2022
Flag  
GDP
$27.8BCURRENT US$
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2012-2022
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GDP GROWTH
88.7%CURRENT US$
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2022
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 GDP
$808BCURRENT US$
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2012-2022
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GDP GROWTH
17.7%CURRENT US$
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2022
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GDP PC 
$72,903CURRENT US$
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2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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2022
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GDP PC
$92,101CURRENT US$
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2012-2022
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GDP PC GROWTH
7.3%CURRENT US$
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About

Iceland-Switzerland Trade: In 2022, Iceland exported $56.7M to Switzerland. The main products that Iceland exported to Switzerland were Fish Fillets ($10.2M), Raw Aluminium ($9.47M), and Vaccines, blood, antisera, toxins and cultures ($9.12M). Over the past 5 years the exports of Iceland to Switzerland have increased at an annualized rate of 12%, from $32.2M in 2017 to $56.7M in 2022.

In 2019, Iceland exported services to Switzerland worth $98.2M, with Travel ($71.6M), Transportation ($10.2M), and Computer and information services ($7.72M) being the largest in terms of value.

Switzerland-Iceland Trade: In 2022, Switzerland exported $68.5M to Iceland. The main products that Switzerland exported to Iceland were Packaged Medicaments ($7.39M), Raw Aluminium ($6.11M), and Flavored Water ($5.68M). Over the past 5 years the exports of Switzerland to Iceland have increased at an annualized rate of 4.87%,  from $54M in 2017 to $68.5M in 2022.

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

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Switzerland ranked 2 in the Economic Complexity Index (ECI 1.97), and 17 in total exports ($402B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $56.7M to Switzerland. The main products exported from Iceland to Switzerland were Fish Fillets ($10.2M), Raw Aluminium ($9.47M), and Vaccines, blood, antisera, toxins and cultures ($9.12M). During the last 5 years the exports of Iceland to Switzerland have increased at an annualized rate of 12%, from $32.2M in 2017 to $56.7M in 2022.

In 2017, Switzerland exported $68.5M to Iceland. The main products exported from Switzerland to Iceland were Packaged Medicaments ($7.39M), Raw Aluminium ($6.11M), and Flavored Water ($5.68M). During the last 5 years the exports of Switzerland to Iceland have increased at an annualized rate of 4.87%, from $54M in 2022 to $68.5M in 2017.

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

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

Latest Data

Trade between Iceland (Flag) and Switzerland (Flag)

Iceland Exports

Switzerland Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Switzerland
Top Destination
United States$61.7B

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

In 2022, countries that imported more from Iceland than Switzerland included Greenland ($28.2M), Wallis and Futuna ($3.54M), and Antigua and Barbuda ($8.12M).

In 2022, countries that imported more from Switzerland than Iceland included United States ($61.7B), Germany ($53.5B), and China ($44.1B).

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

Comparative Advantage Iceland - Switzerland

Flow
Scale

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

During 2022, Iceland had a large net trade with Switzerland in the exports of Chemical Products ($16.2M), Animal Products ($15.9M), and Metals ($14.7M).

During 2017, Switzerland had a large net trade with Iceland in the exports of Foodstuffs ($15.1M), Machines ($11M), and Chemical Products ($9.93M).

Economic Complexity

Competitive Landscape

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

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

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