Merchandise imports by the reporting economy in Iceland
Iceland: Merchandise imports by the reporting economy was 9.48 billion current US$ in 2023. ◆ Volatile
Latest (2023)
9.48 billion current US$
Change on year
down 2.3%
World rank
114th
of 206 countries
All-time high
9.71 billion current US$
in 2022
All-time low
56.60 million current US$
in 1961
Years of data
64
1960–2023
Merchandise imports by the reporting economy in Iceland, 1960–2023
Source: Staff estimates, World Bank (WB). Measured in current US$.
Analysis
Iceland recorded 9.48 billion current US$ for merchandise imports by the reporting economy in 2023.
The figure is down 2.3% on the previous year and up 88.9% over ten years.
Over the whole period, merchandise imports by the reporting economy in Iceland peaked at 9.71 billion current US$ in 2022 and was at its lowest, 56.60 million current US$, in 1961.
Iceland ranks 114th of 206 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Merchandise imports by the reporting economy in Iceland, year by year
| Year | current US$ | Change |
|---|---|---|
| 1960 | 67.10 million current US$ | — |
| 1961 | 56.60 million current US$ | -15.6% |
| 1962 | 73.20 million current US$ | +29.3% |
| 1963 | 91.00 million current US$ | +24.3% |
| 1964 | 111.90 million current US$ | +23.0% |
| 1965 | 116.50 million current US$ | +4.1% |
| 1966 | 140.80 million current US$ | +20.9% |
| 1967 | 140.40 million current US$ | -0.3% |
| 1968 | 118.40 million current US$ | -15.7% |
| 1969 | 108.09 million current US$ | -8.7% |
| 1970 | 138.36 million current US$ | +28.0% |
| 1971 | 187.10 million current US$ | +35.2% |
| 1972 | 210.11 million current US$ | +12.3% |
| 1973 | 314.96 million current US$ | +49.9% |
| 1974 | 451.35 million current US$ | +43.3% |
| 1975 | 415.78 million current US$ | -7.9% |
| 1976 | 392.22 million current US$ | -5.7% |
| 1977 | 528.74 million current US$ | +34.8% |
| 1978 | 593.20 million current US$ | +12.2% |
| 1979 | 689.64 million current US$ | +16.3% |
| 1980 | 870.22 million current US$ | +26.2% |
| 1981 | 905.90 million current US$ | +4.1% |
| 1982 | 827.41 million current US$ | -8.7% |
| 1983 | 708.56 million current US$ | -14.4% |
| 1984 | 736.12 million current US$ | +3.9% |
| 1985 | 801.35 million current US$ | +8.9% |
| 1986 | 1.02 billion current US$ | +27.5% |
| 1987 | 1.47 billion current US$ | +43.7% |
| 1988 | 1.50 billion current US$ | +2.2% |
| 1989 | 1.30 billion current US$ | -13.4% |
| 1990 | 1.56 billion current US$ | +19.8% |
| 1991 | 1.61 billion current US$ | +3.6% |
| 1992 | 1.64 billion current US$ | +1.9% |
| 1993 | 1.32 billion current US$ | -19.5% |
| 1994 | 1.43 billion current US$ | +8.4% |
| 1995 | 1.72 billion current US$ | +19.9% |
| 1996 | 1.99 billion current US$ | +15.9% |
| 1997 | 2.03 billion current US$ | +2.1% |
| 1998 | 2.46 billion current US$ | +20.9% |
| 1999 | 2.52 billion current US$ | +2.3% |
| 2000 | 2.59 billion current US$ | +2.8% |
| 2001 | 2.27 billion current US$ | -12.0% |
| 2002 | 2.27 billion current US$ | +0.0% |
| 2003 | 2.83 billion current US$ | +24.4% |
| 2004 | 3.70 billion current US$ | +31.0% |
| 2005 | 4.85 billion current US$ | +30.8% |
| 2006 | 6.13 billion current US$ | +26.5% |
| 2007 | 6.63 billion current US$ | +8.1% |
| 2008 | 6.20 billion current US$ | -6.5% |
| 2009 | 3.60 billion current US$ | -41.9% |
| 2010 | 3.90 billion current US$ | +8.2% |
| 2011 | 4.80 billion current US$ | +23.1% |
| 2012 | 4.77 billion current US$ | -0.6% |
| 2013 | 5.02 billion current US$ | +5.2% |
| 2014 | 5.37 billion current US$ | +7.1% |
| 2015 | 5.31 billion current US$ | -1.2% |
| 2016 | 5.69 billion current US$ | +7.3% |
| 2017 | 6.92 billion current US$ | +21.5% |
| 2018 | 7.66 billion current US$ | +10.7% |
| 2019 | 6.55 billion current US$ | -14.4% |
| 2020 | 4.27 billion current US$ | -34.9% |
| 2021 | 7.84 billion current US$ | +83.8% |
| 2022 | 9.71 billion current US$ | +23.8% |
| 2023 | 9.48 billion current US$ | -2.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 102.40 million current US$ | 56.60 million current US$ | 140.80 million current US$ | 10 |
| 1970s | 392.15 million current US$ | 138.36 million current US$ | 689.64 million current US$ | 10 |
| 1980s | 1.01 billion current US$ | 708.56 million current US$ | 1.50 billion current US$ | 10 |
| 1990s | 1.83 billion current US$ | 1.32 billion current US$ | 2.52 billion current US$ | 10 |
| 2000s | 4.11 billion current US$ | 2.27 billion current US$ | 6.63 billion current US$ | 10 |
| 2010s | 5.60 billion current US$ | 3.90 billion current US$ | 7.66 billion current US$ | 10 |
| 2020s | 7.83 billion current US$ | 4.27 billion current US$ | 9.71 billion current US$ | 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$), annual growth rate 3.33 % change on previous year (2025)
Frequently asked questions
- What is merchandise imports by the reporting economy in Iceland?
- Merchandise imports by the reporting economy in Iceland was 9.48 billion current US$ in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise imports by the reporting economy recorded in Iceland?
- The highest recorded value was 9.71 billion current US$ in 2022.
- What is the lowest merchandise imports by the reporting economy recorded in Iceland?
- The lowest recorded value was 56.60 million current US$ in 1961.
- How does Iceland rank for merchandise imports by the reporting economy?
- Iceland ranks 114th out of 206 countries with data for 2023.
- Is merchandise imports by the reporting economy rising or falling in Iceland?
- Over the last ten years it is up 88.9%. 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 imports by the reporting economy (current US$). Statizoid updates them automatically from the source API.
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About this data
Merchandise imports by the reporting economy are the total merchandise imports by the reporting economy from the rest of the world, as reported in the IMF's Direction of trade database. Data are in current U.S. dollars.