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2022
Flag → Flag
Exports $4.59kRnk 99 / 123
2022
Flag → Flag
Top Product $1.05kHard Liquor
2022
Flag → Flag
Exports $130kRnk 107 / 160
2022
Flag → Flag
Top Product $62.6kNon-fillet Frozen Fish
2022
Flag  
GDP$6.1BCURRENT US$
Rnk 151 / 186
2012-2022
Flag
GDP GROWTH49.1%CURRENT US$
Rnk 65 / 186
2022
Flag
 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC $9,894CURRENT US$
Rnk 79 / 186
2012-2022
Flag
GDP PC GROWTH50.2%CURRENT US$
Rnk 35 / 186
2022
Flag
GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Montenegro-Iceland Trade: In 2022, Montenegro exported $4.59k to Iceland. The main products that Montenegro exported to Iceland were Hard Liquor ($1.05k), Textile Footwear ($1.05k), and Transmissions ($868). Over the past 5 years the exports of Montenegro to Iceland have decreased at an annualized rate of 38.4%, from $51.7k in 2017 to $4.59k in 2022.

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

Iceland-Montenegro Trade: In 2022, Iceland exported $130k to Montenegro. The main products that Iceland exported to Montenegro were Non-fillet Frozen Fish ($62.6k), Fish Fillets ($47.4k), and Processed Fish ($8.78k). Over the past 5 years the exports of Iceland to Montenegro have decreased at an annualized rate of 16.9%,  from $328k in 2017 to $130k in 2022.

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

Comparison In 2022,  Montenegro ranked 154 in total exports ($1.32B). That same year, Iceland ranked 116 in total exports ($7.31B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Montenegro exported $4.59k to Iceland. The main products exported from Montenegro to Iceland were Hard Liquor ($1.05k), Textile Footwear ($1.05k), and Transmissions ($868). During the last 5 years the exports of Montenegro to Iceland have decreased at an annualized rate of 38.4%, from $51.7k in 2017 to $4.59k in 2022.

In 2017, Iceland exported $130k to Montenegro. The main products exported from Iceland to Montenegro were Non-fillet Frozen Fish ($62.6k), Fish Fillets ($47.4k), and Processed Fish ($8.78k). During the last 5 years the exports of Iceland to Montenegro have decreased at an annualized rate of 16.9%, from $328k in 2022 to $130k in 2017.

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

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

Latest Data

Trade between Montenegro (Flag) and Iceland (Flag)

Montenegro Exports

Date

Iceland Exports

Market Competitiveness

Color
Montenegro
Top DestinationSouth Korea$321M
Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Montenegro than Iceland included South Korea ($321M), Serbia ($159M), and Bosnia and Herzegovina ($95.5M).

In 2022, countries that imported more from Iceland than Montenegro included Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

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

Comparative Advantage Montenegro - Iceland

Flow
Scale

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

During 2022, Montenegro had a large net trade with Iceland in the exports of Foodstuffs ($1.05k), Footwear and Headwear ($1.05k), and Machines ($868).

During 2017, Iceland had a large net trade with Montenegro in the exports of Animal Products ($110k), Foodstuffs ($15.7k), and Machines ($2.52k).

Economic Complexity

Competitive Landscape

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

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

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