Iceland
Compare Iceland →IS · ISL · BACI 352 · latest data 2024
Exports
$7.5B USD, nominal · 2024
= $7,505 M25.4% over 5 yrs (up)
Imports
$10.0B USD, nominal · 2024
= $9,982 M45.0% over 5 yrs (up)
Trade balancedeficit
−$2.5B USD, nominal · 2024
= −$2,477 M
Total trade
$17.5B USD, nominal · 2024
= $17,486 M35.9% over 5 yrs (up)
- World position
- #115 of 225 exporters · bottom half · #113 of 225 importers · bottom half · 2024
- World export share since 1995
- −0.0 pp
Trade timeline
Iceland's exports grew from $2.0B in 1995 to $7.5B in 2024; the 2024 balance was −$2.5B.
Loading trade timeline…
View timeline table
| Year | Exports ($M) | Imports ($M) | Balance ($M) | Total ($M) |
|---|---|---|---|---|
| 1995 | $2,049 M | $1,900 M | $149 M | $3,949 M |
| 1996 | $2,249 M | $2,264 M | −$14 M | $4,513 M |
| 1997 | $2,152 M | $2,208 M | −$56 M | $4,361 M |
| 1998 | $2,244 M | $2,715 M | −$472 M | $4,959 M |
| 1999 | $2,300 M | $2,526 M | −$226 M | $4,826 M |
| 2000 | $2,346 M | $2,846 M | −$500 M | $5,193 M |
| 2001 | $2,494 M | $2,870 M | −$375 M | $5,364 M |
| 2002 | $2,654 M | $2,553 M | $101 M | $5,207 M |
| 2003 | $2,857 M | $3,153 M | −$295 M | $6,010 M |
| 2004 | $3,308 M | $4,114 M | −$806 M | $7,422 M |
| 2005 | $3,414 M | $5,431 M | −$2,017 M | $8,845 M |
| 2006 | $3,945 M | $6,547 M | −$2,602 M | $10,492 M |
| 2007 | $5,070 M | $7,347 M | −$2,277 M | $12,417 M |
| 2008 | $5,304 M | $6,533 M | −$1,229 M | $11,837 M |
| 2009 | $4,907 M | $4,028 M | $879 M | $8,935 M |
| 2010 | $5,568 M | $5,354 M | $213 M | $10,922 M |
| 2011 | $5,764 M | $6,711 M | −$947 M | $12,475 M |
| 2012 | $5,797 M | $5,849 M | −$52 M | $11,645 M |
| 2013 | $6,593 M | $5,493 M | $1,100 M | $12,087 M |
| 2014 | $6,714 M | $5,743 M | $970 M | $12,457 M |
| 2015 | $5,651 M | $6,023 M | −$371 M | $11,674 M |
| 2016 | $5,102 M | $6,701 M | −$1,599 M | $11,803 M |
| 2017 | $5,791 M | $7,621 M | −$1,830 M | $13,412 M |
| 2018 | $6,589 M | $8,006 M | −$1,417 M | $14,595 M |
| 2019 | $5,985 M | $6,886 M | −$900 M | $12,871 M |
| 2020 | $5,199 M | $5,815 M | −$617 M | $11,014 M |
| 2021 | $6,978 M | $8,101 M | −$1,123 M | $15,079 M |
| 2022 | $7,593 M | $9,824 M | −$2,231 M | $17,416 M |
| 2023 | $7,305 M | $9,853 M | −$2,548 M | $17,158 M |
| 2024 | $7,505 M | $9,982 M | −$2,477 M | $17,486 M |
30 rows
Trading partners
Netherlands was Iceland's top trading partner in 2024, at 12.7% of total trade; the top five partners covered 47.6%.
- Top partner share
- 12.7%
- Top-5 share
- 47.6%
- Partners
- 193
- Partner HHI (0–1)
- 0.061
Loading world basemap…
Netherlands $1.6B
United States $1.0B
United Kingdom $710M
Germany $638M
France $521M
Norway $436M
Poland $377M
Spain $302M
Denmark $164M
China $152M
Japan $127M
Sweden $66M
Italy $41M
Australia $31M
Brazil $13M
View partner table
| Rank | Partner | Exports to ($M) | Imports from ($M) | Total ($M) | Balance ($M) |
|---|---|---|---|---|---|
| #1 | Netherlands | $1,594 M | $634 M | $2,229 M | $960 M |
| #2 | United States | $1,049 M | $830 M | $1,879 M | $220 M |
| #3 | Norway | $436 M | $1,072 M | $1,508 M | −$636 M |
| #4 | Germany | $638 M | $794 M | $1,432 M | −$156 M |
| #5 | China | $152 M | $1,128 M | $1,280 M | −$976 M |
| #6 | United Kingdom | $710 M | $381 M | $1,091 M | $330 M |
| #7 | Denmark | $164 M | $688 M | $852 M | −$525 M |
| #8 | France | $521 M | $239 M | $760 M | $282 M |
| #9 | Poland | $377 M | $280 M | $658 M | $97 M |
| #10 | Spain | $302 M | $196 M | $497 M | $106 M |
| #11 | Sweden | $66 M | $414 M | $480 M | −$348 M |
| #12 | Brazil | $13 M | $293 M | $306 M | −$281 M |
| #13 | Italy | $41 M | $246 M | $287 M | −$206 M |
| #14 | Japan | $127 M | $122 M | $249 M | $5 M |
| #15 | Australia | $31 M | $213 M | $244 M | −$182 M |
15 rows
Products & sectors
Product composition of Iceland's trade in 2024.
Loading product detail for 2024 (large file, fetched on demand)…
View product table
The product table loads with the product data for 2024.
Concentration & risk
Iceland's export partners held steady over 1995–2024 — HHI 0.098 → 0.096, a diversified export base across 160 partners in 2024.
Loading concentration trends…
View concentration table
| Year | Export HHI | Import HHI | Export partners | Import partners |
|---|---|---|---|---|
| 1995 | 0.098 | 0.064 | 103 | 115 |
| 1996 | 0.086 | 0.071 | 111 | 118 |
| 1997 | 0.089 | 0.069 | 124 | 122 |
| 1998 | 0.096 | 0.062 | 121 | 126 |
| 1999 | 0.097 | 0.067 | 122 | 131 |
| 2000 | 0.090 | 0.061 | 135 | 129 |
| 2001 | 0.090 | 0.052 | 144 | 138 |
| 2002 | 0.092 | 0.054 | 149 | 129 |
| 2003 | 0.094 | 0.055 | 148 | 131 |
| 2004 | 0.098 | 0.057 | 156 | 137 |
| 2005 | 0.091 | 0.058 | 161 | 138 |
| 2006 | 0.086 | 0.062 | 166 | 141 |
| 2007 | 0.089 | 0.061 | 169 | 136 |
| 2008 | 0.099 | 0.058 | 171 | 138 |
| 2009 | 0.119 | 0.053 | 171 | 132 |
| 2010 | 0.137 | 0.051 | 172 | 141 |
| 2011 | 0.109 | 0.084 | 173 | 145 |
| 2012 | 0.104 | 0.070 | 166 | 141 |
| 2013 | 0.103 | 0.068 | 172 | 142 |
| 2014 | 0.094 | 0.064 | 172 | 145 |
| 2015 | 0.085 | 0.050 | 167 | 149 |
| 2016 | 0.087 | 0.058 | 175 | 161 |
| 2017 | 0.087 | 0.049 | 167 | 152 |
| 2018 | 0.091 | 0.057 | 178 | 155 |
| 2019 | 0.086 | 0.052 | 172 | 155 |
| 2020 | 0.094 | 0.052 | 167 | 161 |
| 2021 | 0.106 | 0.055 | 170 | 180 |
| 2022 | 0.110 | 0.054 | 167 | 169 |
| 2023 | 0.112 | 0.054 | 157 | 175 |
| 2024 | 0.096 | 0.056 | 160 | 183 |
30 rows
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