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2023
Flag → Flag
Exports $1.69MRnk 72 / 157
2023
Flag → Flag
Top Product $1.51MIndustrial Printers
2023
Flag → Flag
Exports $8.39MRnk 90 / 174
2023
Flag → Flag
Top Product $7.65MBananas
2023
Flag
Economic Complexity (ECI) ECI -0.85Rnk 104 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$119BCURRENT US$
Rnk 63 / 195
2013-2023
Flag
GDP GROWTH23.1%CURRENT US$
Rnk 131 / 195
2023
Flag
GDP PC $79,637CURRENT US$
Rnk 11 / 195
2013-2023
Flag
GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195
2023
Flag
GDP PC$6,610CURRENT US$
Rnk 109 / 196
2013-2023
Flag
GDP PC GROWTH8.19%CURRENT US$
Rnk 141 / 195

About

Iceland-Ecuador Trade: In 2023, Iceland exported $1.69M to Ecuador. The main products that Iceland exported to Ecuador were Industrial Printers ($1.51M), Machinery Having Individual Functions ($124k), and Electrical Control Boards ($15.6k). Over the past 5 years the exports of Iceland to Ecuador have increased at an annualized rate of 60.1%, from $160k in 2018 to $1.69M in 2023.

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

Ecuador-Iceland Trade: In 2023, Ecuador exported $8.39M to Iceland. The main products that Ecuador exported to Iceland were Bananas ($7.65M), Processed Fish ($219k), and Fish Oil ($211k). Over the past 5 years the exports of Ecuador to Iceland have increased at an annualized rate of 8.76%,  from $5.51M in 2018 to $8.39M in 2023.

In 2023, Ecuador 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, Ecuador ranked 104 in the Economic Complexity Index (ECI -0.85), and 65 in total exports ($37.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $1.69M to Ecuador. The main products exported from Iceland to Ecuador were Industrial Printers ($1.51M), Machinery Having Individual Functions ($124k), and Electrical Control Boards ($15.6k). During the last 5 years the exports of Iceland to Ecuador have increased at an annualized rate of 60.1%, from $160k in 2018 to $1.69M in 2023.

In 2018, Ecuador exported $8.39M to Iceland. The main products exported from Ecuador to Iceland were Bananas ($7.65M), Processed Fish ($219k), and Fish Oil ($211k). During the last 5 years the exports of Ecuador to Iceland have increased at an annualized rate of 8.76%, from $5.51M in 2023 to $8.39M in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Ecuador (Flag)

Iceland Exports

Ecuador Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Ecuador
Top DestinationUnited States$8.34B

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

In 2023, countries that imported more from Iceland than Ecuador included Netherlands ($1.97B), Norway ($444M), and Germany ($771M).

In 2023, countries that imported more from Ecuador than Iceland included China ($7.96B), United States ($8.34B), and Panama ($4.38B).

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

Comparative Advantage Iceland - Ecuador

Flow
Scale

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

During 2023, Iceland had a large net trade with Ecuador in the exports of Machines ($1.65M), Instruments ($13.7k), and Animal and Vegetable Bi-Products ($9.33k).

During 2018, Ecuador had a large net trade with Iceland in the exports of Vegetable Products ($7.77M), Foodstuffs ($293k), and Animal and Vegetable Bi-Products ($211k).

Economic Complexity

Competitive Landscape

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

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

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