Iceland

U.S.-Iceland Trade Facts

Iceland is currently our 111th largest goods trading partner with $710 million in total (two way) goods trade during 2008. Goods exports totaled $470 million; Goods imports totaled $241 million. The U.S. goods trade surplus with Iceland was $229 million in 2008.

Exports

Iceland was the United States' 96th largest goods export market in 2008.

U.S. goods exports to Iceland in 2008 were $470 million, down 25.4% ($160 million) from 2007.

The top export categories (2-digit HS) in 2008 were: Special Other (low value shipments) ($113 million), Inorganic Chemicals (aluminum oxide) ($99 million), Vehicles ($44 million), Aircraft ($30 million), and Mineral Fuel (petroleum coke) ($30 million).

U.S. exports of agricultural products to Iceland totaled $22 million in 2008.

Imports

Iceland was the United States' 109th largest supplier of goods imports in 2008.

U.S. goods imports from Iceland totaled $241 million in 2008, a 17.0% increase ($35 million) from 2007.

The five largest import categories in 2008 were: Fish and Seafood (frozen fillets) ($89 million), Optical and Medical Instruments ($42 million), Special Other (returns) ($36 million), Aluminum ($14 million), and Machinery ($14 million).

U.S. imports of agricultural products from Iceland totaled $5 million in 2008.

Trade Balance

The U.S. goods trade surplus with Iceland was $229 million in 2008, a 46.0% decrease ($195 million) over 2007.

Investment

U.S. foreign direct investment (FDI) in Iceland (stock) was not available in 2007 (latest data available) ($10 million in 2005).

Iceland FDI in the United States (stock) was not available in 2007 ($7.4 billion in 2005).