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Iceland: Trade Statistics

Exporter Rank

94 / 146

Importer Rank

100 / 145

Trade Balance Rank

73 / 145

Total Trade [1]

Total Exports (2016) $4,449,729,754
Total Imports (2016) $5,703,240,191
Trade Balance (2016) ($1,253,510,437)
Exports of goods and services (% of GDP) (2017) [2] 46.96%
Imports of goods and services (% of GDP) (2017) [2] 42.85%

Trade Partners [1]

Export Partners

Top 10 Export Countries

Country Export USD$
Netherlands $1,134,779,130
United Kingdom $502,851,761
Spain $461,909,465
United States $346,319,134
Germany $308,693,929
France $296,442,848
Norway $189,465,293
Denmark $107,212,156
Belgium $101,879,199
Japan $99,550,667

Import Partners

Top 10 Import Countries

Country Import USD$
Germany $572,926,825
United States $572,845,767
Norway $511,838,194
Netherlands $425,741,270
China $419,223,668
Denmark $348,913,775
United Kingdom $339,542,560
Sweden $221,669,496
Italy $176,850,217
France $161,381,404

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

Top 10 Export Goods

HS Code Export USD$
(03) Seafood $1,678,693,921
(76) Aluminum $1,589,009,590
(72) Iron & Steel $142,261,257
(23) Animal Feeds $131,317,292
(90) Precision Instruments $122,628,144
(16) Prepared Meats $114,901,695
(84) Industrial Machinery $107,887,448
(15) Fats & Oils $99,274,255
(30) Pharmaceuticals $70,475,844
(27) Oil & Mineral Fuels $58,236,707

Top 10 Import Goods

HS Code Import USD$
(85) Electrical Machinery $652,666,901
(87) Motor Vehicles & Parts $642,034,760
(27) Oil & Mineral Fuels $607,392,436
(84) Industrial Machinery $579,798,768
(28) Inorganic Chemicals $477,873,944
(88) Aircraft $260,174,155
(30) Pharmaceuticals $161,716,597
(39) Plastics $150,104,480
(94) Furniture $139,256,438
(73) Iron & Steel Articles $138,015,857

Sources:

  1. UN Comtrade (2016) except where stated otherwise.
  2. The World Bank. Accessed: 9/22/2018
Iceland