2022
Flag  
GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH
88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
 GDP
$68.4BCURRENT US$
Rnk 83 / 186
2012-2022
Flag
GDP GROWTH
44.8%CURRENT US$
Rnk 76 / 186
2022
Flag
GDP PC 
$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH
58.5%CURRENT US$
Rnk 29 / 186
2022
Flag
GDP PC
$13,199CURRENT US$
Rnk 66 / 186
2012-2022
Flag
GDP PC GROWTH
32.4%CURRENT US$
Rnk 60 / 186

About

Iceland-Costa Rica Trade: In 2022, Iceland exported $956k to Costa Rica. The main products that Iceland exported to Costa Rica were Other Cloth Articles ($411k), Orthopedic Appliances ($397k), and Beauty Products ($43.2k). Over the past 5 years the exports of Iceland to Costa Rica have decreased at an annualized rate of 18.5%, from $2.65M in 2017 to $956k in 2022.

In 2022, Iceland did not export any services to Costa Rica.

Costa Rica-Iceland Trade: In 2022, Costa Rica exported $2.65M to Iceland. The main products that Costa Rica exported to Iceland were Bananas ($666k), Tropical Fruits ($537k), and Melons ($474k). Over the past 5 years the exports of Costa Rica to Iceland have decreased at an annualized rate of 4.89%,  from $3.41M in 2017 to $2.65M in 2022.

In 2022, Costa Rica 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, Costa Rica ranked 51 in the Economic Complexity Index (ECI 0.32), and 82 in total exports ($17.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $956k to Costa Rica. The main products exported from Iceland to Costa Rica were Other Cloth Articles ($411k), Orthopedic Appliances ($397k), and Beauty Products ($43.2k). During the last 5 years the exports of Iceland to Costa Rica have decreased at an annualized rate of 18.5%, from $2.65M in 2017 to $956k in 2022.

In 2017, Costa Rica exported $2.65M to Iceland. The main products exported from Costa Rica to Iceland were Bananas ($666k), Tropical Fruits ($537k), and Melons ($474k). During the last 5 years the exports of Costa Rica to Iceland have decreased at an annualized rate of 4.89%, from $3.41M in 2022 to $2.65M in 2017.

Exports from Iceland (Flag) to Costa Rica (Flag) (2022)

Exports from Costa Rica (Flag) to Iceland (Flag) (2022)

Latest Data

Trade between Iceland (Flag) and Costa Rica (Flag)

Iceland Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Costa Rica
Top Destination
United States$6.83B

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

In 2022, countries that imported more from Iceland than Costa Rica included Netherlands ($1.97B), Norway ($459M), and France ($459M).

In 2022, countries that imported more from Costa Rica than Iceland included United States ($6.83B), Guatemala ($821M), and Belgium ($775M).

Difference in imports from Costa Rica (Flag) and Iceland (Flag) (2022)

Comparative Advantage Iceland - Costa Rica

Flow
Scale

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

During 2022, Iceland had a large net trade with Costa Rica in the exports of Instruments ($414k), Textiles ($411k), and Plastics and Rubbers ($50.3k).

During 2017, Costa Rica had a large net trade with Iceland in the exports of Vegetable Products ($2.02M), Instruments ($458k), and Chemical Products ($90.7k).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and Costa Rica (Flag) (2022)

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