Tariff rate, most favored nation, simple mean, all products (%) in Iceland
Iceland: Tariff rate, most favored nation, simple mean, all products (%) was 4.1% in 2022. ▼ Falling
Tariff rate, most favored nation, simple mean, all products in Iceland, 1993–2022
Source: Staff estimates. Measured in %.
Analysis
The most recent figure for tariff rate, most favored nation, simple mean, all products in Iceland is 4.1%, measured in 2022.
The figure is down 16.5% on the previous year and down 31.1% over ten years.
Over the whole period, tariff rate, most favored nation, simple mean, all products in Iceland peaked at 10.8% in 2000 and was at its lowest, 3.5%, in 1993.
Iceland ranks 169th of 186 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 24 years of available data.
Tariff rate, most favored nation, simple mean, all products (%) in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1993 | 3.5% | — |
| 1996 | 3.7% | +7.0% |
| 1998 | 10.4% | +182.7% |
| 1999 | 8.9% | -14.4% |
| 2000 | 10.8% | +21.2% |
| 2001 | 6.3% | -41.5% |
| 2003 | 8.7% | +37.4% |
| 2004 | 9.5% | +9.4% |
| 2005 | 9.7% | +2.1% |
| 2006 | 8.3% | -14.8% |
| 2007 | 8.8% | +6.9% |
| 2008 | 7.3% | -16.9% |
| 2009 | 6.5% | -11.0% |
| 2010 | 6.0% | -8.6% |
| 2011 | 5.8% | -3.3% |
| 2012 | 5.9% | +2.8% |
| 2013 | 5.9% | -0.8% |
| 2014 | 6.0% | +1.4% |
| 2015 | 6.0% | +0.7% |
| 2016 | 5.3% | -11.0% |
| 2017 | 4.6% | -14.6% |
| 2019 | 4.6% | +0.4% |
| 2021 | 4.9% | +6.8% |
| 2022 | 4.1% | -16.5% |
Iceland compared with similar countries
- Iceland's 4.1% is below the median for high income countries, which is 5.2%, 78% of the median. (66 countries reporting)
- Iceland's 4.1% is below the median for Europe & Central Asia, which is 5.2%, 78% of the median. (47 countries reporting)
Biggest year-on-year movements
Years where Tariff rate, most favored nation, simple mean, all products (%) 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 |
|---|---|---|---|
| 1998 | +182.7% | 3.7% | 10.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 6.6% | 3.5% | 10.4% | 4 |
| 2000s | 8.5% | 6.3% | 10.8% | 9 |
| 2010s | 5.6% | 4.6% | 6.0% | 9 |
| 2020s | 4.5% | 4.1% | 4.9% | 2 |
Countries ranked near Iceland
- 166 Ukraine 4.5% compare
- 167 Japan 4.4% compare
- 168 Papua New Guinea 4.3% compare
- 170 United Kingdom 3.9% compare
- 171 Montenegro 3.7% compare
- 172 Albania 3.6% compare
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)
- Commercial service imports 5.94 billion current US$ (2025)
- Food exports 46.9% (2025)
- Manufactures exports 14.0% (2025)
- Merchandise exports 7.17 billion current US$ (2025)
- Commercial service exports 8.21 billion current US$ (2025)
- Merchandise exports (current US$), per capita 18,264 current US$ per person (2025)
Frequently asked questions
- What is tariff rate, most favored nation, simple mean, all products in Iceland?
- Tariff rate, most favored nation, simple mean, all products in Iceland was 4.1% in 2022, according to Staff estimates.
- What is the highest tariff rate, most favored nation, simple mean, all products recorded in Iceland?
- The highest recorded value was 10.8% in 2000.
- What is the lowest tariff rate, most favored nation, simple mean, all products recorded in Iceland?
- The lowest recorded value was 3.5% in 1993.
- How does Iceland rank for tariff rate, most favored nation, simple mean, all products?
- Iceland ranks 169th out of 186 countries with data for 2022.
- Is tariff rate, most favored nation, simple mean, all products rising or falling in Iceland?
- Over the last ten years it is down 31.1%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from Staff estimates, published as part of Tariff rate, most favored nation, simple mean, all products (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Simple mean most favored nation tariff rate is the unweighted average of most favored nation rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups.