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Iceland

Iceland ranked No. 86 in total trade value through February with a total of $248.53 million. Exports totaled $173.63 million and Imports totaled $74.89 million, a surplus of $98.74 million.

January – February 2019

Top Trading Ports

Total Trade: $248.53 million

RankPortTotal YTD
1Seattle-Tacoma International Airport $98,224,055
2Port of Portland, Maine $32,136,021
3Port of Greater Baton Rouge, La. $30,500,631
4Low-Valued Imports and Exports $18,403,121
5John F. Kennedy International Airport $17,882,096
6Boston’s Logan International Airport $11,408,170
7Port of Virginia $4,824,427
8Philadelphia International Airport $4,346,357
9Port of Newark $4,340,180
10Cleveland’s Hopkins International Airport, Ohio $3,002,740

U.S. trade with Iceland rose to $248.53 million through February

Iceland’s trade with the United States rose to $248.53 million through the first two months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 108.71 percent above its total trade during the same time period last year. Iceland’s exports increased 329.83 percent while imports fell 4.81 percent. The U.S. surplus with Iceland was $98.74 million.

Through February, the top five among the nation’s airports, seaports and border crossings were No. 1 Seattle-Tacoma International Airport; No. 2 Port of Portland, Maine; No. 3 Port of Greater Baton Rouge, La.; No. 4 Low-Valued Imports and Exports; and No. 5 John F. Kennedy 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 Boston’s Logan International Airport No. 4 Low-Valued Imports and Exports and No. 5 Port of Newark. In the current time period, the top five accounted for 79.33 percent of Iceland’s U.S. trade.

Among those top five:

  • Trade with No. 1 Seattle-Tacoma International Airport rose 6445.3 percent to $98.22 million.
    Exports rose 43951 percent to $96.83 million. Imports rose 8.91 percent to $1.4 million.
  • Trade with No. 2 Port of Portland, Maine fell 4.47 percent to $32.14 million.
    Exports fell 8.61 percent to $4.41 million. Imports fell 3.78 percent to $27.72 million.
  • Trade with No. 3 Port of Greater Baton Rouge, La. totaled $30.5 million.
    Exports totaled $30.5 million. There were no imports.
  • Trade with No. 4 Low-Valued Imports and Exports rose 106.99 percent to $18.4 million.
    Exports rose 106.99 percent to $18.4 million. There were no imports.
  • Trade with No. 5 John F. Kennedy International Airport fell 19.08 percent to $17.88 million.
    Exports fell 11.14 percent to $7.35 million. Imports fell 23.83 percent to $10.53 million.

Iceland ranked No. 86 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 107.

Meanwhile, total U.S. trade with the world increased to $650.55 billion, up 1.11 percent compared to the same period last year. The nation’s exports climbed 2.61 percent to $260.05 billion; imports climbed 0.14 percent to $390.5 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $130.45 billion, down compared to the same period of last year when the deficit was $136.53 billion.

The top five U.S. exports to Iceland by value through February were the categories of Civilian aircraft, parts; Gasoline, other fuels; Low value shipments; Medicines in individual dosages; and Cell phones, related equipment, respectively. They accounted for 89.06 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; X-ray apparatus; Ferroalloys 7202; and Fish, fresh or chilled –– accounted for 72.3 percent of all inbound shipments.

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

  • Civilian aircraft, parts rose 4519.66 percent compared to last year to $100.09 million.
  • Gasoline, other fuels rose 170916 percent compared to last year to $30.5 million.
  • Low value shipments rose 106.99 percent compared to last year to $18.4 million.
  • Medicines in individual dosages rose 6070.24 percent compared to last year to $4.13 million.
  • Cell phones, related equipment rose 121.07 percent compared to last year to $1.51 million.

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

  • Fish fillets, chilled or frozen rose 11.65 percent compared to last year to $34.6 million.
  • Orthopedic appliances, artificial body parts rose 0.53 percent compared to last year to $6.82 million.
  • X-ray apparatus fell 0.98 percent compared to last year to $4.79 million.
  • Ferroalloys 7202 rose 186.77 percent compared to last year to $4.41 million.
  • Fish, fresh or chilled fell 49.22 percent compared to last year to $3.53 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.