Iceland
Europe
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. |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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Official Name |
Republic of Iceland |
Abbreviation |
IS |
Capital |
Reykjavik |
WTO Membership Date |
1 January 1995 |
Legal System |
civil law system influenced by the Danish model |
Language |
Icelandic |
Number of Time Zone(s) |
1 |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
Icelandic króna |
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Exchange Rate |
Google Finance Currencies |
Contact InformationThis section includes contact information for business support organizations and national resources. |
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Business Support Organizations |
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Government MSME Agency |
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Copyright Offices |
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SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
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TBT Enquiry Points Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements. |
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Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
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National Tariff Finder |
https://www.skatturinn.is/english/companies/customs-matters/customs-tariff/ |
Additional Link |
National Tariff Finder |
Last Reviewed: June, 2024
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