Costa Rica (CRI) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Costa Rica-Iceland Trade: In 2022, Costa Rica exported $2.65M to Iceland. The main products that Costa Rica exported to Iceland were Bananas ($666k), Tropical Fruits ($537k), and Melons ($474k). Over the past 5 years the exports of Costa Rica to Iceland have decreased at an annualized rate of 4.89%, from $3.41M in 2017 to $2.65M in 2022.

In 2022, Costa Rica did not export any services to Iceland.

Iceland-Costa Rica Trade: In 2022, Iceland exported $956k to Costa Rica. The main products that Iceland exported to Costa Rica were Other Cloth Articles ($411k), Orthopedic Appliances ($397k), and Beauty Products ($43.2k). Over the past 5 years the exports of Iceland to Costa Rica have decreased at an annualized rate of 18.5%, from $2.65M in 2017 to $956k in 2022.

In 2022, Iceland did not export any services to Costa Rica.

Comparison In 2022, Costa Rica ranked 51 in the Economic Complexity Index (ECI 0.32), and 82 in total exports ($17.2B). That same year, Iceland ranked 116 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 2022, Costa Rica exported $2.65M to Iceland. The main products exported from Costa Rica to Iceland were Bananas ($666k), Tropical Fruits ($537k), and Melons ($474k). During the last 5 years the exports of Costa Rica to Iceland have decreased at an annualized rate of 4.89%, from $3.41M in 2017 to $2.65M in 2022.

In 2017, Iceland exported $956k to Costa Rica. The main products exported from Iceland to Costa Rica were Other Cloth Articles ($411k), Orthopedic Appliances ($397k), and Beauty Products ($43.2k). During the last 5 years the exports of Iceland to Costa Rica have decreased at an annualized rate of 18.5%, from $2.65M in 2022 to $956k in 2017.

Exports from Costa Rica () to Iceland () (2022)

Exports from Iceland () to Costa Rica () (2022)

Latest Data

Trade between Costa Rica () and Iceland ()

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Costa Rica
Top DestinationUnited States$6.83B

Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Costa Rica than Iceland included United States ($6.83B), Guatemala ($821M), and Belgium ($775M).

In 2022, countries that imported more from Iceland than Costa Rica included Netherlands ($1.97B), Norway ($459M), and France ($459M).

Difference in imports from Iceland () and Costa Rica () (2022)

Comparative Advantage Costa Rica - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Costa Rica had a large net trade with Iceland in the exports of Vegetable Products ($2.02M), Instruments ($458k), and Chemical Products ($90.7k).

During 2017, Iceland had a large net trade with Costa Rica in the exports of Instruments ($414k), Textiles ($411k), and Plastics and Rubbers ($50.3k).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Costa Rica () to Iceland () (2022)

Exports from Iceland () to Costa Rica () (2022)

Latest Data

Trade between Costa Rica () and Iceland ()

Iceland Exports

Market Competitiveness

Difference in imports from Iceland () and Costa Rica () (2022)

Comparative Advantage Costa Rica - Iceland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Costa Rica () and Iceland () (2022)

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