Merchandise exports to low- and middle-income economies outside region in Iceland
Iceland: Merchandise exports to low- and middle-income economies outside region was 4.0% in 2023. ◆ Volatile
Merchandise exports to low- and middle-income economies outside region in Iceland, 1960–2023
Source: Staff estimates, World Bank (WB). Measured in % of total merchandise exports.
Analysis
Iceland recorded 4.0% for merchandise exports to low- and middle-income economies outside region in 2023.
That represents a change of up 9.4% on the previous year and down 2.6% over ten years.
Over the whole period, merchandise exports to low- and middle-income economies outside region in Iceland peaked at 14.9% in 1981 and was at its lowest, 0.6%, in 1985.
Iceland ranks 150th of 206 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Merchandise exports to low- and middle-income economies outside region in Iceland, year by year
| Year | % of total merchandise exports | Change |
|---|---|---|
| 1960 | 3.2% | — |
| 1961 | 7.5% | +135.4% |
| 1962 | 5.6% | -26.0% |
| 1963 | 5.6% | +0.4% |
| 1964 | 6.3% | +13.2% |
| 1965 | 5.8% | -9.4% |
| 1966 | 5.2% | -10.2% |
| 1967 | 4.7% | -9.4% |
| 1968 | 3.5% | -25.7% |
| 1969 | 6.1% | +75.8% |
| 1970 | 1.7% | -72.3% |
| 1971 | 1.7% | +0.5% |
| 1972 | 3.0% | +77.1% |
| 1973 | 1.8% | -39.2% |
| 1974 | 1.5% | -18.7% |
| 1975 | 6.5% | +333.3% |
| 1976 | 2.5% | -61.8% |
| 1977 | 6.0% | +142.6% |
| 1978 | 10.4% | +74.3% |
| 1979 | 2.2% | -78.8% |
| 1980 | 8.9% | +300.5% |
| 1981 | 14.9% | +67.5% |
| 1982 | 5.0% | -66.7% |
| 1983 | 6.7% | +34.5% |
| 1984 | 0.8% | -87.4% |
| 1985 | 0.6% | -31.7% |
| 1986 | 2.3% | +299.0% |
| 1987 | 1.9% | -18.8% |
| 1988 | 1.7% | -8.4% |
| 1989 | 1.9% | +9.0% |
| 1990 | 1.0% | -47.2% |
| 1991 | 1.5% | +55.3% |
| 1992 | 2.2% | +43.0% |
| 1993 | 1.3% | -42.2% |
| 1994 | 1.1% | -14.1% |
| 1995 | 1.2% | +6.7% |
| 1996 | 1.5% | +30.5% |
| 1997 | 2.1% | +42.4% |
| 1998 | 2.4% | +13.1% |
| 1999 | 1.4% | -43.5% |
| 2000 | 1.8% | +34.7% |
| 2001 | 2.5% | +36.3% |
| 2002 | 2.9% | +15.6% |
| 2003 | 2.8% | -5.1% |
| 2004 | 2.8% | +0.1% |
| 2005 | 3.1% | +11.8% |
| 2006 | 3.1% | -0.9% |
| 2007 | 2.4% | -20.5% |
| 2008 | 3.8% | +54.7% |
| 2009 | 5.0% | +32.5% |
| 2010 | 3.1% | -37.0% |
| 2011 | 3.6% | +14.5% |
| 2012 | 5.0% | +38.9% |
| 2013 | 4.1% | -17.2% |
| 2014 | 4.7% | +12.4% |
| 2015 | 5.3% | +14.2% |
| 2016 | 4.7% | -12.0% |
| 2017 | 4.7% | +0.4% |
| 2018 | 5.5% | +16.5% |
| 2019 | 4.8% | -11.6% |
| 2020 | 4.1% | -16.0% |
| 2021 | 4.4% | +8.5% |
| 2022 | 3.7% | -16.4% |
| 2023 | 4.0% | +9.4% |
Iceland compared with similar countries
- Iceland's 4.0% is below the median for high income countries, which is 9.2%, 44% of the median. (74 countries reporting)
- Iceland's 4.0% is below the median for Europe & Central Asia, which is 9.2%, 44% of the median. (53 countries reporting)
Biggest year-on-year movements
Years where Merchandise exports to low- and middle-income economies outside region in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1975 | +333.3% | 1.5% | 6.5% |
| 1980 | +300.5% | 2.2% | 8.9% |
| 1986 | +299.0% | 0.6% | 2.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 5.3% | 3.2% | 7.5% | 10 |
| 1970s | 3.7% | 1.5% | 10.4% | 10 |
| 1980s | 4.4% | 0.6% | 14.9% | 10 |
| 1990s | 1.6% | 1.0% | 2.4% | 10 |
| 2000s | 3.0% | 1.8% | 5.0% | 10 |
| 2010s | 4.6% | 3.1% | 5.5% | 10 |
| 2020s | 4.0% | 3.7% | 4.4% | 4 |
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 merchandise exports to low- and middle-income economies outside region in Iceland?
- Merchandise exports to low- and middle-income economies outside region in Iceland was 4.0% in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise exports to low- and middle-income economies outside region recorded in Iceland?
- The highest recorded value was 14.9% in 1981.
- What is the lowest merchandise exports to low- and middle-income economies outside region recorded in Iceland?
- The lowest recorded value was 0.6% in 1985.
- How does Iceland rank for merchandise exports to low- and middle-income economies outside region?
- Iceland ranks 150th out of 206 countries with data for 2023.
- Is merchandise exports to low- and middle-income economies outside region rising or falling in Iceland?
- Over the last ten years it is down 2.6%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Merchandise exports to low- and middle-income economies outside region (% of total merchandise exports). Statizoid updates them automatically from the source API.
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About this data
Merchandise exports to low- and middle-income economies outside region are the sum of merchandise exports from the reporting economy to other low- and middle-income economies in other World Bank regions according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise exports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.