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2022
Flag → Flag
Exports $28.2MRnk 26 / 160
2022
Flag → Flag
Top Product $17MRefined Petroleum
2022
Flag → Flag
Exports $18.9MRnk 9 / 66
2022
Flag → Flag
Top Product $9.43MNon-fillet Fresh Fish
2022
Flag  
GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC $72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Iceland-Greenland Trade: In 2022, Iceland exported $28.2M to Greenland. The main products that Iceland exported to Greenland were Refined Petroleum ($17M), Phosphinates (hypophosphites) and phosphonates (phosphites) ($2.15M), and Fish: dried, salted, smoked or in brine ($934k). Over the past 5 years the exports of Iceland to Greenland have decreased at an annualized rate of 6.3%, from $39.1M in 2017 to $28.2M in 2022.

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

Greenland-Iceland Trade: In 2022, Greenland exported $18.9M to Iceland. The main products that Greenland exported to Iceland were Non-fillet Fresh Fish ($9.43M), Other Inedible Animal Products ($3.3M), and Crustaceans ($3.26M). Over the past 5 years the exports of Greenland to Iceland have decreased at an annualized rate of 14.3%,  from $40.9M in 2017 to $18.9M in 2022.

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

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B). That same year, Greenland ranked 152 in total exports ($1.49B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $28.2M to Greenland. The main products exported from Iceland to Greenland were Refined Petroleum ($17M), Phosphinates (hypophosphites) and phosphonates (phosphites) ($2.15M), and Fish: dried, salted, smoked or in brine ($934k). During the last 5 years the exports of Iceland to Greenland have decreased at an annualized rate of 6.3%, from $39.1M in 2017 to $28.2M in 2022.

In 2017, Greenland exported $18.9M to Iceland. The main products exported from Greenland to Iceland were Non-fillet Fresh Fish ($9.43M), Other Inedible Animal Products ($3.3M), and Crustaceans ($3.26M). During the last 5 years the exports of Greenland to Iceland have decreased at an annualized rate of 14.3%, from $40.9M in 2022 to $18.9M in 2017.

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

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

Latest Data

Trade between Iceland (Flag) and Greenland (Flag)

Iceland Exports

Greenland Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Greenland
Top DestinationDenmark$731M

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

In 2022, countries that imported more from Iceland than Greenland included Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

In 2022, countries that imported more from Greenland than Iceland included Denmark ($731M), China ($353M), and Chinese Taipei ($51.1M).

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

Comparative Advantage Iceland - Greenland

Flow
Scale

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

During 2022, Iceland had a large net trade with Greenland in the exports of Mineral Products ($17.2M), Animal Products ($2.26M), and Chemical Products ($2.22M).

During 2017, Greenland had a large net trade with Iceland in the exports of Animal Products ($17.1M), Foodstuffs ($839k), and Mineral Products ($491k).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and Greenland (Flag) (2022)

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