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 (%) | 2011 - 2022

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2022
TOTAL. ALL COMMODITIESIcelandWorldExportsValue (US$)5,348,791,180.005,063,441,687.004,997,710,433.005,051,299,749.004,721,984,946.004,449,729,754.004,882,605,885.025,561,475,841.125,228,360,516.504,580,415,490.225,973,742,650.467,403,797,369.08
Value Growth, YoY (%)16.20-5.33-1.291.07-6.51-5.769.7213.90-5.98-12.3930.4123.93
ImportsValue (US$)4,845,760,241.004,771,916,219.005,019,243,432.005,371,918,875.005,285,373,474.005,703,240,191.006,970,762,505.197,686,033,358.016,579,003,950.045,696,680,364.447,838,072,416.619,643,942,506.15
Value Growth, YoY (%)23.79-1.525.187.02-1.617.9022.2210.26-14.40-13.4137.5923.03

The value of merchandise exports from Iceland totalled $ 7.4 billion in 2022. Merchandise exports from Iceland increased by 23% compared to 2021. Goods exports grew up by $ 1.43 billion in 2022 (the value of merchandise exports from Iceland amounted to $5.97 billion in 2021)

Iceland's exports 2022 by country

Top export destinations of commodities from Iceland in 2022:

  • Netherlands with a share of 37% (2.79 billion US$)
  • United Kingdom with a share of 8.98% (665 million US$)
  • USA with a share of 7.79% (577 million US$)
  • Germany with a share of 6.51% (482 million US$)
  • France with a share of 6.36% (471 million US$)
  • Norway with a share of 5.31% (393 million US$)
  • Spain with a share of 4.25% (314 million US$)
  • Denmark with a share of 2.56% (189 million US$)
  • Japan with a share of 2.18% (161 million US$)
  • China with a share of 2.13% (157 million US$)

Exports structure from Iceland in 2022 represented by the following main commodity groups:

  • 41% (3.06 billion US$): 76 - Aluminum and articles thereof
  • 31% (2.32 billion US$): 03 - Fish and crustaceans, molluscs and other aquatic invertebrates
  • 4.94% (366 million US$): 72 - Iron and steel
  • 3.87% (287 million US$): 23 - Residues and waste from the food industries; prepared animal feed
  • 3.12% (231 million US$): 15 - Animal, vegetable or microbial fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes
  • 2.52% (186 million US$): 90 - Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof
  • 2.31% (171 million US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 1.53% (113 million US$): 16 - Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates
  • 1.5% (111 million US$): 28 - Inorganic chemicals; organic or inorganic compounds of precious metals, of rare earth metals, of radioactive elements or of isotopes
  • 1.21% (90 million US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof

What did Iceland export in 2022?

Iceland's Top Exports in 2022:

  • 35% ($2.65 billion): 7601 - Unwrought aluminium
  • 15.5% ($1.15 billion): 0304 - Fish fillets and other fish meat (whether or not minced), fresh, chilled or frozen.
  • 6.29% ($466 million): 0302 - Fish, fresh or chilled, excluding fish fillets and other fish meat of heading 0304
  • 4.89% ($362 million): 0303 - Fish, frozen, excluding fish fillets and other fish meat of heading 03.04.
  • 4.64% ($343 million): 7202 - Ferro-alloys.
  • 4.15% ($307 million): 0305 - Fish, dried, salted or in brine; smoked fish, whether or not cooked before, or during the smoking process
  • 3.76% ($278 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.
  • 3.44% ($254 million): 7605 - Aluminium wire
  • 3.03% ($224 million): 1504 - Fats and oils and their fractions, of fish or marine mammals, whether or not refined, but not chemically modified
  • 2.31% ($171 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 $ 9.64 billion in 2022. Merchandise imports to Iceland increased by 23% compared to 2021. Goods imports grew up by $ 1.8 billion in 2022 (the value of merchandise imports to Iceland was equal to $7.83 billion in 2021)

Iceland's imports 2022 by country

Top trading partners (import sources) of Iceland in 2022:

  • Norway with a share of 12.3% (1.18 billion US$)
  • China with a share of 9.36% (903 million US$)
  • Germany with a share of 8.3% (800 million US$)
  • Netherlands with a share of 7.14% (689 million US$)
  • USA with a share of 6.33% (610 million US$)
  • Denmark with a share of 6.02% (580 million US$)
  • United Kingdom with a share of 3.85% (372 million US$)
  • Sweden with a share of 3.77% (364 million US$)
  • Australia with a share of 3.09% (298 million US$)
  • Brazil with a share of 3.06% (295 million US$)

Imports structure to Iceland in 2022 represented by the following main commodity groups:

  • 14.9% (1.43 billion US$): 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
  • 10.8% (1.04 billion US$): 87 - Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
  • 10.6% (1.02 billion US$): 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
  • 9.75% (940 million US$): 84 - Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof
  • 8.18% (788 million US$): 28 - Inorganic chemicals; organic or inorganic compounds of precious metals, of rare earth metals, of radioactive elements or of isotopes
  • 3.34% (322 million US$): 90 - Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof
  • 2.87% (277 million US$): 94 - Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, n.e.s.; illuminated signs, illuminated name-plates and the like; prefabricated buildings
  • 2.59% (250 million US$): 73 - Articles of iron or steel
  • 2.56% (247 million US$): 39 - Plastics and articles thereof
  • 2.42% (234 million US$): 30 - Pharmaceutical products

What did Iceland import in 2022?

Iceland's Top Imports in 2022:

  • 13.6% ($1.31 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
  • 7.64% ($737 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
  • 7.24% ($698 million): 2818 - Artificial corundum, whether or not chemically defined; aluminium oxide; aluminium hydroxide
  • 5.12% ($494 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
  • 3.01% ($290 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
  • 2.02% ($195 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
  • 1.46% ($141 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
  • 1.44% ($139 million): 9025 - Hydrometers and similar floating instruments, thermometers, pyrometers, barometers, hygrometers and psychrometers, recording or not, and any combination of these instruments
  • 1.43% ($138 million): 8802 - Other aircraft (for example, helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles
  • 1.41% ($136 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 (%) | 2011 - 2022