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2022
Flag → Flag
Exports $8kRnk 113 / 139
2022
Flag → Flag
Top Product $6.73kHard Liquor
2022
Flag → Flag
Exports $1.38MRnk 65 / 160
2022
Flag → Flag
Top Product $1.3MRefined Petroleum
2022
Flag  
GDP$5.64BCURRENT US$
Rnk 152 / 186
2012-2022
Flag
GDP GROWTH22.3%CURRENT US$
Rnk 116 / 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 $20,019CURRENT US$
Rnk 52 / 186
2012-2022
Flag
GDP PC GROWTH19.9%CURRENT US$
Rnk 89 / 186
2022
Flag
GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Barbados-Iceland Trade: In 2022, Barbados exported $8k to Iceland. The main products that Barbados exported to Iceland were Hard Liquor ($6.73k), Paper Labels ($1.17k), and Knit Sweaters ($92). Over the past 5 years the exports of Barbados to Iceland have increased at an annualized rate of 8.83%, from $5.24k in 2017 to $8k in 2022.

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

Iceland-Barbados Trade: In 2022, Iceland exported $1.38M to Barbados. The main products that Iceland exported to Barbados were Refined Petroleum ($1.3M), Fish Oil ($60.7k), and Antiknock ($19k). Over the past 5 years the exports of Iceland to Barbados have increased at an annualized rate of 39%,  from $267k in 2017 to $1.38M in 2022.

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

Comparison In 2022,  Barbados ranked 176 in total exports ($393M). 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, Barbados exported $8k to Iceland. The main products exported from Barbados to Iceland were Hard Liquor ($6.73k), Paper Labels ($1.17k), and Knit Sweaters ($92). During the last 5 years the exports of Barbados to Iceland have increased at an annualized rate of 8.83%, from $5.24k in 2017 to $8k in 2022.

In 2017, Iceland exported $1.38M to Barbados. The main products exported from Iceland to Barbados were Refined Petroleum ($1.3M), Fish Oil ($60.7k), and Antiknock ($19k). During the last 5 years the exports of Iceland to Barbados have increased at an annualized rate of 39%, from $267k in 2022 to $1.38M in 2017.

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

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

Latest Data

Trade between Barbados (Flag) and Iceland (Flag)

Barbados Exports

Iceland Exports

Market Competitiveness

Color
Barbados
Top DestinationUnited States$88.6M
Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Barbados than Iceland included Jamaica ($43.3M), Trinidad and Tobago ($33.8M), and Guyana ($29.7M).

In 2022, countries that imported more from Iceland than Barbados included Netherlands ($1.97B), United Kingdom ($672M), and Germany ($573M).

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

Comparative Advantage Barbados - Iceland

Flow
Scale

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

During 2022, Barbados had a large net trade with Iceland in the exports of Foodstuffs ($6.73k), Paper Goods ($1.17k), and Textiles ($92).

During 2017, Iceland had a large net trade with Barbados in the exports of Mineral Products ($1.3M), Animal and Vegetable Bi-Products ($60.7k), and Chemical Products ($19k).

Economic Complexity

Competitive Landscape

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

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

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