Customs and other import duties (% of tax revenue) in Iceland
Iceland: Customs and other import duties (% of tax revenue) was 0.6% in 2023. ◆ Volatile
Customs and other import duties in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of tax revenue.
Analysis
In 2023, customs and other import duties in Iceland stood at 0.6%.
The figure is down 11.3% on the previous year and down 55.4% over ten years.
Over the whole period, customs and other import duties in Iceland peaked at 32.4% in 1973 and was at its lowest, 0.4%, in 2020.
Iceland ranks 129th of 151 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Customs and other import duties (% of tax revenue) in Iceland, year by year
| Year | % of tax revenue | Change |
|---|---|---|
| 1972 | 32.3% | — |
| 1973 | 32.4% | +0.5% |
| 1974 | 30.8% | -4.9% |
| 1975 | 25.2% | -18.3% |
| 1976 | 23.3% | -7.6% |
| 1977 | 24.6% | +5.7% |
| 1978 | 24.8% | +0.6% |
| 1979 | 21.9% | -11.4% |
| 1980 | 20.1% | -8.3% |
| 1981 | 20.7% | +2.9% |
| 1982 | 19.3% | -6.7% |
| 1983 | 18.1% | -6.3% |
| 1984 | 18.8% | +4.1% |
| 1985 | 17.1% | -9.0% |
| 1986 | 15.1% | -11.8% |
| 1987 | 15.1% | -0.4% |
| 1988 | 10.5% | -30.0% |
| 1989 | 10.4% | -1.5% |
| 1990 | 10.4% | -0.3% |
| 1991 | 11.4% | +10.0% |
| 1992 | 10.3% | -9.5% |
| 1993 | 6.3% | -38.8% |
| 1994 | 1.7% | -72.6% |
| 1995 | 1.7% | -3.2% |
| 1996 | 1.6% | -6.5% |
| 1997 | 1.6% | -1.0% |
| 1998 | 1.6% | +3.9% |
| 1999 | 1.5% | -6.6% |
| 2000 | 1.5% | +0.7% |
| 2001 | 1.7% | +9.2% |
| 2002 | 1.3% | -22.5% |
| 2003 | 1.3% | +0.7% |
| 2004 | 1.3% | -0.6% |
| 2005 | 1.2% | -4.7% |
| 2006 | 1.4% | +14.5% |
| 2007 | 1.5% | +7.9% |
| 2008 | 1.6% | +7.0% |
| 2009 | 1.6% | +1.2% |
| 2010 | 1.8% | +6.9% |
| 2011 | 2.0% | +14.6% |
| 2012 | 1.9% | -3.5% |
| 2013 | 1.4% | -29.6% |
| 2014 | 1.2% | -13.0% |
| 2015 | 1.0% | -19.7% |
| 2016 | 0.5% | -43.4% |
| 2017 | 0.6% | +15.0% |
| 2018 | 0.6% | +1.8% |
| 2019 | 0.5% | -18.0% |
| 2020 | 0.4% | -24.1% |
| 2021 | 0.6% | +49.7% |
| 2022 | 0.7% | +16.6% |
| 2023 | 0.6% | -11.3% |
Iceland compared with similar countries
- Iceland's 0.6% is below the median for high income countries, which is 0.7%, 87% of the median. (54 countries reporting)
- Iceland's 0.6% is below the median for Europe & Central Asia, which is 0.7%, 92% of the median. (47 countries reporting)
Biggest year-on-year movements
Years where Customs and other import duties (% of tax revenue) in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1994 | -72.6% | 6.3% | 1.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 26.9% | 21.9% | 32.4% | 8 |
| 1980s | 16.5% | 10.4% | 20.7% | 10 |
| 1990s | 4.8% | 1.5% | 11.4% | 10 |
| 2000s | 1.4% | 1.2% | 1.7% | 10 |
| 2010s | 1.1% | 0.5% | 2.0% | 10 |
| 2020s | 0.6% | 0.4% | 0.7% | 4 |
Countries ranked near Iceland
More public sector data for Iceland
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Military expenditure (current USD), per capita 0 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0 current USD per US$ of GDP (2024)
- Military expenditure (current USD), gaps filled 0 current USD (2024)
- Military expenditure (current USD), per square kilometre 0 current USD per square kilometre (2023)
Frequently asked questions
- What is customs and other import duties in Iceland?
- Customs and other import duties in Iceland was 0.6% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest customs and other import duties recorded in Iceland?
- The highest recorded value was 32.4% in 1973.
- What is the lowest customs and other import duties recorded in Iceland?
- The lowest recorded value was 0.4% in 2020.
- How does Iceland rank for customs and other import duties?
- Iceland ranks 129th out of 151 countries with data for 2023.
- Is customs and other import duties rising or falling in Iceland?
- Over the last ten years it is down 55.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Customs and other import duties (% of tax revenue). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 52 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Taxes and duties on imports are taxes on goods and services that become payable at the moment when goods enter the economic territory or when services are delivered by non-resident producers to residents. This indicator is expressed as a percentage of tax revenue which includes compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.