Armenia (ARM) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Armenia-Iceland Trade: In 2022, Armenia exported $8.87k to Iceland. The main products that Armenia exported to Iceland were N/A. Over the past 5 years the exports of Armenia to Iceland have decreased at an annualized rate of 21.1%, from $29k in 2017 to $8.87k in 2022.

In 2022, Armenia did not export any services to Iceland.

Iceland-Armenia Trade: In 2022, Iceland exported $1.04M to Armenia. The main products that Iceland exported to Armenia were Orthopedic Appliances ($1M), Broadcasting Equipment ($20.2k), and Beauty Products ($7k). Over the past 5 years the exports of Iceland to Armenia have increased at an annualized rate of 30.8%, from $272k in 2017 to $1.04M in 2022.

In 2022, Iceland did not export any services to Armenia.

Comparison In 2022, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Armenia exported $8.87k to Iceland. There were not main exports from Armenia to Iceland in 2022. During the last 5 years the exports of Armenia to Iceland have decreased at an annualized rate of 21.1%, from $29k in 2017 to $8.87k in 2022.

In 2017, Iceland exported $1.04M to Armenia. The main products exported from Iceland to Armenia were Orthopedic Appliances ($1M), Broadcasting Equipment ($20.2k), and Beauty Products ($7k). During the last 5 years the exports of Iceland to Armenia have increased at an annualized rate of 30.8%, from $272k in 2022 to $1.04M in 2017.

Exports from Armenia () to Iceland () (2022)

Exports from Iceland () to Armenia () (2022)

Latest Data

Trade between Armenia () and Iceland ()

Armenia Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$2.36B

Iceland
Top DestinationNetherlands$1.97B

This map shows whether countries import more from Armenia or Iceland. Each country is colored based on the difference in imports they receive from Armenia and Iceland or the difference in the growth in imports.

In 2022, countries that imported more from Armenia than Iceland included Russia ($2.36B), United Arab Emirates ($535M), and China ($420M).

In 2022, countries that imported more from Iceland than Armenia included Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

Difference in imports from Iceland () and Armenia () (2022)

Comparative Advantage Armenia - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Armenia and Iceland by product, considering products traded by both, Armenia and Iceland.

During 2022, Armenia had a large net trade with Iceland in the exports of Textiles ($6.95k), Foodstuffs ($1.15k), and Machines ($538).

During 2017, Iceland had a large net trade with Armenia in the exports of Instruments ($1M), Machines ($26k), and Chemical Products ($8.62k).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Armenia and Iceland. This means that a dot/product with the flag of Armenia indicates it has a comparative advantage over Iceland. Similarly, a dot/product with the flag of Iceland indicates it has a comparative advantage over Armenia.

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Historical Data

Bilateral Trade by Products

Exports from Armenia () to Iceland () (2022)

Exports from Iceland () to Armenia () (2022)

Latest Data

Trade between Armenia () and Iceland ()

Armenia Exports

Iceland Exports

Market Competitiveness

Difference in imports from Iceland () and Armenia () (2022)

Comparative Advantage Armenia - Iceland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Armenia () and Iceland () (2022)

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