Iceland: Imports of goods and services (% of GDP)
In , Iceland's Imports of goods and services (% of GDP) was 43.52.
That's up 0.6% from 2023, the highest value since .
The global average for this indicator in 2024 was 47.94 . Iceland ranks #77 globally out of 160 reporting countries. Within Europe & Central Asia, it ranks #34 of 49.
Source: World Bank Open Data (NE.IMP.GNFS.ZS) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 48.25
- Trough
- 34.52
- 1-year change
- +0.6%
- 5-year change
- +11.4%
- +2.2% / yr
- 10-year change
- -1.9%
- -0.2% / yr
Historical Data — Last 10 Years
| Year | Imports of goods and services (% of GDP) |
|---|---|
| 43.5152 | |
| 43.2590 | |
| 46.3071 | |
| 38.8668 | |
| 34.5163 | |
| 39.0785 | |
| 42.4631 | |
| 40.6874 | |
| 40.2710 | |
| 43.5540 |
About Imports of goods and services (% of GDP)
Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Indicator code: NE.IMP.GNFS.ZS • Category: Economy
Frequently asked questions
- What was Iceland's Imports of goods and services (% of GDP) in 2024?
- In 2024, Iceland's Imports of goods and services (% of GDP) was 43.52, according to World Bank Open Data.
- Is Iceland's Imports of goods and services (% of GDP) rising or falling?
- Iceland's Imports of goods and services (% of GDP) rose 0.6% from 2023 to 2024.
- How does Iceland rank globally on Imports of goods and services (% of GDP)?
- In 2024, Iceland ranked #77 out of 160 countries reporting Imports of goods and services (% of GDP).
- How does Iceland's Imports of goods and services (% of GDP) compare to the world average?
- The global average for Imports of goods and services (% of GDP) in 2024 was 47.94, so Iceland is below the world average. Within Europe & Central Asia, it ranks #34 of 49.
- What is Imports of goods and services (% of GDP) and how is it measured?
- Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Source: World Bank Open Data (NE.IMP.GNFS.ZS), CC BY 4.0.