Bound rate, simple mean, all products (%) in Iceland
Iceland: Bound rate, simple mean, all products (%) was 13.8% in 2021. ▲ Rising
Bound rate, simple mean, all products in Iceland, 1996–2021
Source: Staff estimates, World Bank (WB). Measured in %.
Analysis
In 2021, bound rate, simple mean, all products in Iceland stood at 13.8%.
The figure is down 43.1% over ten years.
Over the whole period, bound rate, simple mean, all products in Iceland peaked at 25.8% in 2012 and was at its lowest, 13.5%, in 1996.
Iceland ranks 104th of 157 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 22 years of available data.
Bound rate, simple mean, all products (%) in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1996 | 13.5% | — |
| 1998 | 13.5% | +0.0% |
| 1999 | 13.5% | +0.0% |
| 2000 | 13.5% | +0.0% |
| 2001 | 13.5% | +0.0% |
| 2003 | 24.0% | +77.6% |
| 2004 | 24.0% | +0.0% |
| 2005 | 24.0% | +0.0% |
| 2006 | 24.0% | +0.0% |
| 2007 | 24.3% | +1.5% |
| 2008 | 24.3% | +0.0% |
| 2009 | 24.3% | +0.0% |
| 2010 | 24.3% | +0.0% |
| 2011 | 24.3% | +0.0% |
| 2012 | 25.8% | +6.1% |
| 2013 | 25.8% | +0.0% |
| 2014 | 25.8% | +0.0% |
| 2015 | 13.8% | -46.7% |
| 2016 | 13.8% | +0.0% |
| 2017 | 13.8% | +0.7% |
| 2019 | 13.8% | +0.0% |
| 2021 | 13.8% | +0.0% |
Iceland compared with similar countries
- Iceland's 13.8% is above the median for high income countries, which is 4.4%, 3.2× the median. (58 countries reporting)
- Iceland's 13.8% is above the median for Europe & Central Asia, which is 4.4%, 3.2× the median. (41 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 13.5% | 13.5% | 13.5% | 3 |
| 2000s | 21.8% | 13.5% | 24.3% | 9 |
| 2010s | 20.1% | 13.8% | 25.8% | 9 |
| 2020s | 13.8% | 13.8% | 13.8% | 1 |
Countries ranked near Iceland
- 101 United Arab Emirates 14.7% compare
- 102 Malaysia 14.5% compare
- 103 Oman 14.1% compare
- 105 Vietnam 11.4% compare
- 106 Cote d'Ivoire 11.2% compare
- 107 Saudi Arabia 10.7% compare
More private sector data for Iceland
- Merchandise trade 46.9% (2025)
- Food imports 11.1% (2025)
- Manufactures imports 71.1% (2025)
- Merchandise imports 10.94 billion current US$ (2025)
- Commercial service imports 5.94 billion current US$ (2025)
- Food exports 46.9% (2025)
- Manufactures exports 14.0% (2025)
- Merchandise exports 7.17 billion current US$ (2025)
- Commercial service exports 8.21 billion current US$ (2025)
- Merchandise exports (current US$), per capita 18,264 current US$ per person (2025)
Frequently asked questions
- What is bound rate, simple mean, all products in Iceland?
- Bound rate, simple mean, all products in Iceland was 13.8% in 2021, according to Staff estimates, World Bank (WB).
- What is the highest bound rate, simple mean, all products recorded in Iceland?
- The highest recorded value was 25.8% in 2012.
- What is the lowest bound rate, simple mean, all products recorded in Iceland?
- The lowest recorded value was 13.5% in 1996.
- How does Iceland rank for bound rate, simple mean, all products?
- Iceland ranks 104th out of 157 countries with data for 2021.
- Is bound rate, simple mean, all products rising or falling in Iceland?
- Over the last ten years it is down 43.1%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Bound rate, simple mean, all products (%). Statizoid updates them automatically from the source API.
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About this data
Simple mean bound rate is the unweighted average of all the lines in the tariff schedule in which bound rates have been set. Bound rates result from trade negotiations incorporated into a country's schedule of concessions and are thus enforceable.