2022
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GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH
88.7%CURRENT US$
Rnk 20 / 186
2022
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 GDP
$586BCURRENT US$
Rnk 23 / 186
2012-2022
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GDP GROWTH
6.06%CURRENT US$
Rnk 151 / 186
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$
Rnk 29 / 186
2022
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GDP PC
$55,873CURRENT US$
Rnk 13 / 186
2012-2022
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GDP PC GROWTH
-3.73%CURRENT US$
Rnk 149 / 186

About

Iceland-Sweden In 2022, Iceland exported $50M to Sweden. The main products that Iceland exported to Sweden are Raw Aluminium ($9.98M), Fish Fillets ($8.93M), and Fish: dried, salted, smoked or in brine ($6.22M). During the last 27 years the exports of Iceland to Sweden have increased at an annualized rate of 2%, from $29.2M in 1995 to $50M in 2022.

In 2019, Iceland exported services to Sweden worth $122M, with Transportation ($48.5M), Travel ($45.6M), and Computer and information services ($12.1M) being the largest in terms of value.

Sweden-Iceland In 2022, Sweden exported $469M to Iceland. The main products that Sweden exported to Iceland were Cars ($24.1M), Packaged Medicaments ($19.2M), and Video Displays ($17.6M). During the last 27 years the exports of Sweden to Iceland have increased at an annualized rate of 4.78%, from $133M in 1995 to $469M in 2022.

In 2020, Sweden exported services to Iceland worth $85.9M, with Personal, cultural, and recreational services ($21.2M), Other business services ($20.2M), and Transportation ($14.8M) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Sweden ranked 7 in the Economic Complexity Index (ECI 1.5), and 33 in total exports ($194B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $50M to Sweden. The main products exported from Iceland to Sweden were Raw Aluminium ($9.98M), Fish Fillets ($8.93M), and Fish: dried, salted, smoked or in brine ($6.22M). During the last 27 years the exports of Iceland to Sweden have increased at an annualized rate of 2%, from $29.2M in 1995 to $50M in 2022.

In 2022, Sweden exported $469M to Iceland. The main products exported from Sweden to Iceland were Cars ($24.1M), Packaged Medicaments ($19.2M), and Video Displays ($17.6M). During the last 27 years the exports of Sweden to Iceland have increased at an annualized rate of 4.78%, from $133M in 1995 to $469M in 2022.

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

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

Latest Data

Trade between Iceland (Flag) and Sweden (Flag)

Iceland Exports

Sweden Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Sweden
Top Destination
Germany$19.2B

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

In 2021, countries that imported more from Iceland than Sweden were Bahamas ($20.1M), Antigua and Barbuda ($8.12M), and Wallis and Futuna ($3.54M).

In 2021, countries that imported more from Sweden than Iceland were Germany ($19.2B), Norway ($18.7B), and United States ($17.8B).

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

Comparative Advantage Iceland - Sweden

Flow
Scale

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

During 2022, Iceland had a large net trade with Sweden in the exports of Animal Products ($22.4M), Metals ($11.7M), and Animal and Vegetable Bi-Products ($3.42M).

During 2022, Sweden had a large net trade with Iceland in the exports of Machines ($124M), Chemical Products ($61.1M), and Transportation ($44.9M).

Service Trade

Bilateral Service Trade

In 2019, Iceland exported services to Sweden worth $122M, with Transportation ($48.5M), Travel ($45.6M), and Computer and information services ($12.1M) being the largest in terms of value.

In 2020, Sweden exported services to Iceland worth $85.9M, with Personal, cultural, and recreational services ($21.2M), Other business services ($20.2M), and Transportation ($14.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to Sweden (Flag) (2019)

Services Exports from Sweden (Flag) to Iceland (Flag) (2020)

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

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

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