Customs and other import duties in Iceland
Iceland: Customs and other import duties 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 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% |
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
- 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)
- Tax revenue 23.2% (2023)
- Capital stock, General government, Current prices, Domestic currency 1,595 (2019)
- Taxes on income, profits and capital gains 34.6% (2023)
- Capital stock, General government, Constant prices, Percent of GDP 51.25 (2019)
- Capital stock, General government, Constant prices, Purchasing power 10.26 (2019)
- Taxes on goods and services 35.2% (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.