Tariff rate, applied, simple mean, all products in Iceland
Iceland: Tariff rate, applied, simple mean, all products was 1.3% in 2022. ◆ Volatile
Tariff rate, applied, simple mean, all products in Iceland, 1993–2022
Source: Staff estimates. Measured in %.
Analysis
In 2022, tariff rate, applied, simple mean, all products in Iceland stood at 1.3%.
The figure is down 13.7% on the previous year and down 49.2% over ten years.
Over the whole period, tariff rate, applied, simple mean, all products in Iceland peaked at 7.9% in 2000 and was at its lowest, 1.2%, in 2019.
That places Iceland 173rd out of 184 countries with data for 2022, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 5.7% | 3.6% | 7.4% | 4 |
| 2000s | 5.6% | 2.8% | 7.9% | 9 |
| 2010s | 2.1% | 1.2% | 2.6% | 9 |
| 2020s | 1.4% | 1.3% | 1.5% | 2 |
Countries ranked near Iceland
More private sector data for Iceland
- Merchandise exports 7.17 billion current US$ (2025)
- Manufactures exports 14.0% (2025)
- Food exports 46.9% (2025)
- Merchandise imports 10.94 billion current US$ (2025)
- Manufactures imports 71.1% (2025)
- Food imports 11.1% (2025)
- Merchandise trade 46.9% (2025)
- Commercial service exports 8.13 billion current US$ (2025)
- Transport services 16.3% (2025)
- Computer, communications and other services 41.2% (2025)
Frequently asked questions
- What is tariff rate, applied, simple mean, all products in Iceland?
- Tariff rate, applied, simple mean, all products in Iceland was 1.3% in 2022, according to Staff estimates.
- What is the highest tariff rate, applied, simple mean, all products recorded in Iceland?
- The highest recorded value was 7.9% in 2000.
- What is the lowest tariff rate, applied, simple mean, all products recorded in Iceland?
- The lowest recorded value was 1.2% in 2019.
- How does Iceland rank for tariff rate, applied, simple mean, all products?
- Iceland ranks 173rd out of 184 countries with data for 2022.
- Is tariff rate, applied, simple mean, all products rising or falling in Iceland?
- Over the last ten years it is down 49.2%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from Staff estimates, published as part of Tariff rate, applied, simple mean, all products (%). Statizoid updates them automatically from the source API.
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CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Simple mean applied tariff is the unweighted average of effectively applied rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups. Effectively applied tariff rates at the six- and eight-digit product level are averaged for products in each commodity group. When the effectively applied rate is unavailable, the most favored nation rate is used instead. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of simple mean tariffs.