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Pricing

2022
Flag → Flag
Exports $482MRnk 66 / 224
2022
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Top Product $107MPlanes, Helicopters, and/or Spacecraft
2022
Flag → Flag
Exports $672MRnk 2 / 160
2022
Flag → Flag
Top Product $219MFish Fillets
2022
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Economic Complexity (ECI) ECI 1.38Rnk 12 / 124
2022
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GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
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GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
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 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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GDP PC $45,850CURRENT US$
Rnk 23 / 186
2012-2022
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GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186
2022
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GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

United Kingdom-Iceland In 2022, United Kingdom exported $482M to Iceland. The main products that United Kingdom exported to Iceland are Planes, Helicopters, and/or Spacecraft ($107M), Coal Briquettes ($37.5M), and Cars ($14.6M). During the last 27 years the exports of United Kingdom to Iceland have increased at an annualized rate of 3.02%, from $216M in 1995 to $482M in 2022.

In 2019, United Kingdom exported services to Iceland worth $268M, with Other business services ($253M), Computer and information services ($15.3M), and Communications services ($3.81M) being the largest in terms of value.

Iceland-United Kingdom In 2022, Iceland exported $672M to United Kingdom. The main products that Iceland exported to United Kingdom were Fish Fillets ($219M), Raw Aluminium ($128M), and Animal Meal and Pellets ($67.1M). During the last 27 years the exports of Iceland to United Kingdom have increased at an annualized rate of 2.23%, from $370M in 1995 to $672M in 2022.

In 2019, Iceland exported services to United Kingdom worth $649M, with Travel ($412M), Transportation ($135M), and Computer and information services ($45.3M) being the largest in terms of value.

Comparison In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.38),  and 14 in total exports ($469B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

January, 2024

About

Overview In January 2024, United Kingdom exported £21.9M and imported £48.1M from Iceland, resulting in a negative trade balance of £26.2M. Between January 2023 and January 2024 the exports of United Kingdom have decreased by £-13.2M (-37.5%) from £35.1M to £21.9M, while imports increased by £7.81M (19.4%) from £40.3M to £48.1M.

Trade In January 2024, the top exports of United Kingdom to Iceland were Gas Turbines (£13.9M), Coal Briquettes (£3.48M), Large Construction Vehicles (£885k), Cars (£819k), and Plastic Lids (£744k). In January 2024 the top imports of United Kingdom from Iceland were Fish Fillets (£18.3M), Fish oil (£6.04M), Processed Crustaceans (£3.61M), Non-fillet Fresh Fish (£2.89M), and Raw Aluminium (£2.36M).

Origins In January 2024 the exports of United Kingdom were mainly from Immingham (£11.4M), Aberdeen (£2.64M), East Midlands Airport (£1.3M), London Heathrow Airport (£1.29M), and Belfast (£1.1M), while imports destinations were mainly Immingham (£31.8M), Inverness (£8.71M), London (£3.97M), East Midlands Airport (£1.73M), and Hull (£841k).

Growth In January 2024, the decrease in United Kingdom's year-by-year exports to Iceland was explained primarily by an decrease in product exports in Animal Food (£-1.49M or -95.7%), Computers (£-519k or -83.4%), and Commodities not elsewhere specified (£-438k or -58.9%). In January 2024, the increase in United Kingdom's year-by-year imports  from Iceland was explained primarily by an increase in product imports  in Packaged Medicaments (£604k or 234%), Commodities not elsewhere specified (£367k or 37.8%), and Processed Crustaceans (£339k or 10.4%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (January 2023 - January 2024)£-13.2M(-37.5%)
IMPORT GROWTH (January 2023 - January 2024)£7.81M(19.4%)
MAIN EXPORTER (January 2024)Immingham£11.4M

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

To check Iceland and United Kingdom trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Iceland and United Kingdom Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United Kingdom exported $482M to Iceland. The main products exported from United Kingdom to Iceland were Planes, Helicopters, and/or Spacecraft ($107M), Coal Briquettes ($37.5M), and Cars ($14.6M). During the last 27 years the exports of United Kingdom to Iceland have increased at an annualized rate of 3.02%, from $216M in 1995 to $482M in 2022.

In 2022, Iceland exported $672M to United Kingdom. The main products exported from Iceland to United Kingdom were Fish Fillets ($219M), Raw Aluminium ($128M), and Animal Meal and Pellets ($67.1M). During the last 27 years the exports of Iceland to United Kingdom have increased at an annualized rate of 2.23%, from $370M in 1995 to $672M in 2022.

Exports from United Kingdom (Flag) to Iceland (Flag) (2022)

Exports from Iceland (Flag) to United Kingdom (Flag) (2022)

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$61.8B
Iceland
Top DestinationNetherlands$1.97B

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

In 2021, countries that imported more from United Kingdom than Iceland were United States ($61.8B), Germany ($40.6B), and Netherlands ($41.9B).

In 2021, countries that imported more from Iceland than United Kingdom were Greenland ($28.2M) and Wallis and Futuna ($3.54M).

Difference in imports from Iceland (Flag) and United Kingdom (Flag) (2022)

Comparative Advantage United Kingdom - Iceland

Flow
Scale

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

During 2022, United Kingdom had a large net trade with Iceland in the exports of Transportation ($140M), Machines ($80.5M), and Mineral Products ($48M).

During 2022, Iceland had a large net trade with United Kingdom in the exports of Animal Products ($293M), Metals ($146M), and Foodstuffs ($117M).

Service Trade

Bilateral Service Trade

In 2019, United Kingdom exported services to Iceland worth $268M, with Other business services ($253M), Computer and information services ($15.3M), and Communications services ($3.81M) being the largest in terms of value.

In 2019, Iceland exported services to United Kingdom worth $649M, with Travel ($412M), Transportation ($135M), and Computer and information services ($45.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom (Flag) to Iceland (Flag) (2019)

Services Exports from Iceland (Flag) to United Kingdom (Flag) (2019)

Economic Complexity

Competitive Landscape

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 United Kingdom has comparative advantage over Iceland. Similarly, the more yellow a dot/product is, the more Iceland has comparative advantage over United Kingdom.

Product Space of United Kingdom (Flag) and Iceland (Flag) (2022)

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