Iceland (ISL) and Barbados (BRB) Trade | The Observatory of Economic Complexity

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Iceland-Barbados Trade: In 2022, Iceland exported $267k to Barbados. The main products that Iceland exported to Barbados were Refined Petroleum ($1.3M), Fish oil ($60.7k), and Antiknock ($19k). Over the past 5 years the exports of Iceland to Barbados have increased at an annualized rate of 72.4%, from $17.5k in 2017 to $267k in 2022.

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

Barbados-Iceland Trade: In 2022, Barbados exported $5.24k to Iceland. The main products that Barbados exported to Iceland were Hard Liquor ($6.73k), Paper Labels ($1.17k), and Knit Sweaters ($92). Over the past 5 years the exports of Barbados to Iceland have increased at an annualized rate of 8.2%, from $3.53k in 2017 to $5.24k in 2022.

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

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B). That same year, Barbados ranked 176 in total exports ($393M). 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 $267k to Barbados. The main products exported from Iceland to Barbados were Refined Petroleum ($1.3M), Fish oil ($60.7k), and Antiknock ($19k). During the last 5 years the exports of Iceland to Barbados have increased at an annualized rate of 72.4%, from $17.5k in 2017 to $267k in 2022.

In 2017, Barbados exported $5.24k to Iceland. The main products exported from Barbados to Iceland were Hard Liquor ($6.73k), Paper Labels ($1.17k), and Knit Sweaters ($92). During the last 21 years the exports of Barbados to Iceland have increased at an annualized rate of 8.2%, from $3.53k in 1996 to $5.24k in 2017.

Exports from Iceland () to Barbados () (2022)

Exports from Barbados () to Iceland () (2022)

Latest Data

Trade between Iceland () and Barbados ()

Iceland Exports

Date

Barbados Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Barbados
Top DestinationUnited States$88.6M

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

In 2022, countries that imported more from Iceland than Barbados included Netherlands ($1.97B), United Kingdom ($672M), and Germany ($573M).

In 2022, countries that imported more from Barbados than Iceland included Jamaica ($43.3M), Trinidad and Tobago ($33.8M), and Guyana ($29.7M).

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

Comparative Advantage Iceland - Barbados

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Barbados in the exports of Mineral Products ($1.3M), Animal and Vegetable Bi-Products ($60.7k), and Chemical Products ($19k).

During 2017, Barbados had a large net trade with Iceland in the exports of Foodstuffs ($6.73k), Paper Goods ($1.17k), and Textiles ($92).

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 Barbados. This means that a dot/product with the flag of Iceland indicates it has a comparative advantage over Barbados. Similarly, a dot/product with the flag of Barbados indicates it has a comparative advantage over Iceland.

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Historical Data

Bilateral Trade by Products

Exports from Iceland () to Barbados () (2022)

Exports from Barbados () to Iceland () (2022)

Latest Data

Trade between Iceland () and Barbados ()

Iceland Exports

Barbados Exports

Market Competitiveness

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

Comparative Advantage Iceland - Barbados

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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