2022
Flag  
GDP
$25.5TCURRENT US$
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2012-2022
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GDP GROWTH
56.7%CURRENT US$
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2022
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 GDP
$27.8BCURRENT US$
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2012-2022
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GDP GROWTH
88.7%CURRENT US$
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2022
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GDP PC 
$76,399CURRENT US$
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2012-2022
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GDP PC GROWTH
47.5%CURRENT US$
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2022
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GDP PC
$72,903CURRENT US$
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2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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About

United States-Iceland Trade: In 2022, United States exported $363M to Iceland. The main products that United States exported to Iceland were Cars ($55.6M), Planes, Helicopters, and/or Spacecraft ($47.7M), and Refined Petroleum ($43.6M). Over the past 5 years the exports of United States to Iceland have increased at an annualized rate of 16.8%, from $167M in 2017 to $363M in 2022.

In 2022, United States did not export any services to Iceland.

Iceland-United States Trade: In 2022, Iceland exported $375M to United States. The main products that Iceland exported to United States were Fish Fillets ($242M), Non-fillet Fresh Fish ($73.4M), and Orthopedic Appliances ($60.8M). Over the past 5 years the exports of Iceland to United States have increased at an annualized rate of 9.96%,  from $234M in 2017 to $375M in 2022.

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 2022,  United States ranked 10 in the Economic Complexity Index (ECI 1.47),  and 2 in total exports ($1.95T). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Company data: In 2023, leading companies such as Wismettac Asian Foods (12) and Barry Callebaut (3) were at the forefront of exporting goods from Iceland to the United States. Conversely, Vignir G Jonsson Ehf (12) and Other (3) were notable for importing products to Iceland from the United States.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United States exported $363M to Iceland. The main products exported from United States to Iceland were Cars ($55.6M), Planes, Helicopters, and/or Spacecraft ($47.7M), and Refined Petroleum ($43.6M). During the last 5 years the exports of United States to Iceland have increased at an annualized rate of 16.8%, from $167M in 2017 to $363M in 2022.

In 2017, Iceland exported $375M to United States. The main products exported from Iceland to United States were Fish Fillets ($242M), Non-fillet Fresh Fish ($73.4M), and Orthopedic Appliances ($60.8M). During the last 22 years the exports of Iceland to United States have increased at an annualized rate of 9.96%, from $234M in 1995 to $375M in 2017.

Exports from United States (Flag) to Iceland (Flag) (2022)

Exports from Iceland (Flag) to United States (Flag) (2022)

Market Competitiveness

Color
United States
Top Destination
Canada$308B
Iceland
Top Destination
Netherlands$1.97B

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 2022, countries that imported more from United States than Iceland included Canada ($308B), Mexico ($294B), and China ($151B).

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

Difference in imports from Iceland (Flag) and United States (Flag) (2022)

Comparative Advantage United States - Iceland

Flow
Scale

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

During 2022, United States had a large net trade with Iceland in the exports of Transportation ($131M), Machines ($73.7M), and Mineral Products ($45.3M).

During 2017, Iceland had a large net trade with United States in the exports of Animal Products ($346M), Instruments ($84.3M), and Foodstuffs ($41.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United States Iceland+N/AN/A
Top Product Potential Iceland United States+N/AN/A

N/A

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Bilateral Service Trade

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.

Services Exports from Iceland (Flag) to United States (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of United States (Flag) and Iceland (Flag) (2022)

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