The top import categories (2-digit HS) in 2019 were: fish and seafood (fish fillets) ($247 million), optical and medical instruments ($75 million), beverages (mineral waters) ($31 million), special other (returns) ($29 million), and machinery ($16 million).

Does Iceland import or export more?

Iceland, Imports of goods and services as percentage of GDP is 40.60 %. Iceland, Exports of goods and services as percentage of GDP is 45.32 %.

Who are Iceland’s major trade partners?

Iceland

• The EU makes up 53% of Iceland’s total trade in goods, followed by the United Kingdom (8.1%), the United States (8%), Norway (7.9%), and China (5.2%).
• The EU enjoyed a small trade surplus of € 190 million in 2019.
• 60% of Icelandic exports go to the EU.

What is Iceland’s main source of income?

Tourism, aluminum smelting, and fishing are the pillars of the economy. For decades the Icelandic economy depended heavily on fisheries, but tourism has now surpassed fishing and aluminum as Iceland’s main export industry.

What kind of goods does Iceland import and export?

In 2017, Iceland’s main imports were: processed industrial supplies (26 percent of total imports); capital goods (21 percent); transport equipment (19 percent), of which passenger cars (9 percent); consumer goods (13 percent), of which semi- (5 percent) and non-durable goods (5 percent); fuels and lubricants (11 percent);

Who are the major import partners of Iceland?

Iceland’s major import partners were: Germany (11 percent of total imports); Norway (9 percent); China and the Netherlands (7 percent each); the US, Denmark and the UK (6 percent each); and Sweden (4 percent). This page provides – Iceland Imports – actual values, historical data, forecast, chart, statistics, economic calendar and news.

When was the last time Iceland imported food?

Iceland Imports Imports in Iceland decreased to 57039.60 ISK Million in August from 71457 ISK Million in July of 2019. Imports in Iceland averaged 14614.83 ISK Million from 1960 until 2019, reaching an all time high of 74566 ISK Million in June of 2019 and a record low of 1.21 ISK Million in January of 1960.

How much fish does Iceland Export per year?

Exports of fish fillets account for 14.6% of Iceland’s total annual exports, including processed fish (4.39%), non-fillet frozen fish (5.92%), and non-fillet fresh fish exports (3.25%) combine to almost $2 billion of its shipments of fish produce. Shipments of ferroalloys contribute 3.01% of Iceland’s export total.