2022
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GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH
88.7%CURRENT US$
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2022
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GDP PC 
$72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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About

Iceland-Greenland In 2022, Iceland exported $28.2M to Greenland. The main products that Iceland exported to Greenland are Refined Petroleum ($17M), Phosphinates (hypophosphites) and phosphonates (phosphites) ($2.15M), and Fish: dried, salted, smoked or in brine ($934k). During the last 27 years the exports of Iceland to Greenland have increased at an annualized rate of 1.59%, from $18.5M in 1995 to $28.2M in 2022.

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

Greenland-Iceland In 2022, Greenland exported $18.9M to Iceland. The main products that Greenland exported to Iceland were Non-fillet Fresh Fish ($9.43M), Other Inedible Animal Products ($3.3M), and Crustaceans ($3.26M). During the last 27 years the exports of Greenland to Iceland have increased at an annualized rate of 5.01%, from $5.04M in 1995 to $18.9M in 2022.

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

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B). That same year, Greenland ranked 152 in total exports ($1.49B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $28.2M to Greenland. The main products exported from Iceland to Greenland were Refined Petroleum ($17M), Phosphinates (hypophosphites) and phosphonates (phosphites) ($2.15M), and Fish: dried, salted, smoked or in brine ($934k). During the last 27 years the exports of Iceland to Greenland have increased at an annualized rate of 1.59%, from $18.5M in 1995 to $28.2M in 2022.

In 2022, Greenland exported $18.9M to Iceland. The main products exported from Greenland to Iceland were Non-fillet Fresh Fish ($9.43M), Other Inedible Animal Products ($3.3M), and Crustaceans ($3.26M). During the last 27 years the exports of Greenland to Iceland have increased at an annualized rate of 5.01%, from $5.04M in 1995 to $18.9M in 2022.

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

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

Latest Data

Trade between Iceland (Flag) and Greenland (Flag)

Iceland Exports

Greenland Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Greenland
Top Destination
Denmark$731M

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

In 2021, countries that imported more from Iceland than Greenland were Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

In 2021, countries that imported more from Greenland than Iceland were Denmark ($731M), China ($353M), and Chinese Taipei ($51.1M).

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

Comparative Advantage Iceland - Greenland

Flow
Scale

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

During 2022, Iceland had a large net trade with Greenland in the exports of Mineral Products ($17.2M), Animal Products ($2.26M), and Chemical Products ($2.22M).

During 2022, Greenland had a large net trade with Iceland in the exports of Animal Products ($17.1M), Foodstuffs ($839k), and Mineral Products ($491k).

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

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

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