Iceland Trade at a Glance : Most Recent Values

Latest trade data available from various sources.

Please note: The data from various sources are not from the same year.
Iceland monthly trade data
Iceland quarterly trade data

Country / Region
For viewing trade, tariff data for country or region by year click here.
Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.



Overall Exports and Imports

Exports (in US$ Mil) 4,450
No. Of products 1,673
No. Of partners 141
Imports (in US$ Mil) 5,703
No. Of products 4,055
No. Of partners 163

Trade Indicator

HH Market concentration index0.08
Index of export market penetration2.57
World Growth-4.43
Country Growth-8.90

Service Indicators 2016

Service imports (BoP, current US$)3,233,862,437.20
Service exports (BoP, current US$)5,409,321,134.80
Imports of goods and services (% of GDP)42.55
Exports of goods and services (% of GDP)49.10

Iceland top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
Netherlands1,135 25.50
United Kingdom503 11.30
Spain462 10.38
United States346 7.78
Germany309 6.94
Exporter Trade (US$ Mil) Partner share(%)
Germany573 10.05
United States573 10.04
Norway512 8.97
Netherlands426 7.46
China419 7.35

Iceland Exports and Imports of Product Groups

Product Categories Exports Imports
Export(US$ Mil) Product share(%) Import(US$ Mil) Prod share(%) Weighted Average (%)
Raw materials1,495 33.60 284 4.98 16.29
Intermediate goods2,138 48.05 1,086 19.04 0.73
Consumer goods516 11.60 2,590 45.42 1.62
Capital goods257 5.78 1,741 30.52 0.08

Top 5 Products exports imports at HS 6 digit level

Aluminium unwrought, ...1,130,250.17
Frozen fish fillets433,380.26
Fresh or chilled fis ...388,122.56
Wire,aluminium,not a ...135,690.07
Ferro-silicon, conta ...131,485.31
Petroleum oils, etc, ...569,815.55
Aluminium oxide, oth ...428,246.22
Aircraft nes of an u ...200,463.90
Carbon or graphite e ...151,063.32
Carbon or graphite e ...143,136.02

Tariff and Trade Barriers for Iceland

Tariffs 2016

No. Of Tariff Agreement 32
Simple Average (%) 1.71
Duty Free Imports (US$ Thousand) 5,185,023.75
Maximum Rate (%) 2,228.75
Weighted Average (%) 1.47
Duty Free Tariff Lines Share (%) 88.52

Overall Trade Restrictiveness Index (OTRI) 2009

Overall Trade Restrictiveness Index - MFN Tariff (2009)0.06
Overall Trade Restrictiveness Index - Applied Tariff (2009)0.04

Services Service Policy Restrictive Database (SPRD)

Services Trade Restrictions Index - Over All...

Non-Tariff Measures (NTM)

No Of NTM Measures...
No Of NTM Affected Products (HS 6 Digit)...

Temporary Trade Barriers Database (TTDB)

Temporary Trade Barriers in Effect - Simple Average...
Temporary Trade Barriers in Effect - Weighted Average...

World Development Indicators (WDI)

2016 WDI »
GDP (current US$ Mil)20,047
GNI per capita, Atlas method (current US$)56,990.00
Trade Balance (current US$ Mil)1,315.00
Trade Balance (% of GDP)6.56

Doing Business

2018 Doing Business »
Ease of Doing Business Rank23
Trading Across Borders Rank69

Country Policy and Institutional Assessment (CPIA)

CPIA Trade Ratings...

Logistics Performance Index (LPI)

2016 LPI »
LPI Score3.35
LPI Rank39