2022
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GDP
$6.1BCURRENT US$
Rnk 151 / 186
2012-2022
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GDP GROWTH
49.1%CURRENT US$
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2022
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 GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH
88.7%CURRENT US$
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2022
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GDP PC 
$9,894CURRENT US$
Rnk 79 / 186
2012-2022
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GDP PC GROWTH
50.2%CURRENT US$
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2022
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GDP PC
$72,903CURRENT US$
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2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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About

Montenegro-Iceland In 2022, Montenegro exported $4.59k to Iceland. The main products that Montenegro exported to Iceland are Hard Liquor ($1.05k), Textile Footwear ($1.05k), and Transmissions ($868). During the last 14 years the exports of Montenegro to Iceland have decreased at an annualized rate of 13.2%, from $33.2k in 2008 to $4.59k in 2022.

In 2022, Montenegro did not export any services to Iceland.

Iceland-Montenegro In 2022, Iceland exported $130k to Montenegro. The main products that Iceland exported to Montenegro were Non-fillet Frozen Fish ($62.6k), Fish Fillets ($47.4k), and Processed Fish ($8.78k). During the last 14 years the exports of Iceland to Montenegro have increased at an annualized rate of 14.7%, from $19k in 2008 to $130k in 2022.

In 2022, Iceland did not export any services to Montenegro.

Comparison In 2022,  Montenegro ranked 154 in total exports ($1.32B). That same year, Iceland ranked 116 in total exports ($7.31B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Montenegro exported $4.59k to Iceland. The main products exported from Montenegro to Iceland were Hard Liquor ($1.05k), Textile Footwear ($1.05k), and Transmissions ($868). During the last 14 years the exports of Montenegro to Iceland have decreased at an annualized rate of 13.2%, from $33.2k in 2008 to $4.59k in 2022.

In 2022, Iceland exported $130k to Montenegro. The main products exported from Iceland to Montenegro were Non-fillet Frozen Fish ($62.6k), Fish Fillets ($47.4k), and Processed Fish ($8.78k). During the last 16 years the exports of Iceland to Montenegro have increased at an annualized rate of 14.7%, from $19k in 2006 to $130k in 2022.

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

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

Latest Data

Trade between Montenegro (Flag) and Iceland (Flag)

Montenegro Exports

Date

Iceland Exports

Market Competitiveness

Color
Montenegro
Top Destination
South Korea$321M
Iceland
Top Destination
Netherlands$1.97B

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

In 2021, countries that imported more from Montenegro than Iceland were South Korea ($321M), Serbia ($159M), and Bosnia and Herzegovina ($95.5M).

In 2021, countries that imported more from Iceland than Montenegro were Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

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

Comparative Advantage Montenegro - Iceland

Flow
Scale

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

During 2022, Montenegro had a large net trade with Iceland in the exports of Foodstuffs ($1.05k), Footwear and Headwear ($1.05k), and Machines ($868).

During 2022, Iceland had a large net trade with Montenegro in the exports of Animal Products ($110k), Foodstuffs ($15.7k), and Machines ($2.52k).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Montenegro has comparative advantage over Iceland. Similarly, the more yellow a dot/product is, the more Iceland has comparative advantage over Montenegro.

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

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