2023
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GDP
$31.3BCURRENT US$
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2013-2023
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GDP GROWTH
94.3%CURRENT US$
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2023
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 GDP
$17.8TCURRENT US$
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2013-2023
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GDP GROWTH
85.9%CURRENT US$
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2023
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GDP PC 
$79,637CURRENT US$
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2013-2023
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GDP PC GROWTH
59.9%CURRENT US$
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2023
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GDP PC
$12,614CURRENT US$
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2013-2023
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GDP PC GROWTH
79.7%CURRENT US$
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About

Iceland-China Trade: In 2023, Iceland exported $209M to China. The main products that Iceland exported to China were Non-fillet Frozen Fish ($111M), Sculptures ($37.8M), and Non-fillet Fresh Fish ($13.1M). Over the past 5 years the exports of Iceland to China have increased at an annualized rate of 5.79%, from $158M in 2018 to $209M in 2023.

In 2019, Iceland exported services to China worth $95.8M, with Travel ($80M), Transportation ($7.39M), and Computer and information services ($3.02M) being the largest in terms of value.

China-Iceland Trade: In 2023, China exported $908M to Iceland. The main products that China exported to Iceland were Carbon-based Electronics ($243M), Broadcasting Equipment ($52.9M), and Computers ($52.1M). Over the past 5 years the exports of China to Iceland have increased at an annualized rate of 5.96%,  from $680M in 2018 to $908M in 2023.

In 2023, China 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, China ranked 21 in the Economic Complexity Index (ECI 1.16), and 1 in total exports ($3.42T).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $209M to China. The main products exported from Iceland to China were Non-fillet Frozen Fish ($111M), Sculptures ($37.8M), and Non-fillet Fresh Fish ($13.1M). During the last 5 years the exports of Iceland to China have increased at an annualized rate of 5.79%, from $158M in 2018 to $209M in 2023.

In 2018, China exported $908M to Iceland. The main products exported from China to Iceland were Carbon-based Electronics ($243M), Broadcasting Equipment ($52.9M), and Computers ($52.1M). During the last 5 years the exports of China to Iceland have increased at an annualized rate of 5.96%, from $680M in 2023 to $908M in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and China (Flag)

Iceland Exports

China Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
China
Top Destination
United States$436B

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

In 2023, countries that imported more from Iceland than China included Greenland ($72.3M) and Guam ($271).

In 2023, countries that imported more from China than Iceland included United States ($436B), Hong Kong ($259B), and Japan ($169B).

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

Comparative Advantage Iceland - China

Flow
Scale

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

During 2023, Iceland had a large net trade with China in the exports of Animal Products ($128M), Arts and Antiques ($42.4M), and Metals ($11.2M).

During 2018, China had a large net trade with Iceland in the exports of Machines ($498M), Textiles ($90.6M), and Miscellaneous ($65.5M).

Economic Complexity

Competitive Landscape

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

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

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