Bilateral Trade Relations
Bilateral trade relations between Iceland and Germany are close, and Germany is one of the key trading partners of Iceland. Exports base on a few pillars; with aluminium by far the largest share, and seafood accounting for about 20%. Imports from Germany cover a wide range of goods, with machinery and transport equipment holding the largest share.
Tourism is blooming and has become a pillar of Iceland´s economy and the bilateral relations. About 40.000 German tourists visit Iceland each year. In terms of length of stay, and overnight stays in hotels and guesthouses, Germany is leading.
Direct foreign investments are negligible.
Icelandic culture has an excellent image in Germany, with literature and music being the key pillars. Iceland will be guest of honour at Frankfurt Book Fair 2011.