2022
Exports
$1.35MWorld Rnk 121 / 226
Flag Rnk 113 / 935
2022
PRODUCT COMPLEXITY IN Motor vehicles; parts and accessories (8701 to 8705)
1Rnk 170 / 1025
2022
Imports
$51MWorld Rnk 123 / 225
Flag Rnk 23 / 1186

About

Exports In 2022, Iceland exported $1.35M in Motor vehicles; parts and accessories (8701 to 8705), making it the 121st largest exporter of Motor vehicles; parts and accessories (8701 to 8705) in the world. At the same year, Motor vehicles; parts and accessories (8701 to 8705) was the 113th most exported product in Iceland. The main destination of Motor vehicles; parts and accessories (8701 to 8705) exports from Iceland are: Belgium ($225k), United States ($200k), Denmark ($164k), Norway ($146k), and Germany ($126k).

The fastest growing export markets for Motor vehicles; parts and accessories (8701 to 8705) of Iceland between 2021 and 2022 were United States ($153k), Denmark ($108k), and Germany ($78.6k).

Imports In 2022, Iceland imported $51M in Motor vehicles; parts and accessories (8701 to 8705), becoming the 123rd largest importer of Motor vehicles; parts and accessories (8701 to 8705) in the world. At the same year, Motor vehicles; parts and accessories (8701 to 8705) was the 23rd most imported product in Iceland. Iceland imports Motor vehicles; parts and accessories (8701 to 8705) primarily from: Germany ($7.49M), Netherlands ($6.81M), United Kingdom ($5.17M), China ($3.95M), and United States ($3.16M).

The fastest growing import markets in Motor vehicles; parts and accessories (8701 to 8705) for Iceland between 2021 and 2022 were Germany ($1.6M), Netherlands ($1.41M), and Denmark ($1.18M).

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Motor vehicles; parts and accessories (8701 to 8705). Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.35M
IMPORTS (2022)$51M
NET TRADE (2022)-$49.7M

In 2022, Iceland exported $1.35M in Motor vehicles; parts and accessories (8701 to 8705). The main destinations of Iceland exports on Motor vehicles; parts and accessories (8701 to 8705) were Belgium ($225k), United States ($200k), Denmark ($164k), Norway ($146k), and Germany ($126k).

In 2022, Iceland imported $51M in Motor vehicles; parts and accessories (8701 to 8705), mainly from Germany ($7.49M), Netherlands ($6.81M), United Kingdom ($5.17M), China ($3.95M), and United States ($3.16M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Motor vehicles; parts and accessories (8701 to 8705) EXPORT MARKETS FOR Iceland WERE (2021 - 2022):
United States$153k (321%)
Denmark$108k (193%)
Germany$78.6k (166%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Motor vehicles; parts and accessories (8701 to 8705) BY Iceland WERE (2021 - 2022):
Belgium-$200k (-47%)
Norway-$108k (-42.5%)
Netherlands-$51k (-64.4%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Iceland's main exporting competitors in Motor vehicles; parts and accessories (8701 to 8705) were:
In 2022, Iceland's main importing competitors in Motor vehicles; parts and accessories (8701 to 8705) were:

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Trade Value of Motor vehicles; parts and accessories (8701 to 8705) by Exporters

Potential Exports

Potential Exports

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N/A
N/AN/A
N/AN/A

Motor vehicles; parts and accessories (8701 to 8705)’s highest export potential is N/A. With an export gap of N/A.   Motor vehicles; parts and accessories (8701 to 8705)’s highest import potential is N/A with an import gap of N/A.

See methodology.

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