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, consumer goods and food and beverages.

Due to the financial crisis in late 2008, Iceland's goods imports dropped by 13.3% to ISK 446 billion in 2009. 

Iceland's major import partners include Norway, Netherlands , Germany, Sweden, Denmark and U.S.

China has become the 7th in the list in 2009, but only accounting for 5% of the total imports.