Annual International Trade Statistics by Country (HS)
Publication date: 2022-11-14
Reporting period: 2002 - 2021
Timeseries: 194 million
Source:TrendEconomy
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Iceland | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2010 - 2021

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TOTAL. ALL COMMODITIESIcelandWorldExportsValue (US$)4,603,089,478.005,348,791,180.005,063,441,687.004,997,710,433.005,051,299,749.004,721,984,946.004,449,729,754.004,882,605,885.005,561,475,841.005,228,360,516.004,580,415,490.225,973,742,650.46
Value Growth, YoY (%)13.4616.20-5.33-1.291.07-6.51-5.769.7213.90-5.98-12.3930.41
ImportsValue (US$)3,914,349,444.004,845,760,241.004,771,916,219.005,019,243,432.005,371,918,875.005,285,373,474.005,703,240,191.006,970,762,505.007,686,033,358.006,579,003,950.005,696,680,364.447,838,072,416.61
Value Growth, YoY (%)8.6123.79-1.525.187.02-1.617.9022.2210.26-14.40-13.4137.59

The value of merchandise exports from Iceland totalled $ 5.97 billion in 2021. Merchandise exports from Iceland increased by 30% compared to 2020. Goods exports grew up by $ 1.39 billion in 2021 (the value of merchandise exports from Iceland amounted to $4.58 billion in 2020)

Iceland's exports 2021 by country

Top export destinations of commodities from Iceland in 2021:

  • Netherlands with a share of 27% (1.62 billion US$)
  • Spain with a share of 11.8% (705 million US$)
  • United Kingdom with a share of 9.57% (572 million US$)
  • France with a share of 8.03% (479 million US$)
  • USA with a share of 7.76% (463 million US$)
  • Germany with a share of 6.03% (360 million US$)
  • Norway with a share of 3.24% (194 million US$)
  • Denmark with a share of 2.44% (146 million US$)
  • China with a share of 2.16% (129 million US$)
  • Poland with a share of 2.06% (123 million US$)

Exports structure from Iceland in 2021 represented by the following main commodity groups:

  • 39% (2.33 billion US$): 76 - Aluminum and articles thereof
  • 38% (2.28 billion US$): 03 - Fish and crustaceans, molluscs and other aquatic invertebrates
  • 3.52% (210 million US$): 72 - Iron and steel
  • 2.31% (138 million US$): 23 - Residues and waste from the food industries; prepared animal feed
  • 2.11% (126 million US$): 90 - Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof
  • 1.95% (116 million US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 1.83% (109 million US$): 15 - Animal, vegetable or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes
  • 1.82% (109 million US$): 16 - Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates
  • 1.14% (68 million US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 1.13% (67 million US$): 28 - Inorganic chemicals; organic or inorganic compounds of precious metals, of rare earth metals, of radioactive elements or of isotopes

What did Iceland export in 2021?

Iceland's Top Exports in 2021:

  • 32% ($1.96 billion): 7601 - Unwrought aluminium
  • 18% ($1.07 billion): 0304 - Fish fillets and other fish meat (whether or not minced), fresh, chilled or frozen.
  • 7.33% ($438 million): 0302 - Fish, fresh or chilled, excluding fish fillets and other fish meat of heading 0304
  • 7.24% ($432 million): 0303 - Fish, frozen, excluding fish fillets and other fish meat of heading 03.04.
  • 4.99% ($298 million): 0305 - Fish, dried, salted or in brine; smoked fish, whether or not cooked before, or during the smoking process
  • 3.49% ($208 million): 7605 - Aluminium wire
  • 3.16% ($189 million): 7202 - Ferro-alloys.
  • 2.19% ($131 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.
  • 1.68% ($100 million): 1504 - Fats and oils and their fractions, of fish or marine mammals, whether or not refined, but not chemically modified
  • 1.38% ($82 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 $ 7.83 billion in 2021. Merchandise imports to Iceland increased by 37% compared to 2020. Goods imports grew up by $ 2.14 billion in 2021 (the value of merchandise imports to Iceland was equal to $5.69 billion in 2020)

Iceland's imports 2021 by country

Top trading partners (import sources) of Iceland in 2021:

  • Norway with a share of 9.7% (760 million US$)
  • China with a share of 8.86% (694 million US$)
  • Germany with a share of 8.54% (669 million US$)
  • USA with a share of 8.23% (645 million US$)
  • Denmark with a share of 7.6% (596 million US$)
  • Netherlands with a share of 6.71% (526 million US$)
  • United Kingdom with a share of 5.67% (444 million US$)
  • Brazil with a share of 4.91% (385 million US$)
  • Sweden with a share of 4.31% (338 million US$)
  • Italy with a share of 2.88% (225 million US$)

Imports structure to Iceland in 2021 represented by the following main commodity groups:

  • 11% (868 million US$): 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 10.9% (859 million US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 10.1% (794 million US$): 87 - Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
  • 8.32% (652 million US$): 28 - Inorganic chemicals; organic or inorganic compounds of precious metals, of rare earth metals, of radioactive elements or of isotopes
  • 7.55% (591 million US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 3.26% (255 million US$): 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
  • 3.05% (239 million US$): 30 - Pharmaceutical products
  • 2.97% (232 million US$): 89 - Ships, boats and floating structures
  • 2.89% (226 million US$): 39 - Plastics and articles thereof
  • 2.71% (212 million US$): 90 - Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof

What did Iceland import in 2021?

Iceland's Top Imports in 2021:

  • 7.56% ($592 million): 2818 - Artificial corundum, whether or not chemically defined; aluminium oxide; aluminium hydroxide
  • 7.01% ($550 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
  • 6.83% ($535 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
  • 4.17% ($327 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
  • 3.91% ($306 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
  • 2.62% ($205 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
  • 2.37% ($186 million): 8902 - Fishing vessels; factory ships and other vessels for processing or preserving fishery products
  • 1.81% ($142 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
  • 1.79% ($141 million): 8802 - Other aircraft (for example, helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles
  • 1.59% ($124 million): 2309 - Preparations of a kind used in animal feeding.

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Iceland | Imports and Exports | World | ALL COMMODITIES | Value (US$) and Value Growth, YoY (%) | 2010 - 2021