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Iceland

Iceland ranked No. 96 in total trade value through October with a total of $917.86 million. Exports totaled $508.42 million and Imports totaled $409.43 million, a surplus of $98.99 million.

January – October 2019

Top Trading Ports

Total Trade: $917.86 million

RankPortTotal YTD
1Port of Portland, Maine $163,371,836
2Seattle-Tacoma International Airport $150,793,016
3Port of Greater Baton Rouge, La. $117,562,779
4Low-Valued Imports and Exports $85,972,875
5John F. Kennedy International Airport $79,477,124
6Boston’s Logan International Airport $75,194,614
7Port of Newark $31,140,473
8Port of Corpus Christi, Texas $25,955,234
9Port of Virginia $20,847,391
10Port of Bangor, Maine $19,228,043

U.S. trade with Iceland rose to $917.86 million through October

Iceland’s trade with the United States rose to $917.86 million through the first 10 months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 3.79 percent below its total trade during the same time period last year. U.S. exports to Iceland decreased 16.01 percent while U.S. imports from Iceland rose 17.42 percent. The U.S. surplus with Iceland was $98.99 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 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 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. In the current time period, the top five accounted for 65.06 percent of Iceland’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Portland, Maine fell 4.33 percent to $163.37 million.
    Exports fell 31.28 percent to $32.3 million. Imports rose 5.9 percent to $131.08 million.
  • Trade with No. 2 Seattle-Tacoma International Airport rose 4.05 percent to $150.79 million.
    Exports rose 3.82 percent to $145.32 million. Imports rose 10.75 percent to $5.47 million.
  • Trade with No. 3 Port of Greater Baton Rouge, La. rose 243.6 percent to $117.56 million.
    Exports rose 243.6 percent to $117.56 million. There were no imports.
  • Trade with No. 4 Low-Valued Imports and Exports fell 18.28 percent to $85.97 million.
    Exports fell 18.28 percent to $85.97 million. There were no imports.
  • Trade with No. 5 John F. Kennedy International Airport fell 14.74 percent to $79.48 million.
    Exports fell 22.62 percent to $31.56 million. Imports fell 8.61 percent to $47.92 million.

Iceland ranked No. 96 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 $3.47 trillion, down 1.09 percent compared to the same period last year. The nation’s exports dropped 1.23 percent to $1.37 trillion; imports dropped 1 percent to $2.1 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 $724.64 billion, down compared to the same period of last year when the deficit was $728.68 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; Motor vehicles for transporting people; and Value added to a returned import, respectively. They accounted for 79.82 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; Value added to a returned import; X-ray apparatus; and Fish, fresh or chilled –– accounted for 67.97 percent of all inbound shipments.

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

  • Civilian aircraft, parts fell 14.54 percent compared to last year to $157.4 million.
  • Gasoline, other fuels fell 5.14 percent compared to last year to $143.6 million.
  • Low value shipments fell 18.28 percent compared to last year to $85.97 million.
  • Motor vehicles for transporting people fell 2.71 percent compared to last year to $10.16 million.
  • Value added to a returned import rose 399.68 percent compared to last year to $8.68 million.

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

  • Fish fillets, chilled or frozen rose 17.21 percent compared to last year to $177.49 million.
  • Orthopedic appliances, artificial body parts fell 0.82 percent compared to last year to $34.92 million.
  • Value added to a returned import rose 271.78 percent compared to last year to $26.84 million.
  • X-ray apparatus rose 35.64 percent compared to last year to $20.69 million.
  • Fish, fresh or chilled fell 9.42 percent compared to last year to $18.36 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.

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