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2022
Flag → Flag
Exports $24.1kRnk 134 / 160
2022
Flag → Flag
Top Product $22.5kRefined Petroleum
2022
Flag → Flag
Exports $300kRnk 80 / 129
2022
Flag → Flag
Top Product $105kLeather Footwear
2022
Flag
Economic Complexity (ECI) ECI -0.24Rnk 77 / 133
2022
Flag  
GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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 GDP$18.9BCURRENT US$
Rnk 120 / 186
2012-2022
Flag
GDP GROWTH53.3%CURRENT US$
Rnk 55 / 186
2022
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GDP PC $72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186
2022
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GDP PC$6,803CURRENT US$
Rnk 94 / 186
2012-2022
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GDP PC GROWTH60.2%CURRENT US$
Rnk 27 / 186

About

Iceland-Albania Trade: In 2022, Iceland exported $24.1k to Albania. The main products that Iceland exported to Albania were Refined Petroleum ($22.5k), Hand Saws ($1.67k), and Other Edible Preparations ($26). Over the past 7 years the exports of Iceland to Albania have decreased at an annualized rate of 36%, from $551k in 2015 to $24.1k in 2022.

In 2022, Iceland did not export any services to Albania.

Albania-Iceland Trade: In 2022, Albania exported $300k to Iceland. The main products that Albania exported to Iceland were Leather Footwear ($105k), Knit Active Wear ($43k), and Rubber Footwear ($29k). Over the past 7 years the exports of Albania to Iceland have increased at an annualized rate of 16%,  from $143k in 2015 to $300k in 2022.

In 2017, Albania exported services to Iceland worth $226k, with Travel ($226k) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Albania ranked 77 in the Economic Complexity Index (ECI -0.24), and 131 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $24.1k to Albania. The main products exported from Iceland to Albania were Refined Petroleum ($22.5k), Hand Saws ($1.67k), and Other Edible Preparations ($26). During the last 7 years the exports of Iceland to Albania have decreased at an annualized rate of 36%, from $551k in 2015 to $24.1k in 2022.

In 2017, Albania exported $300k to Iceland. The main products exported from Albania to Iceland were Leather Footwear ($105k), Knit Active Wear ($43k), and Rubber Footwear ($29k). During the last 5 years the exports of Albania to Iceland have increased at an annualized rate of 16%, from $143k in 2022 to $300k in 2017.

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

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

Latest Data

Trade between Iceland (Flag) and Albania (Flag)

Iceland Exports

Albania Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Albania
Top DestinationItaly$1.75B

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

In 2022, countries that imported more from Iceland than Albania included Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

In 2022, countries that imported more from Albania than Iceland included Italy ($1.75B), Greece ($421M), and North Macedonia ($101M).

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

Comparative Advantage Iceland - Albania

Flow
Scale

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

During 2022, Iceland had a large net trade with Albania in the exports of Mineral Products ($22.5k), Metals ($1.67k), and Foodstuffs ($26).

During 2017, Albania had a large net trade with Iceland in the exports of Footwear and Headwear ($163k), Textiles ($104k), and Transportation ($10.1k).

Economic Complexity

Competitive Landscape

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

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

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