Tariff rate, most favored nation, weighted … manufactured weighted in Iceland
Iceland: Tariff rate, most favored nation, weighted … manufactured weighted was 0.0% in 2022. ◆ Volatile
Tariff rate, most favored nation, weighted mean, manufactured products in Iceland, 1993–2022
Source: Staff estimates. Measured in %.
Analysis
In 2022, tariff rate, most favored nation, weighted mean, manufactured products in Iceland stood at 0.0%. That is the lowest value across all 24 years on record.
That represents a change of down 100.0% over ten years.
Over the whole period, tariff rate, most favored nation, weighted mean, manufactured products in Iceland peaked at 5.1% in 1993 and was at its lowest, 0.0%, in 2017.
Iceland ranks 181st of 184 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Tariff rate, most favored nation, weighted … manufactured weighted in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1993 | 5.1% | — |
| 1996 | 2.9% | -44.1% |
| 1998 | 2.7% | -4.5% |
| 1999 | 2.8% | +1.8% |
| 2000 | 2.9% | +2.9% |
| 2001 | 3.2% | +10.1% |
| 2003 | 3.0% | -6.0% |
| 2004 | 2.8% | -6.4% |
| 2005 | 2.6% | -6.5% |
| 2006 | 2.4% | -9.2% |
| 2007 | 2.5% | +5.5% |
| 2008 | 2.6% | +5.2% |
| 2009 | 2.7% | +1.5% |
| 2010 | 2.7% | +1.5% |
| 2011 | 2.5% | -6.3% |
| 2012 | 2.4% | -5.5% |
| 2013 | 2.6% | +7.1% |
| 2014 | 2.5% | -3.5% |
| 2015 | 2.4% | -4.9% |
| 2016 | 1.7% | -26.8% |
| 2017 | 0.0% | -100.0% |
| 2019 | 0.0% | — |
| 2021 | 0.0% | — |
| 2022 | 0.0% | — |
Iceland compared with similar countries
- Iceland's 0.0% is below the median for high income countries, which is 3.2%. (64 countries reporting)
- Iceland's 0.0% is below the median for Europe & Central Asia, which is 3.2%. (46 countries reporting)
Biggest year-on-year movements
Years where Tariff rate, most favored nation, weighted … manufactured weighted 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 |
|---|---|---|---|
| 2017 | -100.0% | 1.7% | 0.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.4% | 2.7% | 5.1% | 4 |
| 2000s | 2.7% | 2.4% | 3.2% | 9 |
| 2010s | 1.9% | 0.0% | 2.7% | 9 |
| 2020s | 0.0% | 0.0% | 0.0% | 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, weighted mean, manufactured products in Iceland?
- Tariff rate, most favored nation, weighted mean, manufactured products in Iceland was 0.0% in 2022, according to Staff estimates.
- What is the highest tariff rate, most favored nation, weighted mean, manufactured products recorded in Iceland?
- The highest recorded value was 5.1% in 1993.
- What is the lowest tariff rate, most favored nation, weighted mean, manufactured products recorded in Iceland?
- The lowest recorded value was 0.0% in 2017.
- How does Iceland rank for tariff rate, most favored nation, weighted mean, manufactured products?
- Iceland ranks 181st out of 184 countries with data for 2022.
- Is tariff rate, most favored nation, weighted mean, manufactured products rising or falling in Iceland?
- Over the last ten years it is down 100.0%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Staff estimates, published as part of Tariff rate, most favored nation, weighted mean, manufactured 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
Weighted mean most favored nations tariff is the average of most favored nation rates weighted by the product import shares corresponding to each partner country. 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 and import weights. Import weights were calculated using the United Nations Statistics Division's Commodity Trade (Comtrade) database. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.