Taxes on international trade (current LCU) in Iceland
Iceland: Taxes on international trade (current LCU) was 6.16 billion current LCU in 2023. ◆ Volatile
Latest (2023)
6.16 billion current LCU
Change on year
up 2.7%
World rank
76th
of 155 countries
All-time high
11.00 billion current LCU
in 1991
All-time low
56.00 million current LCU
in 1972
Years of data
52
1972–2023
Taxes on international trade in Iceland, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
The most recent figure for taxes on international trade in Iceland is 6.16 billion current LCU, measured in 2023.
Compared with earlier readings it is up 2.7% on the previous year and up 5.8% over ten years.
Over the whole period, taxes on international trade in Iceland peaked at 11.00 billion current LCU in 1991 and was at its lowest, 56.00 million current LCU, in 1972.
That places Iceland 76th out of 155 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes on international trade (current LCU) in Iceland, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 56.00 million current LCU | — |
| 1973 | 79.10 million current LCU | +41.2% |
| 1974 | 114.20 million current LCU | +44.4% |
| 1975 | 128.90 million current LCU | +12.9% |
| 1976 | 159.40 million current LCU | +23.7% |
| 1977 | 231.50 million current LCU | +45.2% |
| 1978 | 371.00 million current LCU | +60.3% |
| 1979 | 517.60 million current LCU | +39.5% |
| 1980 | 744.40 million current LCU | +43.8% |
| 1981 | 1.26 billion current LCU | +69.9% |
| 1982 | 1.90 billion current LCU | +50.0% |
| 1983 | 2.75 billion current LCU | +45.1% |
| 1984 | 3.76 billion current LCU | +36.5% |
| 1985 | 4.49 billion current LCU | +19.4% |
| 1986 | 5.32 billion current LCU | +18.6% |
| 1987 | 7.19 billion current LCU | +35.0% |
| 1988 | 7.26 billion current LCU | +1.0% |
| 1989 | 8.71 billion current LCU | +20.0% |
| 1990 | 9.74 billion current LCU | +11.9% |
| 1991 | 11.00 billion current LCU | +12.9% |
| 1992 | 10.20 billion current LCU | -7.2% |
| 1993 | 6.27 billion current LCU | -38.6% |
| 1994 | 1.94 billion current LCU | -69.0% |
| 1995 | 1.79 billion current LCU | -7.9% |
| 1996 | 1.81 billion current LCU | +1.6% |
| 1997 | 1.83 billion current LCU | +0.9% |
| 1998 | 2.39 billion current LCU | +30.5% |
| 1999 | 2.47 billion current LCU | +3.6% |
| 2000 | 2.71 billion current LCU | +9.6% |
| 2001 | 3.02 billion current LCU | +11.4% |
| 2002 | 2.47 billion current LCU | -18.1% |
| 2003 | 2.68 billion current LCU | +8.3% |
| 2004 | 3.09 billion current LCU | +15.1% |
| 2005 | 3.54 billion current LCU | +14.7% |
| 2006 | 4.62 billion current LCU | +30.7% |
| 2007 | 5.45 billion current LCU | +17.8% |
| 2008 | 5.87 billion current LCU | +7.8% |
| 2009 | 5.31 billion current LCU | -9.5% |
| 2010 | 5.95 billion current LCU | +12.0% |
| 2011 | 7.29 billion current LCU | +22.4% |
| 2012 | 7.68 billion current LCU | +5.4% |
| 2013 | 5.82 billion current LCU | -24.3% |
| 2014 | 6.06 billion current LCU | +4.2% |
| 2015 | 4.99 billion current LCU | -17.7% |
| 2016 | 5.09 billion current LCU | +2.0% |
| 2017 | 3.91 billion current LCU | -23.1% |
| 2018 | 4.12 billion current LCU | +5.3% |
| 2019 | 3.43 billion current LCU | -16.7% |
| 2020 | 2.58 billion current LCU | -24.9% |
| 2021 | 4.12 billion current LCU | +60.1% |
| 2022 | 5.99 billion current LCU | +45.3% |
| 2023 | 6.16 billion current LCU | +2.7% |
Iceland compared with similar countries
- Iceland's 6.16 billion current LCU is above the median for high income countries, which is 85.11 million current LCU, 72.3× the median. (55 countries reporting)
- Iceland's 6.16 billion current LCU is above the median for Europe & Central Asia, which is 138.90 million current LCU, 44.3× the median. (47 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 207.21 million current LCU | 56.00 million current LCU | 517.60 million current LCU | 8 |
| 1980s | 4.34 billion current LCU | 744.40 million current LCU | 8.71 billion current LCU | 10 |
| 1990s | 4.94 billion current LCU | 1.79 billion current LCU | 11.00 billion current LCU | 10 |
| 2000s | 3.88 billion current LCU | 2.47 billion current LCU | 5.87 billion current LCU | 10 |
| 2010s | 5.43 billion current LCU | 3.43 billion current LCU | 7.68 billion current LCU | 10 |
| 2020s | 4.71 billion current LCU | 2.58 billion current LCU | 6.16 billion current LCU | 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 taxes on international trade in Iceland?
- Taxes on international trade in Iceland was 6.16 billion current LCU in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on international trade recorded in Iceland?
- The highest recorded value was 11.00 billion current LCU in 1991.
- What is the lowest taxes on international trade recorded in Iceland?
- The lowest recorded value was 56.00 million current LCU in 1972.
- How does Iceland rank for taxes on international trade?
- Iceland ranks 76th out of 155 countries with data for 2023.
- Is taxes on international trade rising or falling in Iceland?
- Over the last ten years it is up 5.8%. 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 Taxes on international trade (current LCU). 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 on international trade are taxes that become payable when goods cross the national or customs frontiers of the economic territory or when transactions in services exchange between residents and non-residents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.