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Pricing

2022
Flag → Flag
Exports $84.6kRnk 114 / 160
2022
Flag → Flag
Top Product $58.6kLiquid Pumps
2022
Flag → Flag
Exports $20.6kRnk 102 / 126
2022
Flag → Flag
Top Product $17kHard Liquor
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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GDP PC $72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Iceland-Venezuela Trade: In 2022, Iceland exported $84.6k to Venezuela. The main products that Iceland exported to Venezuela were Liquid Pumps ($58.6k), Fish Oil ($25.1k), and Broadcasting Equipment ($857). Over the past 5 years the exports of Iceland to Venezuela have increased at an annualized rate of 6.94%, from $60.5k in 2017 to $84.6k in 2022.

In 2019, Iceland exported services to Venezuela worth $560k, with Travel ($560k) being the largest in terms of value.

Venezuela-Iceland Trade: In 2022, Venezuela exported $20.6k to Iceland. The main products that Venezuela exported to Iceland were Hard Liquor ($17k), Engine Parts ($1.92k), and Leather of Other Animals ($366). Over the past 5 years the exports of Venezuela to Iceland have increased at an annualized rate of 0.32%,  from $20.3k in 2017 to $20.6k in 2022.

In 2022, Venezuela 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, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $84.6k to Venezuela. The main products exported from Iceland to Venezuela were Liquid Pumps ($58.6k), Fish Oil ($25.1k), and Broadcasting Equipment ($857). During the last 5 years the exports of Iceland to Venezuela have increased at an annualized rate of 6.94%, from $60.5k in 2017 to $84.6k in 2022.

In 2017, Venezuela exported $20.6k to Iceland. The main products exported from Venezuela to Iceland were Hard Liquor ($17k), Engine Parts ($1.92k), and Leather of Other Animals ($366). During the last 5 years the exports of Venezuela to Iceland have increased at an annualized rate of 0.32%, from $20.3k in 2022 to $20.6k in 2017.

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

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

Latest Data

Trade between Iceland (Flag) and Venezuela (Flag)

Iceland Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Iceland than Venezuela included Netherlands ($1.97B), United Kingdom ($672M), and Germany ($573M).

In 2022, countries that imported more from Venezuela than Iceland included Turkey ($597M), China ($703M), and Brazil ($361M).

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

Comparative Advantage Iceland - Venezuela

Flow
Scale

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

During 2022, Iceland had a large net trade with Venezuela in the exports of Machines ($59.5k), Animal and Vegetable Bi-Products ($25.1k), and Plastics and Rubbers ($19).

During 2017, Venezuela had a large net trade with Iceland in the exports of Foodstuffs ($17k), Machines ($2.39k), and Vegetable Products ($474).

Economic Complexity

Competitive Landscape

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

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

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