Iceland (ISL) and Bosnia and Herzegovina (BIH) Trade | The Observatory of Economic Complexity

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Iceland-Bosnia and Herzegovina Trade: In 2023, Iceland exported $193k to Bosnia and Herzegovina. The main products that Iceland exported to Bosnia and Herzegovina were Orthopedic Appliances ($173k), Packaged Medicaments ($11.4k), and Industrial Fatty Acids, Oils and Alcohols ($1.85k). Over the past 5 years the exports of Iceland to Bosnia and Herzegovina have decreased at an annualized rate of 12.7%, from $380k in 2018 to $193k in 2023.

In 2023, Iceland did not export any services to Bosnia and Herzegovina.

Bosnia and Herzegovina-Iceland Trade: In 2023, Bosnia and Herzegovina exported $991k to Iceland. The main products that Bosnia and Herzegovina exported to Iceland were Seats ($220k), Brochures ($164k), and Frozen Fruits and Nuts ($101k). Over the past 5 years the exports of Bosnia and Herzegovina to Iceland have increased at an annualized rate of 7.98%, from $675k in 2018 to $991k in 2023.

In 2019, Bosnia and Herzegovina exported services to Iceland worth $560k, with Travel ($560k) 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, Bosnia and Herzegovina ranked 37 in the Economic Complexity Index (ECI 0.7), and 105 in total exports ($9.67B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Iceland exported $193k to Bosnia and Herzegovina. The main products exported from Iceland to Bosnia and Herzegovina were Orthopedic Appliances ($173k), Packaged Medicaments ($11.4k), and Industrial Fatty Acids, Oils and Alcohols ($1.85k). During the last 5 years the exports of Iceland to Bosnia and Herzegovina have decreased at an annualized rate of 12.7%, from $380k in 2018 to $193k in 2023.

In 2018, Bosnia and Herzegovina exported $991k to Iceland. The main products exported from Bosnia and Herzegovina to Iceland were Seats ($220k), Brochures ($164k), and Frozen Fruits and Nuts ($101k). During the last 5 years the exports of Bosnia and Herzegovina to Iceland have increased at an annualized rate of 7.98%, from $675k in 2023 to $991k in 2018.

Exports from Iceland () to Bosnia and Herzegovina () (2023)

Exports from Bosnia and Herzegovina () to Iceland () (2023)

Latest Data

Trade between Iceland () and Bosnia and Herzegovina ()

Iceland Exports

Date

Bosnia and Herzegovina Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Bosnia and Herzegovina
Top DestinationGermany$1.48B

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

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

In 2023, countries that imported more from Bosnia and Herzegovina than Iceland included Croatia ($1.39B), Serbia ($1.18B), and Austria ($996M).

Difference in imports from Bosnia and Herzegovina () and Iceland () (2023)

Comparative Advantage Iceland - Bosnia and Herzegovina

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Iceland had a large net trade with Bosnia and Herzegovina in the exports of Instruments ($174k), Chemical Products ($13.2k), and Metals ($3.47k).

During 2018, Bosnia and Herzegovina had a large net trade with Iceland in the exports of Miscellaneous ($329k), Paper Goods ($175k), and Textiles ($151k).

Bilateral Service Trade

Bih Year

In 2019, Bosnia and Herzegovina exported services to Iceland worth $560k, with Travel ($560k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Bosnia and Herzegovina () to Iceland () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Iceland () to Bosnia and Herzegovina () (2023)

Exports from Bosnia and Herzegovina () to Iceland () (2023)

Latest Data

Trade between Iceland () and Bosnia and Herzegovina ()

Iceland Exports

Bosnia and Herzegovina Exports

Market Competitiveness

Difference in imports from Bosnia and Herzegovina () and Iceland () (2023)

Comparative Advantage Iceland - Bosnia and Herzegovina

Bilateral Service Trade

Services Exports from Bosnia and Herzegovina () to Iceland () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Iceland () and Bosnia and Herzegovina () (2023)

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