Only three categories are excluded from liberalisation concerning processed foods due to existing production in Iceland: flavoured yoghurts and similar products, ice cream and certain food preparations.The 1972 EEA agreement allows for the free movement of goods except for agricultural and fisheries products. The top services exported by Iceland in 2017 were Travel ($3.02B), Transportation ($2.15B), Computer and information services ($290M), Other business services ($263M), and Royalties and license fees ($246M).The top services imported by Iceland in 2017 were Travel ($1.66B), Other business services ($705M), Transportation ($591M), Computer and information services ($249M), and Royalties and license fees ($125M).This section shows forecasts for total product exports and imports for Iceland.

Iceland Customs regulations and procedures for importing and exporting goods at border. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions. Iceland: Iceland Modifies Import Requirements for Dogs and Cats. Article 19 of the agreement states that for agricultural products, both parties will review the trade conditions every two years with a view to progressively liberalising the market. Agriculture accounts for only a small part of gross domestic production (GDP) in Europe, and it is considered that the overall vulnerability of the European economy to changes that affect agriculture is low (4). Here you find general information on rules and regulations regarding importation of goods to Iceland. New concessions also take the form of fully liberalised tariff lines and duty reductions. Interestingly, the economy of Iceland is among only a few found in the Western world based primarily on renewable and natural resources. There are no special taxes applicable to trade in services. [6] The settlers brought sheep, cattle, horses, and goats from Norway to supply their farms with animals. Our website in Icelandic has more detailed information on this subject. The main EU imports from Iceland include seaweeds and other algae, horses, sheep meat and skins, fur skins and various food preparations. In 2017, wheat imports for Iceland was 8,326 thousand US dollars. Automobiles are subject to duties based on carbon emissions, with zero emission cars being duty-free. If you need further information you are welcome to send us an enquiry or a message via our online chat or call a service representative: (+354) 560-0300. Agricultural trade agreements were made between Iceland and the European Union in September 2015, and a joint statement from the Ministry of Industries and Innovation and the Ministry for Foreign Affairs released at that time stated that the agreements would contribute to wider selection of products and lower prices for the benefit of consumers. Minister of Finance Benedikt Jóhannesson hopes that agreements with the European Union on the abolition of tariffs on agricultural imports will take effect mid-way through next year, Agricultural trade agreements were made between Iceland and the European Union in September 2015, and a joint statement from the Ministry of Industries and Innovation and the Ministry for Foreign Affairs released at that time stated that the agreements would contribute to wider selection of products and lower prices for the benefit of consumers.It was hoped the agreements would come into effect at the end of last year or early this year, but they are yet to do so. On its side, the EU has increased or established quotas for many agricultural products from Iceland, including the typical Icelandic dairy product skyr.The main EU exports to Iceland include coffee, various fruits and vegetables, chocolate and prepared food products such as pizzas and quiches. The agricultural import/export business is for people who love building relationships in other countries, and success requires an organized mind that can handle logistics. Marine products account for the majority of goods exports. Good food means good business, and thanks to the EU trade agenda we have more export outlets than ever for our world-beating products.The improved market access covers the vast majority of EU agricultural products, including beef, pig meat, poultry and cheese for which quotas have been substantially increased as a result of the agreement. Overview In 2014, the value of imported food and drink products to Iceland was more than $415 million.

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