2022
Flag  
GDP
$5.64BCURRENT US$
Rnk 152 / 186
2012-2022
Flag
GDP GROWTH
22.3%CURRENT US$
Rnk 116 / 186
2022
Flag
 GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH
88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC 
$20,019CURRENT US$
Rnk 52 / 186
2012-2022
Flag
GDP PC GROWTH
19.9%CURRENT US$
Rnk 89 / 186
2022
Flag
GDP PC
$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH
58.5%CURRENT US$
Rnk 29 / 186

About

Barbados-Iceland Trade: In 2022, Barbados exported $5.24k to Iceland. The main products that Barbados exported to Iceland were Hard Liquor ($6.73k), Paper Labels ($1.17k), and Knit Sweaters ($92). Over the past 5 years the exports of Barbados to Iceland have increased at an annualized rate of 8.2%, from $3.53k in 2017 to $5.24k in 2022.

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

Iceland-Barbados Trade: In 2022, Iceland exported $267k to Barbados. The main products that Iceland exported to Barbados were Refined Petroleum ($1.3M), Fish oil ($60.7k), and Antiknock ($19k). Over the past 5 years the exports of Iceland to Barbados have increased at an annualized rate of 72.4%,  from $17.5k in 2017 to $267k in 2022.

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

Comparison In 2022,  Barbados ranked 176 in total exports ($393M). That same year, Iceland ranked 116 in total exports ($7.31B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Barbados exported $5.24k to Iceland. The main products exported from Barbados to Iceland were Hard Liquor ($6.73k), Paper Labels ($1.17k), and Knit Sweaters ($92). During the last 5 years the exports of Barbados to Iceland have increased at an annualized rate of 8.2%, from $3.53k in 2017 to $5.24k in 2022.

In 2017, Iceland exported $267k to Barbados. The main products exported from Iceland to Barbados were Refined Petroleum ($1.3M), Fish oil ($60.7k), and Antiknock ($19k). During the last 20 years the exports of Iceland to Barbados have increased at an annualized rate of 72.4%, from $17.5k in 1997 to $267k in 2017.

Exports from Barbados (Flag) to Iceland (Flag) (2022)

Exports from Iceland (Flag) to Barbados (Flag) (2022)

Latest Data

Trade between Barbados (Flag) and Iceland (Flag)

Barbados Exports

Iceland Exports

Market Competitiveness

Color
Barbados
Top Destination
United States$88.6M
Iceland
Top Destination
Netherlands$1.97B

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

In 2022, countries that imported more from Barbados than Iceland included Jamaica ($43.3M), Trinidad and Tobago ($33.8M), and Guyana ($29.7M).

In 2022, countries that imported more from Iceland than Barbados included Netherlands ($1.97B), United Kingdom ($672M), and Germany ($573M).

Difference in imports from Iceland (Flag) and Barbados (Flag) (2022)

Comparative Advantage Barbados - Iceland

Flow
Scale

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

During 2022, Barbados had a large net trade with Iceland in the exports of Foodstuffs ($6.73k), Paper Goods ($1.17k), and Textiles ($92).

During 2017, Iceland had a large net trade with Barbados in the exports of Mineral Products ($1.3M), Animal and Vegetable Bi-Products ($60.7k), and Chemical Products ($19k).

Economic Complexity

Competitive Landscape

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

Product Space of Barbados (Flag) and Iceland (Flag) (2022)

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