Summary
- Iceland → Norway
- $436million
- Norway → Iceland
- $1.1billion
- Iceland’s balance
- -$636million
Balance
Iceland’s trade balance with Norway
Trade between Iceland and Norway grew 5.9-fold since 1995
USD billions (current). Iceland’s exports and imports; bars: its balance (green surplus, red deficit).
- Exports 0.4
- Imports 1.1
- Balance -0.6
Source: CEPII BACI
Show the numbers
| Year | Exports | Imports | Trade balance |
|---|---|---|---|
| 1995 | $63 million | $191 million | -$128 million |
| 1996 | $84 million | $289 million | -$205 million |
| 1997 | $116 million | $241 million | -$125 million |
| 1998 | $99 million | $248 million | -$149 million |
| 1999 | $101 million | $269 million | -$168 million |
| 2000 | $88 million | $225 million | -$137 million |
| 2001 | $113 million | $188 million | -$75 million |
| 2002 | $103 million | $197 million | -$94 million |
| 2003 | $113 million | $210 million | -$97 million |
| 2004 | $96 million | $362 million | -$267 million |
| 2005 | $88 million | $361 million | -$273 million |
| 2006 | $132 million | $442 million | -$310 million |
| 2007 | $180 million | $317 million | -$137 million |
| 2008 | $246 million | $824 million | -$578 million |
| 2009 | $253 million | $589 million | -$336 million |
| 2010 | $222 million | $483 million | -$261 million |
| 2011 | $272 million | $789 million | -$517 million |
| 2012 | $295 million | $954 million | -$658 million |
| 2013 | $266 million | $905 million | -$639 million |
| 2014 | $261 million | $843 million | -$582 million |
| 2015 | $237 million | $539 million | -$302 million |
| 2016 | $223 million | $519 million | -$296 million |
| 2017 | $377 million | $644 million | -$267 million |
| 2018 | $337 million | $880 million | -$543 million |
| 2019 | $246 million | $756 million | -$510 million |
| 2020 | $227 million | $509 million | -$281 million |
| 2021 | $224 million | $878 million | -$654 million |
| 2022 | $460 million | $1.2 billion | -$729 million |
| 2023 | $444 million | $1.1 billion | -$665 million |
| 2024 | $436 million | $1.1 billion | -$636 million |
What they sell each other
What Iceland sells to Norway
The top 10 headings in 2024, with their share of the total.
What Norway sells to Iceland
The top 10 headings in 2024, with their share of the total.
How it travels
The estimated sea route between Reykjavík and Oslo is 1,269 nautical miles (2,350 km) long: ≈ 3–4 days at sea (at 18 and 14 knots).
It does not cross any major canal or strait.
Sailing estimate without port calls, waiting or transshipment; not a schedule. One main reference port per country: in large countries it does not represent all of its ports.
Split by transport mode
Mode estimated from value per kilo and geography; both directions together.
How much each matters to the other
Norway was Iceland’s 3rd largest trading partner (9% of its trade), and Iceland was Norway’s 26th (0.6%).
- Norway in Iceland’s trade
- 8.6%
- Norway’s rank among Iceland’s partners
- 3rd
- Iceland in Norway’s trade
- 0.6%
- Iceland’s rank among Norway’s partners
- 26th
Compare with
Other partners of Iceland
Other partners of Norway
Sources and methodology
Sources and licenses
- CEPII BACI · Licence Ouverte Etalab 2.0
- World Bank, Global Shipping Traffic Density · CC BY 4.0 (route network derived by this site)
- World Port Index (NGA) · Public domain (US Government work)
- Natural Earth · Public domain
Methodology
Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.