2023
Flag  
GDP
$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH
94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP
$15.8BCURRENT US$
Rnk 135 / 195
2013-2023
Flag
GDP GROWTH
45.7%CURRENT US$
Rnk 83 / 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
$8,624CURRENT US$
Rnk 92 / 196
2013-2023
Flag
GDP PC GROWTH
53.3%CURRENT US$
Rnk 42 / 195

About

Iceland-North Macedonia Trade: In 2023, Iceland exported $49.4k to North Macedonia. The main products that Iceland exported to North Macedonia were Orthopedic Appliances ($12.6k), Molluscs ($11.2k), and Oscilloscopes ($5.32k). Over the past 5 years the exports of Iceland to North Macedonia have decreased at an annualized rate of 24.6%, from $203k in 2018 to $49.4k in 2023.

In 2023, Iceland did not export any services to North Macedonia.

North Macedonia-Iceland Trade: In 2023, North Macedonia exported $1.33M to Iceland. The main products that North Macedonia exported to Iceland were Plastic Pipes ($510k), Non-Knit Men's Shirts ($154k), and Non-Knit Women's Shirts ($141k). Over the past 5 years the exports of North Macedonia to Iceland have increased at an annualized rate of 10.1%,  from $616k in 2018 to $1.33M in 2023.

In 2023, North Macedonia did not export any services to Iceland.

Comparison In 2023,  Iceland ranked 115 in total exports ($7.31B). That same year, North Macedonia ranked 104 in total exports ($10.1B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $49.4k to North Macedonia. The main products exported from Iceland to North Macedonia were Orthopedic Appliances ($12.6k), Molluscs ($11.2k), and Oscilloscopes ($5.32k). During the last 5 years the exports of Iceland to North Macedonia have decreased at an annualized rate of 24.6%, from $203k in 2018 to $49.4k in 2023.

In 2018, North Macedonia exported $1.33M to Iceland. The main products exported from North Macedonia to Iceland were Plastic Pipes ($510k), Non-Knit Men's Shirts ($154k), and Non-Knit Women's Shirts ($141k). During the last 5 years the exports of North Macedonia to Iceland have increased at an annualized rate of 10.1%, from $616k in 2023 to $1.33M in 2018.

Exports from Iceland (Flag) to North Macedonia (Flag) (2023)

Exports from North Macedonia (Flag) to Iceland (Flag) (2023)

Latest Data

Trade between Iceland (Flag) and North Macedonia (Flag)

Iceland Exports

North Macedonia Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
North Macedonia
Top Destination
Germany$4B

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

In 2023, countries that imported more from Iceland than North Macedonia included Netherlands ($1.97B), United States ($735M), and Norway ($444M).

In 2023, countries that imported more from North Macedonia than Iceland included Germany ($4B), Serbia ($827M), and Bulgaria ($566M).

Difference in imports from North Macedonia (Flag) and Iceland (Flag) (2023)

Comparative Advantage Iceland - North Macedonia

Flow
Scale

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

During 2023, Iceland had a large net trade with North Macedonia in the exports of Instruments ($18.5k), Animal Products ($14.1k), and Textiles ($7.49k).

During 2018, North Macedonia had a large net trade with Iceland in the exports of Textiles ($604k), Plastics and Rubbers ($511k), and Foodstuffs ($120k).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and North Macedonia (Flag) (2023)

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