Iceland's major exports showcase the country's reliance on its abundant natural resources and its commitment to innovation in industries such as fishing, renewable energy, and aluminum production. Marine products, aluminum, and renewable energy technologies top the list of exports, with the United States, Germany, and the United Kingdom emerging as key trading partners across various sectors.
Marine Products
Marine products, including fish, seafood, and fish products, are the backbone of Iceland's export economy. The country's cold and pristine waters support a thriving fishing industry. The main trading partners for Icelandic marine products are the United States, the United Kingdom, Germany, and France. The export value for this sector exceeds $1.5 billion.
Aluminum and Aluminum Products
Iceland harnesses its abundant renewable energy sources to power its aluminum smelting industry. Aluminum and aluminum products, including ingots and alloys, are exported to various global markets. The primary trading partners for Icelandic aluminum are the United States, the Netherlands, Germany, and Norway. The export value for this sector reaches approximately $1.2 billion.
Renewable Energy Technologies
Iceland's expertise in renewable energy technologies has gained international recognition. Geothermal and hydroelectric power equipment, including turbines and related machinery, are exported worldwide. The main trading partners for Icelandic renewable energy technologies are Norway, Germany, the United States, and Sweden. The export value for this sector exceeds $500 million.
Medicinal and Pharmaceutical Products
Iceland's pharmaceutical industry has shown significant growth in recent years. Medicinal and pharmaceutical products, including pharmaceutical preparations and vaccines, are exported to various countries. The primary trading partners for Icelandic pharmaceuticals are the United States, Germany, Denmark, and Sweden. The export value for this sector is estimated at around $400 million.
Machinery and Equipment
Iceland exports a range of machinery and equipment, including electrical machinery, industrial machinery, and machinery parts. The main trading partners for Icelandic machinery and equipment are Germany, Norway, the United States, and the United Kingdom. The export value for this sector exceeds $300 million.
Medical and Optical Instruments
Icelandic medical and optical instruments, including diagnostic equipment, surgical instruments, and lenses, are exported to global markets. The primary trading partners for Icelandic medical and optical instruments are Germany, the United States, Denmark, and the United Kingdom. The export value for this sector reaches approximately $200 million.
Electronic Equipment
Iceland exports electronic equipment, including communication devices, integrated circuits, and electrical control boards. The main trading partners for Icelandic electronic equipment are Germany, Denmark, the United States, and the United Kingdom. The export value for this sector exceeds $150 million
Fertilizers
Icelandic natural resources, such as volcanic ash and minerals, contribute to the production of fertilizers. These fertilizers are exported to various countries. The primary trading partners for Icelandic fertilizers are Norway, Germany, the Netherlands, and Sweden. The export value for this sector is estimated at around $100 million.
Food and Beverages
Icelandic food and beverages, including dairy products, lamb, and specialty fish products, are known for their quality and purity. The main trading partners for Icelandic food and beverages are the United States, Germany, the United Kingdom, and Denmark. The export value for this sector exceeds $100 million.
Wood and Wood Products
Icelandic wood and wood products, including timber and processed wood items, are exported to regional markets. The primary trading partners for Icelandic wood and wood products are the United Kingdom, Germany, Norway, and Sweden . The export value for this sector is estimated at approximately $50 million.
Related Information
