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
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) 5,561
No. Of products 1,507
No. Of partners 139
Imports (in US$ Mil) 7,686
No. Of products 3,993
No. Of partners 150

Trade Indicator

HH Market concentration index0.08
Index of export market penetration3.23
World Growth3.50
Country Growth7.45

Service Indicators 2018

Service imports (BoP, current US$)4,279,316,706.60
Service exports (BoP, current US$)6,571,551,101.20
Imports of goods and services (% of GDP)44.13
Exports of goods and services (% of GDP)47.22

Iceland top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
Netherlands1,681 30.22
United Kingdom551 9.91
Spain459 8.25
United States384 6.90
France358 6.43
Exporter Trade (US$ Mil) Partner share(%)
Norway879 11.43
China680 8.85
Germany672 8.75
United States652 8.48
Netherlands487 6.34

Iceland Exports and Imports of Product Groups

Product Categories Exports Imports
Export(US$ Mil) Product share(%) Import(US$ Mil) Prod share(%) Weighted Average (%)
Raw materials1,698 30.53 349 4.54 15.93
Intermediate goods2,922 52.54 1,610 20.95 0.66
Consumer goods583 10.48 3,646 47.43 1.96
Capital goods301 5.41 2,080 27.06 0.00

Top 5 Products exports imports at HS 6 digit level

Aluminium unwrought, ...1,592,807.56
Frozen fish fillets466,062.23
Fresh or chilled fis ...442,390.94
Flours, meals and pe ...209,822.31
Bars, rods and other ...184,468.85
Petroleum oils, etc, ...1,064,530.44
Aluminium oxide, oth ...845,962.56
Carbon or graphite e ...252,151.96
Automobiles nes incl ...174,733.35
Other medicaments of ...143,564.97

Tariff and Trade Barriers for Iceland

Tariffs 2017

No. Of Tariff Agreement 32
Simple Average (%) 1.29
Duty Free Imports (US$ Thousand) 5,692,864.38
Maximum Rate (%) 2,133.13
Weighted Average (%) 1.57
Duty Free Tariff Lines Share (%) 94.56

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)

2018 WDI »
GDP (current US$ Mil)25,878
GNI per capita, Atlas method (current US$)67,960.00
Trade Balance (current US$ Mil)799.00
Trade Balance (% of GDP)3.09

Doing Business

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

Country Policy and Institutional Assessment (CPIA)

CPIA Trade Ratings...

Logistics Performance Index (LPI)

2016 LPI »
LPI Score3.35
LPI Rank39