Buying and selling are essential for any country to develop its economy and maintain good relations with other nations. The first table below shows top trading partners of Iceland in terms of export sales (selling), including Netherlands, United Kingdom, and Germany. The second lists top trade partners of Iceland regarding import total (buying). That is, most products are imported from these countries to Iceland.
Iceland Major Exports
Market Value: 4,991 (millions) – Last Updated: June, 2019
| Rank | Country (Exports To) | Trade Value (thousands) | Share (%) | Growth (% 5yr) |
| 1 | Netherlands | 1,796,173 | 35.99 | 492.34 |
| 2 | United Kingdom | 599,475 | 12.01 | 11.64 |
| 3 | Germany | 573,194 | 11.49 | 14.60 |
| 4 | United States | 276,898 | 5.55 | 4.61 |
| 5 | Japan | 229,218 | 4.59 | 170.61 |
| 6 | Norway | 216,711 | 4.34 | 155.46 |
| 7 | Spain | 195,196 | 3.91 | (0.16) |
| 8 | France | 156,623 | 3.14 | 37.74 |
| 9 | Denmark | 136,460 | 2.73 | 2.19 |
| 10 | China | 113,616 | 2.28 | 622.57 |
| 11 | Portugal | 99,030 | 1.98 | 4.23 |
| 12 | Belgium | 70,932 | 1.42 | 38.84 |
| 13 | Russia | 67,169 | 1.35 | 108.37 |
| 14 | Lithuania | 64,563 | 1.29 | 140.27 |
| 15 | Nigeria | 62,062 | 1.24 | 27.75 |
| 16 | Switzerland | 42,870 | 0.86 | (3.93) |
| 17 | Poland | 35,231 | 0.71 | 5.56 |
| 18 | Italy | 32,174 | 0.64 | 5.88 |
| 19 | Sweden | 29,787 | 0.60 | (4.09) |
| 20 | Faroe Islands | 25,761 | 0.52 | (5.61) |
| 21 | Greece | 25,554 | 0.51 | (21.09) |
| 22 | Canada | 19,413 | 0.39 | (20.16) |
| 23 | Ukraine | 17,132 | 0.34 | 252.86 |
| 24 | Belarus | 14,356 | 0.29 | 217.29 |
| 25 | Ireland | 13,220 | 0.26 | 170.34 |
| 26 | South Korea | 11,350 | 0.23 | 127.34 |
| 27 | Uruguay | 10,993 | 0.22 | 7,892.51 |
| 28 | Hungary | 9,971 | 0.20 | 293.99 |
| 29 | Austria | 8,965 | 0.18 | 54.87 |
| 30 | Finland | 6,083 | 0.12 | (57.30) |
| 31 | Greenland | 4,188 | 0.08 | (20.85) |
| 32 | Brazil | 3,279 | 0.07 | 84.38 |
| 33 | Chile | 2,581 | 0.05 | (13.68) |
| 34 | South Africa | 2,298 | 0.05 | (2.49) |
| 35 | Hong Kong | 2,211 | 0.04 | (11.85) |
| 36 | Mexico | 2,194 | 0.04 | 549.57 |
Iceland Major Imports
Market Value: 3,844 (millions) – Last Updated: June, 2019
| Rank | Country (Imports From) | Trade Value (thousands) | Share (%) | Growth (% 5yr) |
| 1 | Norway | 603,330 | 15.69 | 73.28 |
| 2 | Sweden | 433,798 | 11.28 | 90.78 |
| 3 | Germany | 386,037 | 10.04 | (16.05) |
| 4 | United States | 356,141 | 9.26 | (3.29) |
| 5 | Denmark | 270,279 | 7.03 | (1.94) |
| 6 | China | 266,614 | 6.94 | 94.41 |
| 7 | Netherlands | 249,304 | 6.49 | 20.94 |
| 8 | Japan | 192,602 | 5.01 | 37.45 |
| 9 | Switzerland | 162,364 | 4.22 | 293.91 |
| 10 | United Kingdom | 133,137 | 3.46 | (46.47) |
| 11 | France | 70,280 | 1.83 | (36.18) |
| 12 | Italy | 65,368 | 1.70 | (54.18) |
| 13 | Jamaica | 60,486 | 1.57 | 88,061.04 |
| 14 | Lithuania | 59,644 | 1.55 | 109.35 |
| 15 | Ireland | 54,853 | 1.43 | (41.07) |
| 16 | Poland | 53,250 | 1.39 | 79.93 |
| 17 | Estonia | 41,387 | 1.08 | (19.90) |
| 18 | Canada | 38,931 | 1.01 | (6.82) |
| 19 | Latvia | 34,298 | 0.89 | (31.24) |
| 20 | Spain | 32,076 | 0.83 | (46.92) |
| 21 | Russia | 31,357 | 0.82 | (17.58) |
| 22 | Finland | 30,275 | 0.79 | (41.94) |
| 23 | Belgium | 25,811 | 0.67 | (59.89) |
| 24 | South Korea | 24,554 | 0.64 | (24.41) |
| 25 | Faroe Islands | 21,828 | 0.57 | (31.82) |
| 26 | Czech Republic | 14,169 | 0.37 | (43.47) |
| 27 | Brazil | 13,269 | 0.35 | 4.16 |
| 28 | India | 12,844 | 0.33 | (18.47) |
| 29 | Cyprus | 12,476 | 0.32 | 5,736.63 |
| 30 | Thailand | 10,841 | 0.28 | (22.88) |
| 31 | Austria | 10,393 | 0.27 | (51.37) |
| 32 | Turkey | 8,884 | 0.23 | (62.11) |
| 33 | Hungary | 8,789 | 0.23 | (55.33) |
| 34 | Tunisia | 7,492 | 0.19 | 237.32 |
| 35 | Luxembourg | 5,488 | 0.14 | (38.51) |
| 36 | Morocco | 5,037 | 0.13 | 195.58 |