Merchandise trade as a proportion of GDP in Iceland
Iceland: Merchandise trade as a proportion of GDP was 50.4% in 2024. ▬ Flat
Latest (2024)
50.4%
Change on year
down 1.8%
World rank
122nd
of 218 countries
All-time high
66.2%
in 2011
All-time low
45.0%
in 2003
Years of data
25
2000–2024
Merchandise trade as a proportion of GDP in Iceland, 2000–2024
Source: United Nations Statistics Division, SDG Global Database. Measured in %.
Analysis
In 2024, merchandise trade as a proportion of gdp in Iceland stood at 50.4%.
Compared with earlier readings it is down 1.8% on the previous year and down 12.8% over ten years.
Over the whole period, merchandise trade as a proportion of gdp in Iceland peaked at 66.2% in 2011 and was at its lowest, 45.0%, in 2003.
That places Iceland 122nd out of 218 countries with data for 2024, putting it in the middle of the range.
Merchandise trade as a proportion of GDP in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 49.1% | — |
| 2001 | 51.5% | +4.9% |
| 2002 | 47.8% | -7.2% |
| 2003 | 45.0% | -5.9% |
| 2004 | 46.4% | +3.1% |
| 2005 | 47.1% | +1.4% |
| 2006 | 54.3% | +15.3% |
| 2007 | 52.5% | -3.3% |
| 2008 | 63.5% | +21.0% |
| 2009 | 58.0% | -8.7% |
| 2010 | 61.2% | +5.6% |
| 2011 | 66.2% | +8.1% |
| 2012 | 65.8% | -0.5% |
| 2013 | 61.7% | -6.3% |
| 2014 | 57.8% | -6.3% |
| 2015 | 56.7% | -1.9% |
| 2016 | 47.9% | -15.4% |
| 2017 | 47.3% | -1.4% |
| 2018 | 49.6% | +5.0% |
| 2019 | 47.2% | -4.9% |
| 2020 | 46.6% | -1.1% |
| 2021 | 52.6% | +12.8% |
| 2022 | 58.2% | +10.6% |
| 2023 | 51.3% | -11.9% |
| 2024 | 50.4% | -1.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 51.5% | 45.0% | 63.5% | 10 |
| 2010s | 56.1% | 47.2% | 66.2% | 10 |
| 2020s | 51.8% | 46.6% | 58.2% | 5 |
Countries ranked near Iceland
- 119 Canada 50.9% compare
- 120 Northern Mariana Islands 50.5% compare
- 121 Costa Rica 50.5% compare
- 123 Albania 50.3% compare
- 124 Saint Vincent and the Grenadines 48.7% compare
- 125 Kazakhstan 48.6% 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)
- Gross capital formation (constant 2015 US$), annual growth rate 5.88 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.1585 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 15,584 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 12.67 % change on previous year (2025)
- Imports of goods and services (current US$), per unit of GDP 0.4237 current US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per capita 41,663 current US$ per person (2025)
- Imports of goods and services (current LCU), annual growth rate 4.9 % change on previous year (2025)
- Imports of goods and services (current LCU), per unit of GDP 54.43 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is merchandise trade as a proportion of gdp in Iceland?
- Merchandise trade as a proportion of gdp in Iceland was 50.4% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest merchandise trade as a proportion of gdp recorded in Iceland?
- The highest recorded value was 66.2% in 2011.
- What is the lowest merchandise trade as a proportion of gdp recorded in Iceland?
- The lowest recorded value was 45.0% in 2003.
- How does Iceland rank for merchandise trade as a proportion of gdp?
- Iceland ranks 122nd out of 218 countries with data for 2024.
- Is merchandise trade as a proportion of gdp rising or falling in Iceland?
- Over the last ten years it is down 12.8%. The long-run trend across the full record is flat.
- Where does this Iceland data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Merchandise trade as a proportion of GDP (%). Statizoid updates them automatically from the source API.
Download this data
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