Merchandise Trade Balance in Iceland
The merchandise trade balance averaged a deficit of EUR 1.1 billion in the decade leading up to 2022. The 2022 reading stood at a deficit of EUR 2.1 billion. For more trade information, visit our dedicated page.
Iceland Trade Chart
Note: This chart displays Merchandise Trade Balance (EUR bn) for Iceland from 2024 to 2023.
Source: Macrobond.
Iceland Trade Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (EUR bn) | -0.6 | -0.9 | -1.4 | -2.0 | -2.2 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Icelandic trade projections for the next ten years from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable trade forecast available for Icelandic trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Icelandic trade projections.
Want to get access to the full dataset of Icelandic trade forecasts? Send an email to info@focus-economics.com.