Iceland (ISL) and Ecuador (ECU) Trade | The Observatory of Economic Complexity

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Iceland-Ecuador Trade: In 2022, Iceland exported $193k to Ecuador. The main products that Iceland exported to Ecuador were Industrial Food Preperation Machinery ($75.9k), Revolution Counters ($44.2k), and Orthopedic Appliances ($13.7k). Over the past 5 years the exports of Iceland to Ecuador have decreased at an annualized rate of 34.4%, from $1.59M in 2017 to $193k in 2022.

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

Ecuador-Iceland Trade: In 2022, Ecuador exported $5.65M to Iceland. The main products that Ecuador exported to Iceland were Bananas ($5.12M), Fish oil ($321k), and Cut Flowers ($77.7k). Over the past 5 years the exports of Ecuador to Iceland have increased at an annualized rate of 4.92%, from $4.44M in 2017 to $5.65M in 2022.

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

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Ecuador ranked 109 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iceland exported $193k to Ecuador. The main products exported from Iceland to Ecuador were Industrial Food Preperation Machinery ($75.9k), Revolution Counters ($44.2k), and Orthopedic Appliances ($13.7k). During the last 5 years the exports of Iceland to Ecuador have decreased at an annualized rate of 34.4%, from $1.59M in 2017 to $193k in 2022.

In 2017, Ecuador exported $5.65M to Iceland. The main products exported from Ecuador to Iceland were Bananas ($5.12M), Fish oil ($321k), and Cut Flowers ($77.7k). During the last 5 years the exports of Ecuador to Iceland have increased at an annualized rate of 4.92%, from $4.44M in 2022 to $5.65M in 2017.

Exports from Iceland () to Ecuador () (2022)

Exports from Ecuador () to Iceland () (2022)

Latest Data

Trade between Iceland () and Ecuador ()

Iceland Exports

Date

Ecuador Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Ecuador
Top DestinationUnited States$9.86B

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

In 2022, countries that imported more from Iceland than Ecuador included Netherlands ($1.97B), Norway ($459M), and United Kingdom ($672M).

In 2022, countries that imported more from Ecuador than Iceland included United States ($9.86B), China ($6.17B), and Panama ($4.97B).

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

Comparative Advantage Iceland - Ecuador

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Ecuador in the exports of Machines ($86.8k), Instruments ($66.7k), and Chemical Products ($12.2k).

During 2017, Ecuador had a large net trade with Iceland in the exports of Vegetable Products ($5.23M), Animal and Vegetable Bi-Products ($321k), and Foodstuffs ($55.4k).

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

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Historical Data

Bilateral Trade by Products

Exports from Iceland () to Ecuador () (2022)

Exports from Ecuador () to Iceland () (2022)

Latest Data

Trade between Iceland () and Ecuador ()

Iceland Exports

Ecuador Exports

Market Competitiveness

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

Comparative Advantage Iceland - Ecuador

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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