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Flag Germany / Iceland Flag

2021
Flag → Flag
Exports: $693M, Rnk 79 / 221

2021
Flag → Flag
Top Product: $93.1M, Cars

2021
Flag → Flag
Exports: $661M, Rnk 3 / 162

2021
Flag → Flag
Top Product: $372M, Raw Aluminium

2021
Flag
Economic Complexity (ECI): ECI 1.81, Rnk 5 / 131

2021
Flag  
GDP: $4.22T, CURRENT US$
Rnk 4 / 182

2011-2021
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GDP GROWTH: 12.6%, CURRENT US$
Rnk 119 / 182

2021
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 GDP: $25.5B, CURRENT US$
Rnk 104 / 182

2011-2021
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GDP GROWTH: 67.3%, CURRENT US$
Rnk 32 / 182

2021
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GDP PC : $50,802, CURRENT US$
Rnk 19 / 182

2011-2021
Flag
GDP PC GROWTH: 8.77%, CURRENT US$
Rnk 108 / 182

2021
Flag
GDP PC: $68,384, CURRENT US$
Rnk 8 / 182

2011-2021
Flag
GDP PC GROWTH: 43.3%, CURRENT US$
Rnk 38 / 182

About

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Germany-Iceland In 2021, Germany exported $693M to Iceland. The main products that Germany exported to Iceland are Cars ($93.1M), Broadcasting Equipment ($15.7M), and Trailers and semi-trailers, not mechanically propelled vehicles ($15.4M). During the last 26 years the exports of Germany to Iceland have increased at an annualized rate of 5.14%, from $188M in 1995 to $693M in 2021.

In 2020, Germany exported services to Iceland worth $46.8M, with Transportation ($29.7M), Other business services ($10.3M), and Computer and information services ($5.71M) being the largest in terms of value.

Iceland-Germany In 2021, Iceland exported $661M to Germany. The main products that Iceland exported to Germany were Raw Aluminium ($372M), Fish Fillets ($53.5M), and Ferroalloys ($47.1M). During the last 26 years the exports of Iceland to Germany have increased at an annualized rate of 3.69%, from $257M in 1995 to $661M in 2021.

In 2019, Iceland exported services to Germany worth $352M, with Travel ($205M), Transportation ($111M), and Computer and information services ($17.7M) being the largest in terms of value.

Comparison In 2021,  Germany ranked 5 in the Economic Complexity Index (ECI 1.81),  and 3 in total exports ($1.56T). That same year, Iceland ranked 113 in total exports ($6.76B), and does not have data regarding Economic Complexity Index.

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March, 2023

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Overview In March 2023, Germany exported €74.3M and imported €76.1M from Iceland, resulting in a negative trade balance of €1.84M. Between March 2022 and March 2023 the exports of Germany have increased by €14.4M (24%) from €59.9M to €74.3M, while imports decreased by €-6.51M (-7.88%) from €82.6M to €76.1M.

Trade In March 2023, the top exports of Germany to Iceland were Office and automatic data processing machines (€8.54M), Motor cars and motor caravans (€4.92M), Articles of plastic (€2.41M), Other articles of iron, iron sheet,... (€2.21M), and Fish and crustaceans, molluscs (€2.1M). In March 2023 the top imports of Germany from Iceland were Aluminium and aluminium alloys, incl. waste,... (€54.8M), Ferro-alloys (€7.71M), Fish and crustaceans, molluscs (€7.67M), Basic pharmaceutical products (€1.84M), and Other prefabricated chemicals (€573k).

Origins In March 2023 the exports of Germany were mainly from North Rhine-Westphalia (€9.19M), Bavaria (€8.95M), Baden-Württemberg (€7.83M), Lower Saxony (€6.97M), and Saxony (€5.12M), while imports destinations were mainly North Rhine-Westphalia (€16.8M), Lower Saxony (€11.1M), Baden-Württemberg (€9.34M), Bremen (€6.46M), and Schleswig-Holstein (€5.98M).

Growth In March 2023, the increase in Germany's year-by-year exports to Iceland was explained primarily by an increase in product exports in Office and automatic data processing machines (€7.75M or 981%), Fish and crustaceans, molluscs (€2.09M or 20.9k%), and Motor cars and motor caravans (€1.85M or 60.2%). In March 2023, the decrease in Germany's year-by-year imports  from Iceland was explained primarily by an decrease in product imports  in [object Object], [object Object], and [object Object].

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Flow
Time Scale
Value

EXPORT GROWTH (March 2022 - March 2023): €14.4M, (24%)

IMPORT GROWTH (March 2022 - March 2023): €-6.51M, (-7.88%)

MAIN EXPORTER (March 2023): North Rhine-Westphalia, €9.19M

This section shows exports and imports data at subnational level for Germany. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Germany over time.

To check Iceland and Germany trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Iceland and Germany Data

Go to Bulk Download

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, Germany exported $693M to Iceland. The main products exported from Germany to Iceland were Cars ($93.1M), Broadcasting Equipment ($15.7M), and Trailers and semi-trailers, not mechanically propelled vehicles ($15.4M). During the last 26 years the exports of Germany to Iceland have increased at an annualized rate of 5.14%, from $188M in 1995 to $693M in 2021.

In 2021, Iceland exported $661M to Germany. The main products exported from Iceland to Germany were Raw Aluminium ($372M), Fish Fillets ($53.5M), and Ferroalloys ($47.1M). During the last 26 years the exports of Iceland to Germany have increased at an annualized rate of 3.69%, from $257M in 1995 to $661M in 2021.

Market Competitiveness

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Color

Germany
Top Destination: United States, $135B

Iceland
Top Destination: Netherlands, $1.65B

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

In 2021, countries that imported more from Germany than Iceland were United States ($135B), China ($121B), and France ($119B).

In 2021, countries that imported more from Iceland than Germany were Greenland ($18.1M), Wallis and Futuna ($411k), and Bahrain ($7.79k).

Comparative Advantage Germany - Iceland

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Flow
Scale

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

During 2021, Germany had a large net trade with Iceland in the exports of Machines ($174M), Transportation ($154M), and Metals ($59.3M).

During 2021, Iceland had a large net trade with Germany in the exports of Metals ($444M), Animal Products ($138M), and Foodstuffs ($24.8M).

Service Trade

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Bilateral Service Trade

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In 2020, Germany exported services to Iceland worth $46.8M, with Transportation ($29.7M), Other business services ($10.3M), and Computer and information services ($5.71M) being the largest in terms of value.

In 2019, Iceland exported services to Germany worth $352M, with Travel ($205M), Transportation ($111M), and Computer and information services ($17.7M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Germany has comparative advantage over Iceland. Similarly, the more yellow a dot/product is, the more Iceland has comparative advantage over Germany.

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