2022
Flag  
GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH
88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
 GDP
$38.1BCURRENT US$
Rnk 99 / 186
2012-2022
Flag
GDP GROWTH
65.5%CURRENT US$
Rnk 34 / 186
2022
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GDP PC 
$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH
58.5%CURRENT US$
Rnk 29 / 186
2022
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GDP PC
$28,333CURRENT US$
Rnk 41 / 186
2012-2022
Flag
GDP PC GROWTH
62.8%CURRENT US$
Rnk 23 / 186

About

Iceland-Estonia In 2022, Iceland exported $6.36M to Estonia. The main products that Iceland exported to Estonia are Refined Petroleum ($2.04M), Packaged Medicaments ($1.04M), and Non-fillet Frozen Fish ($938k). During the last 27 years the exports of Iceland to Estonia have increased at an annualized rate of 8.66%, from $675k in 1995 to $6.36M in 2022.

In 2019, Iceland exported services to Estonia worth $8.62M, with Other business services ($4.7M), Travel ($2.91M), and Transportation ($672k) being the largest in terms of value.

Estonia-Iceland In 2022, Estonia exported $58.3M to Iceland. The main products that Estonia exported to Iceland were Crustaceans ($10.3M), Prefabricated Buildings ($7.18M), and Mixed Mineral or Chemical Fertilizers ($7.05M). During the last 27 years the exports of Estonia to Iceland have increased at an annualized rate of 9.81%, from $4.66M in 1995 to $58.3M in 2022.

In 2020, Estonia exported services to Iceland worth $4.45M, with Other business services ($1.83M), Personal, cultural, and recreational services ($1.03M), and Transportation ($457k) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B). That same year, Estonia ranked 74 in total exports ($23.1B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $6.36M to Estonia. The main products exported from Iceland to Estonia were Refined Petroleum ($2.04M), Packaged Medicaments ($1.04M), and Non-fillet Frozen Fish ($938k). During the last 27 years the exports of Iceland to Estonia have increased at an annualized rate of 8.66%, from $675k in 1995 to $6.36M in 2022.

In 2022, Estonia exported $58.3M to Iceland. The main products exported from Estonia to Iceland were Crustaceans ($10.3M), Prefabricated Buildings ($7.18M), and Mixed Mineral or Chemical Fertilizers ($7.05M). During the last 27 years the exports of Estonia to Iceland have increased at an annualized rate of 9.81%, from $4.66M in 1995 to $58.3M in 2022.

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

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

Latest Data

Trade between Iceland (Flag) and Estonia (Flag)

Iceland Exports

Estonia Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Estonia
Top Destination
Finland$3B

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

In 2021, countries that imported more from Iceland than Estonia were Netherlands ($1.97B), United Kingdom ($672M), and Spain ($319M).

In 2021, countries that imported more from Estonia than Iceland were Finland ($3B), Latvia ($2.77B), and Sweden ($1.9B).

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

Comparative Advantage Iceland - Estonia

Flow
Scale

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

During 2022, Iceland had a large net trade with Estonia in the exports of Mineral Products ($2.27M), Animal Products ($1.36M), and Chemical Products ($1.35M).

During 2022, Estonia had a large net trade with Iceland in the exports of Animal Products ($10.4M), Miscellaneous ($9.96M), and Chemical Products ($9.29M).

Service Trade

Bilateral Service Trade

In 2019, Iceland exported services to Estonia worth $8.62M, with Other business services ($4.7M), Travel ($2.91M), and Transportation ($672k) being the largest in terms of value.

In 2020, Estonia exported services to Iceland worth $4.45M, with Other business services ($1.83M), Personal, cultural, and recreational services ($1.03M), and Transportation ($457k) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Estonia (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 Estonia. Similarly, the more yellow a dot/product is, the more Estonia has comparative advantage over Iceland.

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

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