2022
Flag  
GDP
$522BCURRENT US$
Rnk 27 / 186
2012-2022
Flag
GDP GROWTH
99%CURRENT US$
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2022
Flag
 GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH
88.7%CURRENT US$
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2022
Flag
GDP PC 
$54,660CURRENT US$
Rnk 15 / 186
2012-2022
Flag
GDP PC GROWTH
64.9%CURRENT US$
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2022
Flag
GDP PC
$72,903CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
58.5%CURRENT US$
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About

Israel-Iceland Trade: In 2022, Israel exported $6.8M to Iceland. The main products that Israel exported to Iceland were Hair Products ($637k), Scrap Aluminium ($627k), and Magnesium ($536k). Over the past 5 years the exports of Israel to Iceland have decreased at an annualized rate of 5.79%, from $9.17M in 2017 to $6.8M in 2022.

In 2007, Israel exported services to Iceland worth $516k, with Computer and information services ($516k) being the largest in terms of value.

Iceland-Israel Trade: In 2022, Iceland exported $5.53M to Israel. The main products that Iceland exported to Israel were Processed Fish ($1.31M), Wood Pulp Lyes ($1.02M), and Knit Socks and Hosiery ($508k). Over the past 5 years the exports of Iceland to Israel have decreased at an annualized rate of 14.7%,  from $12.2M in 2017 to $5.53M in 2022.

In 2012, Iceland exported services to Israel worth $17.6M, with Services not allocated ($9.27M), Travel ($7.92M), and Royalties and license fees ($255k) being the largest in terms of value.

Comparison In 2022,  Israel ranked 20 in the Economic Complexity Index (ECI 1.23),  and 49 in total exports ($76.9B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Israel exported $6.8M to Iceland. The main products exported from Israel to Iceland were Hair Products ($637k), Scrap Aluminium ($627k), and Magnesium ($536k). During the last 5 years the exports of Israel to Iceland have decreased at an annualized rate of 5.79%, from $9.17M in 2017 to $6.8M in 2022.

In 2017, Iceland exported $5.53M to Israel. The main products exported from Iceland to Israel were Processed Fish ($1.31M), Wood Pulp Lyes ($1.02M), and Knit Socks and Hosiery ($508k). During the last 5 years the exports of Iceland to Israel have decreased at an annualized rate of 14.7%, from $12.2M in 2022 to $5.53M in 2017.

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

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

Latest Data

Trade between Israel (Flag) and Iceland (Flag)

Israel Exports

Iceland Exports

Market Competitiveness

Color
Israel
Top Destination
United States$20.3B
Iceland
Top Destination
Netherlands$1.97B

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

In 2022, countries that imported more from Israel than Iceland included United States ($20.3B), China ($5.53B), and Palestine ($4.6B).

In 2022, countries that imported more from Iceland than Israel included Norway ($459M), Denmark ($257M), and Greenland ($28.2M).

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

Comparative Advantage Israel - Iceland

Flow
Scale

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

During 2022, Israel had a large net trade with Iceland in the exports of N/A.

During 2017, Iceland had a large net trade with Israel in the exports of Foodstuffs ($1.47M), Chemical Products ($1.34M), and Animal Products ($627k).

Economic Complexity

Competitive Landscape

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

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

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