Customs and other import duties in Iceland
Iceland: Customs and other import duties was 6.16 billion current LCU 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 current LCU.
Analysis
In 2023, customs and other import duties in Iceland stood at 6.16 billion current LCU.
That represents a change of up 2.7% on the previous year and up 5.8% over ten years.
Over the whole period, customs and other import duties in Iceland peaked at 10.62 billion current LCU in 1991 and was at its lowest, 54.60 million current LCU, in 1972.
Iceland ranks 73rd of 152 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 198.20 million current LCU | 54.60 million current LCU | 483.10 million current LCU | 8 |
| 1980s | 3.98 billion current LCU | 692.10 million current LCU | 7.88 billion current LCU | 10 |
| 1990s | 4.75 billion current LCU | 1.72 billion current LCU | 10.62 billion current LCU | 10 |
| 2000s | 3.87 billion current LCU | 2.47 billion current LCU | 5.86 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
- Tax revenue 23.2% (2023)
- Taxes on income, profits and capital gains 34.6% (2023)
- Taxes on goods and services 35.2% (2023)
- Net investment in nonfinancial assets 2.3% (2023)
- Net lending (+) / net borrowing (-) -1.1% (2023)
- Interest payments 14.9% (2023)
- Grants and other revenue 17.2% (2023)
- Interest payments 14.7% (2023)
- Other taxes 3.0% (2023)
- Compensation of employees 23.8% (2023)
Frequently asked questions
- What is customs and other import duties in Iceland?
- Customs and other import duties 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 customs and other import duties recorded in Iceland?
- The highest recorded value was 10.62 billion current LCU in 1991.
- What is the lowest customs and other import duties recorded in Iceland?
- The lowest recorded value was 54.60 million current LCU in 1972.
- How does Iceland rank for customs and other import duties?
- Iceland ranks 73rd out of 152 countries with data for 2023.
- Is customs and other import duties 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 Customs and other import duties (current LCU). Statizoid updates them automatically from the source API.
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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 in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.