Iceland

U.S.-Iceland Trade Facts

Iceland is currently our 112th largest goods trading partner with $526 million in total (two way) goods trade during 2010. Goods exports totaled $325 million; Goods imports totaled $201 million. The U.S. goods trade surplus with Iceland was $124 million in 2010.

Exports

Iceland was the United States' 104th largest goods export market in 2010.

U.S. goods exports to Iceland in 2010 were $325 million, down 7.0% ($25 million) from 2009.

The top export categories (2-digit HS) in 2009 were: Special Other (low value shipments) ($76 million), Inorganic Chemicals (aluminum oxide) ($63 million), Aircraft ($53 million),

Mineral Fuel (petroleum coke) ($30 million), and Optic and Medical Instruments ($21 million).

U.S. exports of agricultural products to Iceland totaled $17 million in 2010.

Imports

Iceland was the United States' 105th largest supplier of goods imports in 2010.

U.S. goods imports from Iceland totaled $201 million in 2010, a 12.0% increase ($22 million) from 2009.

The five largest import categories in 2010 were: Fish and Seafood (frozen fillets) ($97 million), Optical and Medical Instruments ($41 million), Machinery ($24 million), Beverages (mineral water) ($8 million), and Miscellaneous Chemical Products ($6 million).

U.S. imports of agricultural products from Iceland totaled $5 million in 2010.

Trade Balance

The U.S. goods trade surplus with Iceland was $124 million in 2010, a 27.1% decrease ($46 million) over 2009.

Investment

U.S. foreign direct investment (FDI) in Iceland (stock) was not available in 2009 (latest data available), ($10 million in 2005).

Iceland FDI in the United States (stock) was $2.1 billion in 2009 (latest data available), down 73.5 percent from 2008.