Switzerland (CHE) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Switzerland-Iceland Trade: In 2023, Switzerland exported $80.2M to Iceland. The main products that Switzerland exported to Iceland were Packaged Medicaments ($16.6M), Coffee ($7.51M), and Flavored Water ($4.27M). Over the past 5 years the exports of Switzerland to Iceland have increased at an annualized rate of 1.67%, from $73.8M in 2018 to $80.2M in 2023.

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

Iceland-Switzerland Trade: In 2023, Iceland exported $73.2M to Switzerland. The main products that Iceland exported to Switzerland were Vaccines, blood, antisera, toxins and cultures ($17.5M), Raw Aluminium ($16.2M), and Fish Fillets ($13.1M). Over the past 5 years the exports of Iceland to Switzerland have increased at an annualized rate of 15.5%, from $35.6M in 2018 to $73.2M in 2023.

In 2019, Iceland exported services to Switzerland worth $98.2M, with Travel ($71.6M), Transportation ($10.2M), and Computer and information services ($7.72M) being the largest in terms of value.

Comparison In 2023, Switzerland ranked 3 in the Economic Complexity Index (ECI 1.96), and 17 in total exports ($398B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Switzerland exported $80.2M to Iceland. The main products exported from Switzerland to Iceland were Packaged Medicaments ($16.6M), Coffee ($7.51M), and Flavored Water ($4.27M). During the last 5 years the exports of Switzerland to Iceland have increased at an annualized rate of 1.67%, from $73.8M in 2018 to $80.2M in 2023.

In 2018, Iceland exported $73.2M to Switzerland. The main products exported from Iceland to Switzerland were Vaccines, blood, antisera, toxins and cultures ($17.5M), Raw Aluminium ($16.2M), and Fish Fillets ($13.1M). During the last 5 years the exports of Iceland to Switzerland have increased at an annualized rate of 15.5%, from $35.6M in 2023 to $73.2M in 2018.

Exports from Switzerland () to Iceland () (2023)

Exports from Iceland () to Switzerland () (2023)

Latest Data

Trade between Switzerland () and Iceland ()

Switzerland Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Switzerland
Top DestinationGermany$53.8B

Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Switzerland than Iceland included Germany ($53.8B), China ($47.7B), and United States ($45.1B).

In 2023, countries that imported more from Iceland than Switzerland included Greenland ($72.3M), Antigua and Barbuda ($9.7M), and Marshall Islands ($3.43M).

Difference in imports from Iceland () and Switzerland () (2023)

Comparative Advantage Switzerland - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Switzerland had a large net trade with Iceland in the exports of Chemical Products ($24.1M), Machines ($13.3M), and Foodstuffs ($11.8M).

During 2018, Iceland had a large net trade with Switzerland in the exports of Animal Products ($22.2M), Metals ($21.7M), and Chemical Products ($19.7M).

Bilateral Service Trade

Isl Year

In 2019, Iceland exported services to Switzerland worth $98.2M, with Travel ($71.6M), Transportation ($10.2M), and Computer and information services ($7.72M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland () to Switzerland () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Switzerland () to Iceland () (2023)

Exports from Iceland () to Switzerland () (2023)

Latest Data

Trade between Switzerland () and Iceland ()

Switzerland Exports

Iceland Exports

Market Competitiveness

Difference in imports from Iceland () and Switzerland () (2023)

Comparative Advantage Switzerland - Iceland

Bilateral Service Trade

Services Exports from Iceland () to Switzerland () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Switzerland () and Iceland () (2023)

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