2022
Flag  
GDP
$395BCURRENT US$
Rnk 39 / 186
2012-2022
Flag
GDP GROWTH
20.9%CURRENT US$
Rnk 120 / 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 
$66,983CURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP PC GROWTH
14.5%CURRENT US$
Rnk 99 / 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

Denmark-Iceland Trade: In 2022, Denmark exported $553M to Iceland. The main products that Denmark exported to Iceland were Packaged Medicaments ($59.4M), Refined Petroleum ($46.8M), and Fishing Ships ($43.3M). Over the past 5 years the exports of Denmark to Iceland have increased at an annualized rate of 22.4%, from $201M in 2017 to $553M in 2022.

In 2020, Denmark exported services to Iceland worth $204M, with Computer and information services ($81.4M), Travel ($52.9M), and Other business services ($31.4M) being the largest in terms of value.

Iceland-Denmark Trade: In 2022, Iceland exported $149M to Denmark. The main products that Iceland exported to Denmark were Non-fillet Fresh Fish ($64.4M), Refined Petroleum ($32.3M), and Fish oil ($31.2M). Over the past 5 years the exports of Iceland to Denmark have decreased at an annualized rate of 0.9%,  from $156M in 2017 to $149M in 2022.

In 2019, Iceland exported services to Denmark worth $174M, with Travel ($76.7M), Transportation ($55.2M), and Computer and information services ($20.5M) being the largest in terms of value.

Comparison In 2022,  Denmark ranked 27 in the Economic Complexity Index (ECI 1.01),  and 37 in total exports ($122B). 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, Denmark exported $553M to Iceland. The main products exported from Denmark to Iceland were Packaged Medicaments ($59.4M), Refined Petroleum ($46.8M), and Fishing Ships ($43.3M). During the last 5 years the exports of Denmark to Iceland have increased at an annualized rate of 22.4%, from $201M in 2017 to $553M in 2022.

In 2017, Iceland exported $149M to Denmark. The main products exported from Iceland to Denmark were Non-fillet Fresh Fish ($64.4M), Refined Petroleum ($32.3M), and Fish oil ($31.2M). During the last 22 years the exports of Iceland to Denmark have decreased at an annualized rate of 0.9%, from $156M in 1995 to $149M in 2017.

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

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

Latest Data

Trade between Denmark (Flag) and Iceland (Flag)

Denmark Exports

Iceland Exports

Market Competitiveness

Color
Denmark
Top Destination
Germany$18.9B
Iceland
Top Destination
Netherlands$1.97B

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

In 2022, countries that imported more from Denmark than Iceland included Germany ($18.9B), United States ($13.1B), and Sweden ($11.6B).

In 2022, countries that imported more from Iceland than Denmark included Bahamas ($20.1M), Antigua and Barbuda ($8.12M), and Wallis and Futuna ($3.54M).

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

Comparative Advantage Denmark - Iceland

Flow
Scale

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

During 2022, Denmark had a large net trade with Iceland in the exports of Machines ($104M), Chemical Products ($99.2M), and Transportation ($82.2M).

During 2017, Iceland had a large net trade with Denmark in the exports of Animal Products ($98.9M), Foodstuffs ($51.1M), and Mineral Products ($34.5M).

Service Trade

Bilateral Service Trade

In 2020, Denmark exported services to Iceland worth $204M, with Computer and information services ($81.4M), Travel ($52.9M), and Other business services ($31.4M) being the largest in terms of value.

In 2019, Iceland exported services to Denmark worth $174M, with Travel ($76.7M), Transportation ($55.2M), and Computer and information services ($20.5M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Economic Complexity

Competitive Landscape

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

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

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