Imports to Iceland advanced by 32% year-on-year to ISK 133.2 billion in December 2024, driven by higher purchases of capital goods (102%), industrial supplies (41%), and food & beverages (28%). Imports in Iceland averaged 22092.32 ISK Million from 1960 until 2024, reaching an all time high of 135817.00 ISK Million in October of 2022 and a record low of 1.20 ISK Million in January of 1960. source: Statistics Iceland

Related	Last	Previous	Unit	Reference
Balance of Trade	-46651.71	-31930.44	ISK Million	Dec 2024
Capital Flows	38731.00	-50839.00	ISK Million	Sep 2024
Current Account	45741.00	-38255.00	ISK Million	Sep 2024
Current Account to GDP	1.10	-2.10	percent of GDP	Dec 2023
Exports	86597.32	83348.94	ISK Million	Dec 2024
Exports by Category
Exports by Country
External Debt	3404193.00	3363245.00	ISK Million	Sep 2024
Foreign Direct Investment	37419.00	7671.00	ISK Million	Sep 2024
Gold Reserves	1.98	1.98	Tonnes	Sep 2024
Imports	133249.00	115279.40	ISK Million	Dec 2024
Imports by Category
Imports by Country
Remittances	2917.00	2718.00	ISK Million	Sep 2024
Terrorism Index	0.23	0.00	Points	Dec 2023
Tourist Arrivals	142448.00	162273.00		Dec 2024

Iceland Imports

In Iceland, the total value of imports of goods in 2021 was ISK 222.8 billion, 28.9% higher than in 2020. The increase is mainly in transport equipment and capital goods. The largest import categories were industrial supplies (28.8%) and capital goods (22.2%). The largest trading countries in imports of goods for the year 2021 were Norway, China and Germany. Over 58% of the total value of imports came from EEA countries.