2022
Flag  
GDP
$219BCURRENT US$
Rnk 54 / 186
2012-2022
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GDP GROWTH
-9.49%CURRENT US$
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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 
$20,732CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
-5.39%CURRENT US$
Rnk 154 / 186
2022
Flag
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

Greece-Iceland Trade: In 2022, Greece exported $7.53M to Iceland. The main products that Greece exported to Iceland were Lifting Machinery ($611k), Insulated Wire ($551k), and Other Edible Preparations ($525k). Over the past 5 years the exports of Greece to Iceland have increased at an annualized rate of 1.95%, from $6.83M in 2017 to $7.53M in 2022.

In 2020, Greece exported services to Iceland worth $800k, with Transportation ($343k), Travel ($228k), and Personal, cultural, and recreational services ($114k) being the largest in terms of value.

Iceland-Greece Trade: In 2022, Iceland exported $13.4M to Greece. The main products that Iceland exported to Greece were Animal Meal and Pellets ($3.87M), Fish oil ($3.34M), and Fish: dried, salted, smoked or in brine ($2.37M). Over the past 5 years the exports of Iceland to Greece have increased at an annualized rate of 7.71%,  from $5.48M in 2017 to $13.4M in 2022.

In 2019, Iceland exported services to Greece worth $8.84M, with Travel ($4.81M), Transportation ($3.02M), and Royalties and license fees ($560k) being the largest in terms of value.

Comparison In 2022,  Greece ranked 50 in the Economic Complexity Index (ECI 0.33),  and 57 in total exports ($55.7B). 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, Greece exported $7.53M to Iceland. The main products exported from Greece to Iceland were Lifting Machinery ($611k), Insulated Wire ($551k), and Other Edible Preparations ($525k). During the last 5 years the exports of Greece to Iceland have increased at an annualized rate of 1.95%, from $6.83M in 2017 to $7.53M in 2022.

In 2017, Iceland exported $13.4M to Greece. The main products exported from Iceland to Greece were Animal Meal and Pellets ($3.87M), Fish oil ($3.34M), and Fish: dried, salted, smoked or in brine ($2.37M). During the last 5 years the exports of Iceland to Greece have increased at an annualized rate of 7.71%, from $5.48M in 2022 to $13.4M in 2017.

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

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

Latest Data

Trade between Greece (Flag) and Iceland (Flag)

Greece Exports

Iceland Exports

Market Competitiveness

Color
Greece
Top Destination
Italy$5.82B
Iceland
Top Destination
Netherlands$1.97B

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

In 2022, countries that imported more from Greece than Iceland included Italy ($5.82B), Bulgaria ($3.62B), and Cyprus ($2.92B).

In 2022, countries that imported more from Iceland than Greece included Netherlands ($1.97B), Norway ($459M), and Denmark ($257M).

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

Comparative Advantage Greece - Iceland

Flow
Scale

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

During 2022, Greece had a large net trade with Iceland in the exports of Machines ($2.76M), Foodstuffs ($1.08M), and Metals ($836k).

During 2017, Iceland had a large net trade with Greece in the exports of Animal Products ($5.17M), Foodstuffs ($3.94M), and Animal and Vegetable Bi-Products ($3.34M).

Bilateral Service Trade

In 2020, Greece exported services to Iceland worth $800k, with Transportation ($343k), Travel ($228k), and Personal, cultural, and recreational services ($114k) being the largest in terms of value.

In 2019, Iceland exported services to Greece worth $8.84M, with Travel ($4.81M), Transportation ($3.02M), and Royalties and license fees ($560k) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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