Annual International Trade Statistics by Country (HS02)
Publication date: 2021-11-14
Reporting period: 2002 - 2020
Timeseries: 177 million
Source:UN Comtrade
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Iceland | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2009 - 2020

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2020
TOTAL. ALL COMMODITIESIcelandWorldExportsValue (US$)4,056,961,689.004,603,089,478.005,348,791,180.005,063,441,687.004,997,710,433.005,051,299,749.004,721,984,946.004,449,729,754.004,882,605,885.005,561,475,841.005,228,360,516.004,580,415,490.00
Value Growth, YoY (%)-24.2413.4616.20-5.33-1.291.07-6.51-5.769.7213.90-5.98-12.39
ImportsValue (US$)3,603,988,709.003,914,349,444.004,845,760,241.004,771,916,219.005,019,243,432.005,371,918,875.005,285,373,474.005,703,240,191.006,970,762,505.007,686,033,358.006,579,003,950.005,696,680,364.00
Value Growth, YoY (%)-41.548.6123.79-1.525.187.02-1.617.9022.2210.26-14.40-13.41

The value of merchandise exports from Iceland totalled $ 4.58 billion in 2020. Overall commodity exports from Iceland decreased by 12.3% compared to 2019. Merchandise exports decreased by $ 647 million (the value of merchandise exports from Iceland amounted to $5.22 billion in 2019)

Iceland's exports 2020 by country

Top export destinations of commodities from Iceland in 2020:

  • Netherlands with a share of 20% (931 million US$)
  • Spain with a share of 17.2% (791 million US$)
  • United Kingdom with a share of 11% (507 million US$)
  • France with a share of 8.06% (369 million US$)
  • USA with a share of 7.6% (348 million US$)
  • Germany with a share of 5.49% (251 million US$)
  • Norway with a share of 4.18% (191 million US$)
  • Denmark with a share of 2.76% (126 million US$)
  • Poland with a share of 2.53% (116 million US$)
  • Portugal with a share of 2.22% (102 million US$)

Exports structure from Iceland in 2020 represented by the following main commodity groups:

  • 41% (1.89 billion US$): 03 - Fish and crustaceans, molluscs and other aquatic invertebrates
  • 35% (1.6 billion US$): 76 - Aluminum and articles thereof
  • 3.11% (142 million US$): 72 - Iron and steel
  • 3.07% (140 million US$): 23 - Residues and waste from the food industries; prepared animal feed
  • 2.46% (113 million US$): 16 - Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates
  • 2.29% (105 million US$): 15 - Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes
  • 2.28% (104 million US$): 90 - Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof
  • 2.28% (104 million US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 0.768% (35 million US$): 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 0.719% (32 million US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes

What did Iceland export in 2020?

Iceland's Top Exports in 2020:

  • 29% ($1.34 billion): 7601 - Unwrought aluminium.
  • 21% ($982 million): 0304 - Fish fillets and other fish meat (whether or not minced), fresh, chilled or frozen.
  • 7.22% ($330 million): 0302 - Fish, fresh or chilled, excluding fish fillets and other fish meat of heading 03.04.
  • 6.32% ($289 million): 0305 - Fish, dried, salted or in brine; smoked fish, whether or not cooked before or during the smoking process; flours, meals and pellets of fish, fit for human consumption.
  • 5.84% ($267 million): 0303 - Fish, frozen, excluding fish fillets and other fish meat of heading 03.04.
  • 2.94% ($134 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.
  • 2.82% ($129 million): 7605 - Aluminium wire.
  • 2.67% ($122 million): 7202 - Ferro-alloys.
  • 2.1% ($96 million): 1504 - Fats and oils and their fractions, of fish or marine mammals, whether or not refined, but not chemically modified.
  • 1.54% ($70 million): 7607 - Aluminium foil (whether or not printed or backed with paper, paperboard, plastics or similar backing materials) of a thickness (excluding any backing) not exceeding 0.2 mm.

The value of merchandise imports to Iceland totalled $ 5.69 billion in 2020. Overall commodity imports to Iceland decreased by 13.4% compared to 2019. Merchandise imports decreased by $ 882 million (the value of merchandise imports to Iceland was equal to $6.57 billion in 2019)

Iceland's imports 2020 by country

Top trading partners (import sources) of Iceland in 2020:

  • Germany with a share of 8.98% (511 million US$)
  • Norway with a share of 8.78% (500 million US$)
  • China with a share of 8.43% (480 million US$)
  • Netherlands with a share of 7.75% (441 million US$)
  • Denmark with a share of 7.15% (407 million US$)
  • USA with a share of 6.72% (383 million US$)
  • United Kingdom with a share of 6.45% (367 million US$)
  • Sweden with a share of 4.76% (271 million US$)
  • Brazil with a share of 4.57% (260 million US$)
  • Italy with a share of 3.2% (182 million US$)

Imports structure to Iceland in 2020 represented by the following main commodity groups:

  • 11.4% (653 million US$): 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 10.6% (607 million US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 9.37% (533 million US$): 87 - Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
  • 8.89% (506 million US$): 28 - Inorganic chemicals; organic or inorganic compounds of precious metals, of rare earth metals, of radioactive elements or of isotopes
  • 6.67% (380 million US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 3.56% (203 million US$): 94 - Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings
  • 3.28% (187 million US$): 30 - Pharmaceutical products
  • 2.98% (169 million US$): 39 - Plastics and articles thereof
  • 2.47% (140 million US$): 73 - Articles of iron or steel
  • 2.45% (139 million US$): 90 - Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof

What did Iceland import in 2020?

Iceland's Top Imports in 2020:

  • 8.04% ($458 million): 2818 - Artificial corundum, whether or not chemically defined; aluminium oxide; aluminium hydroxide.
  • 5.95% ($339 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.
  • 5.93% ($338 million): 2710 - Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations; waste oils.
  • 5.08% ($289 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.
  • 3.1% ($177 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.
  • 2.99% ($170 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.
  • 1.91% ($108 million): 2309 - Preparations of a kind used in animal feeding.
  • 1.54% ($88 million): 8525 - Transmission apparatus for radio-telephony, radio-telegraphy, radio-broadcasting or television, whether or not incorporating reception apparatus or sound recording or reproducing apparatus; television cameras; still image video cameras and other video camera recorders; digital cameras.
  • 1.38% ($79 million): 3822 - Diagnostic or laboratory reagents on a backing, prepared diagnostic or laboratory reagents whether or not on a backing, other than those of heading 30.02 or 30.06; certified reference materials.
  • 1.3% ($74 million): 9403 - Other furniture and parts thereof.

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Iceland | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2009 - 2020