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Iceland: Trade Statistics

Exporter Rank

84 / 121

Importer Rank

85 / 121

Trade Balance Rank

68 / 121

Total Trade [1]

Total Exports (2017) $4,882,605,885
Total Imports (2017) $6,970,762,505
Trade Balance (2017) ($2,088,156,620)
Exports of goods and services (% of GDP) (2018) [2] 47.21%
Imports of goods and services (% of GDP) (2018) [2] 44.12%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
Netherlands $1,238,323,675
Spain $654,554,799
United Kingdom $456,653,207
Germany $370,387,054
United States $340,753,140
France $306,125,947
Norway $252,454,716
Denmark $114,991,474
China $96,537,468
Japan $94,045,401

Import Partners

Top 10 Import Countries

Country Import USD$
Germany $738,235,005
Norway $634,544,256
China $483,220,208
Netherlands $463,101,623
United States $444,960,805
Denmark $428,634,595
United Kingdom $405,292,328
Sweden $282,728,101
Brazil $236,383,458
Australia $233,114,392

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

Top 10 Export Goods

HS Code Export USD$
(76) Aluminum $2,005,242,697
(03) Seafood $1,634,316,496
(23) Animal Feeds $173,081,632
(72) Iron & Steel $145,001,267
(90) Precision Instruments $142,388,206
(89) Ships & Boats $115,104,803
(16) Prepared Meats $104,115,190
(84) Industrial Machinery $102,770,896
(15) Fats & Oils $96,760,158
(27) Oil & Mineral Fuels $57,657,946

Top 10 Import Goods

HS Code Import USD$
(87) Motor Vehicles & Parts $919,495,255
(27) Oil & Mineral Fuels $777,672,029
(85) Electrical Machinery $774,016,038
(84) Industrial Machinery $681,499,305
(28) Inorganic Chemicals $650,577,701
(89) Ships & Boats $227,274,310
(73) Iron & Steel Articles $211,281,756
(94) Furniture $209,588,779
(39) Plastics $173,666,583
(30) Pharmaceuticals $150,851,744

Sources:

  1. UN Comtrade (2017) except where stated otherwise.
  2. The World Bank. Accessed: 9/30/2019
Iceland