2022
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GDP
$529BCURRENT US$
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GDP GROWTH
135%CURRENT US$
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 GDP
$27.8BCURRENT US$
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GDP GROWTH
88.7%CURRENT US$
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GDP PC 
$104,039CURRENT US$
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GDP PC GROWTH
112%CURRENT US$
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GDP PC
$72,903CURRENT US$
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GDP PC GROWTH
58.5%CURRENT US$
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About

Ireland-Iceland In 2022, Ireland exported $160M to Iceland. The main products that Ireland exported to Iceland are Planes, Helicopters, and/or Spacecraft ($90.6M), Aluminium Oxide ($30.3M), and Other Edible Preparations ($4.16M). During the last 27 years the exports of Ireland to Iceland have increased at an annualized rate of 7.68%, from $21.6M in 1995 to $160M in 2022.

In 2020, Ireland exported services to Iceland worth $42.3M, with Other business services ($21.7M), Financial services ($19.4M), and Insurance services ($1.14M) being the largest in terms of value.

Iceland-Ireland In 2022, Iceland exported $41M to Ireland. The main products that Iceland exported to Ireland were Other Processed Fruits and Nuts ($11.7M), Gravel and Crushed Stone ($10.5M), and Planes, Helicopters, and/or Spacecraft ($7.45M). During the last 27 years the exports of Iceland to Ireland have increased at an annualized rate of 9.4%, from $3.62M in 1995 to $41M in 2022.

In 2019, Iceland exported services to Ireland worth $34.5M, with Travel ($17.6M), Transportation ($6.83M), and Computer and information services ($6.27M) being the largest in terms of value.

Comparison In 2022,  Ireland ranked 16 in the Economic Complexity Index (ECI 1.28),  and 31 in total exports ($236B). 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
Value

In 2022, Ireland exported $160M to Iceland. The main products exported from Ireland to Iceland were Planes, Helicopters, and/or Spacecraft ($90.6M), Aluminium Oxide ($30.3M), and Other Edible Preparations ($4.16M). During the last 27 years the exports of Ireland to Iceland have increased at an annualized rate of 7.68%, from $21.6M in 1995 to $160M in 2022.

In 2022, Iceland exported $41M to Ireland. The main products exported from Iceland to Ireland were Other Processed Fruits and Nuts ($11.7M), Gravel and Crushed Stone ($10.5M), and Planes, Helicopters, and/or Spacecraft ($7.45M). During the last 27 years the exports of Iceland to Ireland have increased at an annualized rate of 9.4%, from $3.62M in 1995 to $41M in 2022.

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

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

Market Competitiveness

Color
Ireland
Top Destination
United States$70.7B
Iceland
Top Destination
Netherlands$1.97B

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

In 2021, countries that imported more from Ireland than Iceland were United States ($70.7B), Germany ($28.6B), and United Kingdom ($19B).

In 2021, countries that imported more from Iceland than Ireland were Greenland ($28.2M), Bahamas ($20.1M), and Antigua and Barbuda ($8.12M).

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

Comparative Advantage Ireland - Iceland

Flow
Scale

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

During 2022, Ireland had a large net trade with Iceland in the exports of Transportation ($90.9M), Chemical Products ($36.1M), and Mineral Products ($9.11M).

During 2022, Iceland had a large net trade with Ireland in the exports of Foodstuffs ($12.4M), Mineral Products ($11.4M), and Transportation ($7.46M).

Service Trade

Bilateral Service Trade

In 2020, Ireland exported services to Iceland worth $42.3M, with Other business services ($21.7M), Financial services ($19.4M), and Insurance services ($1.14M) being the largest in terms of value.

In 2019, Iceland exported services to Ireland worth $34.5M, with Travel ($17.6M), Transportation ($6.83M), and Computer and information services ($6.27M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Ireland (Flag) to Iceland (Flag) (2020)

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

Economic Complexity

Competitive Landscape

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 Ireland has comparative advantage over Iceland. Similarly, the more yellow a dot/product is, the more Iceland has comparative advantage over Ireland.

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

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