Iceland Trade

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
Year
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.

TRADE SUMMARY FOR Iceland

2019

Overall Exports and Imports

Exports
Exports (in US$ Mil) 5,228
No. Of products 1,453
No. Of partners 133
Imports
Imports (in US$ Mil) 6,579
No. Of products 3,990
No. Of partners 152

Trade Indicator

HH Market concentration index0.09
Index of export market penetration3.21
World Growth-1.13
Country Growth-7.11

Service Indicators 2019

Service imports (BoP, current US$)3,566,393,312.00
Service exports (BoP, current US$)5,675,320,804.00
Imports of goods and services (% of GDP)40.60
Exports of goods and services (% of GDP)45.32

Iceland top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
Netherlands1,374 26.28
United Kingdom544 10.40
Spain495 9.47
United States380 7.28
France370 7.08
Exporter Trade (US$ Mil) Partner share(%)
Norway745 11.32
United States561 8.53
Germany546 8.30
China486 7.38
Netherlands456 6.93

Iceland Exports and Imports of Product Groups

Product Categories Exports Imports
Export(US$ Mil) Product share(%) Import(US$ Mil) Prod share(%) Weighted Average (%)
Raw materials1,791 34.25 312 4.75 15.45
Intermediate goods2,376 45.45 1,344 20.43 0.24
Consumer goods490 9.38 3,036 46.15 2.31
Capital goods524 10.03 1,885 28.64 0.00

Top 5 Products exports imports at HS 6 digit level

Exports
Aluminium unwrought, ...1,313,301.41
Frozen fish fillets508,146.23
Fresh or chilled fis ...472,974.20
Wire,aluminium,not a ...154,426.00
Aircraft nes of an u ...150,715.68
Imports
Petroleum oils, etc, ...751,312.04
Aluminium oxide, oth ...609,112.16
Carbon or graphite e ...218,917.47
Automobiles nes incl ...143,453.46
Other medicaments of ...135,415.58

Tariff and Trade Barriers for Iceland

Tariffs 2019

No. Of Tariff Agreement 33
Simple Average (%) 1.17
Duty Free Imports (US$ Thousand) 5,369,112.34
Maximum Rate (%) 2,276.97
Weighted Average (%) 1.53
Duty Free Tariff Lines Share (%) 96.01

Overall Trade Restrictiveness Index (OTRI) 2009

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

Services Service Policy Restrictive Database (SPRD)

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)

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

World Development Indicators (WDI)

2019 WDI »
Population353,574
GDP (current US$ Mil)24,188
GNI per capita, Atlas method (current US$)73,000.00
Trade Balance (current US$ Mil)1,142.00
Trade Balance (% of GDP)4.72

Doing Business

2019 Doing Business »
Ease of Doing Business Rank26
Trading Across Borders Rank53

Country Policy and Institutional Assessment (CPIA)

CPIA »
CPIA Trade Ratings...

Logistics Performance Index (LPI)

2016 LPI »
LPI Score3.35
LPI Rank39