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Iceland

Iceland FlagU.S.-Iceland Trade Facts

Iceland is currently our 106th largest goods trading partner with $845 million in total (two way) goods trade during 2011. Goods exports totaled $628 million; Goods imports totaled $216 million. The U.S. goods trade surplus with Iceland was $412 million in 2011.

Exports

Iceland was the United States' 89th largest goods export market in 2011.

U.S. goods exports to Iceland in 2011 were $628 million, up 93.4% ($303 million) from 2010.

The top export categories (2-digit HS) in 2010 were: Inorganic Chemicals (aluminum oxide) ($174 million), Mineral Fuel (oil) ($144 million), Special Other (low value shipments) ($138 million), Aircraft ($58 million), and Machinery ($18 million).

U.S. exports of agricultural products to Iceland totaled $18 million in 2011.

Imports

Iceland was the United States' 115th largest supplier of goods imports in 2011.

U.S. goods imports from Iceland totaled $216 million in 2011, a 7.5% increase ($15 million) from 2010.

The five largest import categories in 2011 were: Fish and Seafood (haddock, cod) ($94 million), Optical and Medical Instruments ($46 million), Machinery ($22 million), Beverages (mineral water) ($9 million), and Iron and Steel Products ($8 million).

U.S. imports of agricultural products from Iceland totaled $6 million in 2011.

Trade Balance

The U.S. goods trade surplus with Iceland was $412 million in 2011, a 233.2% increase ($288 million) over 2010.

Investment

U.S. foreign direct investment (FDI) in Iceland (stock) was not available in 2010 (latest data available) ($10 million in 2005).

Iceland FDI in the United States (stock) was not available in 2010 (latest data available). It was $2.0 billion in 2009.

*NOTE: No services trade data with Iceland is available.

2/27/12