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2022
Flag → Flag
Exports $7.55kRnk 10 / 0
2022
Flag → Flag
Exports $405kRnk 96 / 156
2022
Flag → Flag
Top Product $162kRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI -1.15Rnk 117 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$15.8BCURRENT US$
Rnk 134 / 195
2013-2023
Flag
GDP GROWTH27.1%CURRENT US$
Rnk 120 / 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$506CURRENT US$
Rnk 192 / 196
2013-2023
Flag
GDP PC GROWTH-1.77%CURRENT US$
Rnk 155 / 195

About

Iceland-Madagascar Trade: In 2022, Iceland exported $7.55k to Madagascar. The main products that Iceland exported to Madagascar were N/A. Over the past 5 years the exports of Iceland to Madagascar have decreased at an annualized rate of 22.9%, from $27.7k in 2017 to $7.55k in 2022.

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

Madagascar-Iceland Trade: In 2022, Madagascar exported $405k to Iceland. The main products that Madagascar exported to Iceland were Refined Petroleum ($162k), Vanilla ($65.2k), and Non-Knit Active Wear ($34.1k). Over the past 5 years the exports of Madagascar to Iceland have increased at an annualized rate of 11.8%,  from $232k in 2017 to $405k in 2022.

In 2022, Madagascar 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, Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $7.55k to Madagascar. There were not main exports from Iceland to Madagascar in 2022. During the last 5 years the exports of Iceland to Madagascar have decreased at an annualized rate of 22.9%, from $27.7k in 2017 to $7.55k in 2022.

In 2018, Madagascar exported $405k to Iceland. The main products exported from Madagascar to Iceland were Refined Petroleum ($162k), Vanilla ($65.2k), and Non-Knit Active Wear ($34.1k). During the last 5 years the exports of Madagascar to Iceland have increased at an annualized rate of 11.8%, from $232k in 2023 to $405k in 2018.

Exports from Iceland (Flag) to Madagascar (Flag) (2023)

Exports from Madagascar (Flag) to Iceland (Flag) (2023)

Latest Data

Trade between Iceland (Flag) and Madagascar (Flag)

Iceland Exports

Madagascar Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Madagascar
Top DestinationUnited States$669M

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

In 2023, countries that imported more from Iceland than Madagascar included Netherlands ($1.97B), Germany ($771M), and United Kingdom ($607M).

In 2023, countries that imported more from Madagascar than Iceland included France ($641M), South Korea ($271M), and Turkey ($209M).

Difference in imports from Madagascar (Flag) and Iceland (Flag) (2023)

Comparative Advantage Iceland - Madagascar

Flow
Scale

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

During 2022, Iceland had a large net trade with Madagascar in the exports of .

During 2018, Madagascar had a large net trade with Iceland in the exports of Mineral Products ($162k), Textiles ($111k), and Vegetable Products ($108k).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and Madagascar (Flag) (2023)

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