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2023
Flag → Flag
Exports $825kRnk 81 / 157
2023
Flag → Flag
Top Product $293kFish Oil
2023
Flag → Flag
Exports $33.1MRnk 130 / 221
2023
Flag → Flag
Top Product $12MHydrometers
2023
Flag
Economic Complexity (ECI) ECI 1.04Rnk 27 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
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 GDP$400BCURRENT US$
Rnk 37 / 195
2013-2023
Flag
GDP GROWTH23.6%CURRENT US$
Rnk 130 / 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$11,379CURRENT US$
Rnk 85 / 196
2013-2023
Flag
GDP PC GROWTH6.21%CURRENT US$
Rnk 145 / 195

About

Iceland-Malaysia Trade: In 2023, Iceland exported $825k to Malaysia. The main products that Iceland exported to Malaysia were Fish Oil ($293k), Processed Crustaceans ($191k), and Medical Instruments ($101k). Over the past 5 years the exports of Iceland to Malaysia have increased at an annualized rate of 15.2%, from $406k in 2018 to $825k in 2023.

In 2019, Iceland exported services to Malaysia worth $7.28M, with Travel ($6.94M) and Transportation ($336k) being the largest in terms of value.

Malaysia-Iceland Trade: In 2023, Malaysia exported $33.1M to Iceland. The main products that Malaysia exported to Iceland were Hydrometers ($12M), Computers ($4.16M), and Broadcasting Equipment ($3.82M). Over the past 5 years the exports of Malaysia to Iceland have increased at an annualized rate of 23.4%,  from $11.6M in 2018 to $33.1M in 2023.

In 2023, Malaysia 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, Malaysia ranked 27 in the Economic Complexity Index (ECI 1.04), and 19 in total exports ($383B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $825k to Malaysia. The main products exported from Iceland to Malaysia were Fish Oil ($293k), Processed Crustaceans ($191k), and Medical Instruments ($101k). During the last 5 years the exports of Iceland to Malaysia have increased at an annualized rate of 15.2%, from $406k in 2018 to $825k in 2023.

In 2018, Malaysia exported $33.1M to Iceland. The main products exported from Malaysia to Iceland were Hydrometers ($12M), Computers ($4.16M), and Broadcasting Equipment ($3.82M). During the last 5 years the exports of Malaysia to Iceland have increased at an annualized rate of 23.4%, from $11.6M in 2023 to $33.1M in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Malaysia (Flag)

Iceland Exports

Malaysia Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Malaysia
Top DestinationChina$79.8B

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

In 2023, countries that imported more from Iceland than Malaysia included Greenland ($72.3M), Bahamas ($25M), and Antigua and Barbuda ($9.7M).

In 2023, countries that imported more from Malaysia than Iceland included China ($79.8B), Singapore ($47.3B), and United States ($44.9B).

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

Comparative Advantage Iceland - Malaysia

Flow
Scale

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

During 2023, Iceland had a large net trade with Malaysia in the exports of Animal and Vegetable Bi-Products ($317k), Foodstuffs ($214k), and Instruments ($204k).

During 2018, Malaysia had a large net trade with Iceland in the exports of Machines ($14.3M), Instruments ($13M), and Plastics and Rubbers ($3.54M).

Economic Complexity

Competitive Landscape

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

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

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