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2023
Flag → Flag
Exports $38.3MRnk 7 / 76
2023
Flag → Flag
Top Product $20.9MFishing Ships
2023
Flag → Flag
Exports $72.3MRnk 18 / 157
2023
Flag → Flag
Top Product $36MRefined Petroleum
2023
Flag
 GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
GDP PC$79,637CURRENT US$
Rnk 11 / 196
2013-2023
Flag
GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195

About

Greenland-Iceland Trade: In 2023, Greenland exported $38.3M to Iceland. The main products that Greenland exported to Iceland were Fishing Ships ($20.9M), Non-fillet Fresh Fish ($9.09M), and Other Inedible Animal Products ($3.12M). Over the past 5 years the exports of Greenland to Iceland have increased at an annualized rate of 29.5%, from $10.5M in 2018 to $38.3M in 2023.

In 2023, Greenland did not export any services to Iceland.

Iceland-Greenland Trade: In 2023, Iceland exported $72.3M to Greenland. The main products that Iceland exported to Greenland were Refined Petroleum ($36M), Fishing Ships ($21.6M), and Phosphinates (hypophosphites) and phosphonates (phosphites) ($3.22M). Over the past 5 years the exports of Iceland to Greenland have increased at an annualized rate of 24.6%,  from $24.1M in 2018 to $72.3M in 2023.

In 2023, Iceland did not export any services to Greenland.

Comparison In 2023,  Greenland ranked 150 in total exports ($1.66B). That same year, Iceland ranked 115 in total exports ($7.31B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Greenland exported $38.3M to Iceland. The main products exported from Greenland to Iceland were Fishing Ships ($20.9M), Non-fillet Fresh Fish ($9.09M), and Other Inedible Animal Products ($3.12M). During the last 5 years the exports of Greenland to Iceland have increased at an annualized rate of 29.5%, from $10.5M in 2018 to $38.3M in 2023.

In 2018, Iceland exported $72.3M to Greenland. The main products exported from Iceland to Greenland were Refined Petroleum ($36M), Fishing Ships ($21.6M), and Phosphinates (hypophosphites) and phosphonates (phosphites) ($3.22M). During the last 5 years the exports of Iceland to Greenland have increased at an annualized rate of 24.6%, from $24.1M in 2023 to $72.3M in 2018.

Exports from Greenland (Flag) to Iceland (Flag) (2023)

Exports from Iceland (Flag) to Greenland (Flag) (2023)

Latest Data

Trade between Greenland (Flag) and Iceland (Flag)

Greenland Exports

Iceland Exports

Market Competitiveness

Color
Greenland
Top DestinationDenmark$830M
Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Greenland than Iceland included Denmark ($830M), China ($380M), and Morocco ($12.9M).

In 2023, countries that imported more from Iceland than Greenland included Netherlands ($1.97B), Germany ($771M), and United States ($735M).

Difference in imports from Iceland (Flag) and Greenland (Flag) (2023)

Comparative Advantage Greenland - Iceland

Flow
Scale

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

During 2023, Greenland had a large net trade with Iceland in the exports of Transportation ($20.9M), Animal Products ($15.1M), and Foodstuffs ($1.02M).

During 2018, Iceland had a large net trade with Greenland in the exports of Mineral Products ($36.2M), Transportation ($22.3M), and Chemical Products ($3.31M).

Economic Complexity

Competitive Landscape

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

Product Space of Greenland (Flag) and Iceland (Flag) (2023)

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