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2023
Flag → Flag
Exports $31.5MRnk 27 / 157
2023
Flag → Flag
Top Product $8.33MAluminium Wire
2023
Flag → Flag
Exports $94.9MRnk 131 / 216
2023
Flag → Flag
Top Product $19.9MQuartz
2023
Flag
Economic Complexity (ECI) ECI 0.62Rnk 41 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$1.12TCURRENT US$
Rnk 18 / 195
2013-2023
Flag
GDP GROWTH16.8%CURRENT US$
Rnk 149 / 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$13,106CURRENT US$
Rnk 77 / 196
2013-2023
Flag
GDP PC GROWTH4.19%CURRENT US$
Rnk 147 / 195

About

Iceland-Turkey Trade: In 2023, Iceland exported $31.5M to Turkey. The main products that Iceland exported to Turkey were Aluminium Wire ($8.33M), Fish Fillets ($4.76M), and Non-fillet Frozen Fish ($4.67M). Over the past 5 years the exports of Iceland to Turkey have increased at an annualized rate of 0.58%, from $30.6M in 2018 to $31.5M in 2023.

In 2019, Iceland exported services to Turkey worth $4.48M, with Travel ($3.69M) and Transportation ($784k) being the largest in terms of value.

Turkey-Iceland Trade: In 2023, Turkey exported $94.9M to Iceland. The main products that Turkey exported to Iceland were Quartz ($19.9M), Cars ($5.79M), and Electrical Transformers ($5.3M). Over the past 5 years the exports of Turkey to Iceland have increased at an annualized rate of 9.57%,  from $60.1M in 2018 to $94.9M in 2023.

In 2023, Turkey 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, Turkey ranked 41 in the Economic Complexity Index (ECI 0.62), and 28 in total exports ($272B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $31.5M to Turkey. The main products exported from Iceland to Turkey were Aluminium Wire ($8.33M), Fish Fillets ($4.76M), and Non-fillet Frozen Fish ($4.67M). During the last 5 years the exports of Iceland to Turkey have increased at an annualized rate of 0.58%, from $30.6M in 2018 to $31.5M in 2023.

In 2018, Turkey exported $94.9M to Iceland. The main products exported from Turkey to Iceland were Quartz ($19.9M), Cars ($5.79M), and Electrical Transformers ($5.3M). During the last 5 years the exports of Turkey to Iceland have increased at an annualized rate of 9.57%, from $60.1M in 2023 to $94.9M in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Turkey (Flag)

Iceland Exports

Turkey Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Turkey
Top DestinationGermany$24.7B

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

In 2023, countries that imported more from Iceland than Turkey included Greenland ($72.3M).

In 2023, countries that imported more from Turkey than Iceland included Germany ($24.7B), United States ($15.9B), and United Arab Emirates ($14.7B).

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

Comparative Advantage Iceland - Turkey

Flow
Scale

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

During 2023, Iceland had a large net trade with Turkey in the exports of Metals ($11.2M), Animal Products ($10.3M), and Machines ($3.97M).

During 2018, Turkey had a large net trade with Iceland in the exports of Mineral Products ($23.9M), Machines ($16.8M), and Transportation ($15.9M).

Economic Complexity

Competitive Landscape

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

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

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