Iceland trade 22

Industrial property Agricultural products Transport Nonagricultural products Other commercial services Travel Merchandise trade Trade in commercial services

Trade Profiles 2022

GDP (million current US$, 2021) 25 459 Rank in world trade, 2021 Exports Imports GDP per capita (US$, 2019-2021) 65 967 Merchandise 112 114 Current account balance (% GDP, 2021) -2.8 excluding intra-EU trade 88 89 Trade per capita (US$, 2019-2021) 25 638 Commercial services 83 97 Trade (% GDP, 2019-2021) 38.9 excluding intra-EU trade 57 71 Value Million US$ 2021 5 987 7 817 2021 2021 0.03 0.03 Breakdown in economy's total exports Breakdown in economy's total imports Value Value Top exported products (Million US$) 2021 Top imported products (Million US$) 2021 HS2201 Waters, natural or artificial 26 HS2309 Preparations of a kind used in animal feeding 125 HS0204 Meat of sheep or goats, fresh 19 HS1905 Bread, pastry, other bakers' wares 45 HS0101 Live horses, asses, mules, hinnies 18 HS2106 Other food preparations 44 HS0511 Other animal products 13 HS2202 Waters containing added sugar 43 HS2106 Other food preparations 11 HS2204 Wine of fresh grapes 38 Share in economy's trade in agricultural products Value Million US$ 2021 2010-2021 2020 2021 Exports 159 6 -1 45 Imports 790 7 5 16 Value Value Top exported products (Million US$) 2021 Top imported products (Million US$) 2021 HS7601 Unwrought aluminium 1 965 HS2818 Artificial corundum 593 HS0304 Fish fillets and other fish meat 1 080 HS8703 Motor cars for transport of persons 550 HS0302 Fish, fresh, chilled 438 HS2710 Petroleum oils, other than crude 535 HS0303 Fish, frozen, excluding fish fillet 433 HS8545 Articles of graphite/other carbon 328 HS0305 Fish, dried, salted or in brine 298 HS8471 Automatic data-processing machines 322 Share in economy's trade in non-agricultural products Value Million US$ 2021 2010-2021 2020 2021 Exports 5 785 2 -12 30 Imports 7 048 6 -15 41 By main commodity group, % (2020) By main destination, % (2021) By main origin, % (2021) Annual percentage change Annual percentage change

Merchandise exports, f.o.b. 2 -12 31 Merchandise imports, c.i.f. Annual percentage change 2010-2021 2020 2021 6 -13 37 Share in world total imports (%) By main commodity group, % (2020) Share in world total exports (%) 0% 20% 40% HS7601 HS0304 HS0302 HS0303 HS0305 Exports 0% 5% 10% HS2818 HS8703 HS2710 HS8545 HS8471 Imports 0% 10% 20% HS2309 HS1905 HS2106 HS2202 HS2204 Imports 0% 10% 20% HS2201 HS0204 HS0101 HS0511 HS2106 Exports Agricultural products: 51 Fuels and mining products: 36.6 Manufactures: 11.3 Other: 1.2 Agricultural products: 14.4 Fuels and mining products: 16.6 Manufactures: 68.5 Other: 0.6 European Union: 65.7 United Kingdom: 9.6 United States of America: 7.8 Norway: 3.2 China: 2.2 Other: 11.5 European Union: 47.7 Norway: 9.7 China: 8.9 United States of America: 8.2 United Kingdom: 5.7 Other: 19.8

168 World Trade Organization – Trade Profiles 2022

Iceland

Value Million US$ 2021 3 686 2 932 2021 2021 0.06 0.05 Breakdown in economy's total exports Breakdown in economy's total imports Value FATS sales 2021 Inward (million US$) na Outward (million US$) na Value Million US$ 2021 Exports 926 Imports 594 Exports Value Imports Value Share (%) By sea (2021) 203 By sea (2021) 359 60.5 By air (2021) 675 By air (2021) 154 26.0 By other (2021) 34 By other (2021) 73 12.2 Value Million US$ 2021 Exports 1 319 Imports 750 Million US$ Value 2021 Other commercial services Exports 1 385 Imports 1 502 2021 Goods-related services Exports 56 Imports 87 Residents Total Residents Total Residents Total 44 3 47 625 3 247 3 872 7 128 135 Travel exports (Index 2010=100) na -23 2020 Travel 2021 2010-2021 Transport exports (Index 2010=100) 37 1 -34 32 Annual percentage change Share (%) 21.9 72.9 3.7 na na -37 na na na 2010-2021 2020 2021 Annual percentage change By main services item, % (2021) By main origin, % (2020) -51 33 3 2010-2021 2020 29 Commercial services exports Commercial services imports 2 2021

By main services item, % (2021) By main destination, % (2020) Share in world total exports (%) Share in world total imports (%) Annual percentage change Transport Annual percentage change 2010-2021 2020 2021 -2 -58 8 2 -76 106 -65 43 INDUSTRIAL PROPERTY -4 -47 3 24 -4 5 Non-residents Non-residents Non-residents Other Commercial Services and Goods-related Services 2020 8 -2 Annual percentage change 2010-2021 2021 2010-2021 2020 2021 31 -17 5 Exports of OCS by main item (2021) Patent applications, 2020 Trademark applications, 2020 Industrial design applications, 2020 0 100 200 300 400 500 600 2010 2014 2018 2021 Iceland World 0 100 200 2010 2014 2018 2021 Iceland World Transport: 25.1 Travel: 35.8 Other commercial services: 37.6 Goods-related services: 1.5 Transport: 20.2 Travel: 25.6 Other commercial services: 51.2 Goods-related services: 3 European Union: 42.4 United States of America: 20.3 United Kingdom: 12.9 Norway: 3.4 Switzerland: 2.9 Other: 18.1 European Union: 52.9 United States of America: 13.8 United Kingdom: 11.9 Norway: 5.1 Switzerland: 3.1 Other: 13.2 33.8 28.2 22.4 15.6 Other business services ICTs Intellectual property Other Iceland 169 World Trade Organization – Trade Profiles 2022