NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $1.4MRnk 74 / 157
2023
Flag → Flag
Top Product $1.32MOrthopedic Appliances
2023
Flag → Flag
Exports $4.54kRnk 120 / 133
2023
Flag → Flag
Top Product $984Wine
2023
Flag
Economic Complexity (ECI) ECI 0.094Rnk 57 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$24.1BCURRENT US$
Rnk 114 / 195
2013-2023
Flag
GDP GROWTH117%CURRENT US$
Rnk 9 / 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$8,053CURRENT US$
Rnk 96 / 196
2013-2023
Flag
GDP PC GROWTH119%CURRENT US$
Rnk 4 / 195

About

Iceland-Armenia Trade: In 2023, Iceland exported $1.4M to Armenia. The main products that Iceland exported to Armenia were Orthopedic Appliances ($1.32M), Live Fish ($25.5k), and Other Inedible Animal Products ($25.4k). Over the past 5 years the exports of Iceland to Armenia have increased at an annualized rate of 4.21%, from $1.14M in 2018 to $1.4M in 2023.

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

Armenia-Iceland Trade: In 2023, Armenia exported $4.54k to Iceland. The main products that Armenia exported to Iceland were Wine ($984), Centrifuges ($784), and Non-Knit Women's Suits ($726). Over the past 5 years the exports of Armenia to Iceland have decreased at an annualized rate of 22.4%,  from $16.1k in 2018 to $4.54k in 2023.

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

Comparison In 2023,  Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $1.4M to Armenia. The main products exported from Iceland to Armenia were Orthopedic Appliances ($1.32M), Live Fish ($25.5k), and Other Inedible Animal Products ($25.4k). During the last 5 years the exports of Iceland to Armenia have increased at an annualized rate of 4.21%, from $1.14M in 2018 to $1.4M in 2023.

In 2018, Armenia exported $4.54k to Iceland. The main products exported from Armenia to Iceland were Wine ($984), Centrifuges ($784), and Non-Knit Women's Suits ($726). During the last 5 years the exports of Armenia to Iceland have decreased at an annualized rate of 22.4%, from $16.1k in 2023 to $4.54k in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Armenia (Flag)

Iceland Exports

Armenia Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Iceland than Armenia included Netherlands ($1.97B), United States ($735M), and Germany ($771M).

In 2023, countries that imported more from Armenia than Iceland included Russia ($3.38B), United Arab Emirates ($2.25B), and Hong Kong ($669M).

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

Comparative Advantage Iceland - Armenia

Flow
Scale

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

During 2023, Iceland had a large net trade with Armenia in the exports of Instruments ($1.32M), Animal Products ($64.4k), and Chemical Products ($8.09k).

During 2018, Armenia had a large net trade with Iceland in the exports of Textiles ($1.46k), Foodstuffs ($984), and Machines ($947).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and Armenia (Flag) (2023)

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms