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2022
Flag → Flag
Exports $193kRnk 104 / 160
2022
Flag → Flag
Top Product $75.9kIndustrial Food Preperation Machinery
2022
Flag → Flag
Exports $5.65MRnk 91 / 170
2022
Flag → Flag
Top Product $5.12MBananas
2022
Flag
Economic Complexity (ECI) ECI -0.96Rnk 109 / 133
2022
Flag  
GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
 GDP$115BCURRENT US$
Rnk 62 / 186
2012-2022
Flag
GDP GROWTH30.9%CURRENT US$
Rnk 98 / 186
2022
Flag
GDP PC $72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186
2022
Flag
GDP PC$6,391CURRENT US$
Rnk 101 / 186
2012-2022
Flag
GDP PC GROWTH12.6%CURRENT US$
Rnk 106 / 186

About

Iceland-Ecuador Trade: In 2022, Iceland exported $193k to Ecuador. The main products that Iceland exported to Ecuador were Industrial Food Preperation Machinery ($75.9k), Revolution Counters ($44.2k), and Orthopedic Appliances ($13.7k). Over the past 5 years the exports of Iceland to Ecuador have decreased at an annualized rate of 34.4%, from $1.59M in 2017 to $193k in 2022.

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

Ecuador-Iceland Trade: In 2022, Ecuador exported $5.65M to Iceland. The main products that Ecuador exported to Iceland were Bananas ($5.12M), Fish oil ($321k), and Cut Flowers ($77.7k). Over the past 5 years the exports of Ecuador to Iceland have increased at an annualized rate of 4.92%,  from $4.44M in 2017 to $5.65M in 2022.

In 2022, Ecuador 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, Ecuador ranked 109 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $193k to Ecuador. The main products exported from Iceland to Ecuador were Industrial Food Preperation Machinery ($75.9k), Revolution Counters ($44.2k), and Orthopedic Appliances ($13.7k). During the last 5 years the exports of Iceland to Ecuador have decreased at an annualized rate of 34.4%, from $1.59M in 2017 to $193k in 2022.

In 2017, Ecuador exported $5.65M to Iceland. The main products exported from Ecuador to Iceland were Bananas ($5.12M), Fish oil ($321k), and Cut Flowers ($77.7k). During the last 5 years the exports of Ecuador to Iceland have increased at an annualized rate of 4.92%, from $4.44M in 2022 to $5.65M in 2017.

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

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

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$9.86B

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 2022, countries that imported more from Iceland than Ecuador included Netherlands ($1.97B), Norway ($459M), and United Kingdom ($672M).

In 2022, countries that imported more from Ecuador than Iceland included United States ($9.86B), China ($6.17B), and Panama ($4.97B).

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

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 2022, Iceland had a large net trade with Ecuador in the exports of Machines ($86.8k), Instruments ($66.7k), and Chemical Products ($12.2k).

During 2017, Ecuador had a large net trade with Iceland in the exports of Vegetable Products ($5.23M), Animal and Vegetable Bi-Products ($321k), and Foodstuffs ($55.4k).

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) (2022)

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