2022
Flag  
GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH
88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
 GDP
$395BCURRENT US$
Rnk 39 / 186
2012-2022
Flag
GDP GROWTH
20.9%CURRENT US$
Rnk 120 / 186
2022
Flag
GDP PC 
$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH
58.5%CURRENT US$
Rnk 29 / 186
2022
Flag
GDP PC
$66,983CURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP PC GROWTH
14.5%CURRENT US$
Rnk 99 / 186

About

Iceland-Denmark In 2022, Iceland exported $257M to Denmark. The main products that Iceland exported to Denmark are Non-fillet Fresh Fish ($64.4M), Refined Petroleum ($32.3M), and Fish oil ($31.2M). During the last 27 years the exports of Iceland to Denmark have increased at an annualized rate of 1.86%, from $156M in 1995 to $257M in 2022.

In 2019, Iceland exported services to Denmark worth $174M, with Travel ($76.7M), Transportation ($55.2M), and Computer and information services ($20.5M) being the largest in terms of value.

Denmark-Iceland In 2022, Denmark exported $744M to Iceland. The main products that Denmark exported to Iceland were Packaged Medicaments ($59.4M), Refined Petroleum ($46.8M), and Fishing Ships ($43.3M). During the last 27 years the exports of Denmark to Iceland have increased at an annualized rate of 4.97%, from $201M in 1995 to $744M in 2022.

In 2020, Denmark exported services to Iceland worth $204M, with Computer and information services ($81.4M), Travel ($52.9M), and Other business services ($31.4M) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Denmark ranked 23 in the Economic Complexity Index (ECI 1.01), and 37 in total exports ($122B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $257M to Denmark. The main products exported from Iceland to Denmark were Non-fillet Fresh Fish ($64.4M), Refined Petroleum ($32.3M), and Fish oil ($31.2M). During the last 27 years the exports of Iceland to Denmark have increased at an annualized rate of 1.86%, from $156M in 1995 to $257M in 2022.

In 2022, Denmark exported $744M to Iceland. The main products exported from Denmark to Iceland were Packaged Medicaments ($59.4M), Refined Petroleum ($46.8M), and Fishing Ships ($43.3M). During the last 27 years the exports of Denmark to Iceland have increased at an annualized rate of 4.97%, from $201M in 1995 to $744M in 2022.

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

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

Latest Data

Trade between Iceland (Flag) and Denmark (Flag)

Iceland Exports

Denmark Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Denmark
Top Destination
Germany$18.9B

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

In 2021, countries that imported more from Iceland than Denmark were Bahamas ($20.1M), Antigua and Barbuda ($8.12M), and Wallis and Futuna ($3.54M).

In 2021, countries that imported more from Denmark than Iceland were Germany ($18.9B), United States ($13.1B), and Sweden ($11.6B).

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

Comparative Advantage Iceland - Denmark

Flow
Scale

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

During 2022, Iceland had a large net trade with Denmark in the exports of Animal Products ($98.9M), Foodstuffs ($51.1M), and Mineral Products ($34.5M).

During 2022, Denmark had a large net trade with Iceland in the exports of Machines ($104M), Chemical Products ($99.2M), and Transportation ($82.2M).

Service Trade

Bilateral Service Trade

In 2019, Iceland exported services to Denmark worth $174M, with Travel ($76.7M), Transportation ($55.2M), and Computer and information services ($20.5M) being the largest in terms of value.

In 2020, Denmark exported services to Iceland worth $204M, with Computer and information services ($81.4M), Travel ($52.9M), and Other business services ($31.4M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Economic Complexity

Competitive Landscape

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

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

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