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2023
Flag → Flag
Exports $2.76MRnk 64 / 157
2023
Flag → Flag
Top Product $1.09MRefrigerators
2023
Flag → Flag
Exports $48.4MRnk 62 / 183
2023
Flag → Flag
Top Product $44.3MCoal Briquettes
2023
Flag
Economic Complexity (ECI) ECI 0.23Rnk 51 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$363BCURRENT US$
Rnk 42 / 195
2013-2023
Flag
GDP GROWTH-4.87%CURRENT US$
Rnk 176 / 195
2023
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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$6,947CURRENT US$
Rnk 104 / 196
2013-2023
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GDP PC GROWTH-16.1%CURRENT US$
Rnk 173 / 195

About

Iceland-Colombia Trade: In 2023, Iceland exported $2.76M to Colombia. The main products that Iceland exported to Colombia were Refrigerators ($1.09M), Fish Oil ($657k), and Industrial Food Preperation Machinery ($494k). Over the past 5 years the exports of Iceland to Colombia have increased at an annualized rate of 25.7%, from $881k in 2018 to $2.76M in 2023.

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

Colombia-Iceland Trade: In 2023, Colombia exported $48.4M to Iceland. The main products that Colombia exported to Iceland were Coal Briquettes ($44.3M), Refined Petroleum ($1.88M), and Coffee ($1.04M). Over the past 5 years the exports of Colombia to Iceland have increased at an annualized rate of 84.4%,  from $2.27M in 2018 to $48.4M in 2023.

In 2023, Colombia 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, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $2.76M to Colombia. The main products exported from Iceland to Colombia were Refrigerators ($1.09M), Fish Oil ($657k), and Industrial Food Preperation Machinery ($494k). During the last 5 years the exports of Iceland to Colombia have increased at an annualized rate of 25.7%, from $881k in 2018 to $2.76M in 2023.

In 2018, Colombia exported $48.4M to Iceland. The main products exported from Colombia to Iceland were Coal Briquettes ($44.3M), Refined Petroleum ($1.88M), and Coffee ($1.04M). During the last 5 years the exports of Colombia to Iceland have increased at an annualized rate of 84.4%, from $2.27M in 2023 to $48.4M in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Colombia (Flag)

Iceland Exports

Colombia Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Colombia
Top DestinationUnited States$14.8B

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

In 2023, countries that imported more from Iceland than Colombia included Denmark ($228M), Norway ($444M), and Greenland ($72.3M).

In 2023, countries that imported more from Colombia than Iceland included United States ($14.8B), Panama ($4.66B), and India ($2.51B).

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

Comparative Advantage Iceland - Colombia

Flow
Scale

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

During 2023, Iceland had a large net trade with Colombia in the exports of Machines ($1.69M), Animal and Vegetable Bi-Products ($657k), and Instruments ($236k).

During 2018, Colombia had a large net trade with Iceland in the exports of Mineral Products ($46.2M), Vegetable Products ($2.05M), and Chemical Products ($36.9k).

Economic Complexity

Competitive Landscape

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

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

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