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2022
Flag → Flag
Exports $115MRnk 113 / 211
2022
Flag → Flag
Top Product $74.6MCars
2022
Flag → Flag
Exports $174MRnk 10 / 160
2022
Flag → Flag
Top Product $86.5MFerroalloys
2022
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Economic Complexity (ECI) ECI 2.07Rnk 1 / 133
2022
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GDP$4.23TCURRENT US$
Rnk 3 / 186
2012-2022
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GDP GROWTH-32.5%CURRENT US$
Rnk 182 / 186
2022
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 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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GDP PC $33,815CURRENT US$
Rnk 32 / 186
2012-2022
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GDP PC GROWTH-31.2%CURRENT US$
Rnk 178 / 186
2022
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GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Japan-Iceland Trade: In 2022, Japan exported $115M to Iceland. The main products that Japan exported to Iceland were Cars ($74.6M), Carbon-based Electronics ($8.71M), and Delivery Trucks ($2.13M). Over the past 5 years the exports of Japan to Iceland have decreased at an annualized rate of 3.18%, from $135M in 2017 to $115M in 2022.

In 2022, Japan did not export any services to Iceland.

Iceland-Japan Trade: In 2022, Iceland exported $174M to Japan. The main products that Iceland exported to Japan were Ferroalloys ($86.5M), Non-fillet Frozen Fish ($47.5M), and Other Meat ($20.5M). Over the past 5 years the exports of Iceland to Japan have increased at an annualized rate of 9.02%,  from $113M in 2017 to $174M in 2022.

In 2019, Iceland exported services to Japan worth $78.1M, with Computer and information services ($42.4M), Travel ($18.7M), and Transportation ($9.85M) being the largest in terms of value.

Comparison In 2022,  Japan ranked 1 in the Economic Complexity Index (ECI 2.07),  and 4 in total exports ($728B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

July, 2024

About

Overview In July 2024, Japan exported ¥539M and imported ¥2.35B from Iceland, resulting in a negative trade balance of ¥1.81B. Between July 2023 and July 2024 the exports of Japan have decreased by ¥-1.22B (-69.3%) from ¥1.76B to ¥539M, while imports increased by ¥191M (8.87%) from ¥2.16B to ¥2.35B.

Trade In July 2024, the top exports of Japan to Iceland were Cars (¥889M), Delivery Trucks (¥205M), Rubber Tires (¥38.1M), Orthopedic Appliances (¥35.7M), and Combustion Engines (¥20.6M). In July 2024 the top imports of Japan from Iceland were Ferroalloys (¥1.23B), Non-fillet Frozen Fish (¥547M), Fish Fillets (¥495M), Sheep and Goat Meat (¥107M), and Orthopedic Appliances (¥46.1M).

Origins In July 2024 the exports of Japan were mainly from Aichi (¥406M), Shizuoka (¥37M), Tokyo (¥30.1M), Kanagawa (¥27.3M), and Osaka (¥18.1M), while imports destinations were mainly Tokyo (¥792M), Hyōgo (¥761M), Okayama (¥245M), Fukuoka (¥200M), and Osaka (¥146M).

Growth In July 2024, the decrease in Japan's year-by-year exports to Iceland was explained primarily by an decrease in product exports in Commodities not elsewhere specified (¥-11.9M or -65%), Video and Card Games (¥-628k or -75.3%), and Oscilloscopes (¥-324k or -57.1%). In July 2024, the increase in Japan's year-by-year imports  from Iceland was explained primarily by an increase in product imports  in Ferroalloys (¥693M or 130%), Fish Fillets (¥275M or 125%), and Non-fillet Frozen Fish (¥149M or 37.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)¥-1.22B(-69.3%)
IMPORT GROWTH (July 2023 - July 2024)¥191M(8.87%)
MAIN EXPORTER (July 2024)Aichi¥406M

This section shows exports and imports data at subnational level for Japan. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Japan over time.

To check Iceland and Japan trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Japan exported $115M to Iceland. The main products exported from Japan to Iceland were Cars ($74.6M), Carbon-based Electronics ($8.71M), and Delivery Trucks ($2.13M). During the last 5 years the exports of Japan to Iceland have decreased at an annualized rate of 3.18%, from $135M in 2017 to $115M in 2022.

In 2017, Iceland exported $174M to Japan. The main products exported from Iceland to Japan were Ferroalloys ($86.5M), Non-fillet Frozen Fish ($47.5M), and Other Meat ($20.5M). During the last 5 years the exports of Iceland to Japan have increased at an annualized rate of 9.02%, from $113M in 2022 to $174M in 2017.

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

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

Market Competitiveness

Color
Japan
Top DestinationUnited States$137B
Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Japan than Iceland included United States ($137B), China ($135B), and South Korea ($50.8B).

In 2022, countries that imported more from Iceland than Japan included Greenland ($28.2M) and Wallis and Futuna ($3.54M).

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

Comparative Advantage Japan - Iceland

Flow
Scale

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

During 2022, Japan had a large net trade with Iceland in the exports of Transportation ($79.7M), Machines ($19.6M), and Instruments ($3.66M).

During 2017, Iceland had a large net trade with Japan in the exports of Metals ($87.3M), Animal Products ($77.7M), and Instruments ($5.07M).

Bilateral Service Trade

In 2019, Iceland exported services to Japan worth $78.1M, with Computer and information services ($42.4M), Travel ($18.7M), and Transportation ($9.85M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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