Balanced international merchandise trade statistics (BIMTS) in Iceland
Iceland: Balanced international merchandise trade statistics (BIMTS) was 0.0012 US dollars, exchange rate converted in 2024. ◆ Volatile
Balanced international merchandise trade statistics (BIMTS) in Iceland, 1996–2024
Source: Organisation for Economic Co-operation and Development. Measured in US dollars, exchange rate converted.
Analysis
In 2024, balanced international merchandise trade statistics (bimts) in Iceland stood at 0.0012 US dollars, exchange rate converted.
The figure is down 98.0% over ten years.
Over the whole period, balanced international merchandise trade statistics (bimts) in Iceland peaked at 0.0638 US dollars, exchange rate converted in 2014 and was at its lowest, 0.0001 US dollars, exchange rate converted, in 2004.
That places Iceland 89th out of 96 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Balanced international merchandise trade statistics (BIMTS) in Iceland, year by year
| Year | US dollars, exchange rate converted | Change |
|---|---|---|
| 1996 | 0.017 US dollars, exchange rate converted | — |
| 1997 | 0.0072 US dollars, exchange rate converted | -57.5% |
| 2004 | 0.0001 US dollars, exchange rate converted | -98.9% |
| 2008 | 0.0038 US dollars, exchange rate converted | +4770.0% |
| 2010 | 0.0115 US dollars, exchange rate converted | +200.3% |
| 2011 | 0.0094 US dollars, exchange rate converted | -18.0% |
| 2012 | 0.039 US dollars, exchange rate converted | +313.2% |
| 2013 | 0.0134 US dollars, exchange rate converted | -65.7% |
| 2014 | 0.0638 US dollars, exchange rate converted | +376.1% |
| 2015 | 0.0173 US dollars, exchange rate converted | -72.9% |
| 2016 | 0.0067 US dollars, exchange rate converted | -61.2% |
| 2018 | 0.0045 US dollars, exchange rate converted | -32.8% |
| 2020 | 0.0008 US dollars, exchange rate converted | -83.3% |
| 2024 | 0.0012 US dollars, exchange rate converted | +65.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.0121 US dollars, exchange rate converted | 0.0072 US dollars, exchange rate converted | 0.017 US dollars, exchange rate converted | 2 |
| 2000s | 0.002 US dollars, exchange rate converted | 0.0001 US dollars, exchange rate converted | 0.0038 US dollars, exchange rate converted | 2 |
| 2010s | 0.0207 US dollars, exchange rate converted | 0.0045 US dollars, exchange rate converted | 0.0638 US dollars, exchange rate converted | 8 |
| 2020s | 0.001 US dollars, exchange rate converted | 0.0008 US dollars, exchange rate converted | 0.0012 US dollars, exchange rate converted | 2 |
Countries ranked near Iceland
- 86 Cambodia 0.0021 US dollars, exchange rate converted compare
- 87 Azerbaijan 0.0019 US dollars, exchange rate converted compare
- 88 Qatar 0.0018 US dollars, exchange rate converted compare
- 90 Saint Lucia 0.0012 US dollars, exchange rate converted compare
- 91 Bosnia and Herzegovina 0.0012 US dollars, exchange rate converted compare
- 92 Saint Kitts and Nevis 0.001 US dollars, exchange rate converted compare
More economy & growth data for Iceland
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.96 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.48 Percent per annum (2029)
- GNI (current LCU), annual growth rate 8.97 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 128.16 current LCU per US$ of GDP (2025)
- GNI (current LCU), per capita 12.60 million current LCU per person (2025)
- Net primary income (Net income from abroad) (current US$), annual 7.14 % change on previous year (2024)
- Net primary income (Net income from abroad) (current LCU), annual 7.13 % change on previous year (2024)
- Taxes less subsidies on products (current US$), annual growth rate 5.83 % change on previous year (2025)
- Taxes less subsidies on products (current US$), per unit of GDP 0.1006 current US$ per US$ of GDP (2025)
- Taxes less subsidies on products (current US$), per capita 9,894 current US$ per person (2025)
Frequently asked questions
- What is balanced international merchandise trade statistics (bimts) in Iceland?
- Balanced international merchandise trade statistics (bimts) in Iceland was 0.0012 US dollars, exchange rate converted in 2024, according to Organisation for Economic Co-operation and Development.
- What is the highest balanced international merchandise trade statistics (bimts) recorded in Iceland?
- The highest recorded value was 0.0638 US dollars, exchange rate converted in 2014.
- What is the lowest balanced international merchandise trade statistics (bimts) recorded in Iceland?
- The lowest recorded value was 0.0001 US dollars, exchange rate converted in 2004.
- How does Iceland rank for balanced international merchandise trade statistics (bimts)?
- Iceland ranks 89th out of 96 countries with data for 2024.
- Is balanced international merchandise trade statistics (bimts) rising or falling in Iceland?
- Over the last ten years it is down 98.0%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Balanced international merchandise trade statistics (BIMTS) - HS2017-2D. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 14 observations, free to reuse under OECD Terms and Conditions (attribution required).
About this data
The OECD Balanced International Merchandise Trade Statistics (BIMTS) dataset provides a complete, consistent, and balanced matrix of international merchandise trade statistics. It includes annual bilateral data for approximately 200 reporters and partners, covering around 98 products in HS2017 at the 2-digit level from 1995 to 2024. BIMTS is also available in the HS 2017 classification at 4-digit and 6-digit levels of aggregation currently available via the Related Files (bottom of the page) and also in the Statistical Classification of Products by Activity (CPA 2.1) at the 2-digit level of aggregation. BIMTS is complete and consistent. The OECD methodology leverages all available official statistics and combines them with estimations and adjustments to provide users with a complete matrix covering virtually all economies in the world. To provide users with consistent and long time series, the data is presented according to either HS2017 or CPA 2.1. BIMTS is balanced. The OECD has developed a transparent approach to reconcile asymmetries in international merchandise trade statistics. A sequence of adjustments, documented in the BIMTS technical paper, significantly reduces asymmetries in the dataset before the final balancing procedure is performed. An important feature of BIMTS is a novel algorithm which identifies re-export flows and reallocates them to the producer countries before the balancing. To avoid double counting of flows between producers and trade hubs (already accounted for in the trade between producers and final users), BIMTS breaks down the final balanced values into a domestic component and a re-exports component. Users will therefore find two different measures of balanced trade flows (under the ‘Adjustment’ dimension): Total balanced value: Represents the total reconciled bilateral trade flow, including re-exports. Balanced value adjusted for re-exports: Represents the reconciled bilateral trade flow, adjusted for re-exports. This adjusted value is deemed to more accurately reflect economic reality and is therefore the preferred measure. In this database, the Reference area denotes the exporter, while the Counterpart area denotes the importer. Because the data are balanced, exports from the exporter to the importer equal imports by the importer from the exporter, and the flow is therefore recorded only once. Note that zero trade flows are represented in BIMTS as missing records (marked as “..”). This approach reduces the dataset size and improves processing times in the OECD Data Explorer. For convenience, users can also retrieve data for total merchandise (“_T”, denoting all products) and partner world (“W”). BIMTS will be regularly updated and continually improved as new data becomes available. For more information on: The methodology: The OECD Balanced International Merchandise Trade Dataset (BIMTS). Balanced trade statistics related pages: Balanced trade statistics, or The statistics compiled by the OECD Statistics and Data Directorate Users are encouraged to send their questions, or to signal any apparent errors, regarding this database to STAT.Contact@oecd.org