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2022
Flag → Flag
Exports $429kRnk 89 / 160
2022
Flag → Flag
Top Product $229kCompasses
2022
Flag → Flag
Exports $177kRnk 142 / 168
2022
Flag → Flag
Top Product $159kFrozen Bovine Meat
2022
Flag
Economic Complexity (ECI) ECI 0.15Rnk 57 / 133
2022
Flag  
GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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 GDP$71.2BCURRENT US$
Rnk 79 / 186
2012-2022
Flag
GDP GROWTH31.2%CURRENT US$
Rnk 96 / 186
2022
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GDP PC $72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186
2022
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GDP PC$20,795CURRENT US$
Rnk 49 / 186
2012-2022
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GDP PC GROWTH29.3%CURRENT US$
Rnk 65 / 186

About

Iceland-Uruguay Trade: In 2022, Iceland exported $429k to Uruguay. The main products that Iceland exported to Uruguay were Compasses ($229k), Surveying Equipment ($129k), and X-Ray Equipment ($24.8k). Over the past 5 years the exports of Iceland to Uruguay have decreased at an annualized rate of 18.3%, from $1.18M in 2017 to $429k in 2022.

In 2019, Iceland exported services to Uruguay worth $448k, with Travel ($448k) being the largest in terms of value.

Uruguay-Iceland Trade: In 2022, Uruguay exported $177k to Iceland. The main products that Uruguay exported to Iceland were Frozen Bovine Meat ($159k), Rice ($17.4k), and Scarves ($759). Over the past 5 years the exports of Uruguay to Iceland have increased at an annualized rate of 43.5%,  from $29.2k in 2017 to $177k in 2022.

In 2022, Uruguay did not export any services to Iceland.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Uruguay ranked 57 in the Economic Complexity Index (ECI 0.15), and 98 in total exports ($12B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $429k to Uruguay. The main products exported from Iceland to Uruguay were Compasses ($229k), Surveying Equipment ($129k), and X-Ray Equipment ($24.8k). During the last 5 years the exports of Iceland to Uruguay have decreased at an annualized rate of 18.3%, from $1.18M in 2017 to $429k in 2022.

In 2017, Uruguay exported $177k to Iceland. The main products exported from Uruguay to Iceland were Frozen Bovine Meat ($159k), Rice ($17.4k), and Scarves ($759). During the last 5 years the exports of Uruguay to Iceland have increased at an annualized rate of 43.5%, from $29.2k in 2022 to $177k in 2017.

Exports from Iceland (Flag) to Uruguay (Flag) (2022)

Exports from Uruguay (Flag) to Iceland (Flag) (2022)

Latest Data

Trade between Iceland (Flag) and Uruguay (Flag)

Iceland Exports

Uruguay Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Uruguay
Top DestinationChina$2.89B

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

In 2022, countries that imported more from Iceland than Uruguay included Netherlands ($1.97B), United Kingdom ($672M), and Norway ($459M).

In 2022, countries that imported more from Uruguay than Iceland included China ($2.89B), Brazil ($1.69B), and Argentina ($999M).

Difference in imports from Uruguay (Flag) and Iceland (Flag) (2022)

Comparative Advantage Iceland - Uruguay

Flow
Scale

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

During 2022, Iceland had a large net trade with Uruguay in the exports of Instruments ($406k), Machines ($23k), and Plastics and Rubbers ($75).

During 2017, Uruguay had a large net trade with Iceland in the exports of Animal Products ($159k), Vegetable Products ($17.4k), and Textiles ($938).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and Uruguay (Flag) (2022)

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