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Iceland: Trade Statistics

Exporter Rank

89 / 127

Importer Rank

90 / 127

Trade Balance Rank

69 / 127

Total Trade [1]

Total Exports (2019) $5,228,360,516
Total Imports (2019) $6,579,003,950
Trade Balance (2019) ($1,350,643,434)
Exports of goods and services (% of GDP) (2020) [2] 34.24%
Imports of goods and services (% of GDP) (2020) [2] 34.97%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
Netherlands $1,373,893,052
United Kingdom $543,630,840
Spain $495,357,615
United States $380,482,439
France $370,054,184
Germany $309,285,848
Canada $225,302,992
Norway $201,970,832
China $129,814,062
Denmark $121,857,486

Import Partners

Top 10 Import Countries

Country Import USD$
Norway $744,766,033
United States $561,375,359
Germany $546,009,053
China $485,664,372
Netherlands $456,038,352
Denmark $434,385,642
United Kingdom $415,112,468
Sweden $281,842,533
Australia $203,754,400
Poland $196,266,311

Traded Goods [1] (at the 2-digit HS Code level)

Top 10 Export Goods

HS Code Export USD$
(03) Seafood $2,030,585,649
(76) Aluminum $1,801,652,956
(88) Aircraft $155,574,642
(72) Iron & Steel $143,512,738
(84) Industrial Machinery $137,408,331
(23) Animal Feeds $132,920,468
(90) Precision Instruments $121,280,647
(16) Prepared Meats $118,358,523
(15) Fats & Oils $90,300,631
(27) Oil & Mineral Fuels $83,317,431

Top 10 Import Goods

HS Code Import USD$
(27) Oil & Mineral Fuels $793,802,803
(85) Electrical Machinery $720,257,976
(84) Industrial Machinery $716,100,501
(28) Inorganic Chemicals $667,742,642
(87) Motor Vehicles & Parts $534,050,551
(94) Furniture $202,904,936
(39) Plastics $176,804,491
(89) Ships & Boats $160,318,954
(73) Iron & Steel Articles $160,138,686
(30) Pharmaceuticals $159,316,114

Sources:

  1. UN Comtrade (2019) except where stated otherwise.
  2. The World Bank. Accessed: 1/21/2022
Iceland