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2023
Flag → Flag
Exports $2.45kRnk 151 / 157
2023
Flag → Flag
Top Product $2.38kFish Oil
2023
Flag → Flag
Exports $124kRnk 128 / 153
2023
Flag → Flag
Top Product $32.4kOther Oily Seeds
2023
Flag
Economic Complexity (ECI) ECI -0.42Rnk 81 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$43BCURRENT US$
Rnk 98 / 195
2013-2023
Flag
GDP GROWTH11.6%CURRENT US$
Rnk 152 / 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$6,276CURRENT US$
Rnk 111 / 196
2013-2023
Flag
GDP PC GROWTH-2.48%CURRENT US$
Rnk 157 / 195

About

Iceland-Paraguay Trade: In 2023, Iceland exported $2.45k to Paraguay. The main products that Iceland exported to Paraguay were Fish Oil ($2.38k), Other Rubber Products ($39), and Other Electrical Machinery ($26). Over the past 5 years the exports of Iceland to Paraguay have decreased at an annualized rate of 43.7%, from $43.4k in 2018 to $2.45k in 2023.

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

Paraguay-Iceland Trade: In 2023, Paraguay exported $124k to Iceland. The main products that Paraguay exported to Iceland were Other Oily Seeds ($32.4k), Raw Sugar ($31.5k), and Buckwheat ($23.5k). Over the past 5 years the exports of Paraguay to Iceland have increased at an annualized rate of 20.6%,  from $48.5k in 2018 to $124k in 2023.

In 2023, Paraguay 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, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $2.45k to Paraguay. The main products exported from Iceland to Paraguay were Fish Oil ($2.38k), Other Rubber Products ($39), and Other Electrical Machinery ($26). During the last 5 years the exports of Iceland to Paraguay have decreased at an annualized rate of 43.7%, from $43.4k in 2018 to $2.45k in 2023.

In 2018, Paraguay exported $124k to Iceland. The main products exported from Paraguay to Iceland were Other Oily Seeds ($32.4k), Raw Sugar ($31.5k), and Buckwheat ($23.5k). During the last 5 years the exports of Paraguay to Iceland have increased at an annualized rate of 20.6%, from $48.5k in 2023 to $124k in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Paraguay (Flag)

Iceland Exports

Paraguay Exports

Date

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Paraguay
Top DestinationArgentina$4B

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

In 2023, countries that imported more from Iceland than Paraguay included Netherlands ($1.97B), Germany ($771M), and Norway ($444M).

In 2023, countries that imported more from Paraguay than Iceland included Argentina ($4B), Brazil ($3B), and Chile ($1.26B).

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

Comparative Advantage Iceland - Paraguay

Flow
Scale

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

During 2023, Iceland had a large net trade with Paraguay in the exports of Animal and Vegetable Bi-Products ($2.38k), Plastics and Rubbers ($39), and Machines ($26).

During 2018, Paraguay had a large net trade with Iceland in the exports of Vegetable Products ($88.2k), Foodstuffs ($31.5k), and Plastics and Rubbers ($2.42k).

Economic Complexity

Competitive Landscape

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

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

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