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2022
Flag → Flag
Exports $613MRnk 3 / 160
2022
Flag → Flag
Top Product $242MFish Fillets
2022
Flag → Flag
Exports $404MRnk 108 / 219
2022
Flag → Flag
Top Product $55.6MCars
2022
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Economic Complexity (ECI) ECI 1.47Rnk 10 / 133
2022
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GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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 GDP$25.5TCURRENT US$
Rnk 1 / 186
2012-2022
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GDP GROWTH56.7%CURRENT US$
Rnk 45 / 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$76,399CURRENT US$
Rnk 8 / 186
2012-2022
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GDP PC GROWTH47.5%CURRENT US$
Rnk 39 / 186

About

Iceland-United States Trade: In 2022, Iceland exported $613M to United States. The main products that Iceland exported to United States were Fish Fillets ($242M), Non-fillet Fresh Fish ($73.4M), and Orthopedic Appliances ($60.8M). Over the past 5 years the exports of Iceland to United States have increased at an annualized rate of 10.3%, from $375M in 2017 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 Trade: 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). Over the past 5 years the exports of United States to Iceland have increased at an annualized rate of 0.98%,  from $363M in 2017 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 1.47), and 2 in total exports ($1.95T).

Historical Data

Bilateral Trade by Products

Depth
Value

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 5 years the exports of Iceland to United States have increased at an annualized rate of 10.3%, from $375M in 2017 to $613M in 2022.

In 2017, 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 5 years the exports of United States to Iceland have increased at an annualized rate of 0.98%, from $363M in 2022 to $404M in 2017.

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

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

Latest Data

Trade between Iceland (Flag) and United States (Flag)

Iceland Exports

United States Exports

Market Competitiveness

Color
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 2022, countries that imported more from Iceland than United States included Greenland ($28.2M) and Wallis and Futuna ($3.54M).

In 2022, countries that imported more from United States than Iceland included Canada ($308B), Mexico ($294B), and China ($151B).

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

Comparative Advantage Iceland - United States

Flow
Scale

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 2017, United States had a large net trade with Iceland in the exports of Transportation ($131M), Machines ($73.7M), and Mineral Products ($45.3M).

Economic Complexity

Competitive Landscape

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

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

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