports to United Kingdom worth US$ 503 million, with a partner share of 11.30 percent.
  3. Iceland exports to Spain worth US$ 462 million, with a partner share of 10.38 percent.
  4. Iceland exports to United States worth US$ 346 million, with a partner share of 7.78 percent.
  5. Iceland exports to Germany worth US$ 309 million, with a partner share of 6.94 percent.

Top five countries from which Iceland imported goods in 2016 are below, along with percent of total imports that came from the country :

  1. Iceland imports from Germany worth US$ 573 million, with a partner share of 10.05 percent.
  2. Iceland imports from United States worth US$ 573 million, with a partner share of 10.04 percent.
  3. Iceland imports from Norway worth US$ 512 million, with a partner share of 8.97 percent.
  4. Iceland imports from Netherlands worth US$ 426 million, with a partner share of 7.46 percent.
  5. Iceland imports from China worth US$ 419 million, with a partner share of 7.35 percent.

Iceland Top 5 Productsexports imports at HS 6 digit level 2016

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 1,130,250.17 (US$ Thousands).
  2. Iceland exported Frozen fish fillets , worth 433,380.26 (US$ Thousands).
  3. Iceland exported Fresh or chilled fish fillets , worth 388,122.56 (US$ Thousands).
  4. Iceland exported Wire,aluminium,not alloyed,with a max cross sec , worth 135,690.07 (US$ Thousands).
  5. Iceland exported Ferro-silicon, containing by weight more than 5 , worth 131,485.31 (US$ Thousands).

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 569,815.55 (US$ Thousands).
  2. Iceland imported Aluminium oxide, other than artificial corundum , worth 428,246.22 (US$ Thousands).
  3. Iceland imported Aircraft nes of an unladen weight exceeding 15, , worth 200,463.90 (US$ Thousands).
  4. Iceland imported Carbon or graphite electrodes, of a kind used f , worth 151,063.32 (US$ Thousands).
  5. Iceland imported Carbon or graphite electrodes,of a kind used fo , worth 143,136.02 (US$ Thousands).

Exports and Imports of Product Groups 2016

Exports and imports of products by stages of processing in 2016 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2016

Tariffs imposed by Iceland in 2016 are below

  • The maximum rate of tariff in percentage on any product was 2,228.75 percent.
  • The simple average tariff across all products was 1.71 percent.
  • The trade weighted average tariff was 1.47 .
  • The total duty free imports in thousands of US dollars were 5,185,023.75 and duty free tariff line items share was 88.52 percent.

Development Indicators 2016

Key Development Indicators of Iceland in 2016 are below

  • Iceland GDP in current US dollar was 20,793 million.
  • GNI per capita, Atlas method (current US$) was 54,910.00 .
  • Iceland Trade balance: as % of GDP was 6.64.
  • Trade balance in current US$ was 1,380.00 million.
  • Trade as percentage of GDP was 88.33 .
  • Trade in services as percentage of GDP was 41.35 .

Trade Indicators 2016

Trade Indicators for Iceland in 2016 are below

  • Hirschman Herfindahl market concentration index was 0.08.
  • Index of export market penetration was 3.07.
  • World Growth in percentage was -1.35 and Iceland Country Growth was -6.82 .