Cyprus (CYP) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Cyprus-Iceland In 2022, Cyprus exported $1.61M to Iceland. The main products that Cyprus exported to Iceland are Pure Olive Oil ($974k), Packaged Medicaments ($157k), and Densified Wood ($131k). During the last 27 years the exports of Cyprus to Iceland have increased at an annualized rate of 10.2%, from $117k in 1995 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 In 2022, Iceland exported $2.06M to Cyprus. The main products that Iceland exported to Cyprus were Non-fillet Frozen Fish ($789k), Fish: dried, salted, smoked or in brine ($636k), and Refined Petroleum ($400k). During the last 27 years the exports of Iceland to Cyprus have increased at an annualized rate of 6.19%, from $407k in 1995 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

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 27 years the exports of Cyprus to Iceland have increased at an annualized rate of 10.2%, from $117k in 1995 to $1.61M in 2022.

In 2022, Iceland exported $2.06M to Cyprus. The main products exported from Iceland to Cyprus were Non-fillet Frozen Fish ($789k), Fish: dried, salted, smoked or in brine ($636k), and Refined Petroleum ($400k). During the last 27 years the exports of Iceland to Cyprus have increased at an annualized rate of 6.19%, from $407k in 1995 to $2.06M in 2022.

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

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

Latest Data

Trade between Cyprus () and Iceland ()

Cyprus Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Cyprus
Top DestinationHong Kong$482M

Iceland
Top DestinationNetherlands$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 2021, countries that imported more from Cyprus than Iceland were Hong Kong ($482M), Greece ($471M), and Lebanon ($329M).

In 2021, countries that imported more from Iceland than Cyprus were Netherlands ($1.97B), United States ($613M), and Germany ($573M).

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

Comparative Advantage Cyprus - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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 2022, Iceland had a large net trade with Cyprus in the exports of Animal Products ($1.55M), Mineral Products ($400k), and Instruments ($62.1k).

Service Trade

Bilateral Service Trade

Isl Year

Cyp Year

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 () to Iceland () (2010)

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

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Cyprus has comparative advantage over Iceland. Similarly, the more yellow a dot/product is, the more Iceland has comparative advantage over Cyprus.

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Cyprus () and Iceland ()

Cyprus Exports

Iceland Exports

Market Competitiveness

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

Comparative Advantage Cyprus - Iceland

Service Trade

Bilateral Service Trade

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

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

Economic Complexity

Competitive Landscape

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

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