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2023
Flag → Flag
Exports $3.02kRnk 149 / 157
2023
Flag → Flag
Top Product $2kMedical Instruments
2023
Flag → Flag
Exports $373kRnk 117 / 163
2023
Flag → Flag
Top Product $286kRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI -1.13Rnk 116 / 132
2023
Flag  
GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
 GDP$79.1BCURRENT US$
Rnk 79 / 195
2013-2023
Flag
GDP GROWTH73.2%CURRENT US$
Rnk 37 / 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$1,224CURRENT US$
Rnk 174 / 196
2013-2023
Flag
GDP PC GROWTH27.1%CURRENT US$
Rnk 83 / 195

About

Iceland-Tanzania Trade: In 2023, Iceland exported $3.02k to Tanzania. The main products that Iceland exported to Tanzania were Medical Instruments ($2k), Valves ($919), and Plastic Lids ($87). Over the past 5 years the exports of Iceland to Tanzania have decreased at an annualized rate of 24.3%, from $12.2k in 2018 to $3.02k in 2023.

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

Tanzania-Iceland Trade: In 2023, Tanzania exported $373k to Iceland. The main products that Tanzania exported to Iceland were Refined Petroleum ($286k), Tropical Fruits ($39.7k), and Pitted Fruits ($25.3k). Over the past 5 years the exports of Tanzania to Iceland have increased at an annualized rate of 101%,  from $11.4k in 2018 to $373k in 2023.

In 2023, Tanzania 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, Tanzania ranked 116 in the Economic Complexity Index (ECI -1.13), and 99 in total exports ($11.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $3.02k to Tanzania. The main products exported from Iceland to Tanzania were Medical Instruments ($2k), Valves ($919), and Plastic Lids ($87). During the last 5 years the exports of Iceland to Tanzania have decreased at an annualized rate of 24.3%, from $12.2k in 2018 to $3.02k in 2023.

In 2018, Tanzania exported $373k to Iceland. The main products exported from Tanzania to Iceland were Refined Petroleum ($286k), Tropical Fruits ($39.7k), and Pitted Fruits ($25.3k). During the last 5 years the exports of Tanzania to Iceland have increased at an annualized rate of 101%, from $11.4k in 2023 to $373k in 2018.

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

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

Latest Data

Trade between Iceland (Flag) and Tanzania (Flag)

Iceland Exports

Tanzania Exports

Date

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Tanzania
Top DestinationIndia$1.74B

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

In 2023, countries that imported more from Iceland than Tanzania included Netherlands ($1.97B), Germany ($771M), and United Kingdom ($607M).

In 2023, countries that imported more from Tanzania than Iceland included India ($1.74B), United Arab Emirates ($1.62B), and Uganda ($1.35B).

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

Comparative Advantage Iceland - Tanzania

Flow
Scale

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

During 2023, Iceland had a large net trade with Tanzania in the exports of Instruments ($2k), Machines ($919), and Plastics and Rubbers ($87).

During 2018, Tanzania had a large net trade with Iceland in the exports of Mineral Products ($286k), Vegetable Products ($86.2k), and Textiles ($342).

Economic Complexity

Competitive Landscape

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

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

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