Annual International Trade Statistics by Country (HS)
Publication date: 2024-01-28
Reporting period: 2002 - 2022
Timeseries: 194 million
Source:TrendEconomy
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Iceland | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2007 - 2018

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2018
TOTAL. ALL COMMODITIESIcelandWorldExportsValue (US$)4,772,043,014.005,355,429,839.004,056,961,689.004,603,089,478.005,348,791,180.005,063,441,687.004,997,710,433.005,051,299,749.004,721,984,946.004,449,729,754.004,882,605,885.025,561,475,841.12
Value Growth, YoY (%)38.1912.22-24.2413.4616.20-5.33-1.291.07-6.51-5.769.7213.90
ImportsValue (US$)6,689,690,644.006,165,928,277.003,603,988,709.003,914,349,444.004,845,760,241.004,771,916,219.005,019,243,432.005,371,918,875.005,285,373,474.005,703,240,191.006,970,762,505.197,686,033,358.01
Value Growth, YoY (%)11.66-7.82-41.548.6123.79-1.525.187.02-1.617.9022.2210.26

The value of merchandise exports from Iceland totalled $ 5.56 billion in 2018. Merchandise exports from Iceland increased by 13.9% compared to 2017. Goods exports grew up by $ 678 million in 2018 (the value of merchandise exports from Iceland amounted to $4.88 billion in 2017)

Iceland's exports 2018 by country

Top export destinations of commodities from Iceland in 2018:

  • Netherlands with a share of 30% (1.68 billion US$)
  • United Kingdom with a share of 9.9% (551 million US$)
  • Spain with a share of 8.24% (458 million US$)
  • USA with a share of 6.9% (383 million US$)
  • France with a share of 6.43% (357 million US$)
  • Germany with a share of 6% (334 million US$)
  • Norway with a share of 5.43% (302 million US$)
  • China with a share of 2.59% (144 million US$)
  • Denmark with a share of 2.27% (126 million US$)
  • Canada with a share of 2.06% (115 million US$)

Exports structure from Iceland in 2018 represented by the following main commodity groups:

  • 40% (2.23 billion US$): 76 - Aluminum and articles thereof
  • 34% (1.91 billion US$): 03 - Fish and crustaceans, molluscs and other aquatic invertebrates
  • 3.87% (215 million US$): 23 - Residues and waste from the food industries; prepared animal feed
  • 3.6% (200 million US$): 72 - Iron and steel
  • 2.39% (133 million US$): 16 - Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates
  • 2.26% (125 million US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 2.24% (124 million US$): 90 - Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof
  • 2.01% (112 million US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 2.01% (111 million US$): 15 - Animal, vegetable or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes
  • 1.03% (57 million US$): 99 - Commodities not specified according to kind

What did Iceland export in 2018?

Iceland's Top Exports in 2018:

  • 31% ($1.75 billion): 7601 - Unwrought aluminium
  • 17.1% ($952 million): 0304 - Fish fillets and other fish meat (whether or not minced), fresh, chilled or frozen.
  • 6.85% ($381 million): 0303 - Fish, frozen, excluding fish fillets and other fish meat of heading 03.04.
  • 5.73% ($318 million): 0305 - Fish, dried, salted or in brine; smoked fish, whether or not cooked before, or during the smoking process
  • 3.77% ($209 million): 2301 - Flours, meals and pellets, of meat or meat offal, of fish or of crustaceans, molluscs or other aquatic invertebrates, unfit for human consumption; greaves.
  • 3.67% ($204 million): 0302 - Fish, fresh or chilled, excluding fish fillets and other fish meat of heading 0304
  • 3.39% ($189 million): 7604 - Aluminium bars, rods and profiles
  • 3.25% ($181 million): 7605 - Aluminium wire
  • 3.08% ($171 million): 7202 - Ferro-alloys.
  • 2.01% ($111 million): 2710 - Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils

The value of merchandise imports to Iceland totalled $ 7.68 billion in 2018. Merchandise imports to Iceland increased by 10.2% compared to 2017. Goods imports grew up by $ 715 million in 2018 (the value of merchandise imports to Iceland was equal to $6.97 billion in 2017)

Iceland's imports 2018 by country

Top trading partners (import sources) of Iceland in 2018:

  • Norway with a share of 11.4% (878 million US$)
  • China with a share of 8.85% (680 million US$)
  • Germany with a share of 8.74% (672 million US$)
  • USA with a share of 8.47% (651 million US$)
  • Netherlands with a share of 6.33% (487 million US$)
  • Denmark with a share of 6.27% (482 million US$)
  • United Kingdom with a share of 5.38% (413 million US$)
  • Australia with a share of 4.4% (338 million US$)
  • Sweden with a share of 4.32% (332 million US$)
  • Italy with a share of 2.93% (225 million US$)

Imports structure to Iceland in 2018 represented by the following main commodity groups:

  • 14.5% (1.12 billion US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 11.7% (906 million US$): 28 - Inorganic chemicals; organic or inorganic compounds of precious metals, of rare earth metals, of radioactive elements or of isotopes
  • 10.5% (813 million US$): 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 10.4% (805 million US$): 87 - Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
  • 9.95% (765 million US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 2.94% (226 million US$): 94 - Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, n.e.s.; illuminated signs, illuminated name-plates and the like; prefabricated buildings
  • 2.45% (188 million US$): 39 - Plastics and articles thereof
  • 2.43% (187 million US$): 88 - Aircraft, spacecraft, and parts thereof
  • 2.21% (169 million US$): 30 - Pharmaceutical products
  • 2.04% (156 million US$): 73 - Articles of iron or steel

What did Iceland import in 2018?

Iceland's Top Imports in 2018:

  • 13.8% ($1.06 billion): 2710 - Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils
  • 11% ($845 million): 2818 - Artificial corundum, whether or not chemically defined; aluminium oxide; aluminium hydroxide
  • 6.72% ($516 million): 8703 - Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars
  • 4.67% ($359 million): 8545 - Carbon electrodes, carbon brushes, lamp carbons, battery carbons and other articles of graphite or other carbon, with or without metal, of a kind used for electrical purposes
  • 2.47% ($189 million): 8471 - Automatic data processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, not elsewhere specified or included
  • 1.96% ($150 million): 3004 - Medicaments (excluding goods of heading 30.02, 30.05 or 30.06) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale
  • 1.64% ($126 million): 8802 - Other aircraft (for example, helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles
  • 1.54% ($118 million): 8517 - Electrical apparatus for line telephony or line telegraphy, including line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones
  • 1.33% ($102 million): 8704 - Motor vehicles for the transport of goods
  • 0.985% ($75 million): 9403 - Other furniture and parts thereof

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