Iceland (ISL) and Bermuda (BMU) Trade | The Observatory of Economic Complexity

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Iceland-Bermuda Trade: In 2022, Iceland exported $741k to Bermuda. The main products that Iceland exported to Bermuda were Refined Petroleum ($660k), Water ($269k), and Other Construction Vehicles ($34.1k). Over the past 5 years the exports of Iceland to Bermuda have increased at an annualized rate of 94.8%, from $26.4k in 2017 to $741k in 2022.

In 2022, Iceland did not export any services to Bermuda.

Bermuda-Iceland Trade: In 2022, Bermuda exported $3.33k to Iceland. The main products that Bermuda exported to Iceland were Refined Petroleum ($21.7k), Perfumes ($199), and Brochures ($64). Over the past 5 years the exports of Bermuda to Iceland have decreased at an annualized rate of 47.2%, from $81.4k in 2017 to $3.33k in 2022.

In 2022, Bermuda did not export any services to Iceland.

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B). That same year, Bermuda ranked 199 in total exports ($68.1M). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iceland exported $741k to Bermuda. The main products exported from Iceland to Bermuda were Refined Petroleum ($660k), Water ($269k), and Other Construction Vehicles ($34.1k). During the last 5 years the exports of Iceland to Bermuda have increased at an annualized rate of 94.8%, from $26.4k in 2017 to $741k in 2022.

In 2017, Bermuda exported $3.33k to Iceland. The main products exported from Bermuda to Iceland were Refined Petroleum ($21.7k), Perfumes ($199), and Brochures ($64). During the last 22 years the exports of Bermuda to Iceland have decreased at an annualized rate of 47.2%, from $81.4k in 1995 to $3.33k in 2017.

Exports from Iceland () to Bermuda () (2022)

Exports from Bermuda () to Iceland () (2022)

Latest Data

Trade between Iceland () and Bermuda ()

Iceland Exports

Date

Bermuda Exports

Date

Sep 2018

Jul 2015

Aug 2014

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Bermuda
Top DestinationZambia$17.5M

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

In 2022, countries that imported more from Iceland than Bermuda included Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

In 2022, countries that imported more from Bermuda than Iceland included Zambia ($17.5M), Angola ($7.13M), and Tanzania ($5.76M).

Difference in imports from Bermuda () and Iceland () (2022)

Comparative Advantage Iceland - Bermuda

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Bermuda in the exports of Mineral Products ($660k), Foodstuffs ($279k), and Machines ($34.1k).

During 2017, Bermuda had a large net trade with Iceland in the exports of Mineral Products ($21.7k), Chemical Products ($199), and Paper Goods ($64).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Iceland () to Bermuda () (2022)

Exports from Bermuda () to Iceland () (2022)

Latest Data

Trade between Iceland () and Bermuda ()

Iceland Exports

Bermuda Exports

Market Competitiveness

Difference in imports from Bermuda () and Iceland () (2022)

Comparative Advantage Iceland - Bermuda

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Iceland () and Bermuda () (2022)

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