U.S.-Iceland Trade Facts
Iceland is currently our 95th largest goods trading partner with $1.1 billion in total (two way) goods trade during 2018. Goods exports totaled $655 million; goods imports totaled $430 million. The U.S. goods trade surplus with Iceland was $226 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 $655 million, up 64.1% ($256 million) from 2017 and up 39.6% from 2008.
The top export categories (2-digit HS) in 2018 were: aircraft ($199 million), mineral fuels ($176 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 $430 million in 2018, up 4.2% ($17 million) from 2017, and up 78.5% 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 $226 million in 2018.
U.S. foreign direct investment (FDI) in Iceland (stock) was $896 million in 2018. There is no information on the distribution of U.S. FDI in Iceland.
No data on Iceland's FDI in the U.S. are available. There is no information on the distribution of Iceland FDI in the U.S.
NOTE: No services trade data with Iceland are available.