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2023
Flag → Flag
Exports $1.74kRnk 153 / 157
2023
Flag → Flag
Top Product $559Surveying Equipment
2023
Flag → Flag
Exports $302kRnk 82 / 126
2023
Flag → Flag
Top Product $83.7kLeather Footwear
2023
Flag
Economic Complexity (ECI) ECI -0.33Rnk 77 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$23.5BCURRENT US$
Rnk 115 / 195
2013-2023
Flag
GDP GROWTH84.3%CURRENT US$
Rnk 29 / 195
2023
Flag
GDP PC $79,637CURRENT US$
Rnk 11 / 195
2013-2023
Flag
GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195
2023
Flag
GDP PC$8,575CURRENT US$
Rnk 93 / 196
2013-2023
Flag
GDP PC GROWTH94.3%CURRENT US$
Rnk 10 / 195

About

Iceland-Albania Trade: In 2023, Iceland exported $1.74k to Albania. The main products that Iceland exported to Albania were Surveying Equipment ($559), Margarine ($470), and Knit Sweaters ($377). Over the past 6 years the exports of Iceland to Albania have decreased at an annualized rate of 39.9%, from $37k in 2017 to $1.74k in 2023.

In 2023, Iceland did not export any services to Albania.

Albania-Iceland Trade: In 2023, Albania exported $302k to Iceland. The main products that Albania exported to Iceland were Leather Footwear ($83.7k), Textile Footwear ($74.9k), and Rubber Footwear ($49.4k). Over the past 6 years the exports of Albania to Iceland have increased at an annualized rate of 11%,  from $179k in 2017 to $302k in 2023.

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

Comparison In 2023,  Iceland ranked 115 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 -0.33), and 134 in total exports ($4.25B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $1.74k to Albania. The main products exported from Iceland to Albania were Surveying Equipment ($559), Margarine ($470), and Knit Sweaters ($377). During the last 6 years the exports of Iceland to Albania have decreased at an annualized rate of 39.9%, from $37k in 2017 to $1.74k in 2023.

In 2018, Albania exported $302k to Iceland. The main products exported from Albania to Iceland were Leather Footwear ($83.7k), Textile Footwear ($74.9k), and Rubber Footwear ($49.4k). During the last 5 years the exports of Albania to Iceland have increased at an annualized rate of 11%, from $179k in 2023 to $302k in 2018.

Exports from Iceland (Flag) to Albania (Flag) (2023)

Exports from Albania (Flag) to Iceland (Flag) (2023)

Latest Data

Trade between Iceland (Flag) and Albania (Flag)

Iceland Exports

Albania Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Albania
Top DestinationItaly$1.72B

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 2023, countries that imported more from Iceland than Albania included Netherlands ($1.97B), United States ($735M), and United Kingdom ($607M).

In 2023, countries that imported more from Albania than Iceland included Italy ($1.72B), Greece ($409M), and Serbia ($188M).

Difference in imports from Albania (Flag) and Iceland (Flag) (2023)

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 2023, Iceland had a large net trade with Albania in the exports of Instruments ($559), Animal and Vegetable Bi-Products ($470), and Textiles ($377).

During 2018, Albania had a large net trade with Iceland in the exports of Footwear and Headwear ($209k), Textiles ($69.1k), and Transportation ($11.7k).

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) (2023)

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