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Iceland: Trade Statistics

Exporter Rank

83 / 119

Importer Rank

86 / 119

Trade Balance Rank

59 / 119

Total Trade [1]

Total Exports (2018) $5,717,722,443
Total Imports (2018) $7,865,031,119
Trade Balance (2018) ($2,147,308,676)
Exports of goods and services (% of GDP) (2018) [2] 47.22%
Imports of goods and services (% of GDP) (2018) [2] 44.13%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
Netherlands $1,728,026,610
United Kingdom $565,026,790
Spain $471,600,764
United States $394,619,749
France $367,715,800
Germany $343,499,714
Norway $309,451,376
China $148,532,512
Denmark $129,774,814
Canada $118,286,948

Import Partners

Top 10 Import Countries

Country Import USD$
Norway $903,023,800
China $696,018,473
Germany $687,032,224
United States $663,538,623
Netherlands $497,929,065
Denmark $495,142,799
United Kingdom $419,334,052
Australia $347,745,496
Sweden $339,964,553
Italy $232,123,292

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

Top 10 Export Goods

HS Code Export USD$
(76) Aluminum $2,296,854,245
(03) Seafood $1,966,585,348
(23) Animal Feeds $221,347,809
(72) Iron & Steel $206,709,114
(16) Prepared Meats $136,857,004
(84) Industrial Machinery $129,397,698
(90) Precision Instruments $128,099,135
(27) Oil & Mineral Fuels $115,146,957
(15) Fats & Oils $114,956,124
(99) Items nesoi $59,156,467

Top 10 Import Goods

HS Code Import USD$
(27) Oil & Mineral Fuels $1,152,350,932
(28) Inorganic Chemicals $931,646,539
(85) Electrical Machinery $835,736,695
(87) Motor Vehicles & Parts $826,424,099
(84) Industrial Machinery $786,442,341
(94) Furniture $232,037,133
(88) Aircraft $191,884,655
(39) Plastics $190,554,909
(30) Pharmaceuticals $174,689,189
(73) Iron & Steel Articles $161,142,627

Sources:

  1. UN Comtrade (2018) except where stated otherwise.
  2. The World Bank. Accessed: 6/3/2020
Iceland