Iceland Trade Summary

2021 Data

Iceland exports, imports, tariff by year.

Country / 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

Overall Exports and Imports

Exportsmore »
Exports (in US$ Mil): 5,974
No. Of products: 1,772
No. Of partners: 138
Importsmore »
Imports (in US$ Mil): 7,838
No. Of products: 4,125
No. Of partners: 182

Top 5 Products exports imports at HS 6 digit level

Exports (US$ Thousands)  
Aluminium unwrought, ...1,718,578.75
Frozen fish fillets518,895.18
Fresh or chilled fis ...499,111.91
Aluminium unwrought, ...246,482.18
Wire,aluminium,not a ...208,634.73
Imports (US$ Thousands)
Aluminium oxide, oth ...592,877.91
Petroleum oils, etc, ...535,409.49
Automobiles nes incl ...444,143.37
Carbon or graphite e ...307,461.44
Other medicaments of ...195,352.59

Top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
Netherlands1,625 27.21
Spain706 11.81
United Kingdom572 9.58
France480 8.04
United States464 7.77
Exporter Trade (US$ Mil) Partner share(%)
Norway761 9.71
China695 8.87
Germany669 8.54
United States645 8.23
Denmark596 7.61

Exports and Imports of Product Groups

Product Categories Exports Imports
Export(US$ Mil) Product share(%) Import(US$ Mil) Prod share(%) Weighted Average (%)
Raw materials2,095 35.07 357 4.56 15.27
Intermediate goods3,011 50.40 1,449 18.48 0.22
Consumer goods511 8.56 3,632 46.34 2.20
Capital goods315 5.27 2,399 30.61 0.00

Trade Indicators

more »
HH Market concentration index: 0.13
Index of export market penetration: 3.44
World Growth: 12.50
Country Growth: 18.56

Tariffs

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No Of Tariff Agreement: 36
Maximum Rate (%): 2,203
Simple Average (%): 1.53
Weighted Average (%): 1.51
Duty Free Imports (US$ Thousand): 6,426,703.98
Duty Free Tariff Lines Share (%): 95.07

Development Indicators

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GDP (current US$): 25,553
GNI per capita, Atlas method (current US$): 63,140.00
Trade Balance (% of GDP): -2.04
Trade Balance (current US$ Mil): -522.00
Trade in services (% of GDP): 25.07
Trade (% of GDP): 76.79