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2023
Flag → Flag
Exports $234MRnk 30 / 159
2023
Flag → Flag
Top Product $234MRefined Petroleum
2023
Flag → Flag
Exports $569kRnk 90 / 157
2023
Flag → Flag
Top Product $370kWater
2023
Flag
Economic Complexity (ECI) ECI 0.21Rnk 53 / 132
2023
Flag  
GDP$164BCURRENT US$
Rnk 58 / 195
2013-2023
Flag
GDP GROWTH-6.01%CURRENT US$
Rnk 178 / 195
2023
Flag
 GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
GDP PC $33,730CURRENT US$
Rnk 39 / 195
2013-2023
Flag
GDP PC GROWTH-32.1%CURRENT US$
Rnk 187 / 195
2023
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GDP PC$79,637CURRENT US$
Rnk 11 / 196
2013-2023
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GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195

About

Kuwait-Iceland Trade: In 2023, Kuwait exported $234M to Iceland. The main products that Kuwait exported to Iceland were Refined Petroleum ($234M), Ice Cream ($1.67k), and Trunks and Cases ($841). Over the past 5 years the exports of Kuwait to Iceland have increased at an annualized rate of 631%, from $11.2k in 2018 to $234M in 2023.

In 2023, Kuwait did not export any services to Iceland.

Iceland-Kuwait Trade: In 2023, Iceland exported $569k to Kuwait. The main products that Iceland exported to Kuwait were Water ($370k), Orthopedic Appliances ($108k), and Bandages ($17.5k). Over the past 5 years the exports of Iceland to Kuwait have decreased at an annualized rate of 13.9%,  from $1.2M in 2018 to $569k in 2023.

In 2023, Iceland did not export any services to Kuwait.

Comparison In 2023,  Kuwait ranked 53 in the Economic Complexity Index (ECI 0.21),  and 47 in total exports ($71B). That same year, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Kuwait exported $234M to Iceland. The main products exported from Kuwait to Iceland were Refined Petroleum ($234M), Ice Cream ($1.67k), and Trunks and Cases ($841). During the last 5 years the exports of Kuwait to Iceland have increased at an annualized rate of 631%, from $11.2k in 2018 to $234M in 2023.

In 2018, Iceland exported $569k to Kuwait. The main products exported from Iceland to Kuwait were Water ($370k), Orthopedic Appliances ($108k), and Bandages ($17.5k). During the last 5 years the exports of Iceland to Kuwait have decreased at an annualized rate of 13.9%, from $1.2M in 2023 to $569k in 2018.

Exports from Kuwait (Flag) to Iceland (Flag) (2023)

Exports from Iceland (Flag) to Kuwait (Flag) (2023)

Latest Data

Trade between Kuwait (Flag) and Iceland (Flag)

Iceland Exports

Market Competitiveness

Color
Kuwait
Top DestinationChina$17.4B
Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Kuwait than Iceland included China ($17.4B), India ($9.51B), and Japan ($9.13B).

In 2023, countries that imported more from Iceland than Kuwait included Netherlands ($1.97B), Norway ($444M), and Austria ($89.2M).

Difference in imports from Iceland (Flag) and Kuwait (Flag) (2023)

Comparative Advantage Kuwait - Iceland

Flow
Scale

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

During 2023, Kuwait had a large net trade with Iceland in the exports of Mineral Products ($234M), Foodstuffs ($1.67k), and Animal Hides ($1.07k).

During 2018, Iceland had a large net trade with Kuwait in the exports of Foodstuffs ($378k), Instruments ($127k), and Chemical Products ($31.2k).

Economic Complexity

Competitive Landscape

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

Product Space of Kuwait (Flag) and Iceland (Flag) (2023)

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