Iceland: Trade (% of GDP)
In , Iceland's Trade (% of GDP) was 85.97.
That's down 1.6% from 2023, the highest value since .
The global average for this indicator in 2024 was 92.19 . Iceland ranks #74 globally out of 160 reporting countries. Within Europe & Central Asia, it ranks #33 of 49.
Source: World Bank Open Data (NE.TRD.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
- 102.43
- Trough
- 68.66
- 1-year change
- -1.6%
- 5-year change
- +2.6%
- +0.5% / yr
- 10-year change
- -9.8%
- -1.0% / yr
Historical Data — Last 10 Years
| Year | Trade (% of GDP) |
|---|---|
| 85.9672 | |
| 87.4049 | |
| 93.0487 | |
| 76.2317 | |
| 68.6550 | |
| 83.7924 | |
| 88.9350 | |
| 86.3585 | |
| 87.7600 | |
| 94.8888 |
About Trade (% of GDP)
Trade is the sum of exports and imports of goods and services. 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.TRD.GNFS.ZS • Category: Economy
Frequently asked questions
- What was Iceland's Trade (% of GDP) in 2024?
- In 2024, Iceland's Trade (% of GDP) was 85.97, according to World Bank Open Data.
- Is Iceland's Trade (% of GDP) rising or falling?
- Iceland's Trade (% of GDP) fell 1.6% from 2023 to 2024.
- How does Iceland rank globally on Trade (% of GDP)?
- In 2024, Iceland ranked #74 out of 160 countries reporting Trade (% of GDP).
- How does Iceland's Trade (% of GDP) compare to the world average?
- The global average for Trade (% of GDP) in 2024 was 92.19, so Iceland is below the world average. Within Europe & Central Asia, it ranks #33 of 49.
- What is Trade (% of GDP) and how is it measured?
- Trade is the sum of exports and imports of goods and services. 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.TRD.GNFS.ZS), CC BY 4.0.