Merchandise imports from low- and middle-income economies outside in Iceland
Iceland: Merchandise imports from low- and middle-income economies outside was 17.3% in 2023. ◆ Volatile
Merchandise imports from low- and middle-income economies outside 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 outside in Iceland stood at 17.3%.
That represents a change of down 11.3% on the previous year and down 10.3% over ten years.
Over the whole period, merchandise imports from low- and middle-income economies outside in Iceland peaked at 19.7% in 2010 and was at its lowest, 1.5%, in 1988.
Iceland ranks 115th 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 from low- and middle-income economies outside in Iceland, year by year
| Year | % of total merchandise imports | Change |
|---|---|---|
| 1960 | 2.7% | — |
| 1961 | 3.4% | +25.1% |
| 1962 | 4.1% | +22.1% |
| 1963 | 2.1% | -49.1% |
| 1964 | 2.1% | +2.7% |
| 1965 | 2.6% | +20.1% |
| 1966 | 1.9% | -25.5% |
| 1967 | 1.9% | -3.4% |
| 1968 | 1.9% | +4.9% |
| 1969 | 5.9% | +203.8% |
| 1970 | 5.6% | -4.8% |
| 1971 | 6.0% | +7.3% |
| 1972 | 4.6% | -23.4% |
| 1973 | 2.1% | -53.7% |
| 1974 | 1.8% | -17.4% |
| 1975 | 2.3% | +31.5% |
| 1976 | 2.6% | +11.1% |
| 1977 | 3.1% | +18.6% |
| 1978 | 3.3% | +8.8% |
| 1979 | 3.1% | -7.8% |
| 1980 | 2.4% | -22.9% |
| 1981 | 2.8% | +17.5% |
| 1982 | 3.6% | +30.4% |
| 1983 | 1.8% | -50.1% |
| 1984 | 1.8% | +1.1% |
| 1985 | 1.8% | -0.8% |
| 1986 | 1.9% | +5.2% |
| 1987 | 1.5% | -22.3% |
| 1988 | 1.5% | -1.6% |
| 1989 | 2.3% | +60.6% |
| 1990 | 1.6% | -29.9% |
| 1991 | 1.7% | +5.4% |
| 1992 | 1.9% | +12.3% |
| 1993 | 3.0% | +54.6% |
| 1994 | 3.5% | +16.1% |
| 1995 | 3.3% | -4.1% |
| 1996 | 3.0% | -10.9% |
| 1997 | 3.1% | +5.7% |
| 1998 | 2.4% | -24.1% |
| 1999 | 4.3% | +79.7% |
| 2000 | 4.7% | +9.4% |
| 2001 | 6.6% | +39.6% |
| 2002 | 7.2% | +10.2% |
| 2003 | 7.7% | +6.1% |
| 2004 | 7.5% | -2.0% |
| 2005 | 8.2% | +9.0% |
| 2006 | 8.4% | +3.1% |
| 2007 | 8.1% | -4.0% |
| 2008 | 11.1% | +37.5% |
| 2009 | 14.5% | +30.4% |
| 2010 | 19.7% | +35.8% |
| 2011 | 16.3% | -17.5% |
| 2012 | 19.4% | +19.0% |
| 2013 | 19.3% | -0.3% |
| 2014 | 17.2% | -11.1% |
| 2015 | 19.2% | +11.5% |
| 2016 | 13.8% | -27.8% |
| 2017 | 14.3% | +3.1% |
| 2018 | 15.9% | +11.2% |
| 2019 | 15.6% | -1.9% |
| 2020 | 18.0% | +15.7% |
| 2021 | 19.0% | +5.3% |
| 2022 | 19.6% | +3.1% |
| 2023 | 17.3% | -11.3% |
Iceland compared with similar countries
- Iceland's 17.3% is above the median for high income countries, which is 11.2%, 1.5× the median. (74 countries reporting)
- Iceland's 17.3% is above the median for Europe & Central Asia, which is 15.8%, 1.1× the median. (53 countries reporting)
Biggest year-on-year movements
Years where Merchandise imports from low- and middle-income economies outside 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 |
|---|---|---|---|
| 1969 | +203.8% | 1.9% | 5.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 2.9% | 1.9% | 5.9% | 10 |
| 1970s | 3.5% | 1.8% | 6.0% | 10 |
| 1980s | 2.1% | 1.5% | 3.6% | 10 |
| 1990s | 2.8% | 1.6% | 4.3% | 10 |
| 2000s | 8.4% | 4.7% | 14.5% | 10 |
| 2010s | 17.1% | 13.8% | 19.7% | 10 |
| 2020s | 18.5% | 17.3% | 19.6% | 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 outside in Iceland?
- Merchandise imports from low- and middle-income economies outside in Iceland was 17.3% in 2023, according to Staff estimates, World Bank (WB).
- What is the highest merchandise imports from low- and middle-income economies outside recorded in Iceland?
- The highest recorded value was 19.7% in 2010.
- What is the lowest merchandise imports from low- and middle-income economies outside recorded in Iceland?
- The lowest recorded value was 1.5% in 1988.
- How does Iceland rank for merchandise imports from low- and middle-income economies outside?
- Iceland ranks 115th out of 206 countries with data for 2023.
- Is merchandise imports from low- and middle-income economies outside rising or falling in Iceland?
- Over the last ten years it is down 10.3%. 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 outside region (% of total merchandise imports). Statizoid updates them automatically from the source API.
Download this data
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About this data
Merchandise imports from low- and middle-income economies outside region are the sum of merchandise imports by the reporting economy from 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 imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data.