Iceland / Norway

Iceland-Norway Trade: In 2022, Iceland exported $459M to Norway. The main products that Iceland exported to Norway were Animal Meal and Pellets ($172M), Fish oil ($112M), and Carbon-based Electronics ($66.3M). Over the past 5 years the exports of Iceland to Norway have increased at an annualized rate of 4.73%, from $364M in 2017 to $459M in 2022.

In 2019, Iceland exported services to Norway worth $147M, with Travel ($60.6M), Transportation ($48.5M), and Other business services ($17.9M) being the largest in terms of value.

Norway-Iceland Trade: In 2022, Norway exported $1.17B to Iceland. The main products that Norway exported to Iceland were Refined Petroleum ($670M), Carbon-based Electronics ($139M), and Animal Food ($98.2M). Over the past 5 years the exports of Norway to Iceland have increased at an annualized rate of 14.1%,  from $603M in 2017 to $1.17B in 2022.

In 2009, Norway exported services to Iceland worth $55.5M, with Transportation ($28.9M), Other business services ($9.59M), and Construction services ($5.75M) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B).