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Iceland Trade Summary

2017

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 2017

Overall Exports and Imports for Iceland 2017

Exports and imports of Iceland in 2017 are below, along with number of countries and products

  • The total value of exports (FoB) was 4,883 million.
  • The total value of imports (CIF) was 6,971 million.
  • At the HS6 digit level, 1,403 products were exported to 129 countries and 4,013 products were imported from 147 countries.

Iceland top 5 Export and Import partners 2017

Top five countries to which Iceland exported in 2017 are below, along with the percent of total exports that went to that country:

  1. Iceland exports to Netherlands worth US$ 1,238 million, with a partner share of 25.36 percent.
  2. Iceland exports to Spain worth US$ 655 million, with a partner share of 13.41 percent.
  3. Iceland exports to United Kingdom worth US$ 457 million, with a partner share of 9.35 percent.
  4. Iceland exports to Germany worth US$ 370 million, with a partner share of 7.59 percent.
  5. Iceland exports to United States worth US$ 341 million, with a partner share of 6.98 percent.

Top five countries from which Iceland imported goods in 2017 are below, along with percent of total imports that came from the country :

  1. Iceland imports from Germany worth US$ 738 million, with a partner share of 10.59 percent.
  2. Iceland imports from Norway worth US$ 635 million, with a partner share of 9.10 percent.
  3. Iceland imports from China worth US$ 483 million, with a partner share of 6.93 percent.
  4. Iceland imports from Netherlands worth US$ 463 million, with a partner share of 6.64 percent.
  5. Iceland imports from United States worth US$ 445 million, with a partner share of 6.38 percent.

Iceland Top 5 Productsexports imports at HS 6 digit level 2017

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 1,506,005.59 (US$ Thousands).
  2. Iceland exported Frozen fish fillets , worth 406,382.10 (US$ Thousands).
  3. Iceland exported Fresh or chilled fish fillets , worth 378,137.58 (US$ Thousands).
  4. Iceland exported Flours, meals and pellets of fish, etc, unfit f , worth 168,273.28 (US$ Thousands).
  5. Iceland exported Bars, rods and other profiles, aluminium alloye , worth 153,759.59 (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 735,145.38 (US$ Thousands).
  2. Iceland imported Aluminium oxide, other than artificial corundum , worth 600,738.46 (US$ Thousands).
  3. Iceland imported Automobiles with diesel engine displacing more , worth 220,610.63 (US$ Thousands).
  4. Iceland imported Fishing vessels and factory ships , worth 207,225.12 (US$ Thousands).
  5. Iceland imported Carbon or graphite electrodes, of a kind used f , worth 157,219.07 (US$ Thousands).

Exports and Imports of Product Groups 2017

Exports and imports of products by stages of processing in 2017 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2017

Tariffs imposed by Iceland in 2017 are below

  • The maximum rate of tariff in percentage on any product was 2,133.13 percent.
  • The simple average tariff across all products was 1.29 percent.
  • The trade weighted average tariff was 1.57 .
  • The total duty free imports in thousands of US dollars were 5,692,864.38 and duty free tariff line items share was 94.56 percent.

Development Indicators 2017

Key Development Indicators of Iceland in 2017 are below

  • Iceland GDP in current US dollar was 24,728 million.
  • GNI per capita, Atlas method (current US$) was 60,230.00 .
  • Iceland Trade balance: as % of GDP was 4.49.
  • Trade balance in current US$ was 1,109.00 million.
  • Trade as percentage of GDP was 86.98 .
  • Trade in services as percentage of GDP was 40.65 .

Trade Indicators 2017

Trade Indicators for Iceland in 2017 are below

  • Hirschman Herfindahl market concentration index was 0.09.
  • Index of export market penetration was 3.11.
  • World Growth in percentage was 5.56 and Iceland Country Growth was 7.51 .