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Iceland - Trade Openness 1971

Name: Iceland Trade Openness 1971
Creator: World Bank
License: https://creativecommons.org/licenses/by/4.0/

Trade as % of GDP · World Bank

77.52% −6.61% from 1970 Global rank: 79th

Iceland's trade openness was 77.52% in 1971, decreased +6.61% from 84.13% in 1970. This was the 79th highest globally.

Global Ranking - 1971▾

Trade Openness by Country - 1971
Rank	Country	Value	YoY
1st	China	4.95%	2.5%
2nd	India	7.67%	0.1%
3rd	United States	10.76%	0.0%
4th	Argentina	12.62%	22.0%
5th	Türkiye	13.57%	25.8%
6th	Nepal	14.53%	10.0%
7th	Brazil	14.65%	1.2%
8th	Mexico	16.36%	-6.0%
9th	Bangladesh	17.02%	-18.3%
10th	Pakistan	18.20%	1.3%
11th	Japan	19.49%	1.8%
12th	Uruguay	21.72%	-25.4%
13th	Chile	22.62%	-19.1%
14th	Greece	22.67%	0.9%
15th	Burkina Faso	25.44%	17.8%
16th	Australia	25.52%	-2.3%
17th	Spain	25.93%	0.3%
18th	Rwanda	27.08%	1.3%
19th	Ecuador	27.27%	21.5%
20th	Niger	27.97%	-3.1%
21st	Colombia	27.98%	0.6%
22nd	Peru	28.61%	-13.3%
23rd	Paraguay	29.32%	-5.5%
24th	Italy	30.33%	1.0%
25th	Germany	30.73%	-2.7%
26th	Egypt, Arab Republic of	31.02%	1.2%
27th	Indonesia	31.06%	8.3%
28th	Somalia, Fed. Rep.	31.65%	20.8%
29th	Sudan	32.82%	0.2%
30th	France	33.48%	1.8%
31st	Mali	33.63%	9.7%
32nd	Thailand	34.80%	1.2%
33rd	Korea	35.29%	9.5%
34th	Madagascar	35.47%	-12.9%
35th	Guatemala	35.98%	-1.0%
36th	Ghana	36.00%	-18.3%
37th	Morocco	36.68%	-6.5%
38th	Chad	36.97%	-3.5%
39th	Guinea-Bissau	38.47%	12.5%
40th	Senegal	39.68%	0.8%
41st	Syrian Arab Republic	39.69%	2.9%
42nd	European Union	39.81%	-0.9%
43rd	South Africa	40.50%	1.8%
44th	Canada	40.69%	-1.9%
45th	United Kingdom	42.65%	-0.8%
46th	Sweden	43.24%	-2.5%
47th	Uganda	43.77%	0.7%
48th	New Zealand	44.19%	-6.3%
49th	Iran, Islamic Republic of	44.43%	12.0%
50th	Portugal	44.67%	3.4%
51st	Benin	45.62%	15.1%
52nd	Dominican Republic	45.72%	-0.4%
53rd	Bolivia, Plurinational State of	45.79%	-6.5%
54th	Algeria	46.11%	-10.0%
55th	Finland	47.44%	-4.0%
56th	Tunisia	48.54%	3.8%
57th	Mauritania	48.88%	-1.4%
58th	Cameroon	50.18%	-1.4%
59th	Sri Lanka	51.22%	-5.2%
60th	El Salvador	51.25%	3.8%
61st	Austria	54.59%	-0.9%
62nd	Nicaragua	54.84%	-1.9%
63rd	Denmark	55.67%	-2.6%
64th	Israel	58.99%	1.2%
65th	Côte d'Ivoire	60.64%	-6.5%
66th	Togo	61.54%	2.8%
67th	Sierra Leone	63.65%	5.6%
68th	Kenya	63.83%	5.5%
69th	Costa Rica	63.90%	2.4%
70th	Iraq	66.65%	15.9%
71st	Central African Republic	67.22%	-8.5%
72nd	Lesotho	67.64%	10.7%
73rd	Gambia, The	69.55%	-11.6%
74th	Norway	69.70%	-1.8%
75th	Honduras	69.79%	-6.9%
76th	Saudi Arabia	71.90%	-0.6%
77th	Ireland	72.20%	-3.0%
78th	Cuba	76.81%	0.0%
79th	Iceland	77.52%	-7.9%
80th	Switzerland	78.64%	-5.1%
81st	Faroe Islands	78.79%	4.7%
82nd	Malaysia	79.49%	-8.5%
83rd	Papua New Guinea	79.61%	9.9%
84th	Puerto Rico (US)	82.81%	-
85th	Kuwait	85.01%	1.3%
86th	Congo, Republic of	85.23%	-7.9%
87th	Netherlands	85.42%	-1.2%
88th	Belgium	85.58%	-2.4%
89th	Botswana	94.71%	10.7%
90th	Oman	97.92%	4.9%
91st	Guyana	113.10%	-0.3%
92nd	Malta	114.45%	-0.9%
93rd	Panama	115.05%	-2.0%
94th	Gabon	118.65%	35.3%
95th	Luxembourg	168.22%	4.6%
96th	Hong Kong SAR, China	174.51%	-2.3%
97th	Singapore	259.30%	-4.3%

FAQ

What was Iceland's trade openness in 1971?▾

Iceland's trade openness in 1971 was 77.52%. This ranked 79th globally.

How did Iceland's trade openness change in 1971?▾

Iceland's trade openness decreased by 7.9% in 1971 compared to 1970.

Which country had the highest trade openness in 1971?▾

Singapore had the highest trade openness in 1971 at 259.30%.

What is the trade openness of Iceland in 1971?▾

The trade openness of Iceland in 1971 was 77.52%. This ranked 79th globally.

How does 1971 compare to 1970 for Iceland's trade openness?▾

Iceland's trade openness went from 84.13% in 1970 to 77.52% in 1971, a 7.9% decrease.

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