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2023
Flag → Flag
Exports $3.58MRnk 58 / 157
2023
Flag → Flag
Top Product $3.14MOther Sea Vessels
2023
Flag → Flag
Exports $29.7kRnk 159 / 171
2023
Flag → Flag
Top Product $26.6kRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI -0.32Rnk 76 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$109BCURRENT US$
Rnk 66 / 195
2013-2023
Flag
GDP GROWTH21%CURRENT US$
Rnk 138 / 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$21,550CURRENT US$
Rnk 62 / 196
2013-2023
Flag
GDP PC GROWTH-8.13%CURRENT US$
Rnk 164 / 195

About

Iceland-Oman Trade: In 2023, Iceland exported $3.58M to Oman. The main products that Iceland exported to Oman were Other Sea Vessels ($3.14M), Electric Batteries ($337k), and Other Measuring Instruments ($15.2k). Over the past 5 years the exports of Iceland to Oman have increased at an annualized rate of 295%, from $3.71k in 2018 to $3.58M in 2023.

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

Oman-Iceland Trade: In 2023, Oman exported $29.7k to Iceland. The main products that Oman exported to Iceland were Refined Petroleum ($26.6k), Electric Batteries ($1.56k), and Navigation Equipment ($1.02k). Over the past 5 years the exports of Oman to Iceland have increased at an annualized rate of 23.8%,  from $10.2k in 2018 to $29.7k in 2023.

In 2023, Oman 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, Oman ranked 76 in the Economic Complexity Index (ECI -0.32), and 48 in total exports ($70.5B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $3.58M to Oman. The main products exported from Iceland to Oman were Other Sea Vessels ($3.14M), Electric Batteries ($337k), and Other Measuring Instruments ($15.2k). During the last 5 years the exports of Iceland to Oman have increased at an annualized rate of 295%, from $3.71k in 2018 to $3.58M in 2023.

In 2018, Oman exported $29.7k to Iceland. The main products exported from Oman to Iceland were Refined Petroleum ($26.6k), Electric Batteries ($1.56k), and Navigation Equipment ($1.02k). During the last 5 years the exports of Oman to Iceland have increased at an annualized rate of 23.8%, from $10.2k in 2023 to $29.7k in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Oman (Flag)

Iceland Exports

Oman Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Oman
Top DestinationChina$30.2B

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

In 2023, countries that imported more from Iceland than Oman included Netherlands ($1.97B), Norway ($444M), and United Kingdom ($607M).

In 2023, countries that imported more from Oman than Iceland included China ($30.2B), India ($4.5B), and Saudi Arabia ($3.64B).

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

Comparative Advantage Iceland - Oman

Flow
Scale

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

During 2023, Iceland had a large net trade with Oman in the exports of Transportation ($3.14M), Machines ($368k), and Instruments ($49.1k).

During 2018, Oman had a large net trade with Iceland in the exports of Mineral Products ($26.6k), Machines ($2.58k), and Chemical Products ($290).

Economic Complexity

Competitive Landscape

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

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

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