Bound rate, simple mean, primary products in Iceland
Iceland: Bound rate, simple mean, primary products was 22.6% in 2021. ▬ Flat
Bound rate, simple mean, primary products in Iceland, 1996–2021
Source: Staff estimates, World Bank (WB). Measured in %.
Analysis
In 2021, bound rate, simple mean, primary products in Iceland stood at 22.6%.
Compared with earlier readings it is down 66.8% over ten years.
Over the whole period, bound rate, simple mean, primary products in Iceland peaked at 68.1% in 2007 and was at its lowest, 22.3%, in 2015.
That places Iceland 93rd out of 157 countries with data for 2021, putting it in the middle of the range.
Bound rate, simple mean, primary products in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1996 | 23.9% | — |
| 1998 | 23.9% | +0.0% |
| 1999 | 23.9% | +0.0% |
| 2000 | 23.9% | +0.0% |
| 2001 | 23.9% | +0.0% |
| 2003 | 67.2% | +181.1% |
| 2004 | 67.2% | +0.0% |
| 2005 | 67.2% | +0.0% |
| 2006 | 67.2% | +0.0% |
| 2007 | 68.1% | +1.4% |
| 2008 | 68.1% | +0.0% |
| 2009 | 68.1% | +0.0% |
| 2010 | 68.1% | -0.0% |
| 2011 | 68.1% | +0.0% |
| 2012 | 67.1% | -1.4% |
| 2013 | 67.1% | +0.0% |
| 2014 | 67.1% | +0.0% |
| 2015 | 22.3% | -66.8% |
| 2016 | 22.3% | +0.0% |
| 2017 | 22.6% | +1.3% |
| 2019 | 22.6% | +0.0% |
| 2021 | 22.6% | +0.0% |
Iceland compared with similar countries
- Iceland's 22.6% is above the median for high income countries, which is 5.8%, 3.9× the median. (58 countries reporting)
- Iceland's 22.6% is above the median for Europe & Central Asia, which is 5.8%, 3.9× the median. (41 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 23.9% | 23.9% | 23.9% | 3 |
| 2000s | 57.9% | 23.9% | 68.1% | 9 |
| 2010s | 47.5% | 22.3% | 68.1% | 9 |
| 2020s | 22.6% | 22.6% | 22.6% | 1 |
Countries ranked near Iceland
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)
- Food exports 46.9% (2025)
- Manufactures exports 14.0% (2025)
- Merchandise exports 7.17 billion current US$ (2025)
- Merchandise exports (current US$), per capita 18,264 current US$ per person (2025)
- Merchandise exports (current US$), per unit of GDP 0.1858 current US$ per US$ of GDP (2025)
- Merchandise exports (current US$), annual growth rate 3.33 % change on previous year (2025)
Frequently asked questions
- What is bound rate, simple mean, primary products in Iceland?
- Bound rate, simple mean, primary products in Iceland was 22.6% in 2021, according to Staff estimates, World Bank (WB).
- What is the highest bound rate, simple mean, primary products recorded in Iceland?
- The highest recorded value was 68.1% in 2007.
- What is the lowest bound rate, simple mean, primary products recorded in Iceland?
- The lowest recorded value was 22.3% in 2015.
- How does Iceland rank for bound rate, simple mean, primary products?
- Iceland ranks 93rd out of 157 countries with data for 2021.
- Is bound rate, simple mean, primary products rising or falling in Iceland?
- Over the last ten years it is down 66.8%. The long-run trend across the full record is flat.
- Where does this Iceland data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Bound rate, simple mean, primary products (%). Statizoid updates them automatically from the source API.
Download this data
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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. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).