Flag Iceland / Austria Flag

2021
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Exports
: $3.79M, Rnk 51 / 162

2021
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Top Product
: $1.21M, Horses

2021
FlagFlag
Exports
: $52.5M, Rnk 86 / 217

2021
FlagFlag
Top Product
: $8.17M, Micro-Organism Culture Preparations

2021
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Economic Complexity (ECI)
: ECI 1.5, Rnk 9 / 131

2021
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GDP
: $25.5B, CURRENT US$
Rnk 104 / 182

2011-2021
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GDP GROWTH
: 67.3%, CURRENT US$
Rnk 32 / 182

2021
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 GDP
: $477B, CURRENT US$
Rnk 29 / 182

2011-2021
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GDP GROWTH
: 10.5%, CURRENT US$
Rnk 129 / 182

2021
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GDP PC 
: $68,384, CURRENT US$
Rnk 8 / 182

2011-2021
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GDP PC GROWTH
: 43.3%, CURRENT US$
Rnk 38 / 182

2021
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GDP PC
: $53,268, CURRENT US$
Rnk 15 / 182

2011-2021
Flag
GDP PC GROWTH
: 3.55%, CURRENT US$
Rnk 116 / 182

Iceland-Austria In 2021, Iceland exported $3.79M to Austria. The main products that Iceland exported to Austria are Horses ($1.21M), Photo Lab Equipment ($928k), and Processed Fish ($443k). During the last 26 years the exports of Iceland to Austria have increased at an annualized rate of 0.12%, from $3.68M in 1995 to $3.79M in 2021.

In 2019, Iceland exported services to Austria worth $34.1M, with Travel ($25.9M), Computer and information services ($4.81M), and Transportation ($2.46M) being the largest in terms of value.

Austria-Iceland In 2021, Austria exported $52.5M to Iceland. The main products that Austria exported to Iceland were Micro-Organism Culture Preparations ($8.17M), Wood Carpentry ($5.54M), and Electric Motor Parts ($2.82M). During the last 26 years the exports of Austria to Iceland have increased at an annualized rate of 6.05%, from $11.4M in 1995 to $52.5M in 2021.

In 2020, Austria exported services to Iceland worth $16M, with Travel ($6.85M), Construction services ($3.43M), and Communications services ($2.28M) being the largest in terms of value.

Comparison In 2021,  Iceland ranked 113 in total exports ($6.76B), and does not have data regarding Economic Complexity Index. That same year, Austria ranked 9 in the Economic Complexity Index (ECI 1.5), and 31 in total exports ($198B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, Iceland exported $3.79M to Austria. The main products exported from Iceland to Austria were Horses ($1.21M), Photo Lab Equipment ($928k), and Processed Fish ($443k). During the last 26 years the exports of Iceland to Austria have increased at an annualized rate of 0.12%, from $3.68M in 1995 to $3.79M in 2021.

In 2021, Austria exported $52.5M to Iceland. The main products exported from Austria to Iceland were Micro-Organism Culture Preparations ($8.17M), Wood Carpentry ($5.54M), and Electric Motor Parts ($2.82M). During the last 26 years the exports of Austria to Iceland have increased at an annualized rate of 6.05%, from $11.4M in 1995 to $52.5M in 2021.

Iceland Exports

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Austria Exports

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Market Competitiveness

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Color

Iceland
Top Destination
: Netherlands, $1.65B

Austria
Top Destination
: Germany, $56.4B

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

In 2021, countries that imported more from Iceland than Austria were Greenland ($18.1M), Antigua and Barbuda ($1.02M), and British Virgin Islands ($415k).

In 2021, countries that imported more from Austria than Iceland were Germany ($56.4B), Italy ($13.1B), and United States ($12.7B).

Comparative Advantage Iceland - Austria

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Flow
Scale

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

During 2021, Iceland had a large net trade with Austria in the exports of Animal Products ($1.22M), Instruments ($1.15M), and Foodstuffs ($458k).

During 2021, Austria had a large net trade with Iceland in the exports of Machines ($16.1M), Chemical Products ($10.9M), and Wood Products ($6.79M).

Bilateral Service Trade

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In 2019, Iceland exported services to Austria worth $34.1M, with Travel ($25.9M), Computer and information services ($4.81M), and Transportation ($2.46M) being the largest in terms of value.

In 2020, Austria exported services to Iceland worth $16M, with Travel ($6.85M), Construction services ($3.43M), and Communications services ($2.28M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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