The value of exported goods from Iceland in 2023 amounted to 939.1 billion ISK fob and the value of imported goods amounted to 1306.3 billion ISK cif (1236.1 billion ISK fob). Thus, there was a trade deficit, calculated on fob/cif value, of 367.3 ISK billion in 2023 compared with a trade deficit of 291.4 billion ISK in 2022 at current rates of exchange.
Value of manufacturing products 13% lower than in 2022
The total value of exports of goods in 2023 was 75.1 billion ISK lower (7%) than in 2022 at current rates of exchange. Exports of aluminium and aluminium products had the largest share in exported manufacturing products or 34.2% of total exports. Marine products contributed to 37.6% of the total exports and their value was 2% lower than in 2022. Fresh fish and frozen fish fillets had the largest share in marine products. Fresh fish was 9.4% of total exports and frozen fish fillets were 8.9% of total exports. Largest trading countries in export of goods were the Netherlands, the United States and the United Kingdom while 78% of all exports went to EEA countries.
The value of imports almost unchanged between years
In 2023, the value of imports of goods was 784 million ISK higher than in 2022 at each year's exchange rate. The value of food and beverage imports increased by 13%, while the value of fuel decreased by 12% year-on-year. The largest shares in the import value were raw and consumable goods (26.0%) and investment goods (23.8%). The largest trading countries in imports of goods in 2023 were Norway, Germany and China. The value of imports from countries within the EEA amounted to 62% of all imports in 2023.
Data revised from 2015
Data on exports have been revised back to 2015 due to new data on exports of marine products.