Imports to Iceland dropped 18.5 percent year-on-year to ISK 52.4 billion in December 2019, mainly due to lower purchases of industrial supplies (-23.8 percent) and fuels (-24.7 percent). Imports in Iceland averaged 14871.37 ISK Million from 1960 until 2019, reaching an all time high of 74470.20 ISK Million in June of 2019 and a record low of 1.21 ISK Million in January of 1960.

Imports in Iceland is expected to be 60200.00 ISK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Iceland to stand at 73600.00 in 12 months time. In the long-term, the Iceland Imports is projected to trend around 74400.00 ISK Million in 2020, according to our econometric models.

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Iceland Imports

Actual Previous Highest Lowest Dates Unit Frequency
52400.00 56452.30 74470.20 1.21 1960 - 2019 ISK Million Monthly
Current Prices, NSA

Iceland Imports
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); and food and beverages (8 percent). 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).

Iceland Trade Last Previous Highest Lowest Unit
Balance of Trade -8300.00 -4367.40 24138.40 -28451.50 ISK Million [+]
Current Account 63.04 15.01 99.98 -137.24 ISK Billion [+]
Current Account to GDP 2.80 3.30 7.50 -23.00 percent [+]
Imports 52400.00 56452.30 74470.20 1.21 ISK Million [+]
Exports 44100.00 52084.88 76557.87 0.78 ISK Million [+]
External Debt 2408.15 2331.41 15748.53 280.59 ISK Billion [+]
Capital Flows 114.33 28.61 414.27 -418.16 ISK Billion [+]
Gold Reserves 1.98 1.98 2.00 1.84 Tonnes [+]
Terrorism Index 0.03 0.06 1.22 0.00 [+]
Tourist Arrivals 131054.00 163093.00 291344.00 10592.00 [+]
Remittances 1747.00 1526.00 2448.00 18.00 ISK Million [+]
Foreign Direct Investment 8.41 1.38 199.98 -553.03 ISK Billion [+]


United Nations Comtrade Database
Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category