2022
Flag  
GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH
88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
 GDP
$406BCURRENT US$
Rnk 37 / 186
2012-2022
Flag
GDP GROWTH
-6.57%CURRENT US$
Rnk 171 / 186
2022
Flag
GDP PC 
$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH
58.5%CURRENT US$
Rnk 29 / 186
2022
Flag
GDP PC
$6,776CURRENT US$
Rnk 95 / 186
2012-2022
Flag
GDP PC GROWTH
-17.1%CURRENT US$
Rnk 167 / 186

About

Iceland-South Africa Trade: In 2022, Iceland exported $3.56M to South Africa. The main products that Iceland exported to South Africa were Computers ($994k), Refined Petroleum ($738k), and Orthopedic Appliances ($622k). Over the past 5 years the exports of Iceland to South Africa have decreased at an annualized rate of 28%, from $18.4M in 2017 to $3.56M in 2022.

In 2019, Iceland exported services to South Africa worth $2.8M, with Travel ($2.69M) and Transportation ($112k) being the largest in terms of value.

South Africa-Iceland Trade: In 2022, South Africa exported $8.96M to Iceland. The main products that South Africa exported to Iceland were Iron Structures ($1.95M), Grapes ($1.26M), and Delivery Trucks ($1.1M). Over the past 5 years the exports of South Africa to Iceland have decreased at an annualized rate of 4.72%,  from $11.4M in 2017 to $8.96M in 2022.

In 2022, South Africa 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, South Africa ranked 59 in the Economic Complexity Index (ECI 0.076), and 34 in total exports ($147B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $3.56M to South Africa. The main products exported from Iceland to South Africa were Computers ($994k), Refined Petroleum ($738k), and Orthopedic Appliances ($622k). During the last 5 years the exports of Iceland to South Africa have decreased at an annualized rate of 28%, from $18.4M in 2017 to $3.56M in 2022.

In 2017, South Africa exported $8.96M to Iceland. The main products exported from South Africa to Iceland were Iron Structures ($1.95M), Grapes ($1.26M), and Delivery Trucks ($1.1M). During the last 5 years the exports of South Africa to Iceland have decreased at an annualized rate of 4.72%, from $11.4M in 2022 to $8.96M in 2017.

Exports from Iceland (Flag) to South Africa (Flag) (2022)

Exports from South Africa (Flag) to Iceland (Flag) (2022)

Latest Data

Trade between Iceland (Flag) and South Africa (Flag)

Iceland Exports

South Africa Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
South Africa
Top Destination
China$23.4B

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

In 2022, countries that imported more from Iceland than South Africa included Norway ($459M), Greenland ($28.2M), and Belarus ($14.9M).

In 2022, countries that imported more from South Africa than Iceland included China ($23.4B), United States ($10.9B), and Germany ($9.96B).

Difference in imports from South Africa (Flag) and Iceland (Flag) (2022)

Comparative Advantage Iceland - South Africa

Flow
Scale

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

During 2022, Iceland had a large net trade with South Africa in the exports of Machines ($1.24M), Instruments ($817k), and Mineral Products ($738k).

During 2017, South Africa had a large net trade with Iceland in the exports of Vegetable Products ($3.06M), Metals ($2.42M), and Transportation ($1.28M).

Economic Complexity

Competitive Landscape

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

Product Space of Iceland (Flag) and South Africa (Flag) (2022)

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