Share of products from least-developed countries that have no tariff in Iceland
Iceland: Share of products from least-developed countries that have no tariff was 76.5% in 2024. ▲ Rising
Share of products from least-developed countries that have no tariff in Iceland, 2005–2024
Source: UN Conference on Trade and Development and World Trade Organisation – processed by Our World in Data. Measured in %.
Analysis
In 2024, share of products from least-developed countries that have no tariff in Iceland stood at 76.5%.
Compared with earlier readings it is down 0.1% on the previous year and up 3.3% over ten years.
Over the whole period, share of products from least-developed countries that have no tariff in Iceland peaked at 76.5% in 2023 and was at its lowest, 60.8%, in 2005.
Iceland ranks 41st of 230 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 12 years of available data.
Share of products from least-developed countries that have no tariff in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 2005 | 60.8% | — |
| 2010 | 63.6% | +4.6% |
| 2015 | 74.0% | +16.4% |
| 2016 | 74.5% | +0.7% |
| 2017 | 75.1% | +0.8% |
| 2018 | 76.1% | +1.4% |
| 2019 | 73.0% | -4.1% |
| 2020 | 73.5% | +0.6% |
| 2021 | 74.8% | +1.8% |
| 2022 | 75.4% | +0.7% |
| 2023 | 76.5% | +1.5% |
| 2024 | 76.5% | -0.1% |
Iceland compared with similar countries
- Iceland's 76.5% is above the median for high income countries, which is 64.9%, 1.2× the median. (80 countries reporting)
- Iceland's 76.5% is above the median for Europe & Central Asia, which is 67.7%, 1.1× the median. (54 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 60.8% | 60.8% | 60.8% | 1 |
| 2010s | 72.7% | 63.6% | 76.1% | 6 |
| 2020s | 75.3% | 73.5% | 76.5% | 5 |
Countries ranked near Iceland
- 38 Cook Islands 77.3% compare
- 39 Cape Verde 76.9% compare
- 40 El Salvador 76.6% compare
- 42 Cyprus 76.3% compare
- 43 Singapore 76.2% compare
- 44 Jordan 76.1% 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -851.71 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0221 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -2,170 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -201.70 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -107.12 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0052 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -514.02 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.76 % change on previous year (2025)
Frequently asked questions
- What is share of products from least-developed countries that have no tariff in Iceland?
- Share of products from least-developed countries that have no tariff in Iceland was 76.5% in 2024, according to UN Conference on Trade and Development and World Trade Organisation – processed by Our World in Data.
- What is the highest share of products from least-developed countries that have no tariff recorded in Iceland?
- The highest recorded value was 76.5% in 2023.
- What is the lowest share of products from least-developed countries that have no tariff recorded in Iceland?
- The lowest recorded value was 60.8% in 2005.
- How does Iceland rank for share of products from least-developed countries that have no tariff?
- Iceland ranks 41st out of 230 countries with data for 2024.
- Is share of products from least-developed countries that have no tariff rising or falling in Iceland?
- Over the last ten years it is up 3.3%. The long-run trend across the full record is rising.
- Where does this Iceland data come from?
- The figures come from UN Conference on Trade and Development and World Trade Organisation – processed by Our World in Data, published as part of Share of products from least-developed countries that have no tariff. Statizoid updates them automatically from the source API.
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About this data
Proportion of tariff lines applied to imports with zero-tariff (%).