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2023
Flag → Flag
Exports $164MRnk 111 / 211
2023
Flag → Flag
Top Product $110MCars
2023
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Exports $184MRnk 10 / 157
2023
Flag → Flag
Top Product $62.1MFerroalloys
2023
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Economic Complexity (ECI) ECI 2.07Rnk 1 / 132
2023
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GDP$4.2TCURRENT US$
Rnk 4 / 195
2013-2023
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GDP GROWTH-19.3%CURRENT US$
Rnk 190 / 195
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 PC $33,767CURRENT US$
Rnk 38 / 195
2013-2023
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GDP PC GROWTH-17.4%CURRENT US$
Rnk 176 / 195
2023
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GDP PC$79,637CURRENT US$
Rnk 11 / 196
2013-2023
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GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195

About

Japan-Iceland Trade: In 2023, Japan exported $164M to Iceland. The main products that Japan exported to Iceland were Cars ($110M), Large Construction Vehicles ($4.34M), and Carbon-based Electronics ($4.14M). Over the past 5 years the exports of Japan to Iceland have increased at an annualized rate of 1.91%, from $149M in 2018 to $164M in 2023.

In 2023, Japan did not export any services to Iceland.

Iceland-Japan Trade: In 2023, Iceland exported $184M to Japan. The main products that Iceland exported to Japan were Ferroalloys ($62.1M), Non-fillet Frozen Fish ($62.1M), and Fish Fillets ($23.4M). Over the past 5 years the exports of Iceland to Japan have increased at an annualized rate of 3.78%,  from $153M in 2018 to $184M in 2023.

In 2019, Iceland exported services to Japan worth $78.1M, with Computer and information services ($42.4M), Travel ($18.7M), and Transportation ($9.85M) being the largest in terms of value.

Comparison In 2023,  Japan ranked 1 in the Economic Complexity Index (ECI 2.07),  and 4 in total exports ($766B). That same year, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

November, 2024

About

Overview In November 2024, Japan exported ¥732M and imported ¥1.84B from Iceland, resulting in a negative trade balance of ¥1.11B. Between November 2023 and November 2024 the exports of Japan have decreased by ¥-253M (-25.7%) from ¥985M to ¥732M, while imports increased by ¥160M (9.52%) from ¥1.68B to ¥1.84B.

Trade In November 2024, the top exports of Japan to Iceland were Cars (¥889M), Delivery Trucks (¥205M), Rubber Tires (¥38.1M), Orthopedic Appliances (¥35.7M), and Combustion Engines (¥20.6M). In November 2024 the top imports of Japan from Iceland were Ferroalloys (¥1.23B), Non-fillet Frozen Fish (¥547M), Fish Fillets (¥495M), Sheep and Goat Meat (¥107M), and Orthopedic Appliances (¥46.1M).

Origins In November 2024 the exports of Japan were mainly from Aichi (¥591M), Hyōgo (¥75.5M), Ibaraki (¥19.4M), Tokyo (¥18.3M), and Miyagi (¥12M), while imports destinations were mainly Tokyo (¥628M), Okayama (¥304M), Hyōgo (¥227M), Osaka (¥167M), and Fukuoka (¥163M).

Growth In November 2024, the decrease in Japan's year-by-year exports to Iceland was explained primarily by an decrease in product exports in Commodities not elsewhere specified (¥-11.9M or -65%), Video and Card Games (¥-628k or -75.3%), and Oscilloscopes (¥-324k or -57.1%). In November 2024, the increase in Japan's year-by-year imports  from Iceland was explained primarily by an increase in product imports  in Ferroalloys (¥693M or 130%), Fish Fillets (¥275M or 125%), and Non-fillet Frozen Fish (¥149M or 37.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)¥-253M(-25.7%)
IMPORT GROWTH (November 2023 - November 2024)¥160M(9.52%)
MAIN EXPORTER (November 2024)Aichi¥591M

This section shows exports and imports data at subnational level for Japan. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Japan over time.

To check Iceland and Japan trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Japan exported $164M to Iceland. The main products exported from Japan to Iceland were Cars ($110M), Large Construction Vehicles ($4.34M), and Carbon-based Electronics ($4.14M). During the last 5 years the exports of Japan to Iceland have increased at an annualized rate of 1.91%, from $149M in 2018 to $164M in 2023.

In 2018, Iceland exported $184M to Japan. The main products exported from Iceland to Japan were Ferroalloys ($62.1M), Non-fillet Frozen Fish ($62.1M), and Fish Fillets ($23.4M). During the last 5 years the exports of Iceland to Japan have increased at an annualized rate of 3.78%, from $153M in 2023 to $184M in 2018.

Exports from Japan (Flag) to Iceland (Flag) (2023)

Exports from Iceland (Flag) to Japan (Flag) (2023)

Market Competitiveness

Color
Japan
Top DestinationUnited States$143B
Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Japan than Iceland included United States ($143B), China ($138B), and Chinese Taipei ($43B).

In 2023, countries that imported more from Iceland than Japan included Greenland ($72.3M) and Belarus ($34.6M).

Difference in imports from Iceland (Flag) and Japan (Flag) (2023)

Comparative Advantage Japan - Iceland

Flow
Scale

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

During 2023, Japan had a large net trade with Iceland in the exports of Transportation ($120M), Machines ($25.3M), and Instruments ($4.64M).

During 2018, Iceland had a large net trade with Japan in the exports of Animal Products ($113M), Metals ($62.1M), and Machines ($2.66M).

Bilateral Service Trade

In 2019, Iceland exported services to Japan worth $78.1M, with Computer and information services ($42.4M), Travel ($18.7M), and Transportation ($9.85M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to Japan (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Japan (Flag) and Iceland (Flag) (2023)

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