|Due to rigorous natural condition, limited natural resources and a small industrial sector, Iceland has to maintain a rather high level of import to meet domestic consumption and supply industrial production, in spite of its small population.
Leading import items are industrial supplies, capital goods, transport equipment and various consumer goods.
In recent years, with steady economic recovery and inflow of investment projects. Iceland's import Iceland's import has been keeping fast growth. The total value of imports of goods in 2015 was ISK 70.300 billion higher, or 12.0%, than that in 2014, at current rates of exchange, mainly because of industrial supplies and aircraft, while the imports of fuels decreased.
Iceland's major import partners are the traditional Western countries, e.g. Norway, Germany, U.K, Sweden, Denmark and U.S. However, China and Brazil have also become important suppliers to Iceland over the years. China has moved up to the 4th biggest supplier in 2015 from the 5th in 2014.