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Iceland Trade Summary

2020

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 2020

Overall Exports and Imports for Iceland 2020

Exports and imports of Iceland in 2020 are below, along with number of countries and products

  • The total value of exports (FoB) was 4,580 million.
  • The total value of imports (CIF) was 5,697 million.
  • At the HS6 digit level, 1,587 products were exported to 128 countries and 4,089 products were imported from 158 countries.

Iceland top 5 Export and Import partners 2020

Top five countries to which Iceland exported in 2020 are below, along with the percent of total exports that went to that country:

  1. Iceland exports to Netherlands worth US$ 931 million, with a partner share of 20.33 percent.
  2. Iceland exports to Spain worth US$ 791 million, with a partner share of 17.27 percent.
  3. Iceland exports to United Kingdom worth US$ 508 million, with a partner share of 11.09 percent.
  4. Iceland exports to France worth US$ 369 million, with a partner share of 8.06 percent.
  5. Iceland exports to United States worth US$ 348 million, with a partner share of 7.60 percent.

Top five countries from which Iceland imported goods in 2020 are below, along with percent of total imports that came from the country :

  1. Iceland imports from Germany worth US$ 512 million, with a partner share of 8.98 percent.
  2. Iceland imports from Norway worth US$ 501 million, with a partner share of 8.79 percent.
  3. Iceland imports from China worth US$ 481 million, with a partner share of 8.44 percent.
  4. Iceland imports from Netherlands worth US$ 442 million, with a partner share of 7.75 percent.
  5. Iceland imports from Denmark worth US$ 408 million, with a partner share of 7.16 percent.

Iceland Top 5 Productsexports imports at HS 6 digit level 2020

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$ 1,193,467.48 million.
  2. Iceland exported Frozen fish fillets , worth US$ 476,817.45 million.
  3. Iceland exported Fresh or chilled fish fillets , worth US$ 453,220.31 million.
  4. Iceland exported Aluminium unwrought, alloyed , worth US$ 154,872.04 million.
  5. Iceland exported Fresh or chilled Pacific, Atlantic and Danube s , worth US$ 141,157.68 million.

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

  1. Iceland imported Aluminium oxide, other than artificial corundum , worth US$ 458,576.92 million.
  2. Iceland imported Petroleum oils, etc, (excl. crude); preparation , worth US$ 338,308.17 million.
  3. Iceland imported Automobiles nes including gas turbine powered , worth US$ 229,762.14 million.
  4. Iceland imported Other medicaments of mixed or unmixed products, , worth US$ 160,653.70 million.
  5. Iceland imported Carbon or graphite electrodes, of a kind used f , worth US$ 157,214.04 million.

Exports and Imports of Product Groups 2020

Exports and imports of products by stages of processing in 2020 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2020

Tariffs imposed by Iceland in 2020 are below

  • The maximum rate of tariff in percentage on any product was not available percent.
  • The simple average tariff across all products was not available percent.
  • The trade weighted average tariff was not available .
  • The total duty free imports in thousands of US dollars were not available and duty free tariff line items share was not available percent.

Development Indicators 2020

Key Development Indicators of Iceland in 2020 are below

  • Iceland GDP in current US dollar was 21,553 million.
  • GNI per capita, Atlas method (current US$) was 62,110.00 .
  • Iceland Trade balance: as % of GDP was -1.56.
  • Trade balance in current US$ was -336.00 million.
  • Trade as percentage of GDP was 68.02 .
  • Trade in services as percentage of GDP was 21.83 .

Trade Indicators 2020

Trade Indicators for Iceland in 2020 are below

  • Hirschman Herfindahl market concentration index was 0.10.
  • Index of export market penetration was 3.33.
  • World Growth in percentage was -3.75 and Iceland Country Growth was -7.33 .