Tariff rate, most favored nation, simple mean, primary products (%) in Iceland
Iceland: Tariff rate, most favored nation, simple mean, primary products (%) was 16.4% in 2022. ▼ Falling
Tariff rate, most favored nation, simple mean, primary products in Iceland, 1993–2022
Source: Staff estimates. Measured in %.
Analysis
The most recent figure for tariff rate, most favored nation, simple mean, primary products in Iceland is 16.4%, measured in 2022.
That represents a change of down 14.6% on the previous year and up 3.7% over ten years.
Over the whole period, tariff rate, most favored nation, simple mean, primary products in Iceland peaked at 39.0% in 2000 and was at its lowest, 2.7%, in 1993.
That places Iceland 39th out of 186 countries with data for 2022, putting it in the top quarter.
The long-run direction has been consistently falling across the 24 years of available data.
Tariff rate, most favored nation, simple mean, primary products (%) in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1993 | 2.7% | — |
| 1996 | 7.3% | +171.9% |
| 1998 | 37.4% | +414.6% |
| 1999 | 30.6% | -18.1% |
| 2000 | 39.0% | +27.4% |
| 2001 | 18.9% | -51.7% |
| 2003 | 29.4% | +56.0% |
| 2004 | 33.2% | +12.7% |
| 2005 | 34.0% | +2.5% |
| 2006 | 27.6% | -18.8% |
| 2007 | 30.0% | +8.8% |
| 2008 | 23.4% | -21.9% |
| 2009 | 19.9% | -15.0% |
| 2010 | 17.5% | -12.2% |
| 2011 | 16.6% | -5.1% |
| 2012 | 15.8% | -4.6% |
| 2013 | 15.7% | -1.1% |
| 2014 | 15.9% | +1.6% |
| 2015 | 16.1% | +1.3% |
| 2016 | 16.4% | +2.0% |
| 2017 | 17.9% | +9.0% |
| 2019 | 18.0% | +0.3% |
| 2021 | 19.2% | +7.0% |
| 2022 | 16.4% | -14.6% |
Iceland compared with similar countries
- Iceland's 16.4% is above the median for high income countries, which is 9.0%, 1.8× the median. (66 countries reporting)
- Iceland's 16.4% is above the median for Europe & Central Asia, which is 9.0%, 1.8× the median. (47 countries reporting)
Biggest year-on-year movements
Years where Tariff rate, most favored nation, simple mean, primary 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 | +414.6% | 7.3% | 37.4% |
| 1996 | +171.9% | 2.7% | 7.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 19.5% | 2.7% | 37.4% | 4 |
| 2000s | 28.4% | 18.9% | 39.0% | 9 |
| 2010s | 16.7% | 15.7% | 18.0% | 9 |
| 2020s | 17.8% | 16.4% | 19.2% | 2 |
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)
- 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, primary products in Iceland?
- Tariff rate, most favored nation, simple mean, primary products in Iceland was 16.4% in 2022, according to Staff estimates.
- What is the highest tariff rate, most favored nation, simple mean, primary products recorded in Iceland?
- The highest recorded value was 39.0% in 2000.
- What is the lowest tariff rate, most favored nation, simple mean, primary products recorded in Iceland?
- The lowest recorded value was 2.7% in 1993.
- How does Iceland rank for tariff rate, most favored nation, simple mean, primary products?
- Iceland ranks 39th out of 186 countries with data for 2022.
- Is tariff rate, most favored nation, simple mean, primary products rising or falling in Iceland?
- Over the last ten years it is up 3.7%. 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, primary 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. Primary products are commodities classified in SITC revision 3 sections 0-4 plus division 68 (nonferrous metals).