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2023
Flag → Flag
Exports $34.6MRnk 26 / 157
2023
Flag → Flag
Top Product $18.3MNon-fillet Frozen Fish
2023
Flag → Flag
Exports $762kRnk 73 / 123
2023
Flag → Flag
Top Product $583kAluminium Bars
2023
Flag
Economic Complexity (ECI) ECI 0.81Rnk 33 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$71.9BCURRENT US$
Rnk 84 / 195
2013-2023
Flag
GDP GROWTH-4.86%CURRENT US$
Rnk 175 / 195
2023
Flag
GDP PC $79,637CURRENT US$
Rnk 11 / 195
2013-2023
Flag
GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195
2023
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GDP PC$7,829CURRENT US$
Rnk 98 / 196
2013-2023
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GDP PC GROWTH-2.11%CURRENT US$
Rnk 156 / 195

About

Iceland-Belarus Trade: In 2023, Iceland exported $34.6M to Belarus. The main products that Iceland exported to Belarus were Non-fillet Frozen Fish ($18.3M), Fish Fillets ($16.1M), and Processed Fish ($178k). Over the past 5 years the exports of Iceland to Belarus have decreased at an annualized rate of 2.46%, from $39.2M in 2018 to $34.6M in 2023.

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

Belarus-Iceland Trade: In 2023, Belarus exported $762k to Iceland. The main products that Belarus exported to Iceland were Aluminium Bars ($583k), Hand Saws ($42k), and Air Pumps ($38.8k). Over the past 5 years the exports of Belarus to Iceland have decreased at an annualized rate of 39.1%,  from $15M in 2018 to $762k in 2023.

In 2014, Belarus exported services to Iceland worth $9, with Insurance services ($9) 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, Belarus ranked 33 in the Economic Complexity Index (ECI 0.81), and 114 in total exports ($7.61B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $34.6M to Belarus. The main products exported from Iceland to Belarus were Non-fillet Frozen Fish ($18.3M), Fish Fillets ($16.1M), and Processed Fish ($178k). During the last 5 years the exports of Iceland to Belarus have decreased at an annualized rate of 2.46%, from $39.2M in 2018 to $34.6M in 2023.

In 2018, Belarus exported $762k to Iceland. The main products exported from Belarus to Iceland were Aluminium Bars ($583k), Hand Saws ($42k), and Air Pumps ($38.8k). During the last 5 years the exports of Belarus to Iceland have decreased at an annualized rate of 39.1%, from $15M in 2023 to $762k in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Belarus (Flag)

Iceland Exports

Belarus Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Belarus
Top DestinationChina$2.6B

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

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

In 2023, countries that imported more from Belarus than Iceland included China ($2.6B), Kazakhstan ($757M), and Uzbekistan ($509M).

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

Comparative Advantage Iceland - Belarus

Flow
Scale

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

During 2023, Iceland had a large net trade with Belarus in the exports of Animal Products ($34.4M) and Foodstuffs ($178k).

During 2018, Belarus had a large net trade with Iceland in the exports of Metals ($649k), Plastics and Rubbers ($49.5k), and Machines ($41.2k).

Economic Complexity

Competitive Landscape

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

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

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