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2023
Flag → Flag
Exports $1.09kRnk 154 / 157
2023
Flag → Flag
Top Product $718Baked Goods
2023
Flag → Flag
Exports $3.07kRnk 109 / 126
2023
Flag → Flag
Top Product $948Seats
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$12.7BCURRENT US$
Rnk 143 / 195
2013-2023
Flag
GDP GROWTH58.3%CURRENT US$
Rnk 58 / 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$602CURRENT US$
Rnk 190 / 196
2013-2023
Flag
GDP PC GROWTH21.2%CURRENT US$
Rnk 101 / 195

About

Iceland-Malawi Trade: In 2023, Iceland exported $1.09k to Malawi. The main products that Iceland exported to Malawi were Baked Goods ($718) and Other Fruits ($374). Over the past 5 years the exports of Iceland to Malawi have decreased at an annualized rate of 53%, from $47.8k in 2018 to $1.09k in 2023.

In 2023, Iceland did not export any services to Malawi.

Malawi-Iceland Trade: In 2023, Malawi exported $3.07k to Iceland. The main products that Malawi exported to Iceland were Seats ($948), Office Machine Parts ($857), and Imitation Jewellery ($551). Over the past 5 years the exports of Malawi to Iceland have decreased at an annualized rate of 31.6%,  from $20.5k in 2018 to $3.07k in 2023.

In 2023, Malawi did not export any services to Iceland.

Comparison In 2023,  Iceland ranked 115 in total exports ($7.31B). That same year, Malawi ranked 163 in total exports ($922M). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $1.09k to Malawi. The main products exported from Iceland to Malawi were Baked Goods ($718) and Other Fruits ($374). During the last 5 years the exports of Iceland to Malawi have decreased at an annualized rate of 53%, from $47.8k in 2018 to $1.09k in 2023.

In 2018, Malawi exported $3.07k to Iceland. The main products exported from Malawi to Iceland were Seats ($948), Office Machine Parts ($857), and Imitation Jewellery ($551). During the last 5 years the exports of Malawi to Iceland have decreased at an annualized rate of 31.6%, from $20.5k in 2023 to $3.07k in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Malawi (Flag)

Iceland Exports

Date

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Malawi
Top DestinationGermany$99.1M

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

In 2023, countries that imported more from Iceland than Malawi included Netherlands ($1.97B), United States ($735M), and Germany ($771M).

In 2023, countries that imported more from Malawi than Iceland included India ($67.2M), Zimbabwe ($52.4M), and South Africa ($48.2M).

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

Comparative Advantage Iceland - Malawi

Flow
Scale

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

During 2023, Iceland had a large net trade with Malawi in the exports of Foodstuffs ($718) and Vegetable Products ($374).

During 2018, Malawi had a large net trade with Iceland in the exports of Miscellaneous ($948), Machines ($857), and Vegetable Products ($638).

Economic Complexity

Competitive Landscape

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

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

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