Trade & investment · Europe & Central Asia · High income
Iceland: trade and investment
Exports is 40.1% (2025), 82nd of 184 in the world and 35th of 52 in Europe & Central Asia. Imports is 42.4% (2025), 98th of 184 in the world and 38th of 52 in Europe & Central Asia. Trade openness is 82.5% (2025), 92nd of 184 in the world and 36th of 52 in Europe & Central Asia.
13 indicators
Trade & investment: Iceland in detail
Latest reported value, world rank and rank within Europe & Central Asia; values around 2000, 2010, 2020; group and world columns are World Bank aggregates.
| Indicator | Latest | World rank | In region | ~2000 | ~2010 | ~2020 | 10-year change | Region | Income group | World | Since 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ExportsExports of goods and services, % of GDP | 40.1%2025 | 82/184 | 35/52 | 31.7% | 51.1% | 34.1% | −11.2 ppsince 2015 | 43.7% | 31.7% | 29.5% | |
| ImportsImports of goods and services, % of GDP | 42.4%2025 | 98/184 | 38/52 | 38.5% | 41.3% | 34.5% | −1.2 ppsince 2015 | 41.0% | 30.8% | 28.5% | |
| Trade opennessTrade, % of GDP | 82.5%2025 | 92/184 | 36/52 | 70.2% | 92.5% | 68.7% | −12.4 ppsince 2015 | 81.8% | 60.5% | 68.5% | |
| Current accountCurrent account balance, % of GDP | -3.9%2025 | 121/185 | 34/50 | -9.9% | -5.9% | 1.9% | −10.2 ppsince 2015 | — | — | — | |
| Merchandise exportsMerchandise exports, current US$ | $7.2bn2025 | 117/206 | 42/51 | $1.9bn | $4.6bn | $4.6bn | +51%since 2015 | $10.0tn | $17.5tn | $26.4tn | |
| High-tech exportsHigh-technology exports, % of manufactured exports | 54.0%2024 | 7/170 | 1/47 | · | 21.2% | 28.0% | +36.8 ppsince 2014 | 21.4% | 25.8% | 24.7% | |
| Fuel exportsFuel exports, % of merchandise exports | 1.5%2025 | 112/172 | 42/48 | 0.4% | 1.0% | 0.7% | −0.2 ppsince 2015 | 6.3% | 10.4% | 9.5% | |
| Food exportsFood exports, % of merchandise exports | 46.9%2025 | 32/172 | 4/48 | 65.2% | 41.4% | 50.8% | +1.9 ppsince 2015 | 10.6% | 8.8% | 9.0% | |
| Average tariffApplied tariff rate, weighted mean, all products | 1.6%2022 | 136/184 | 16/46 | 4.7% | 1.5% | 1.5%2021 | +0.2 ppsince 2012 | — | — | — | |
| FDI inflowsForeign direct investment, net inflows, % of GDP | -2.2%2025 | 189/197 | 47/51 | 1.7% | 1.8% | -4.0% | −8.6 ppsince 2015 | 1.0% | 1.5% | 1.4% | |
| RemittancesPersonal remittances received, % of GDP | 0.7%2025 | 133/178 | 35/50 | 0.4% | 1.0% | 0.8% | −0.5 ppsince 2015 | 0.8% | 0.3% | 0.8% | |
| Tourist arrivalsInternational tourist arrivals | 488,0002020 | 124/196 | 43/51 | 328,000 | 559,000 | 488,000 | −13%since 2010 | 1.2bn | 1.5bn | 2.4bn | |
| Tourism receiptsInternational tourism receipts, current US$ | $881m2008 | — | — | $386m | $881m2008 | · | +137%since 1998 | $590bn | $1.2tn | $1.9tn |
Source: World Bank, World Development Indicators (CC BY 4.0)“·” — no value reported within two years of that date. World rank counts countries with a recent value.
neighbours
Iceland and its neighbours
Countries sharing a land border with Iceland. Latest values since 2005; the highest in each row is marked.
| Indicator | Iceland | Greenland | Faroe Islands |
|---|---|---|---|
| Exports | 40.1%2025 | 40.8%2023 | 54.6%2024 |
| Imports | 42.4%2025 | 51.1%2023 | 51.2%2024 |
| Trade openness | 82.5%2025 | 91.9%2023 | 105.8%2024 |
| Current account | -3.9%2025 | — | 7.8%2011 |
| Merchandise exports | $7.2bn2025 | $1.0bn2025 | $2.1bn2025 |
| High-tech exports | 54.0%2024 | 1.7%2018 | 0.6%2009 |
| Fuel exports | 1.5%2025 | 0.0%2018 | 2.4%2025 |
| Food exports | 46.9%2025 | 92.3%2018 | 91.9%2025 |
| Average tariff | 1.6%2022 | — | — |