Iceland (ISL) and United States (USA) Trade | The Observatory of Economic Complexity

About

Iceland-United States In 2022, Iceland exported $613M to United States. The main products that Iceland exported to United States are Fish Fillets ($242M), Non-fillet Fresh Fish ($73.4M), and Orthopedic Appliances ($60.8M). During the last 27 years the exports of Iceland to United States have increased at an annualized rate of 3.64%, from $234M in 1995 to $613M in 2022.

In 2019, Iceland exported services to United States worth $1.68B, with Travel ($801M), Transportation ($535M), and Other business services ($185M) being the largest in terms of value.

United States-Iceland In 2022, United States exported $404M to Iceland. The main products that United States exported to Iceland were Cars ($55.6M), Planes, Helicopters, and/or Spacecraft ($47.7M), and Refined Petroleum ($43.6M). During the last 27 years the exports of United States to Iceland have increased at an annualized rate of 3.33%, from $167M in 1995 to $404M in 2022.

In 2022, United States 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, United States ranked 10 in the Economic Complexity Index (ECI 1.41), and 2 in total exports ($1.95T).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iceland exported $613M to United States. The main products exported from Iceland to United States were Fish Fillets ($242M), Non-fillet Fresh Fish ($73.4M), and Orthopedic Appliances ($60.8M). During the last 27 years the exports of Iceland to United States have increased at an annualized rate of 3.64%, from $234M in 1995 to $613M in 2022.

In 2022, United States exported $404M to Iceland. The main products exported from United States to Iceland were Cars ($55.6M), Planes, Helicopters, and/or Spacecraft ($47.7M), and Refined Petroleum ($43.6M). During the last 27 years the exports of United States to Iceland have increased at an annualized rate of 3.33%, from $167M in 1995 to $404M in 2022.

Exports from Iceland () to United States () (2022)

Exports from United States () to Iceland () (2022)

Latest Data

Trade between Iceland () and United States ()

Iceland Exports

Date

United States Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

United States
Top DestinationCanada$308B

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

In 2021, countries that imported more from Iceland than United States were Greenland ($28.2M) and Wallis and Futuna ($3.54M).

In 2021, countries that imported more from United States than Iceland were Canada ($308B), Mexico ($294B), and China ($151B).

Difference in imports from United States () and Iceland () (2022)

Comparative Advantage Iceland - United States

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with United States in the exports of Animal Products ($346M), Instruments ($84.3M), and Foodstuffs ($41.6M).

During 2022, United States had a large net trade with Iceland in the exports of Transportation ($131M), Machines ($73.7M), and Mineral Products ($45.3M).

Service Trade

Bilateral Service Trade

Isl Year

In 2019, Iceland exported services to United States worth $1.68B, with Travel ($801M), Transportation ($535M), and Other business services ($185M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland () to United States () (2019)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Iceland has comparative advantage over United States. Similarly, the more yellow a dot/product is, the more United States has comparative advantage over Iceland.

About

Historical Data

Bilateral Trade by Products

Exports from Iceland () to United States () (2022)

Exports from United States () to Iceland () (2022)

Latest Data

Trade between Iceland () and United States ()

Iceland Exports

United States Exports

Market Competitiveness

Difference in imports from United States () and Iceland () (2022)

Comparative Advantage Iceland - United States

Service Trade

Bilateral Service Trade

Services Exports from Iceland () to United States () (2019)

Economic Complexity

Competitive Landscape

Product Space of Iceland () and United States () (2022)

Keep Exploring