Merchandise trade in Iceland
Iceland: Merchandise trade was 46.9% in 2025. ▬ Flat
Merchandise trade in Iceland, 1960–2025
Source: World Trade Organization (WTO). Measured in % of GDP.
Analysis
In 2025, merchandise trade in Iceland stood at 46.9%.
That represents a change of down 7.0% on the previous year and down 17.2% over ten years.
Over the whole period, merchandise trade in Iceland peaked at 66.2% in 2011 and was at its lowest, 39.7%, in 1967.
Iceland ranks 118th of 204 countries on this measure, in the middle of the range.
Merchandise trade in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 65.1% | — |
| 1961 | 58.9% | -9.6% |
| 1962 | 57.8% | -1.8% |
| 1963 | 57.1% | -1.2% |
| 1964 | 53.0% | -7.1% |
| 1965 | 48.4% | -8.9% |
| 1966 | 45.3% | -6.4% |
| 1967 | 39.7% | -12.3% |
| 1968 | 42.9% | +8.2% |
| 1969 | 53.0% | +23.5% |
| 1970 | 55.8% | +5.2% |
| 1971 | 51.9% | -6.9% |
| 1972 | 48.3% | -6.9% |
| 1973 | 54.3% | +12.4% |
| 1974 | 54.1% | -0.3% |
| 1975 | 54.3% | +0.2% |
| 1976 | 50.2% | -7.4% |
| 1977 | 48.9% | -2.7% |
| 1978 | 50.6% | +3.6% |
| 1979 | 54.1% | +6.8% |
| 1980 | 54.8% | +1.3% |
| 1981 | 53.1% | -3.1% |
| 1982 | 49.1% | -7.5% |
| 1983 | 54.4% | +10.9% |
| 1984 | 53.3% | -2.1% |
| 1985 | 55.7% | +4.5% |
| 1986 | 53.7% | -3.5% |
| 1987 | 51.9% | -3.4% |
| 1988 | 47.8% | -7.9% |
| 1989 | 47.5% | -0.7% |
| 1990 | 48.9% | +3.0% |
| 1991 | 46.3% | -5.3% |
| 1992 | 43.8% | -5.3% |
| 1993 | 42.6% | -2.9% |
| 1994 | 46.8% | +9.9% |
| 1995 | 48.3% | +3.2% |
| 1996 | 51.2% | +6.1% |
| 1997 | 50.1% | -2.2% |
| 1998 | 51.1% | +1.9% |
| 1999 | 49.6% | -2.9% |
| 2000 | 49.1% | -1.0% |
| 2001 | 51.5% | +4.9% |
| 2002 | 47.8% | -7.2% |
| 2003 | 45.0% | -5.9% |
| 2004 | 46.4% | +3.1% |
| 2005 | 47.1% | +1.4% |
| 2006 | 54.3% | +15.3% |
| 2007 | 52.5% | -3.3% |
| 2008 | 63.5% | +21.0% |
| 2009 | 58.0% | -8.7% |
| 2010 | 61.2% | +5.6% |
| 2011 | 66.2% | +8.1% |
| 2012 | 65.8% | -0.5% |
| 2013 | 61.7% | -6.3% |
| 2014 | 57.8% | -6.3% |
| 2015 | 56.7% | -1.9% |
| 2016 | 47.9% | -15.4% |
| 2017 | 47.3% | -1.4% |
| 2018 | 49.6% | +5.0% |
| 2019 | 47.2% | -4.9% |
| 2020 | 46.6% | -1.1% |
| 2021 | 52.6% | +12.8% |
| 2022 | 58.2% | +10.6% |
| 2023 | 51.3% | -11.9% |
| 2024 | 50.5% | -1.6% |
| 2025 | 46.9% | -7.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 52.1% | 39.7% | 65.1% | 10 |
| 1970s | 52.3% | 48.3% | 55.8% | 10 |
| 1980s | 52.1% | 47.5% | 55.7% | 10 |
| 1990s | 47.9% | 42.6% | 51.2% | 10 |
| 2000s | 51.5% | 45.0% | 63.5% | 10 |
| 2010s | 56.1% | 47.2% | 66.2% | 10 |
| 2020s | 51.0% | 46.6% | 58.2% | 6 |
Countries ranked near Iceland
- 115 Cote d'Ivoire 47.9% compare
- 116 Palau 47.8% compare
- 117 Tuvalu 47.1% compare
- 119 Malta 46.9% compare
- 120 Kazakhstan 46.8% compare
- 121 Philippines 46.2% compare
More private sector data for Iceland
- 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$), annual growth rate 3.33 % change on previous year (2025)
- Merchandise imports (current US$), per capita 27,890 current US$ per person (2025)
Frequently asked questions
- What is merchandise trade in Iceland?
- Merchandise trade in Iceland was 46.9% in 2025, according to World Trade Organization (WTO).
- What is the highest merchandise trade recorded in Iceland?
- The highest recorded value was 66.2% in 2011.
- What is the lowest merchandise trade recorded in Iceland?
- The lowest recorded value was 39.7% in 1967.
- How does Iceland rank for merchandise trade?
- Iceland ranks 118th out of 204 countries with data for 2025.
- Is merchandise trade rising or falling in Iceland?
- Over the last ten years it is down 17.2%. The long-run trend across the full record is flat.
- Where does this Iceland data come from?
- The figures come from World Trade Organization (WTO), published as part of Merchandise trade (% of GDP). Statizoid updates them automatically from the source API.
Download this data
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About this data
General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.