2022
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GDP
$27.8BCURRENT US$
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2012-2022
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GDP GROWTH
88.7%CURRENT US$
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2022
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 GDP
$3.07TCURRENT US$
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2012-2022
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GDP GROWTH
13.5%CURRENT US$
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2022
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GDP PC 
$72,903CURRENT US$
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2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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2022
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GDP PC
$45,850CURRENT US$
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2012-2022
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GDP PC GROWTH
7.92%CURRENT US$
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About

Iceland-United Kingdom In 2022, Iceland exported $672M to United Kingdom. The main products that Iceland exported to United Kingdom are Fish Fillets ($219M), Raw Aluminium ($128M), and Animal Meal and Pellets ($67.1M). During the last 27 years the exports of Iceland to United Kingdom have increased at an annualized rate of 2.23%, from $370M in 1995 to $672M in 2022.

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 In 2022, United Kingdom exported $482M to Iceland. The main products that United Kingdom exported to Iceland were Planes, Helicopters, and/or Spacecraft ($107M), Coal Briquettes ($37.5M), and Cars ($14.6M). During the last 27 years the exports of United Kingdom to Iceland have increased at an annualized rate of 3.02%, from $216M in 1995 to $482M in 2022.

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 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.38), and 14 in total exports ($469B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $672M to United Kingdom. The main products exported from Iceland to United Kingdom were Fish Fillets ($219M), Raw Aluminium ($128M), and Animal Meal and Pellets ($67.1M). During the last 27 years the exports of Iceland to United Kingdom have increased at an annualized rate of 2.23%, from $370M in 1995 to $672M in 2022.

In 2022, United Kingdom exported $482M to Iceland. The main products exported from United Kingdom to Iceland were Planes, Helicopters, and/or Spacecraft ($107M), Coal Briquettes ($37.5M), and Cars ($14.6M). During the last 27 years the exports of United Kingdom to Iceland have increased at an annualized rate of 3.02%, from $216M in 1995 to $482M in 2022.

Exports from Iceland (Flag) to United Kingdom (Flag) (2022)

Exports from United Kingdom (Flag) to Iceland (Flag) (2022)

Latest Data

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

Iceland Exports

United Kingdom Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
United Kingdom
Top Destination
United States$61.8B

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 2021, countries that imported more from Iceland than United Kingdom were Greenland ($28.2M) and Wallis and Futuna ($3.54M).

In 2021, countries that imported more from United Kingdom than Iceland were United States ($61.8B), Germany ($40.6B), and Netherlands ($41.9B).

Difference in imports from United Kingdom (Flag) and Iceland (Flag) (2022)

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 2022, Iceland had a large net trade with United Kingdom in the exports of Animal Products ($293M), Metals ($146M), and Foodstuffs ($117M).

During 2022, United Kingdom had a large net trade with Iceland in the exports of Transportation ($140M), Machines ($80.5M), and Mineral Products ($48M).

Service Trade

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)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Iceland has comparative advantage over United Kingdom. Similarly, the more yellow a dot/product is, the more United Kingdom has comparative advantage over Iceland.

Product Space of Iceland (Flag) and United Kingdom (Flag) (2022)

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