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GDP
$27.8BCURRENT US$
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88.7%CURRENT US$
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$247BCURRENT US$
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40.3%CURRENT US$
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$72,903CURRENT US$
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58.5%CURRENT US$
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About

Iceland-New Zealand Trade: In 2022, Iceland exported $3.71M to New Zealand. The main products that Iceland exported to New Zealand were Industrial Food Preperation Machinery ($1.03M), Excavation Machinery ($451k), and Compasses ($360k). Over the past 5 years the exports of Iceland to New Zealand have increased at an annualized rate of 17.2%, from $1.68M in 2017 to $3.71M in 2022.

In 2019, Iceland exported services to New Zealand worth $7.84M, with Travel ($3.81M), Other business services ($1.79M), and Computer and information services ($1.57M) being the largest in terms of value.

New Zealand-Iceland Trade: In 2022, New Zealand exported $4.33M to Iceland. The main products that New Zealand exported to Iceland were Frozen Bovine Meat ($1.12M), Wool ($519k), and Other Fruits ($370k). Over the past 5 years the exports of New Zealand to Iceland have increased at an annualized rate of 0.37%,  from $4.25M in 2017 to $4.33M in 2022.

In 2022, New Zealand did not export any services to Iceland.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, New Zealand ranked 45 in the Economic Complexity Index (ECI 0.46), and 64 in total exports ($46.5B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $3.71M to New Zealand. The main products exported from Iceland to New Zealand were Industrial Food Preperation Machinery ($1.03M), Excavation Machinery ($451k), and Compasses ($360k). During the last 5 years the exports of Iceland to New Zealand have increased at an annualized rate of 17.2%, from $1.68M in 2017 to $3.71M in 2022.

In 2017, New Zealand exported $4.33M to Iceland. The main products exported from New Zealand to Iceland were Frozen Bovine Meat ($1.12M), Wool ($519k), and Other Fruits ($370k). During the last 5 years the exports of New Zealand to Iceland have increased at an annualized rate of 0.37%, from $4.25M in 2022 to $4.33M in 2017.

Exports from Iceland (Flag) to New Zealand (Flag) (2022)

Exports from New Zealand (Flag) to Iceland (Flag) (2022)

Latest Data

Trade between Iceland (Flag) and New Zealand (Flag)

Iceland Exports

New Zealand Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
New Zealand
Top Destination
China$13.1B

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

In 2022, countries that imported more from Iceland than New Zealand included Netherlands ($1.97B), Norway ($459M), and Poland ($367M).

In 2022, countries that imported more from New Zealand than Iceland included China ($13.1B), Australia ($5.35B), and United States ($5.07B).

Difference in imports from New Zealand (Flag) and Iceland (Flag) (2022)

Comparative Advantage Iceland - New Zealand

Flow
Scale

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

During 2022, Iceland had a large net trade with New Zealand in the exports of Machines ($1.97M), Instruments ($775k), and Plastics and Rubbers ($252k).

During 2017, New Zealand had a large net trade with Iceland in the exports of Animal Products ($1.27M), Machines ($839k), and Vegetable Products ($602k).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and New Zealand (Flag) (2022)

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