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2022
Flag → Flag
Exports $672MRnk 2 / 160
2022
Flag → Flag
Top Product $219MFish Fillets
2022
Flag → Flag
Exports $482MRnk 66 / 224
2022
Flag → Flag
Top Product $107MPlanes, Helicopters, and/or Spacecraft
2022
Flag
Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
Flag  
GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
 GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
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GDP PC $72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186
2022
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GDP PC$45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186

About

Iceland-United Kingdom Trade: In 2022, Iceland exported $672M to United Kingdom. The main products that Iceland exported to United Kingdom were Fish Fillets ($219M), Raw Aluminium ($128M), and Animal Meal and Pellets ($67.1M). Over the past 5 years the exports of Iceland to United Kingdom have increased at an annualized rate of 7.32%, from $472M in 2017 to $672M in 2022.

In 2019, Iceland exported services to United Kingdom worth $649M, with Travel ($412M), Transportation ($135M), and Computer and information services ($45.3M) being the largest in terms of value.

United Kingdom-Iceland Trade: In 2022, United Kingdom exported $482M to Iceland. The main products that United Kingdom exported to Iceland were Planes, Helicopters, and/or Spacecraft ($107M), Coal Briquettes ($37.5M), and Cars ($14.6M). Over the past 5 years the exports of United Kingdom to Iceland have decreased at an annualized rate of 1.91%,  from $531M in 2017 to $482M in 2022.

In 2019, United Kingdom exported services to Iceland worth $268M, with Other business services ($253M), Computer and information services ($15.3M), and Communications services ($3.81M) 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, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $672M to United Kingdom. The main products exported from Iceland to United Kingdom were Fish Fillets ($219M), Raw Aluminium ($128M), and Animal Meal and Pellets ($67.1M). During the last 5 years the exports of Iceland to United Kingdom have increased at an annualized rate of 7.32%, from $472M in 2017 to $672M in 2022.

In 2017, United Kingdom exported $482M to Iceland. The main products exported from United Kingdom to Iceland were Planes, Helicopters, and/or Spacecraft ($107M), Coal Briquettes ($37.5M), and Cars ($14.6M). During the last 5 years the exports of United Kingdom to Iceland have decreased at an annualized rate of 1.91%, from $531M in 2022 to $482M in 2017.

Exports from Iceland (Flag) to United Kingdom (Flag) (2022)

Exports from United Kingdom (Flag) to Iceland (Flag) (2022)

Latest Data

Trade between Iceland (Flag) and United Kingdom (Flag)

Iceland Exports

United Kingdom Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
United Kingdom
Top DestinationUnited States$61.8B

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

In 2022, countries that imported more from Iceland than United Kingdom included Greenland ($28.2M) and Wallis and Futuna ($3.54M).

In 2022, countries that imported more from United Kingdom than Iceland included United States ($61.8B), Germany ($40.6B), and Netherlands ($41.9B).

Difference in imports from United Kingdom (Flag) and Iceland (Flag) (2022)

Comparative Advantage Iceland - United Kingdom

Flow
Scale

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

During 2022, Iceland had a large net trade with United Kingdom in the exports of Animal Products ($293M), Metals ($146M), and Foodstuffs ($117M).

During 2017, United Kingdom had a large net trade with Iceland in the exports of Transportation ($140M), Machines ($80.5M), and Mineral Products ($48M).

Bilateral Service Trade

In 2019, Iceland exported services to United Kingdom worth $649M, with Travel ($412M), Transportation ($135M), and Computer and information services ($45.3M) being the largest in terms of value.

In 2019, United Kingdom exported services to Iceland worth $268M, with Other business services ($253M), Computer and information services ($15.3M), and Communications services ($3.81M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to United Kingdom (Flag) (2019)

Services Exports from United Kingdom (Flag) to Iceland (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and United Kingdom (Flag) (2022)

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