Iceland
Europe
Trade in Iceland
| Iceland was the world’s 119th largest exporter of goods and 82nd largest exporter of commercial services in 2025. Export values were $7202 and $6889 million USD respectively. Iceland’s top export category was agricultural products, followed by fuels and mining products, and manufactures. In 2023, Iceland’s main export destination markets for goods and services trade were to Netherlands, United States and United Kingdom, with trade representing 86.18 per cent of GDP. In terms of imports, Iceland is the world’s 113rd largest importer of goods and 91st largest importer of commercial services. Import values were $10975 and $5003 million USD respectively in 2025. Iceland’s top import category was manufactures, followed by fuels and mining products and agricultural products. Leading import partners were Norway, Germany and China. Iceland is part of 39 different Regional Trade Agreements, including with EFTA – Accession of Iceland, EFTA – Albania and EFTA – Bosnia and Herzegovina. |
Regional Trade Agreements Database
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: October, 2026
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