Flag Germany / Iceland Flag

2021
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Exports
: $693M, Rnk 79 / 221

2021
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Top Product
: $93.1M, Cars

2021
FlagFlag
Exports
: $661M, Rnk 3 / 162

2021
FlagFlag
Top Product
: $372M, Raw Aluminium

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

2021
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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
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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

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.

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).

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.