Tariff rate, applied, weighted mean, all products in Iceland
Iceland: Tariff rate, applied, weighted mean, all products was 1.6% in 2022. ▼ Falling
Tariff rate, applied, weighted mean, all products in Iceland, 1993–2022
Source: Staff estimates. Measured in %.
Analysis
Iceland recorded 1.6% for tariff rate, applied, weighted mean, all products in 2022.
Compared with earlier readings it is up 7.9% on the previous year and up 10.9% over ten years.
Over the whole period, tariff rate, applied, weighted mean, all products in Iceland peaked at 4.7% in 2000 and was at its lowest, 1.4%, in 2015.
That places Iceland 136th out of 184 countries with data for 2022, putting it in the middle of the range.
The long-run direction has been consistently falling across the 24 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.8% | 3.4% | 4.5% | 4 |
| 2000s | 3.2% | 1.6% | 4.7% | 9 |
| 2010s | 1.5% | 1.4% | 1.7% | 9 |
| 2020s | 1.6% | 1.5% | 1.6% | 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, weighted mean, all products in Iceland?
- Tariff rate, applied, weighted mean, all products in Iceland was 1.6% in 2022, according to Staff estimates.
- What is the highest tariff rate, applied, weighted mean, all products recorded in Iceland?
- The highest recorded value was 4.7% in 2000.
- What is the lowest tariff rate, applied, weighted mean, all products recorded in Iceland?
- The lowest recorded value was 1.4% in 2015.
- How does Iceland rank for tariff rate, applied, weighted mean, all products?
- Iceland ranks 136th out of 184 countries with data for 2022.
- Is tariff rate, applied, weighted mean, all products rising or falling in Iceland?
- Over the last ten years it is up 10.9%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from Staff estimates, published as part of Tariff rate, applied, weighted mean, all products (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Weighted mean applied tariff is the average of effectively applied rates weighted by the product import shares corresponding to each partner country. 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 and import weights. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of weighted mean tariffs. Import weights were calculated using the United Nations Statistics Division's Commodity Trade (Comtrade) database. 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.