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Iceland - Trade Balance 2021

Name: Iceland Trade Balance 2021
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

External balance on goods and services · World Bank

$-394.0M −$310.8M from 2020 Global rank: 84th

Iceland's trade balance was $-394.0M in 2021, decreased +$310.8M from $-83.2M in 2020. This was the 84th highest globally.

Global Ranking - 2021▾

Trade Balance by Country - 2021
Rank	Country	Value	YoY
1st	United States	$-860.0B	-37.3%
2nd	India	$-83.1B	-690.5%
3rd	Philippines	$-47.2B	-68.1%
4th	Egypt, Arab Republic of	$-37.1B	-34.6%
5th	France	$-36.0B	21.2%
6th	Pakistan	$-31.1B	-27.6%
7th	Bangladesh	$-26.6B	-32.2%
8th	Japan	$-26.2B	-92.9%
9th	Mexico	$-25.4B	-240.3%
10th	Colombia	$-24.4B	-28.8%
11th	Greece	$-16.4B	-15.6%
12th	Romania	$-16.2B	-46.3%
13th	Morocco	$-13.1B	-49.2%
14th	Nepal	$-12.1B	-32.7%
15th	Guatemala	$-12.1B	-84.3%
16th	Uzbekistan	$-11.5B	-41.4%
17th	New Zealand	$-10.0B	-702.0%
18th	Kenya	$-9.6B	-27.3%
19th	Jordan	$-9.5B	-18.4%
20th	Dominican Republic	$-8.4B	-50.4%
21st	Portugal	$-7.1B	-55.1%
22nd	El Salvador	$-7.1B	-62.6%
23rd	West Bank and Gaza	$-7.0B	-22.4%
24th	Honduras	$-6.9B	-82.8%
25th	Sri Lanka	$-6.5B	-25.6%
26th	Lebanon	$-6.2B	-12.4%
27th	Senegal	$-5.5B	-20.9%
28th	Mozambique	$-5.1B	-3.8%
29th	Serbia	$-5.1B	-11.8%
30th	Haiti	$-4.8B	-49.0%
31st	Tunisia	$-4.7B	-33.6%
32nd	Somalia, Fed. Rep.	$-4.4B	-6.3%
33rd	Syrian Arab Republic	$-4.3B	-106.2%
34th	Uganda	$-4.1B	-77.3%
35th	Moldova	$-3.7B	-37.7%
36th	Guam	$-3.5B	-15.3%
37th	Afghanistan	$-3.2B	37.2%
38th	Georgia	$-3.1B	-0.2%
39th	Kosovo	$-3.0B	-20.5%
40th	Chile	$-2.8B	-124.7%
41st	Kyrgyz Republic	$-2.6B	-61.6%
42nd	Ukraine	$-2.6B	-11.4%
43rd	Bosnia and Herzegovina	$-2.6B	2.7%
44th	Niger	$-2.5B	-15.2%
45th	Namibia	$-2.4B	-140.4%
46th	Albania	$-2.4B	-9.2%
47th	Malawi	$-2.4B	-6.0%
48th	Mali	$-2.3B	-90.0%
49th	North Macedonia	$-2.2B	-41.2%
50th	Tajikistan	$-2.1B	-22.2%
51st	New Caledonia	$-2.1B	-19.4%
52nd	Ghana	$-2.1B	16.3%
53rd	Nicaragua	$-1.9B	-190.7%
54th	Croatia	$-1.9B	53.1%
55th	Zimbabwe	$-1.9B	-156.2%
56th	Rwanda	$-1.7B	-0.7%
57th	Cameroon	$-1.7B	-25.5%
58th	Mauritius	$-1.6B	-31.9%
59th	French Polynesia	$-1.6B	-4.6%
60th	Madagascar	$-1.3B	-13.8%
61st	Latvia	$-1.2B	-353.0%
62nd	Bahamas, The	$-1.2B	-68.8%
63rd	Tanzania	$-1.2B	-87.5%
64th	Montenegro	$-1.1B	32.1%
65th	Lesotho	$-1.1B	-5.5%
66th	Benin	$-1.1B	-37.8%
67th	Armenia	$-1.1B	12.9%
68th	Botswana	$-925.1M	59.0%
69th	Togo	$-863.5M	-29.2%
70th	Mauritania	$-792.7M	-142.1%
71st	Sierra Leone	$-791.8M	-9.3%
72nd	Thailand	$-679.1M	-102.6%
73rd	Hungary	$-668.4M	-125.6%
74th	Northern Mariana Islands	$-611.0M	-42.8%
75th	Cabo Verde	$-610.5M	-20.5%
76th	Gambia, The	$-581.4M	-13.8%
77th	Slovak Republic	$-549.2M	-148.0%
78th	Cambodia	$-536.3M	31.9%
79th	Bhutan	$-531.2M	-37.7%
80th	Greenland	$-512.9M	-54.7%
81st	Guinea	$-470.8M	84.7%
82nd	Estonia	$-461.3M	-33.8%
83rd	Central African Republic	$-445.5M	0.1%
84th	Iceland	$-394.0M	-373.6%
85th	Vanuatu	$-388.2M	-29.5%
86th	Côte d'Ivoire	$-379.6M	-1,459.5%
87th	American Samoa	$-362.0M	-39.8%
88th	Seychelles	$-345.7M	-22.6%
89th	Samoa	$-316.6M	-90.9%
90th	Mongolia	$-305.8M	-192.5%
91st	Comoros	$-282.9M	-3.7%
92nd	Bolivia, Plurinational State of	$-269.1M	83.1%
93rd	Tonga	$-240.9M	-12.0%
94th	Solomon Islands	$-223.0M	-234.2%
95th	Kiribati	$-191.0M	-50.2%
96th	Guinea-Bissau	$-185.7M	8.8%
97th	Micronesia, Federated States of	$-184.0M	2.6%
98th	Palau	$-156.7M	-4.7%
99th	Aruba	$-140.5M	63.5%
100th	Antigua and Barbuda	$-114.6M	22.8%
101st	Belize	$-92.8M	28.9%
102nd	Nauru	$-86.2M	-44.6%
103rd	Marshall Islands	$-73.4M	17.6%
104th	Eswatini	$-33.9M	-125.7%
105th	Virgin Islands (US)	$12.0M	100.8%
106th	Faroe Islands	$17.5M	139.1%
107th	Algeria	$96.2M	100.6%
108th	Sudan	$127.4M	59.5%
109th	Finland	$159.7M	-75.8%
110th	Congo, Democratic Republic of	$160.6M	125.7%
111th	San Marino	$485.4M	30.9%
112th	Paraguay	$492.2M	-63.3%
113th	Maldives	$503.7M	175.9%
114th	Burkina Faso	$625.2M	25.3%
115th	Djibouti	$745.7M	178.2%
116th	Ecuador	$933.2M	-62.2%
117th	Timor-Leste	$984.8M	498.8%
118th	Costa Rica	$1.0B	-55.5%
119th	United Kingdom	$1.3B	-93.6%
120th	Cyprus	$1.4B	505.4%
121st	Chad	$1.5B	404.4%
122nd	Equatorial Guinea	$1.6B	336.0%
123rd	Bermuda	$1.8B	3.0%
124th	Brunei Darussalam	$1.9B	248.7%
125th	Panama	$2.1B	-5.2%
126th	Canada	$2.1B	105.7%
127th	Bulgaria	$2.1B	17.7%
128th	Congo, Republic of	$3.0B	114.5%
129th	Lithuania	$3.0B	-42.7%
130th	Turkmenistan	$3.3B	2,739.6%
131st	Malta	$3.4B	18.9%
132nd	Slovenia	$3.5B	-28.1%
133rd	Viet Nam	$3.8B	-80.4%
134th	Macao SAR, China	$3.8B	14,568.3%
135th	Belarus	$3.9B	107.6%
136th	Zambia	$4.0B	56.0%
137th	Türkiye	$4.2B	119.6%
138th	Austria	$4.2B	-71.4%
139th	Uruguay	$4.6B	84.9%
140th	Iran, Islamic Republic of	$5.6B	127.9%
141st	Peru	$6.9B	92.5%
142nd	Libya	$7.0B	245.4%
143rd	Gabon	$7.1B	84.6%
144th	Bahrain	$7.7B	292.2%
145th	Azerbaijan	$9.2B	2,880.9%
146th	Oman	$9.4B	451.5%
147th	Brazil	$9.4B	5.2%
148th	Czechia	$10.8B	-36.0%
149th	Belgium	$11.2B	46.3%
150th	Puerto Rico (US)	$12.9B	-27.5%
151st	Israel	$13.4B	5.3%
152nd	Angola	$13.8B	166.7%
153rd	Spain	$14.5B	-26.0%
154th	Argentina	$14.9B	28.1%
155th	Kazakhstan	$17.0B	146.4%
156th	Hong Kong SAR, China	$20.5B	208.7%
157th	Poland	$22.1B	-35.1%
158th	Sweden	$24.4B	9.2%
159th	Denmark	$24.7B	23.4%
160th	South Africa	$26.1B	75.9%
161st	Malaysia	$27.0B	25.8%
162nd	Iraq	$27.6B	779.4%
163rd	Luxembourg	$29.1B	18.8%
164th	Indonesia	$31.2B	74.2%
165th	Kuwait	$31.8B	429.3%
166th	Qatar	$44.3B	273.6%
167th	Italy	$44.5B	-33.6%
168th	Australia	$59.3B	31.8%
169th	Korea	$65.5B	1.9%
170th	Saudi Arabia	$73.0B	10,891.9%
171st	Norway	$74.7B	2,278.6%
172nd	United Arab Emirates	$77.6B	46.3%
173rd	Switzerland	$99.6B	109.7%
174th	Netherlands	$102.8B	7.5%
175th	Singapore	$158.3B	43.8%
176th	Russian Federation	$172.3B	127.3%
177th	Ireland	$221.5B	143.7%
178th	Germany	$223.0B	6.6%
179th	China	$460.8B	29.8%

FAQ

What was Iceland's trade balance in 2021?▾

Iceland's trade balance in 2021 was $-394.0M. This ranked 84th globally.

How did Iceland's trade balance change in 2021?▾

Iceland's trade balance decreased by 373.6% in 2021 compared to 2020.

Which country had the highest trade balance in 2021?▾

China had the highest trade balance in 2021 at $460.8B.

What is the trade balance of Iceland in 2021?▾

The trade balance of Iceland in 2021 was $-394.0M. This ranked 84th globally.

How does 2021 compare to 2020 for Iceland's trade balance?▾

Iceland's trade balance went from $-83.2M in 2020 to $-394.0M in 2021, a 373.6% decrease.

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