Largest market shown
Not reported
$884.6M of latest reported imports and $492.1M of calculated three-year opportunity.
Importer opportunity guide
Iceland import opportunities
where to source next
Explore Iceland's import market by product, supplier concentration, demand growth, and sourcing gaps. Use reported market size and calculated indicators to decide where deeper supplier research may be useful.
Latest imports$9.2B2024 reported value
Import CAGR+8.2%Three-year reported change
GDP$33.3BLatest reported value
GDP per capita$86.0KLatest reported value
Trade openness75.7%Reported share of GDP
Iceland import opportunities
What makes this an attractive import market?
Compare market size and growth with supplier concentration. A large market may still need product, quality, tariff, logistics, and buyer validation.
Current import base
$9.2B in imports
Iceland recorded $9.2B in imports in 2024, with a three-year change of +8.2%.
How to use the guide
Compare demand with supply
Start with the highest-value products, then review supplier concentration and market conditions before choosing a sourcing route.
Import market overview
Find products where demand and sourcing options meet
This page separates reported import observations from calculated indicators so market size is not mistaken for a guaranteed sourcing opportunity.
Iceland imports products from suppliers across major trade regions. The current profile reports $9.2B of imports in 2024, while the opportunity view highlights product and supplier combinations where market demand and supply context may justify further research.
Use the opportunity table to compare product market size, demand growth, supplier counts, concentration, and projected imports. High concentration can indicate reliance on a small supplier base; it can also reflect specialized products that require careful validation.
Top import opportunities
Products and supplier context to review
The top 50 screened products are ranked by calculated three-year opportunity. Reported market values and calculated indicators are labeled separately.
| Rank | Product | Market size | Demand growth | Suppliers | Concentration | Top supplier | Projected imports |
|---|---|---|---|---|---|---|---|
| 1 | HS 271019Product description unavailable | $884.6MLatest imports | +8.2% | 81 | 2378 | NORDeclining | $1.1B |
| 2 | HS 281820Aluminium oxide: other than artificial corundum | $682.9MLatest imports | +9.4% | 13 | 3123 | BRASlowing | $894.8M |
| 3 | HS 847150Digital processing units: other than those of subheadings 8471.41 or 8471.49, whether or not containing in the same housing one or two of the following types of unit: storage units, input units or output units | $408.3MLatest imports | +12.7% | 47 | 3111 | USADeclining | $584.5M |
| 4 | HS 854519Carbon electrodes: with or without metal, of a kind used for other than furnaces | $207.0MLatest imports | +18.5% | 15 | 5669 | NORDeclining | $344.5M |
| 5 | HS 854511Carbon electrodes: with or without metal, of a kind used for furnaces | $185.2MLatest imports | +13.4% | 16 | 5213 | NLDSlowing | $270.0M |
| 6 | HS 880330Aircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803 | $133.8MLatest imports | +11.5% | 46 | 6775 | USASlowing | $185.4M |
| 7 | HS 230990Dog or cat food: (not put up for retail sale), used in animal feeding | $172.9MLatest imports | +13.7% | 30 | 4464 | NORDeclining | $254.3M |
| 8 | HS 271012Product description unavailable | $172.1MLatest imports | +7.9% | 29 | 4863 | NORDeclining | $215.9M |
| 9 | HS 880240Aeroplanes and other aircraft: of an unladen weight exceeding 15,000kg | $102.2MLatest imports | +19.2% | 8 | 5382 | DEUDeclining | $173.0M |
| 10 | HS 847180Data processing machines: automatic, units thereof n.e.s. in heading no. 8471 | $90.4MLatest imports | +15.3% | 44 | 7410 | USAGrowing | $138.5M |
| 11 | HS 300490Medicaments: consisting of mixed or unmixed products n.e.s. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale | $188.3MLatest imports | +7.1% | 51 | 2726 | DNKDeclining | $231.2M |
| 12 | HS 890200Fishing vessels, factory ships and other vessels: for processing or preserving fishery products | $150.5MLatest imports | +6.1% | 5 | 2861 | GRLDeclining | $179.7M |
| 13 | HS 150420Fats and oils and their fractions: of fish, (excluding liver-oils) | $51.3MLatest imports | +24.7% | 14 | 3678 | MARDeclining | $99.6M |
| 14 | HS 880230Aeroplanes and other aircraft: of an unladen weight exceeding 2000kg but not exceeding 15,000kg | $23.3MLatest imports | +22.4% | 4 | 9847 | CHNDeclining | $42.7M |
| 15 | HS 851762Communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus | $117.7MLatest imports | +13.3% | 60 | 1382 | USADeclining | $171.2M |
| 16 | HS 870380Vehicles: with only electric motor for propulsion | $78.3MLatest imports | +23.8% | 22 | 1511 | DEUGrowing | $148.4M |
| 17 | HS 030483Fish fillets: frozen, flat fish (Pleuronectidae, Bothidae, Cynoglossidae, Soleidae, Scophthalmidae and Citharidae) | $19.8MLatest imports | +30.6% | 4 | 9219 | DEUDeclining | $38.8M |
| 18 | HS 841112Turbo-jets: of a thrust exceeding 25kN | $43.7MLatest imports | +8.0% | 5 | 5162 | USADeclining | $54.9M |
| 19 | HS 880320Aircraft and spacecraft: under-carriages and parts thereof | $24.5MLatest imports | +14.8% | 16 | 8230 | USADeclining | $37.1M |
| 20 | HS 300215Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale | $58.9MLatest imports | +23.0% | 25 | 2197 | SWEDeclining | $109.6M |
| 21 | HS 870360Vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, capable of being charged by plugging to external source of electric power | $77.7MLatest imports | +25.4% | 20 | 1365 | SVKDeclining | $151.8M |
| 22 | HS 870340Vehicles: with both spark-ignition internal combustion piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power | $37.5MLatest imports | +34.4% | 20 | 2160 | JPNGrowing | $73.2M |
| 23 | HS 761090Aluminium: structures (excluding prefabricated buildings of heading no. 9406) and parts of structures, n.e.c. in heading no. 7610, plates, rods, profiles, tubes and the like | $29.9MLatest imports | +12.1% | 38 | 4707 | LTUSlowing | $42.2M |
| 24 | HS 847130Data processing machines: portable, digital and automatic, weighing not more than 10kg, consisting of at least a central processing unit, a keyboard and a display | $36.2MLatest imports | +4.4% | 45 | 4969 | CHNDeclining | $41.2M |
| 25 | HS 051191Animal products: of fish or crustaceans, molluscs or other aquatic invertebrates and dead animals of chapter 3, unfit for human consumption | $36.2MLatest imports | +15.7% | 14 | 4297 | WXDDeclining | $56.0M |
| 26 | HS 850131Electric motors and generators: DC, of an output not exceeding 750W | $16.5MLatest imports | +19.2% | 45 | 9111 | FINSlowing | $28.0M |
| 27 | HS 870333Vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity exceeding 2500cc | $24.8MLatest imports | +5.4% | 16 | 8444 | JPNGrowing | $29.1M |
| 28 | HS 220210Waters: including mineral and aerated, containing added sugar or other sweetening matter or flavoured | $41.3MLatest imports | +18.5% | 64 | 2112 | NLDDeclining | $68.8M |
| 29 | HS 300420Medicaments: containing antibiotics (other than penicillins, streptomycins or their derivatives), for therapeutic or prophylactic uses, packaged for retail sale | $20.0MLatest imports | +10.6% | 19 | 9055 | DNKDeclining | $27.1M |
| 30 | HS 730890Iron or steel: structures and parts thereof, n.e.s. in heading no. 7308 | $63.5MLatest imports | +10.6% | 44 | 1382 | POLStable | $85.8M |
| 31 | HS 252329Cement: portland, other than white, whether or not artificially coloured | $23.5MLatest imports | +19.7% | 9 | 4983 | DNKDeclining | $40.3M |
| 32 | HS 940610Buildings: prefabricated, of wood | $38.7MLatest imports | +12.4% | 24 | 2419 | LTUDeclining | $54.8M |
| 33 | HS 270112Coal: bituminous, whether or not pulverised, but not agglomerated | $19.9MLatest imports | +7.6% | 3 | 7793 | GBRDeclining | $24.9M |
| 34 | HS 240399Tobacco: other than homogenised or reconstituted or smoking | $18.0MLatest imports | +20.0% | 21 | 5608 | DNKDeclining | $31.0M |
| 35 | HS 271121Petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas | $11.3MLatest imports | +63.1% | 2 | 10000 | DEUAccelerating | $22.0M |
| 36 | HS 870331Vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity not exceeding 1500cc | $13.9MLatest imports | +23.3% | 11 | 6379 | ROUSlowing | $26.1M |
| 37 | HS 270119Coal: (other than anthracite and bituminous), whether or not pulverised but not agglomerated | $29.0MLatest imports | +18.3% | 7 | 3147 | NLDSlowing | $48.0M |
| 38 | HS 030635Crustaceans: live, fresh or chilled, cold-water shrimps and prawns (Pandalus spp., Crangon crangon), in shell or not | $10.3MLatest imports | +63.0% | 2 | 9960 | DNKGrowing | $20.2M |
| 39 | HS 847149Data processing machines: digital, automatic, (not portable, analogue or hybrid), presented in the form of systems, n.e.s. in item no. 8471.41 | $34.5MLatest imports | +6.9% | 33 | 3797 | USADeclining | $42.2M |
| 40 | HS 760719Aluminium: foil, (not backed), of a thickness not exceeding 0.2mm, not rolled | $20.4MLatest imports | +13.5% | 24 | 5013 | CHNDeclining | $29.8M |
| 41 | HS 441810Wood: windows, French-windows and their frames | $28.8MLatest imports | +15.9% | 20 | 2750 | DNKDeclining | $44.9M |
| 42 | HS 382200Reagents: diagnostic or laboratory reagents on a backing and prepared diagnostic or laboratory reagents whether or not on a backing, other than those of heading no. 3002 or 3006: certified reference material | $34.8MLatest imports | +9.9% | 47 | 2187 | NLDDeclining | $46.1M |
| 43 | HS 854460Insulated electric conductors: for a voltage exceeding 1000 volts | $18.8MLatest imports | +8.4% | 31 | 4982 | SWESlowing | $24.0M |
| 44 | HS 030616Crustaceans: frozen, cold-water shrimps and prawns (Pandalus spp., Crangon crangon), in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water | $21.2MLatest imports | +4.4% | 17 | 4676 | NORGrowing | $24.1M |
| 45 | HS 850440Electrical static converters | $29.3MLatest imports | +10.3% | 61 | 1853 | NORDeclining | $39.4M |
| 46 | HS 853710Boards, panels, consoles, desks and other bases: for electric control or the distribution of electricity, (other than switching apparatus of heading no. 8517), for a voltage not exceeding 1000 volts | $29.8MLatest imports | +12.1% | 61 | 1834 | NORDeclining | $42.0M |
| 47 | HS 852872Reception apparatus for television, whether or not incorporating radio-broadcast receivers or sound or video recording or reproducing apparatus: incorporating a colour video display or screen | $15.5MLatest imports | +6.8% | 30 | 6484 | SWEDeclining | $18.9M |
| 48 | HS 870210Vehicles: public transport type (carries 10 or more passengers), compression-ignition internal combustion piston engine (diesel or semi-diesel) | $37.4MLatest imports | +12.3% | 23 | 1678 | CZEGrowing | $52.9M |
| 49 | HS 870332Vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity exceeding 1500cc but not exceeding 2500cc | $37.7MLatest imports | +8.6% | 24 | 1988 | CZESlowing | $48.3M |
| 50 | HS 382600Biodiesel and mixtures thereof: not containing or containing less than 70% by weight of petroleum oils or oils obtained from bituminous minerals | $11.3MLatest imports | +40.0% | 8 | 4513 | NLDGrowing | $22.1M |
Showing the five highest-ranked products on mobile. View the complete import opportunity data.
Product sectors
Which sectors carry the most demand?
HS2 sectors group the screened products into broader families for an easier first comparison.
| Sector | Products | Market size | Opportunity | Average growth |
|---|---|---|---|---|
| HS2 sector 00HS2 00 | 2 | $1.1B | $614.6M | +8.0% |
| Electrical equipmentHS2 85 | 8 | $620.0M | $561.5M | +12.7% |
| MachineryHS2 84 | 5 | $613.0M | $489.0M | +9.5% |
| Inorganic chemicalsHS2 28 | 1 | $682.9M | $394.5M | +9.4% |
| AircraftHS2 88 | 4 | $283.9M | $348.9M | +17.0% |
| VehiclesHS2 87 | 7 | $307.2M | $174.8M | +19.0% |
| Pharmaceutical productsHS2 30 | 3 | $267.3M | $172.4M | +13.6% |
| Food industry residuesHS2 23 | 1 | $172.9M | $151.1M | +13.7% |
| Fish and crustaceansHS2 03 | 3 | $51.4M | $73.1M | +32.7% |
| ShipsHS2 89 | 1 | $150.5M | $70.9M | +6.1% |
| Mineral fuelsHS2 27 | 3 | $60.2M | $63.4M | +29.7% |
| Animal and vegetable fatsHS2 15 | 1 | $51.3M | $52.7M | +24.7% |
Supply gaps
Where supplier concentration deserves attention
The concentration index helps identify products where reported imports rely more heavily on a smaller supplier base. It is a screening signal, not a recommendation by itself.
| Product | Market size | Suppliers | Concentration | Top supplier | Share gap |
|---|---|---|---|---|---|
| HS 271121Petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas | $11.3M | 2 | 10000 | DEU | 96.8% |
| HS 030635Crustaceans: live, fresh or chilled, cold-water shrimps and prawns (Pandalus spp., Crangon crangon), in shell or not | $10.3M | 2 | 9960 | DNK | 99.8% |
| HS 880230Aeroplanes and other aircraft: of an unladen weight exceeding 2000kg but not exceeding 15,000kg | $23.3M | 4 | 9847 | CHN | 99.2% |
| HS 030483Fish fillets: frozen, flat fish (Pleuronectidae, Bothidae, Cynoglossidae, Soleidae, Scophthalmidae and Citharidae) | $19.8M | 4 | 9219 | DEU | 95.9% |
| HS 850131Electric motors and generators: DC, of an output not exceeding 750W | $16.5M | 45 | 9111 | FIN | 95.4% |
| HS 300420Medicaments: containing antibiotics (other than penicillins, streptomycins or their derivatives), for therapeutic or prophylactic uses, packaged for retail sale | $20.0M | 19 | 9055 | DNK | 95.1% |
| HS 870333Vehicles: compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity exceeding 2500cc | $24.8M | 16 | 8444 | JPN | 91.8% |
| HS 880320Aircraft and spacecraft: under-carriages and parts thereof | $24.5M | 16 | 8230 | USA | 90.6% |
Supplier landscape
Which supplier markets appear most often?
These supplier names come from the leading peer signal in the screened opportunity rows and should be validated at product level.
NOR
Norway
7 screened products
$1.1BCalculated opportunity across these rowsUSA
USA, Puerto Rico and US Virgin Islands
7 screened products
$687.3MCalculated opportunity across these rowsBRA
Brazil
1 screened products
$394.5MCalculated opportunity across these rowsNLD
Netherlands
5 screened products
$262.0MCalculated opportunity across these rowsDNK
Denmark
6 screened products
$224.7MCalculated opportunity across these rowsDEU
Germany
4 screened products
$218.4MCalculated opportunity across these rowsCHN
China
3 screened products
$89.7MCalculated opportunity across these rowsGRL
Greenland
1 screened products
$70.9MCalculated opportunity across these rowsFrequently asked questions
Using the Iceland import opportunity index
Definitions and practical guidance for interpreting market size, growth, suppliers, and concentration.
What are the import opportunities?
They are product and supplier combinations in Iceland's screened import market with substantial reported demand and calculated opportunity indicators. They are research priorities, not guaranteed savings or supply contracts.
What does supplier concentration mean?
The concentration index indicates how much reported imports rely on a smaller supplier base. A high value can suggest supply dependence, but it can also reflect specialized products or limited reporting.
How should sourcing teams use this page?
Start with products that fit your specification and volume needs, then validate suppliers, tariffs, standards, logistics, pricing, and continuity for Iceland.
Data source
OECD trade statistics with CEPII context
OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-30). OECD BIMTS is the primary trade series for this view. Supporting bilateral trade context uses CEPII BACI bilateral trade flows (202601) under Etalab 2.0 Open Licence. Yugalinks presents derived views of reported observations and calculated indicators. Data terms: OECD Terms & Conditions.