2022
Flag  
GDP
$4.07TCURRENT US$
Rnk 4 / 186
2012-2022
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GDP GROWTH
15.5%CURRENT US$
Rnk 136 / 186
2022
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 GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH
88.7%CURRENT US$
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2022
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GDP PC 
$48,432CURRENT US$
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2012-2022
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GDP PC GROWTH
10.4%CURRENT US$
Rnk 115 / 186
2022
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GDP PC
$72,903CURRENT US$
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2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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About

Germany-Iceland Trade: In 2022, Germany exported $722M to Iceland. The main products that Germany exported to Iceland were Cars ($125M), Delivery Trucks ($14M), and Trailers and semi-trailers, not mechanically propelled vehicles ($13.3M). Over the past 5 years the exports of Germany to Iceland have increased at an annualized rate of 30.9%, from $188M in 2017 to $722M in 2022.

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 Trade: In 2022, Iceland exported $596M to Germany. The main products that Iceland exported to Germany were Raw Aluminium ($229M), Ferroalloys ($88.7M), and Fish Fillets ($62.4M). Over the past 5 years the exports of Iceland to Germany have increased at an annualized rate of 18.3%,  from $257M in 2017 to $596M in 2022.

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 2022,  Germany ranked 5 in the Economic Complexity Index (ECI 1.78),  and 3 in total exports ($1.6T). 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
Value

In 2022, Germany exported $722M to Iceland. The main products exported from Germany to Iceland were Cars ($125M), Delivery Trucks ($14M), and Trailers and semi-trailers, not mechanically propelled vehicles ($13.3M). During the last 5 years the exports of Germany to Iceland have increased at an annualized rate of 30.9%, from $188M in 2017 to $722M in 2022.

In 2017, Iceland exported $596M to Germany. The main products exported from Iceland to Germany were Raw Aluminium ($229M), Ferroalloys ($88.7M), and Fish Fillets ($62.4M). During the last 22 years the exports of Iceland to Germany have increased at an annualized rate of 18.3%, from $257M in 1995 to $596M in 2017.

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

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

Market Competitiveness

Color
Germany
Top Destination
United States$153B
Iceland
Top Destination
Netherlands$1.97B

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 2022, countries that imported more from Germany than Iceland included United States ($153B), France ($120B), and China ($109B).

In 2022, countries that imported more from Iceland than Germany included Greenland ($28.2M) and Wallis and Futuna ($3.54M).

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

Comparative Advantage Germany - Iceland

Flow
Scale

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

During 2022, Germany had a large net trade with Iceland in the exports of Transportation ($185M), Machines ($181M), and Metals ($65.1M).

During 2017, Iceland had a large net trade with Germany in the exports of Metals ($342M), Animal Products ($141M), and Chemical Products ($33.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Germany Iceland+N/AN/A
Top Product Potential Iceland Germany+N/AN/A

N/A

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Bilateral Service Trade

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.

Services Exports from Germany (Flag) to Iceland (Flag) (2020)

Services Exports from Iceland (Flag) to Germany (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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