Flag Iceland / Jamaica Flag

Exports FlagFlag  (2018): $93.7k, Rnk 114 / 151

Top Product FlagFlag (2018): $93.7k, Refined Petroleum

Exports FlagFlag (2018): $91.1M, Rnk 5 / 98

Top Product FlagFlag (2018): $91.1M, Aluminium Oxide

Economic Complexity of Flag (2018): ECI -0.25, Rnk 79 / 137

GDP Flag (2018): $25.9B, CURRENT US$
Rnk 107 / 196

GDP GROWTH Flag (2008-2018): 44.5%, CURRENT US$
Rnk 89 / 196

GDP Flag (2018): $15.7B, CURRENT US$
Rnk 121 / 196

GDP GROWTH Flag (2008-2018): 14.9%, CURRENT US$
Rnk 135 / 196

GDP PC Flag (2018): $73,191, CURRENT US$
Rnk 7 / 196

GDP PC GROWTH Flag (2008-2018): 29.7%, CURRENT US$
Rnk 82 / 196

GDP PC Flag (2018): $5,354, CURRENT US$
Rnk 107 / 196

GDP PC GROWTH Flag (2008-2018): 8.88%, CURRENT US$
Rnk 126 / 196

Iceland-Jamaica: In 2018, Iceland exported $93.7k to Jamaica. The main products exported from Iceland to Jamaica were Refined Petroleum ($93.7k). During the last 22 years the exports of Iceland to Jamaica have decreased at an annualized rate of 8.54%, from $669k in 1996 to $93.7k in 2018.

Jamaica-Iceland: In 2018, Jamaica exported $91.1M to Iceland. The main products exported from Jamaica to Iceland were Aluminium Oxide ($91.1M) and Hard Liquor ($1.24k). During the last 23 years the exports of Jamaica to Iceland have increased at an annualized rate of 40.7%, from $49.5k in 1995 to $91.1M in 2018.

Comparison: In 2018, Iceland ranked 102 in total exports ($6.67B), and does not have data regarding Economic Complexity Index. That same year, Jamaica ranked 79 in the Economic Complexity Index (ECI -0.25), and 143 in total exports ($1.25B). In terms of GDP Per Capita, Iceland was ranked 7 with a GDP Per Capita of $73,191, and Jamaica was ranked 107 with a GDP Per Capita of $5,354.

Bilateral Trade by Products

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Depth
Value

In 2018, Iceland exported $93.7k to Jamaica. The main products exported from Iceland to Jamaica were Refined Petroleum ($93.7k). During the last 22 years the exports of Iceland to Jamaica have decreased at an annualized rate of 8.54%, from $669k in 1996 to $93.7k in 2018.

In 2018, Jamaica exported $91.1M to Iceland. The main products exported from Jamaica to Iceland were Aluminium Oxide ($91.1M) and Hard Liquor ($1.24k). During the last 23 years the exports of Jamaica to Iceland have increased at an annualized rate of 40.7%, from $49.5k in 1995 to $91.1M in 2018.

Market Competitiveness

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Measure

Iceland
Top Destination
: Netherlands, $1.66B

Jamaica
Top Destination
: United States, $336M

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

In 2018, countries that imported more from Iceland than Jamaica were Netherlands ($1.66B), United Kingdom ($562M), and Germany ($588M).

In 2018, countries that imported more from Jamaica than Iceland were Russia ($105M), Barbados ($12.4M), and Guyana ($9.5M).

Comparative Advantage Iceland - Jamaica

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Depth

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

During 2018, Iceland had a large net trade with Jamaica in the exports of Mineral Products ($93.7k).

During 2018, Jamaica had a large net trade with Iceland in the exports of Chemical Products ($91.1M) and Foodstuffs ($1.24k).

Tariff Section

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This sections shows import tariffs for products traded between Iceland and Jamaica (using the HS6 product classification and the last year reported).

In 2017, the products from Iceland that paid the highest import tariffs to enter Jamaica were Cuttings and slips, not rooted (2.13k%) and Birds' eggs, in shell: fresh, not for incubation, other than fowls of the species Gallus domesticus (domestic hens) (557%).

In 2016, the products from Jamaica that paid the highest import tariffs to enter Iceland were Meat and edible offal: of fowls of the species Gallus domesticus, not cut in pieces, fresh or chilled (100%) and Meat and edible offal: of fowls of the species Gallus domesticus, not cut in pieces, frozen (100%).

Explore Tariff Data

*The tariffs present between Iceland and Jamaica are:
136: Most Favoured Nation duty rate treatement

Trade Forecasts

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This section shows a forecast for total trade between Iceland and Jamaica. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more Iceland has comparative advantage over Jamaica. Similarly, the more red a dot/product is, the more Jamaica has comparative advantage over Iceland.