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

2020

Overall Exports and Imports

Exports
Exports (in US$ Mil) 4,580
No. Of products 1,587
No. Of partners 128
Imports
Imports (in US$ Mil) 5,697
No. Of products 4,089
No. Of partners 158

Trade Indicator

HH Market concentration index0.10
Index of export market penetration3.30
World Growth-3.91
Country Growth-7.34

Service Indicators 2020

Service imports (BoP, current US$)2,239,621,316.79
Service exports (BoP, current US$)2,784,498,395.94
Imports of goods and services (% of GDP)34.70
Exports of goods and services (% of GDP)34.10

Iceland top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
Netherlands931 20.33
Spain791 17.27
United Kingdom508 11.09
France369 8.06
United States348 7.60
Exporter Trade (US$ Mil) Partner share(%)
Germany512 8.98
Norway501 8.79
China481 8.44
Netherlands442 7.75
Denmark408 7.16

Iceland Exports and Imports of Product Groups

Product Categories Exports Imports
Export(US$ Mil) Product share(%) Import(US$ Mil) Prod share(%) Weighted Average (%)
Raw materials1,690 36.90 270 4.73 15.45
Intermediate goods2,184 47.67 1,115 19.57 0.24
Consumer goods428 9.34 2,748 48.24 2.31
Capital goods244 5.32 1,561 27.40 0.00

Top 5 Products exports imports at HS 6 digit level

Exports
Aluminium unwrought, ...1,193,467.48
Frozen fish fillets476,817.45
Fresh or chilled fis ...453,220.31
Aluminium unwrought, ...154,872.04
Fresh or chilled Pac ...141,157.68
Imports
Aluminium oxide, oth ...458,576.92
Petroleum oils, etc, ...338,308.17
Automobiles nes incl ...229,762.14
Other medicaments of ...160,653.70
Carbon or graphite e ...157,214.04

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)

2020 WDI »
Population353,574
GDP (current US$ Mil)21,715
GNI per capita, Atlas method (current US$)...
Trade Balance (current US$ Mil)-129.00
Trade Balance (% of GDP)-0.60

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