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Iceland

Iceland ranked No. 94 in total trade value through August with a total of $786.74 million. Exports totaled $473.91 million and Imports totaled $312.83 million, a surplus of $161.07 million.

January – August 2019

Top Trading Ports

Total Trade: $786.74 million

RankPortTotal YTD
1Seattle-Tacoma International Airport $149,557,039
2Port of Portland, Maine $130,818,971
3Port of Greater Baton Rouge, La. $117,562,779
4Low-Valued Imports and Exports $78,006,657
5Boston’s Logan International Airport $63,112,471
6John F. Kennedy International Airport $60,527,493
7Port of Corpus Christi, Texas $25,955,234
8Port of Newark $25,797,948
9Port of Virginia $14,133,678
10Cleveland’s Hopkins International Airport, Ohio $12,683,533

U.S. trade with Iceland rose to $786.74 million through August

Iceland’s trade with the United States rose to $786.74 million through the first eight months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 2.03 percent above its total trade during the same time period last year. U.S. exports to Iceland decreased 4.23 percent while U.S. imports from Iceland rose 13.25 percent. The U.S. surplus with Iceland was $161.07 million.

Through August, 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 Boston’s Logan International Airport. During the same period the previous year, the top five were No. 1 Seattle-Tacoma International Airport No. 2 Port of Portland, Maine No. 3 Low-Valued Imports and Exports No. 4 John F. Kennedy International Airport and No. 5 Boston’s Logan International Airport. In the current time period, the top five accounted for 68.52 percent of Iceland’s U.S. trade.

Among those top five:

  • Trade with No. 1 Seattle-Tacoma International Airport rose 3.64 percent to $149.56 million.
    Exports rose 3.65 percent to $145.02 million. Imports rose 3.26 percent to $4.54 million.
  • Trade with No. 2 Port of Portland, Maine fell 1.85 percent to $130.82 million.
    Exports fell 28.36 percent to $25.06 million. Imports rose 7.58 percent to $105.75 million.
  • Trade with No. 3 Port of Greater Baton Rouge, La. rose 277.51 percent to $117.56 million.
    Exports rose 277.51 percent to $117.56 million. There were no imports.
  • Trade with No. 4 Low-Valued Imports and Exports fell 1.12 percent to $78.01 million.
    Exports fell 1.12 percent to $78.01 million. There were no imports.
  • Trade with No. 5 Boston’s Logan International Airport rose 8.38 percent to $63.11 million.
    Exports rose 20.85 percent to $4.37 million. Imports rose 7.55 percent to $58.75 million.

Iceland ranked No. 94 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 95.

Meanwhile, total U.S. trade with the world increased to $2.77 trillion, down 0.32 percent compared to the same period last year. The nation’s exports dropped 0.71 percent to $1.1 trillion; imports dropped 0.07 percent to $1.67 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $575.47 billion, up compared to the same period of last year when the deficit was $568.8 billion.

The top five U.S. exports to Iceland by value through August were the categories of Civilian aircraft, parts; Gasoline, other fuels; Low value shipments; Motor vehicles for transporting people; and Value added to a returned import, respectively. They accounted for 82.67 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 68.44 percent of all inbound shipments.

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

  • Civilian aircraft, parts fell 14.51 percent compared to last year to $155.7 million.
  • Gasoline, other fuels rose 34.36 percent compared to last year to $143.57 million.
  • Low value shipments fell 1.12 percent compared to last year to $78.01 million.
  • Motor vehicles for transporting people rose 14.36 percent compared to last year to $7.93 million.
  • Value added to a returned import rose 582.37 percent compared to last year to $6.55 million.

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

  • Fish fillets, chilled or frozen rose 18.53 percent compared to last year to $144.24 million.
  • Orthopedic appliances, artificial body parts fell 0.18 percent compared to last year to $26.52 million.
  • Fish, fresh or chilled fell 16.81 percent compared to last year to $14.94 million.
  • X-ray apparatus rose 21.51 percent compared to last year to $14.85 million.
  • Natural waters rose 34.92 percent compared to last year to $13.56 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.