Iceland: Trade freedom

The latest value from 2024 is 81 points, an increase from 80 points in 2023. In comparison, the world average is 70 points, based on data from 176 countries. Historically, the average for Iceland from 1997 to 2024 is 84 points. The minimum value, 78 points, was reached in 2003 while the maximum of 89 points was recorded in 2018. See the global rankings for that indicator or use the country comparator to compare trends over time.

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).