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U.S.-Iceland Trade Facts
Iceland is currently our 96th largest goods trading partner with $1.1 billion in total (two way) goods trade during 2018. Goods exports totaled $644 million; goods imports totaled $431 million. The U.S. goods trade surplus with Iceland was $214 million in 2018.
According to the Department of Commerce, U.S. exports of goods to Iceland supported an estimated 1 thousand jobs in 2015 (latest data available).
- Iceland was the United States' 88th largest goods export market in 2018.
- U.S. goods exports to Iceland in 2018 were $644 million, up 61.4% ($245 million) from 2017 and up 37.2% from 2008.
- The top export categories (2-digit HS) in 2018 were: aircraft ($199 million), mineral fuels ($165 million), special other (low value estimates) ($118 million), optical and medical instruments ($28 million), and machinery ($21 million).
- U.S. total exports of agricultural products to Iceland totaled $26 million in 2018. Leading domestic export categories include: prepared food ($4 million), fresh fruit ($4 million), breakfast cereals ($2 million), condiments & sauces ($2 million), and other snack foods ($2 million).
- Iceland was the United States' 99th largest supplier of goods imports in 2018.
- U.S. goods imports from Iceland totaled $431 million in 2018, up 4.5% ($18 million) from 2017, and up 78.9% from 2008.
- The top import categories (2-digit HS) in 2018 were: fish and seafood (cod, haddock) ($226 million), optical and medical instruments ($73 million), beverages (water, ice, snow) ($26 million), machinery ($17 million), and iron and steel ($14 million).
- U.S. total imports of agricultural products from Iceland totaled $8 million in 2018. Leading categories include: red meats, fresh/chilled/frozen ($3 million), wine and beer ($2 million), snack foods ($888 thousand), other dairy products ($492 thousand), and feeds & fodders ($432 thousand).
- The U.S. trade balance with Iceland shifted from a goods trade deficit of $13 million in 2017 to a goods trade surplus of $214 million in 2018.
Data on U.S. FDI in Iceland are unavailable. There is no information on the distribution of U.S. FDI in Iceland.
Iceland's FDI in the United States (stock) was $7.1 billion in 2016 (latest data available). There is no information on the distribution of Iceland FDI in the U.S.
NOTE: No services trade data with Iceland are available.