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2023
Flag → Flag
Exports $607MRnk 4 / 157
2023
Flag → Flag
Top Product $211MFish Fillets
2023
Flag → Flag
Exports $405MRnk 71 / 223
2023
Flag → Flag
Top Product $35.5MGas Turbines
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 11 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$3.38TCURRENT US$
Rnk 6 / 195
2013-2023
Flag
GDP GROWTH21.4%CURRENT US$
Rnk 136 / 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$49,464CURRENT US$
Rnk 26 / 196
2013-2023
Flag
GDP PC GROWTH13.9%CURRENT US$
Rnk 124 / 195

About

Iceland-United Kingdom Trade: In 2023, Iceland exported $607M to United Kingdom. The main products that Iceland exported to United Kingdom were Fish Fillets ($211M), Raw Aluminium ($70M), and Animal Meal and Pellets ($67.3M). Over the past 5 years the exports of Iceland to United Kingdom have decreased at an annualized rate of 0.16%, from $612M in 2018 to $607M in 2023.

In 2019, Iceland exported services to United Kingdom worth $649M, with Travel ($412M), Transportation ($135M), and Computer and information services ($45.3M) being the largest in terms of value.

United Kingdom-Iceland Trade: In 2023, United Kingdom exported $405M to Iceland. The main products that United Kingdom exported to Iceland were Gas Turbines ($35.5M), Cars ($31.2M), and Refined Petroleum ($24.1M). Over the past 5 years the exports of United Kingdom to Iceland have decreased at an annualized rate of 1.03%,  from $427M in 2018 to $405M in 2023.

In 2019, United Kingdom exported services to Iceland worth $268M, with Other business services ($253M), Computer and information services ($15.3M), and Communications services ($3.81M) being the largest in terms of value.

Comparison In 2023,  Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $607M to United Kingdom. The main products exported from Iceland to United Kingdom were Fish Fillets ($211M), Raw Aluminium ($70M), and Animal Meal and Pellets ($67.3M). During the last 5 years the exports of Iceland to United Kingdom have decreased at an annualized rate of 0.16%, from $612M in 2018 to $607M in 2023.

In 2018, United Kingdom exported $405M to Iceland. The main products exported from United Kingdom to Iceland were Gas Turbines ($35.5M), Cars ($31.2M), and Refined Petroleum ($24.1M). During the last 5 years the exports of United Kingdom to Iceland have decreased at an annualized rate of 1.03%, from $427M in 2023 to $405M in 2018.

Exports from Iceland (Flag) to United Kingdom (Flag) (2023)

Exports from United Kingdom (Flag) to Iceland (Flag) (2023)

Latest Data

Trade between Iceland (Flag) and United Kingdom (Flag)

Iceland Exports

United Kingdom Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
United Kingdom
Top DestinationUnited States$59.7B

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

In 2023, countries that imported more from Iceland than United Kingdom included Greenland ($72.3M) and Belarus ($34.6M).

In 2023, countries that imported more from United Kingdom than Iceland included United States ($59.7B), China ($35.3B), and Germany ($34.6B).

Difference in imports from United Kingdom (Flag) and Iceland (Flag) (2023)

Comparative Advantage Iceland - United Kingdom

Flow
Scale

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

During 2023, Iceland had a large net trade with United Kingdom in the exports of Animal Products ($286M), Foodstuffs ($125M), and Metals ($83.4M).

During 2018, United Kingdom had a large net trade with Iceland in the exports of Machines ($99.1M), Foodstuffs ($61.9M), and Transportation ($58.2M).

Bilateral Service Trade

In 2019, Iceland exported services to United Kingdom worth $649M, with Travel ($412M), Transportation ($135M), and Computer and information services ($45.3M) being the largest in terms of value.

In 2019, United Kingdom exported services to Iceland worth $268M, with Other business services ($253M), Computer and information services ($15.3M), and Communications services ($3.81M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to United Kingdom (Flag) (2019)

Services Exports from United Kingdom (Flag) to Iceland (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and United Kingdom (Flag) (2023)

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