Iceland: Trade freedom

* indicates monthly or quarterly data series
 Iceland

Trade freedom index (0-100)

 Latest value 80
 Year 2023
 Measure points
 Data availability 1997 - 2023
 Average 84
 Min - Max 78 - 89
 Source The Heritage Foundation
For that indicator, we provide data for Iceland from 1997 to 2023. The average value for Iceland during that period was 84 points with a minimum of 78 points in 2003 and a maximum of 89 points in 2018. The latest value from 2023 is 80 points. For comparison, the world average in 2023 based on 175 countries is 70 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent values chart
Iceland - Trade freedom - recent values

Historical chart
Iceland - Trade freedom - historical chart - 1997-2023




The Trade Freedom index for Iceland measures the absence of tariffs and other barriers that affect the international trade of goods and services.
Definition: The Trade freedom index is based on two indicators: the trade-weighted average tariff rate and non-tariff barriers (including quantity, price, regulatory, customs and investment restrictions, and direct government intervention).


 Related indicators Latest value Reference Measure
 Property rights 97 2023 points
 Freedom from corruption 84 2023 points
 Fiscal freedom 29 2023 points
 Business freedom 83 2023 points
 Labor freedom 68 2023 points
 Monetary freedom 77.40 2023 points
 Trade freedom 80 2023 points
 Investment freedom 80 2023 points
 Financial freedom 70 2023 points
 Economic freedom, overall index 72 2023 index points
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