Iceland’s 4th biggest supplier in the world in 2015, China has been Iceland's biggest supplier in Asia over the past years.
With the recovery of Icelandic economy and the coming into force of bilateral free trade agreement, Iceland’s imports from China continues to set new record. The Icelandic imports from China in 2015 grew to a a new height of about ISK 54.9 billion, accounting about 8% of Iceland's total imports in 2015.
China exports a wide range of manufactured products, with more and more growth in industrial and hi-tech products, including electronics, machinery and equipment.
Chinas exports to Iceland are expected to grow further, as more and more Icelandic companies are looking at China in order to tap into various opportunities as a result of the enforcement of the free trade agreement.