2023
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GDP
$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
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GDP GROWTH
94.3%CURRENT US$
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2023
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 GDP
$381BCURRENT US$
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2013-2023
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GDP GROWTH
38.1%CURRENT US$
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2023
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GDP PC 
$79,637CURRENT US$
Rnk 11 / 195
2013-2023
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GDP PC GROWTH
59.9%CURRENT US$
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2023
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GDP PC
$50,532CURRENT US$
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2013-2023
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GDP PC GROWTH
31.6%CURRENT US$
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About

Iceland-Hong Kong Trade: In 2023, Iceland exported $4.38M to Hong Kong. The main products that Iceland exported to Hong Kong were Non-fillet Frozen Fish ($1.26M), Fish Fillets ($556k), and Optical Fibers and optical fibre bundles ($493k). Over the past 5 years the exports of Iceland to Hong Kong have decreased at an annualized rate of 19.8%, from $13.2M in 2018 to $4.38M in 2023.

In 2019, Iceland exported services to Hong Kong worth $38.8M, with Travel ($27.9M), Computer and information services ($8.51M), and Transportation ($2.02M) being the largest in terms of value.

Hong Kong-Iceland Trade: In 2023, Hong Kong exported $10.1M to Iceland. The main products that Hong Kong exported to Iceland were Broadcasting Equipment ($2.08M), Computers ($811k), and Hydrogen ($766k). Over the past 5 years the exports of Hong Kong to Iceland have decreased at an annualized rate of 15.5%,  from $23.6M in 2018 to $10.1M in 2023.

In 2023, Hong Kong 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, Hong Kong ranked 23 in the Economic Complexity Index (ECI 1.12), and 38 in total exports ($117B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $4.38M to Hong Kong. The main products exported from Iceland to Hong Kong were Non-fillet Frozen Fish ($1.26M), Fish Fillets ($556k), and Optical Fibers and optical fibre bundles ($493k). During the last 5 years the exports of Iceland to Hong Kong have decreased at an annualized rate of 19.8%, from $13.2M in 2018 to $4.38M in 2023.

In 2018, Hong Kong exported $10.1M to Iceland. The main products exported from Hong Kong to Iceland were Broadcasting Equipment ($2.08M), Computers ($811k), and Hydrogen ($766k). During the last 5 years the exports of Hong Kong to Iceland have decreased at an annualized rate of 15.5%, from $23.6M in 2023 to $10.1M in 2018.

Exports from Iceland (Flag) to Hong Kong (Flag) (2023)

Exports from Hong Kong (Flag) to Iceland (Flag) (2023)

Latest Data

Trade between Iceland (Flag) and Hong Kong (Flag)

Iceland Exports

Hong Kong Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Hong Kong
Top Destination
China$25.3B

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

In 2023, countries that imported more from Iceland than Hong Kong included Norway ($444M), Greenland ($72.3M), and Ukraine ($101M).

In 2023, countries that imported more from Hong Kong than Iceland included China ($25.3B), Vietnam ($14.4B), and South Korea ($9.5B).

Difference in imports from Hong Kong (Flag) and Iceland (Flag) (2023)

Comparative Advantage Iceland - Hong Kong

Flow
Scale

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

During 2023, Iceland had a large net trade with Hong Kong in the exports of Animal Products ($2M), Instruments ($836k), and Chemical Products ($678k).

During 2018, Hong Kong had a large net trade with Iceland in the exports of Machines ($3.78M), Plastics and Rubbers ($1.05M), and Chemical Products ($1.02M).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and Hong Kong (Flag) (2023)

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