2022
Flag  
GDP
$281BCURRENT US$
Rnk 47 / 186
2012-2022
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GDP GROWTH
8.73%CURRENT US$
Rnk 147 / 186
2022
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 GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH
88.7%CURRENT US$
Rnk 20 / 186
2022
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GDP PC 
$50,537CURRENT US$
Rnk 18 / 186
2012-2022
Flag
GDP PC GROWTH
5.93%CURRENT US$
Rnk 127 / 186
2022
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GDP PC
$72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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About

Finland-Iceland Trade: In 2022, Finland exported $66.5M to Iceland. The main products that Finland exported to Iceland were Mixed Mineral or Chemical Fertilizers ($8.65M), Plywood ($6.58M), and Rubber Tires ($3.94M). Over the past 5 years the exports of Finland to Iceland have increased at an annualized rate of 14.1%, from $34.3M in 2017 to $66.5M in 2022.

In 2020, Finland exported services to Iceland worth $3.43M, with Transportation ($1.14M), Royalties and license fees ($1.14M), and Other business services ($1.14M) being the largest in terms of value.

Iceland-Finland Trade: In 2022, Iceland exported $8.19M to Finland. The main products that Iceland exported to Finland were Ferroalloys ($10.3M), Amino-resins ($3.82M), and Aluminium Wire ($3.42M). Over the past 5 years the exports of Iceland to Finland have decreased at an annualized rate of 3.47%,  from $9.77M in 2017 to $8.19M in 2022.

In 2019, Iceland exported services to Finland worth $50.8M, with Travel ($23.5M), Transportation ($21.7M), and Computer and information services ($2.57M) being the largest in terms of value.

Comparison In 2022,  Finland ranked 13 in the Economic Complexity Index (ECI 1.41),  and 46 in total exports ($89.9B). 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, Finland exported $66.5M to Iceland. The main products exported from Finland to Iceland were Mixed Mineral or Chemical Fertilizers ($8.65M), Plywood ($6.58M), and Rubber Tires ($3.94M). During the last 5 years the exports of Finland to Iceland have increased at an annualized rate of 14.1%, from $34.3M in 2017 to $66.5M in 2022.

In 2017, Iceland exported $8.19M to Finland. The main products exported from Iceland to Finland were Ferroalloys ($10.3M), Amino-resins ($3.82M), and Aluminium Wire ($3.42M). During the last 22 years the exports of Iceland to Finland have decreased at an annualized rate of 3.47%, from $9.77M in 1995 to $8.19M in 2017.

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

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

Latest Data

Trade between Finland (Flag) and Iceland (Flag)

Finland Exports

Iceland Exports

Market Competitiveness

Color
Finland
Top Destination
Germany$9.99B
Iceland
Top Destination
Netherlands$1.97B

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

In 2022, countries that imported more from Finland than Iceland included Germany ($9.99B), Sweden ($9.1B), and United States ($9.17B).

In 2022, countries that imported more from Iceland than Finland included Greenland ($28.2M), Bahamas ($20.1M), and Wallis and Futuna ($3.54M).

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

Comparative Advantage Finland - Iceland

Flow
Scale

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

During 2022, Finland had a large net trade with Iceland in the exports of Machines ($20M), Chemical Products ($12M), and Wood Products ($11.1M).

During 2017, Iceland had a large net trade with Finland in the exports of Metals ($14M), Plastics and Rubbers ($4.06M), and Foodstuffs ($2.58M).

Potential Exports

Potential Exports

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

N/A

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Bilateral Service Trade

In 2020, Finland exported services to Iceland worth $3.43M, with Transportation ($1.14M), Royalties and license fees ($1.14M), and Other business services ($1.14M) being the largest in terms of value.

In 2019, Iceland exported services to Finland worth $50.8M, with Travel ($23.5M), Transportation ($21.7M), and Computer and information services ($2.57M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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