Overview In March 2023, Germany exported €74.3M and imported €76.1M from Iceland, resulting in a negative trade balance of €1.84M. Between March 2022 and March 2023 the exports of Germany have increased by €14.4M (24%) from €59.9M to €74.3M, while imports decreased by €-6.51M (-7.88%) from €82.6M to €76.1M.
Trade In March 2023, the top exports of Germany to Iceland were Office and automatic data processing machines (€8.54M), Motor cars and motor caravans (€4.92M), Articles of plastic (€2.41M), Other articles of iron, iron sheet,... (€2.21M), and Fish and crustaceans, molluscs (€2.1M). In March 2023 the top imports of Germany from Iceland were Aluminium and aluminium alloys, incl. waste,... (€54.8M), Ferro-alloys (€7.71M), Fish and crustaceans, molluscs (€7.67M), Basic pharmaceutical products (€1.84M), and Other prefabricated chemicals (€573k).
Origins In March 2023 the exports of Germany were mainly from North Rhine-Westphalia (€9.19M), Bavaria (€8.95M), Baden-Württemberg (€7.83M), Lower Saxony (€6.97M), and Saxony (€5.12M), while imports destinations were mainly North Rhine-Westphalia (€16.8M), Lower Saxony (€11.1M), Baden-Württemberg (€9.34M), Bremen (€6.46M), and Schleswig-Holstein (€5.98M).
Growth In March 2023, the increase in Germany's year-by-year exports to Iceland was explained primarily by an increase in product exports in Office and automatic data processing machines (€7.75M or 981%), Fish and crustaceans, molluscs (€2.09M or 20.9k%), and Motor cars and motor caravans (€1.85M or 60.2%). In March 2023, the decrease in Germany's year-by-year imports from Iceland was explained primarily by an decrease in product imports in [object Object], [object Object], and [object Object].