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2023
Flag → Flag
Exports $735MRnk 3 / 157
2023
Flag → Flag
Top Product $261MFish Fillets
2023
Flag → Flag
Exports $694MRnk 96 / 220
2023
Flag → Flag
Top Product $152MCars
2023
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Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
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GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
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GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
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 GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
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GDP GROWTH64.2%CURRENT US$
Rnk 44 / 195
2023
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GDP PC $79,637CURRENT US$
Rnk 11 / 195
2013-2023
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GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195
2023
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GDP PC$82,769CURRENT US$
Rnk 9 / 196
2013-2023
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GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195

About

Iceland-United States Trade: In 2023, Iceland exported $735M to United States. The main products that Iceland exported to United States were Fish Fillets ($261M), Orthopedic Appliances ($167M), and Non-fillet Fresh Fish ($46.6M). Over the past 5 years the exports of Iceland to United States have increased at an annualized rate of 10.7%, from $443M in 2018 to $735M in 2023.

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 2023, United States exported $694M to Iceland. The main products that United States exported to Iceland were Cars ($152M), Refined Petroleum ($136M), and Planes, Helicopters, and/or Spacecraft ($52.3M). Over the past 5 years the exports of United States to Iceland have increased at an annualized rate of 1.67%,  from $639M in 2018 to $694M in 2023.

In 2023, United States 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, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Iceland exported $735M to United States. The main products exported from Iceland to United States were Fish Fillets ($261M), Orthopedic Appliances ($167M), and Non-fillet Fresh Fish ($46.6M). During the last 5 years the exports of Iceland to United States have increased at an annualized rate of 10.7%, from $443M in 2018 to $735M in 2023.

In 2018, United States exported $694M to Iceland. The main products exported from United States to Iceland were Cars ($152M), Refined Petroleum ($136M), and Planes, Helicopters, and/or Spacecraft ($52.3M). During the last 5 years the exports of United States to Iceland have increased at an annualized rate of 1.67%, from $639M in 2023 to $694M in 2018.

Exports from Iceland (Flag) to United States (Flag) (2023)

Exports from United States (Flag) to Iceland (Flag) (2023)

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$269B

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 2023, countries that imported more from Iceland than United States included Greenland ($72.3M), Belarus ($34.6M), and Guam ($271).

In 2023, countries that imported more from United States than Iceland included Canada ($269B), Mexico ($243B), and China ($154B).

Difference in imports from United States (Flag) and Iceland (Flag) (2023)

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 2023, Iceland had a large net trade with United States in the exports of Animal Products ($334M), Instruments ($188M), and Foodstuffs ($60.6M).

During 2018, United States had a large net trade with Iceland in the exports of Transportation ($244M), Mineral Products ($140M), and Machines ($123M).

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) (2023)

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