2022
Flag  
GDP
$28.4BCURRENT US$
Rnk 105 / 186
2012-2022
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GDP GROWTH
13.5%CURRENT US$
Rnk 138 / 186
2022
Flag
 GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH
88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC 
$31,284CURRENT US$
Rnk 36 / 186
2012-2022
Flag
GDP PC GROWTH
7.9%CURRENT US$
Rnk 123 / 186
2022
Flag
GDP PC
$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH
58.5%CURRENT US$
Rnk 29 / 186

About

Cyprus-Iceland Trade: In 2022, Cyprus exported $1.61M to Iceland. The main products that Cyprus exported to Iceland were Pure Olive Oil ($974k), Packaged Medicaments ($157k), and Densified Wood ($131k). Over the past 5 years the exports of Cyprus to Iceland have increased at an annualized rate of 34.3%, from $368k in 2017 to $1.61M in 2022.

In 2010, Cyprus exported services to Iceland worth $2.65M, with Financial services ($2.65M) being the largest in terms of value.

Iceland-Cyprus Trade: In 2022, Iceland exported $2.06M to Cyprus. The main products that Iceland exported to Cyprus were Non-fillet Frozen Fish ($789k), Dried/Salted/Smoked/Brined Fish ($636k), and Refined Petroleum ($400k). Over the past 5 years the exports of Iceland to Cyprus have increased at an annualized rate of 4.24%,  from $1.67M in 2017 to $2.06M in 2022.

In 2019, Iceland exported services to Cyprus worth $1.34M, with Travel ($896k) and Transportation ($448k) being the largest in terms of value.

Comparison In 2022,  Cyprus ranked 125 in total exports ($4.91B). 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, Cyprus exported $1.61M to Iceland. The main products exported from Cyprus to Iceland were Pure Olive Oil ($974k), Packaged Medicaments ($157k), and Densified Wood ($131k). During the last 5 years the exports of Cyprus to Iceland have increased at an annualized rate of 34.3%, from $368k in 2017 to $1.61M in 2022.

In 2017, Iceland exported $2.06M to Cyprus. The main products exported from Iceland to Cyprus were Non-fillet Frozen Fish ($789k), Dried/Salted/Smoked/Brined Fish ($636k), and Refined Petroleum ($400k). During the last 5 years the exports of Iceland to Cyprus have increased at an annualized rate of 4.24%, from $1.67M in 2022 to $2.06M in 2017.

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

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

Latest Data

Trade between Cyprus (Flag) and Iceland (Flag)

Cyprus Exports

Iceland Exports

Market Competitiveness

Color
Cyprus
Top Destination
Hong Kong$482M
Iceland
Top Destination
Netherlands$1.97B

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

In 2022, countries that imported more from Cyprus than Iceland included Hong Kong ($482M), Greece ($471M), and Lebanon ($329M).

In 2022, countries that imported more from Iceland than Cyprus included Netherlands ($1.97B), United States ($613M), and Germany ($573M).

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

Comparative Advantage Cyprus - Iceland

Flow
Scale

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

During 2022, Cyprus had a large net trade with Iceland in the exports of Animal and Vegetable Bi-Products ($975k), Chemical Products ($157k), and Wood Products ($131k).

During 2017, Iceland had a large net trade with Cyprus in the exports of Animal Products ($1.55M), Mineral Products ($400k), and Instruments ($62.1k).

Bilateral Service Trade

In 2010, Cyprus exported services to Iceland worth $2.65M, with Financial services ($2.65M) being the largest in terms of value.

In 2019, Iceland exported services to Cyprus worth $1.34M, with Travel ($896k) and Transportation ($448k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Cyprus (Flag) to Iceland (Flag) (2010)

Services Exports from Iceland (Flag) to Cyprus (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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