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

Trade Indicator

HH Market concentration index0.13
Index of export market penetration3.42
World Growth12.59
Country Growth18.60

Service Indicators 2021

Service imports (BoP, current US$)2,901,250,262.83
Service exports (BoP, current US$)3,504,606,921.43
Imports of goods and services (% of GDP)39.42
Exports of goods and services (% of GDP)37.37

Iceland 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

Iceland 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

Top 5 Products exports imports at HS 6 digit level

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
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

Tariff and Trade Barriers for Iceland

Tariffs 2021

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

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)

2021 WDI »
GDP (current US$ Mil)25,553
GNI per capita, Atlas method (current US$)63,140.00
Trade Balance (current US$ Mil)-522.00
Trade Balance (% of GDP)-2.04

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