Iceland / Norway

Iceland-Norway Trade: In 2023, Iceland exported $444M to Norway. The main products that Iceland exported to Norway were Animal Meal and Pellets ($163M), Fish Oil ($124M), and Carbon-based Electronics ($66.8M). Over the past 5 years the exports of Iceland to Norway have increased at an annualized rate of 5.66%, from $337M in 2018 to $444M in 2023.

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 2023, Norway exported $1.11B to Iceland. The main products that Norway exported to Iceland were Refined Petroleum ($552M), Carbon-based Electronics ($193M), and Animal Food ($101M). Over the past 5 years the exports of Norway to Iceland have increased at an annualized rate of 4.77%,  from $878M in 2018 to $1.11B in 2023.

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 2023,  Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B).