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Export Market

Iceland

ISO: IS / ISL

Country Profile

Capital Reykjavik
Population 392K
GDP $33.3B (2024)
GDP per Capita $86,041
Income Level High Income
Currency Icelandic króna (ISK kr)
Language Icelandic
Timezone UTC
Region Europe · Northern Europe

Trade Partners

Iceland Exports To

  • Netherlands 27.0%
  • Germany 11.0%
  • USA 10.0%
  • UK 8.0%
  • Norway 6.0%

Key exports: aluminum, fish, orthopedic appliances, animal meal, iron alloys (2023)

Iceland Imports From

  • Norway 11.0%
  • China 9.0%
  • Germany 9.0%
  • Netherlands 8.0%
  • USA 7.0%

Key imports: refined petroleum, cars, carbon-based electronics, aluminum oxide, computers (2023)

Economic Overview

high-income North Atlantic island economy; not an EU member but market integration via European Economic Area (EEA); dominant tourism, fishing, and aluminum industries vulnerable to demand swings and disruption from volcanic activity; inflation remains above target rate; barriers to foreign business access and economic diversification

Government: unitary parliamentary republic

UK Trade Status

FTA in Force

The UK has a free trade agreement with Iceland, providing preferential market access for UK exporters.

Geographic Region

Europe

Trading Bloc Memberships

Iceland is a member of the following trade agreements and economic blocs.

EEA European Economic Area Single Market UK Agreement EFTA European Free Trade Association Free Trade Area UK Agreement

Export Guidance

Relevant guidance for exporting to Iceland.

Start Your Export Journey

Export to the EU after Brexit Start exporting from the UK Manage your export compliance

Also in This Region

🇦🇱 Albania FTA 🇦🇩 Andorra 🇦🇹 Austria FTA 🇧🇪 Belgium FTA 🇧🇦 Bosnia and Herzegovina FTA 🇧🇬 Bulgaria FTA 🇭🇷 Croatia FTA 🇨🇾 Cyprus FTA

Official Resources

Government export support for Iceland.

great.gov.uk Market Guide → GOV.UK Country Information →
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