Iceland world map

Trade in Iceland

Iceland was the world’s 111th largest exporter of goods and 79th largest exporter of commercial services in 2022. Export values were $7.39 billion and $5.48 billion USD respectively. Iceland’s top export category was Fuels and mining products, followed by Agricultural products, and Manufactures. In 2022, Iceland’s main export destination markets for goods and services trade were to Netherlands, Spain and United Kingdom, with trade representing 93.57 per cent of GDP. In terms of imports, Iceland is the world’s 117th largest importer of goods and 89th largest importer of commercial services. Import values were $9.59 billion and $4.08 billion USD respectively in 2022. Iceland’s top import category was Manufactures, followed by Machinery and transport equipment and Fuels and mining products. Leading import partners were Germany, Norway and China. Iceland is part of 35 different Regional Trade Agreements, including EFTA – Accession of Iceland and EFTA – Albania.
Regional Trade Agreements Database

General Information

This section includes general information on the economy, legal system, official languages and links to additional demographic information.

Official Name

Republic of Iceland





WTO Membership Date

1 January 1995

Legal System

civil law system influenced by the Danish model



Number of Time Zone(s)


Additional Information

Financial Information

This section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance.


Icelandic króna

Exchange Rate

Google Finance Currencies

Contact Information

This section includes contact information for business support organizations and national resources.

Business Support Organizations

Government MSME Agency

  • Icelandic Research Council


Copyright Offices

  • Ministry of Culture and Business Affairs

SPS Enquiry Points

Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements.
  • The Food and Veterinary Authority - MAST
    SPS Contact Point: Mr Viktor Pálsson, Director, Legal Affairs; [email protected]
    Phone: +(354) 530 4800

    Austurvegur 64

    [email protected]

TBT Enquiry Points

Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements.
  • Ministry for Foreign Affairs

    External Trade Department

    Contact person: Mrs. Bryndis Kjartansdóttir

    Phone: + (354) 560 99 00

    Raudaràrstig 25


    [email protected]
  • For technical regulations: Institute for Accreditation, Legal Metrology, Market Surveillance, Metrology and Electrical Safety

    Phone: +(354) 510 11 00

    Borgartuni 21


  • For standards: The Icelandic Standardization Council
    Phone: +(354) 520 71 50


Additional Information

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Links to other helpful resources

This section includes additional links to trade-related resources.

National Tariff Finder

Additional Link

National Tariff Finder

Last Reviewed: June, 2024

Businesses & Entrepreneurs

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Policymakers & Researchers

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