Iceland Trade Summary
U.S. goods and services trade with Iceland totaled an estimated $4.7 billion in 2024, up 41.6 percent ($1.4 billion) from 2023.
U.S. goods trade with Iceland totaled an estimated $1.8 billion in 2025. U.S. goods exports to Iceland in 2025 were $759.1 million, down 23.4 percent ($231.8 million) from 2024. U.S. goods imports from Iceland totaled $1.0 billion in 2025, down 6.1 percent ($65.5 million) from 2024. The U.S. goods trade deficit with Iceland was $248 million in 2025, a 203.9 percent increase ($166.4 million) over 2024.
U.S. total services trade (exports plus imports) with Iceland totaled an estimated $2.6 billion in 2024. U.S. services exports to Iceland in 2024 were $467 million, up 13.3 percent ($55 million) from 2023. U.S. services imports from Iceland in 2024 were $2.1 billion, up 13.9 percent ($260 million) from 2023. The U.S. services trade deficit with Iceland was $1.7 billion in 2024, a 14.0 percent increase ($204 million) over 2023.
