Merchandise imports from low- and middle-income economies in Latin in Iceland
Iceland: Merchandise imports from low- and middle-income economies in Latin was 4.9% in 2023. ◆ Volatile
Merchandise imports from low- and middle-income economies in Latin in Iceland, 1960–2023
Source: Staff estimates, World Bank (WB). Measured in % of total merchandise imports.
Analysis
In 2023, merchandise imports from low- and middle-income economies in latin in Iceland stood at 4.9%.
The figure is up 13.1% on the previous year and down 46.4% over ten years.
Over the whole period, merchandise imports from low- and middle-income economies in latin in Iceland peaked at 11.0% in 2010 and was at its lowest, 0.3%, in 1998.
Iceland ranks 42nd of 206 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Merchandise imports from low- and middle-income economies in Latin in Iceland, year by year
| Year | % of total merchandise imports | Change |
|---|---|---|
| 1960 | 2.4% | — |
| 1961 | 3.4% | +40.8% |
| 1962 | 2.0% | -39.0% |
| 1963 | 1.5% | -24.9% |
| 1964 | 1.7% | +10.4% |
| 1965 | 2.1% | +21.3% |
| 1966 | 1.4% | -31.0% |
| 1967 | 1.6% | +10.3% |
| 1968 | 1.5% | -3.0% |
| 1969 | 2.2% | +43.1% |
| 1970 | 4.9% | +125.8% |
| 1971 | 5.4% | +9.2% |
| 1972 | 3.8% | -29.3% |
| 1973 | 1.2% | -68.8% |
| 1974 | 0.8% | -31.2% |
| 1975 | 1.1% | +39.0% |
| 1976 | 1.7% | +48.1% |
| 1977 | 1.9% | +11.5% |
| 1978 | 2.4% | +27.6% |
| 1979 | 1.7% | -29.9% |
| 1980 | 1.4% | -13.3% |
| 1981 | 1.3% | -12.5% |
| 1982 | 1.0% | -19.2% |
| 1983 | 0.9% | -12.3% |
| 1984 | 1.1% | +17.5% |
| 1985 | 1.1% | +3.2% |
| 1986 | 1.2% | +11.4% |
| 1987 | 0.8% | -37.0% |
| 1988 | 0.6% | -18.1% |
| 1989 | 0.7% | +6.6% |
| 1990 | 0.5% | -27.9% |
| 1991 | 0.5% | +4.4% |
| 1992 | 0.4% | -13.5% |
| 1993 | 0.6% | +43.6% |
| 1994 | 0.6% | -6.7% |
| 1995 | 0.5% | -10.9% |
| 1996 | 0.4% | -26.4% |
| 1997 | 0.4% | +3.8% |
| 1998 | 0.3% | -28.6% |
| 1999 | 1.2% | +312.7% |
| 2000 | 1.3% | +8.7% |
| 2001 | 2.0% | +57.0% |
| 2002 | 1.8% | -11.1% |
| 2003 | 1.7% | -2.3% |
| 2004 | 1.6% | -8.5% |
| 2005 | 1.1% | -32.2% |
| 2006 | 1.5% | +38.7% |
| 2007 | 1.1% | -23.5% |
| 2008 | 2.4% | +110.3% |
| 2009 | 7.3% | +204.1% |
| 2010 | 11.0% | +50.7% |
| 2011 | 7.4% | -32.9% |
| 2012 | 8.6% | +17.0% |
| 2013 | 9.1% | +6.0% |
| 2014 | 7.1% | -21.7% |
| 2015 | 8.8% | +23.1% |
| 2016 | 3.1% | -65.2% |
| 2017 | 5.0% | +64.0% |
| 2018 | 4.9% | -2.8% |
| 2019 | 4.9% | +0.6% |
| 2020 | 7.2% | +46.8% |
| 2021 | 6.4% | -11.5% |
| 2022 | 4.3% | -32.2% |
| 2023 | 4.9% | +13.1% |
Iceland compared with similar countries
- Iceland's 4.9% is above the median for high income countries, which is 1.5%, 3.2× the median. (74 countries reporting)
- Iceland's 4.9% is above the median for Europe & Central Asia, which is 1.2%, 4.0× the median. (53 countries reporting)
Biggest year-on-year movements
Years where Merchandise imports from low- and middle-income economies in Latin 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 |
|---|---|---|---|
| 1999 | +312.7% | 0.3% | 1.2% |
| 2009 | +204.1% | 2.4% | 7.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 2.0% | 1.4% | 3.4% | 10 |
| 1970s | 2.5% | 0.8% | 5.4% | 10 |
| 1980s | 1.0% | 0.6% | 1.4% | 10 |
| 1990s | 0.5% | 0.3% | 1.2% | 10 |
| 2000s | 2.2% | 1.1% | 7.3% | 10 |
| 2010s | 7.0% | 3.1% | 11.0% | 10 |
| 2020s | 5.7% | 4.3% | 7.2% | 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 from low- and middle-income economies in latin in Iceland?
- Merchandise imports from low- and middle-income economies in latin in Iceland was 4.9% in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise imports from low- and middle-income economies in latin recorded in Iceland?
- The highest recorded value was 11.0% in 2010.
- What is the lowest merchandise imports from low- and middle-income economies in latin recorded in Iceland?
- The lowest recorded value was 0.3% in 1998.
- How does Iceland rank for merchandise imports from low- and middle-income economies in latin?
- Iceland ranks 42nd out of 206 countries with data for 2023.
- Is merchandise imports from low- and middle-income economies in latin rising or falling in Iceland?
- Over the last ten years it is down 46.4%. 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 from low- and middle-income economies in Latin America & the Caribbean (% of total merchandise imports). Statizoid updates them automatically from the source API.
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About this data
Merchandise imports from low- and middle-income economies in Latin America and the Caribbean are the sum of merchandise imports by the reporting economy from low- and middle-income economies in the Latin America and the Caribbean region according to the World Bank classification of economies. Data are expressed as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.