2023
Flag  
GDP
$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH
94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP
$30.8BCURRENT US$
Rnk 109 / 195
2013-2023
Flag
GDP GROWTH
75.7%CURRENT US$
Rnk 33 / 195
2023
Flag
GDP PC 
$79,637CURRENT US$
Rnk 11 / 195
2013-2023
Flag
GDP PC GROWTH
59.9%CURRENT US$
Rnk 31 / 195
2023
Flag
GDP PC
$8,284CURRENT US$
Rnk 94 / 196
2013-2023
Flag
GDP PC GROWTH
75.8%CURRENT US$
Rnk 19 / 195

About

Iceland-Georgia Trade: In 2023, Iceland exported $4.74M to Georgia. The main products that Iceland exported to Georgia were Non-fillet Frozen Fish ($4.57M), Live Fish ($74.2k), and Other Inedible Animal Products ($73.1k). Over the past 5 years the exports of Iceland to Georgia have decreased at an annualized rate of 1.11%, from $5.01M in 2018 to $4.74M in 2023.

In 2023, Iceland did not export any services to Georgia.

Georgia-Iceland Trade: In 2023, Georgia exported $321k to Iceland. The main products that Georgia exported to Iceland were Other Edible Preparations ($125k), Knit T-shirts ($79.2k), and Light Fixtures ($15k). Over the past 5 years the exports of Georgia to Iceland have increased at an annualized rate of 6.91%,  from $230k in 2018 to $321k in 2023.

In 2023, Georgia did not export any services to Iceland.

Comparison In 2023,  Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $4.74M to Georgia. The main products exported from Iceland to Georgia were Non-fillet Frozen Fish ($4.57M), Live Fish ($74.2k), and Other Inedible Animal Products ($73.1k). During the last 5 years the exports of Iceland to Georgia have decreased at an annualized rate of 1.11%, from $5.01M in 2018 to $4.74M in 2023.

In 2018, Georgia exported $321k to Iceland. The main products exported from Georgia to Iceland were Other Edible Preparations ($125k), Knit T-shirts ($79.2k), and Light Fixtures ($15k). During the last 5 years the exports of Georgia to Iceland have increased at an annualized rate of 6.91%, from $230k in 2023 to $321k in 2018.

Exports from Iceland (Flag) to Georgia (Flag) (2023)

Exports from Georgia (Flag) to Iceland (Flag) (2023)

Latest Data

Trade between Iceland (Flag) and Georgia (Flag)

Iceland Exports

Georgia Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Georgia
Top Destination
Azerbaijan$828M

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

In 2023, countries that imported more from Iceland than Georgia included Netherlands ($1.97B), Germany ($771M), and United States ($735M).

In 2023, countries that imported more from Georgia than Iceland included Azerbaijan ($828M), Armenia ($712M), and Turkey ($733M).

Difference in imports from Georgia (Flag) and Iceland (Flag) (2023)

Comparative Advantage Iceland - Georgia

Flow
Scale

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

During 2023, Iceland had a large net trade with Georgia in the exports of Animal Products ($4.72M), Transportation ($15k), and Mineral Products ($10.1k).

During 2018, Georgia had a large net trade with Iceland in the exports of Foodstuffs ($138k), Textiles ($108k), and Metals ($24.2k).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and Georgia (Flag) (2023)

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