Flag United States / Iceland Flag

2021
FlagFlag
Exports
: $526M, Rnk 92 / 217

2021
FlagFlag
Top Product
: $138M, Planes, Helicopters, and/or Spacecraft

2021
FlagFlag
Exports
: $492M, Rnk 5 / 162

2021
FlagFlag
Top Product
: $175M, Fish Fillets

2021
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Economic Complexity (ECI)
: ECI 1.46, Rnk 10 / 131

2021
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GDP
: $23T, CURRENT US$
Rnk 1 / 182

2011-2021
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GDP GROWTH
: 47.4%, CURRENT US$
Rnk 56 / 182

2021
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 GDP
: $25.5B, CURRENT US$
Rnk 104 / 182

2011-2021
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GDP GROWTH
: 67.3%, CURRENT US$
Rnk 32 / 182

2021
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GDP PC 
: $69,288, CURRENT US$
Rnk 7 / 182

2011-2021
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GDP PC GROWTH
: 38.4%, CURRENT US$
Rnk 44 / 182

2021
Flag
GDP PC
: $68,384, CURRENT US$
Rnk 8 / 182

2011-2021
Flag
GDP PC GROWTH
: 43.3%, CURRENT US$
Rnk 38 / 182

United States-Iceland In 2021, United States exported $526M to Iceland. The main products that United States exported to Iceland are Planes, Helicopters, and/or Spacecraft ($138M), Cars ($46.5M), and Laboratory Reagents ($32.9M). During the last 26 years the exports of United States to Iceland have increased at an annualized rate of 4.56%, from $165M in 1995 to $526M in 2021.

In 2021, United States did not export any services to Iceland.

Iceland-United States In 2021, Iceland exported $492M to United States. The main products that Iceland exported to United States were Fish Fillets ($175M), Non-fillet Fresh Fish ($67.5M), and Orthopedic Appliances ($42.4M). During the last 26 years the exports of Iceland to United States have increased at an annualized rate of 2.93%, from $232M in 1995 to $492M in 2021.

In 2019, Iceland exported services to United States worth $1.68B, with Travel ($801M), Transportation ($535M), and Other business services ($185M) being the largest in terms of value.

Comparison In 2021,  United States ranked 10 in the Economic Complexity Index (ECI 1.46),  and 2 in total exports ($1.63T). That same year, Iceland ranked 113 in total exports ($6.76B), and does not have data regarding Economic Complexity Index.

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, United States exported $526M to Iceland. The main products exported from United States to Iceland were Planes, Helicopters, and/or Spacecraft ($138M), Cars ($46.5M), and Laboratory Reagents ($32.9M). During the last 26 years the exports of United States to Iceland have increased at an annualized rate of 4.56%, from $165M in 1995 to $526M in 2021.

In 2021, Iceland exported $492M to United States. The main products exported from Iceland to United States were Fish Fillets ($175M), Non-fillet Fresh Fish ($67.5M), and Orthopedic Appliances ($42.4M). During the last 26 years the exports of Iceland to United States have increased at an annualized rate of 2.93%, from $232M in 1995 to $492M in 2021.

Market Competitiveness

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Color

United States
Top Destination
: Canada, $259B

Iceland
Top Destination
: Netherlands, $1.65B

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

In 2021, countries that imported more from United States than Iceland were Canada ($259B), Mexico ($247B), and China ($151B).

In 2021, countries that imported more from Iceland than United States were Greenland ($18.1M), Wallis and Futuna ($411k), and Tokelau ($232k).

Comparative Advantage United States - Iceland

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Flow
Scale

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

During 2021, United States had a large net trade with Iceland in the exports of Transportation ($206M), Machines ($112M), and Chemical Products ($55.3M).

During 2021, Iceland had a large net trade with United States in the exports of Animal Products ($279M), Instruments ($68.1M), and Foodstuffs ($46.4M).

Bilateral Service Trade

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In 2019, Iceland exported services to United States worth $1.68B, with Travel ($801M), Transportation ($535M), and Other business services ($185M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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