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Iceland

Iceland ranked No. 95 in total trade value through October with a total of $954.04 million. Exports totaled $605.34 million and Imports totaled $348.7 million, a surplus of $256.64 million.

January – October 2018

Top Trading Ports

Total Trade: $954.04 million

RankPortTotal YTD
1Port of Portland, Maine $170,768,406
2Seattle-Tacoma International Airport $144,921,527
3Low-Valued Imports and Exports $105,204,213
4John F. Kennedy International Airport $93,215,157
5Boston’s Logan International Airport $71,536,972
6Port of Port Arthur, Texas $56,087,455
7Port of Corpus Christi, Texas $54,825,000
8Port of Greater Baton Rouge, La. $34,215,148
9Port of Bangor, Maine $25,282,925
10Port of Newark $21,421,934

U.S. trade with Iceland rose to $954.04 million through October

Iceland’s trade with the United States rose to $954.04 million through the first 10 months of 2018, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 45.44 percent above its total trade during the same time period last year. Iceland’s exports increased 94.41 percent while imports rose 1.19 percent. The U.S. surplus with Iceland was $256.64 million.

Through October, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Portland, Maine; No. 2 Seattle-Tacoma International Airport; No. 3 Low-Valued Imports and Exports; No. 4 John F. Kennedy International Airport; and No. 5 Boston’s Logan International Airport. During the same period the previous year, the top five were No. 1 Port of Portland, Maine No. 2 John F. Kennedy International Airport No. 3 Low-Valued Imports and Exports No. 4 Port of Greater Baton Rouge, La. and No. 5 Boston’s Logan International Airport. In the current time period, the top five accounted for 61.39 percent of Iceland’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Portland, Maine rose 0.87 percent to $170.77 million.
    Exports fell 1.99 percent to $46.99 million. Imports rose 2 percent to $123.77 million.
  • Trade with No. 2 Seattle-Tacoma International Airport rose 3466.68 percent to $144.92 million.
    Exports rose 10174 percent to $139.98 million. Imports rose 82.91 percent to $4.94 million.
  • Trade with No. 3 Low-Valued Imports and Exports rose 44.41 percent to $105.2 million.
    Exports rose 44.41 percent to $105.2 million. There were no imports.
  • Trade with No. 4 John F. Kennedy International Airport fell 3.24 percent to $93.22 million.
    Exports rose 16.37 percent to $40.78 million. Imports fell 14.46 percent to $52.44 million.
  • Trade with No. 5 Boston’s Logan International Airport rose 51.26 percent to $71.54 million.
    Exports rose 403.48 percent to $4.87 million. Imports rose 43.91 percent to $66.67 million.

Iceland ranked No. 95 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 102.

Meanwhile, total U.S. trade with the world increased to $3.51 trillion, up 9.44 percent compared to the same period last year. The nation’s exports climbed 8.95 percent to $1.39 trillion; imports climbed 9.77 percent to $2.12 trillion. The nation’s top five countries so far this year, by value, are China; Canada; Mexico; Japan and Germany. The overall trade deficit was $732.48 billion, up compared to the same period of last year when the deficit was $657.79 billion.

The top five U.S. exports to Iceland by value through October were the categories of Civilian aircraft, parts; Gasoline, other fuels; Low value shipments; Meteorological, hydraulic and survey equipment; and Defense-related aircraft, parts, respectively. They accounted for 77.1 percent of total exports to Iceland.

The value of the top five categories of U.S. imports from Iceland –– Fish fillets, chilled or frozen; Orthopedic appliances, artificial body parts; Fish, fresh or chilled; X-ray apparatus; and Natural waters –– accounted for 67.17 percent of all inbound shipments.

Looking more closely at U.S. exports to Iceland:

  • Civilian aircraft, parts rose 1338.77 percent compared to last year to $184.19 million.
  • Gasoline, other fuels rose 177.83 percent compared to last year to $151.38 million.
  • Low value shipments rose 44.41 percent compared to last year to $105.2 million.
  • Meteorological, hydraulic and survey equipment rose 171.7 percent compared to last year to $13.8 million.
  • Defense-related aircraft, parts rose 9.37 percent compared to last year to $12.17 million.

Looking more closely at U.S. imports from Iceland:

  • Fish fillets, chilled or frozen rose 13.12 percent compared to last year to $151.43 million.
  • Orthopedic appliances, artificial body parts rose 8.92 percent compared to last year to $35.21 million.
  • Fish, fresh or chilled rose 47.63 percent compared to last year to $20.27 million.
  • X-ray apparatus fell 7.93 percent compared to last year to $15.25 million.
  • Natural waters rose 11.28 percent compared to last year to $12.05 million.

In the latest annual figures available, Iceland recorded $809.6 million in trade with the United States. At year’s end, its were Portland, Maine; New York City; Low Value Shipments; New Orleans; and Boston. Total U.S. exports to Iceland were $ 396.78 million and imports from Iceland were $412.82 million. The U.S. deficit with Iceland was $16.04 million.