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Iceland Trade Summary

2019

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 2019

Overall Exports and Imports for Iceland 2019

Exports and imports of Iceland in 2019 are below, along with number of countries and products

  • The total value of exports (FoB) was 5,228 million.
  • The total value of imports (CIF) was 6,579 million.
  • At the HS6 digit level, 1,453 products were exported to 133 countries and 3,990 products were imported from 152 countries.

Iceland top 5 Export and Import partners 2019

Top five countries to which Iceland exported in 2019 are below, along with the percent of total exports that went to that country:

  1. Iceland exports to Netherlands worth US$ 1,374 million, with a partner share of 26.28 percent.
  2. Iceland exports to United Kingdom worth US$ 544 million, with a partner share of 10.40 percent.
  3. Iceland exports to Spain worth US$ 495 million, with a partner share of 9.47 percent.
  4. Iceland exports to United States worth US$ 380 million, with a partner share of 7.28 percent.
  5. Iceland exports to France worth US$ 370 million, with a partner share of 7.08 percent.

Top five countries from which Iceland imported goods in 2019 are below, along with percent of total imports that came from the country :

  1. Iceland imports from Norway worth US$ 745 million, with a partner share of 11.32 percent.
  2. Iceland imports from United States worth US$ 561 million, with a partner share of 8.53 percent.
  3. Iceland imports from Germany worth US$ 546 million, with a partner share of 8.30 percent.
  4. Iceland imports from China worth US$ 486 million, with a partner share of 7.38 percent.
  5. Iceland imports from Netherlands worth US$ 456 million, with a partner share of 6.93 percent.

Iceland Top 5 Productsexports imports at HS 6 digit level 2019

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 1,313,301.41 (US$ Thousands).
  2. Iceland exported Frozen fish fillets , worth 508,146.23 (US$ Thousands).
  3. Iceland exported Fresh or chilled fish fillets , worth 472,974.20 (US$ Thousands).
  4. Iceland exported Wire,aluminium,not alloyed,with a max cross sec , worth 154,426.00 (US$ Thousands).
  5. Iceland exported Aircraft nes of an unladen weight exceeding 15, , worth 150,715.68 (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 751,312.04 (US$ Thousands).
  2. Iceland imported Aluminium oxide, other than artificial corundum , worth 609,112.16 (US$ Thousands).
  3. Iceland imported Carbon or graphite electrodes, of a kind used f , worth 218,917.47 (US$ Thousands).
  4. Iceland imported Automobiles nes including gas turbine powered , worth 143,453.46 (US$ Thousands).
  5. Iceland imported Other medicaments of mixed or unmixed products, , worth 135,415.58 (US$ Thousands).

Exports and Imports of Product Groups 2019

Exports and imports of products by stages of processing in 2019 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2019

Tariffs imposed by Iceland in 2019 are below

  • The maximum rate of tariff in percentage on any product was 2,276.97 percent.
  • The simple average tariff across all products was 1.17 percent.
  • The trade weighted average tariff was 1.53 .
  • The total duty free imports in thousands of US dollars were 5,369,112.34 and duty free tariff line items share was 96.01 percent.

Development Indicators 2019

Key Development Indicators of Iceland in 2019 are below

  • Iceland GDP in current US dollar was 24,664 million.
  • GNI per capita, Atlas method (current US$) was 72,980.00 .
  • Iceland Trade balance: as % of GDP was 4.50.
  • Trade balance in current US$ was 1,109.00 million.
  • Trade as percentage of GDP was 82.85 .
  • Trade in services as percentage of GDP was 36.08 .

Trade Indicators 2019

Trade Indicators for Iceland in 2019 are below

  • Hirschman Herfindahl market concentration index was 0.09.
  • Index of export market penetration was 3.25.
  • World Growth in percentage was -1.34 and Iceland Country Growth was -6.40 .