New Zealand (NZL) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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New Zealand-Iceland Trade: In 2023, New Zealand exported $4.89M to Iceland. The main products that New Zealand exported to Iceland were Frozen Bovine Meat ($1.18M), Audio Alarms ($443k), and Lifting Machinery ($409k). Over the past 5 years the exports of New Zealand to Iceland have decreased at an annualized rate of 2.81%, from $5.64M in 2018 to $4.89M in 2023.

In 2023, New Zealand did not export any services to Iceland.

Iceland-New Zealand Trade: In 2023, Iceland exported $2.92M to New Zealand. The main products that Iceland exported to New Zealand were Orthopedic Appliances ($815k), Medical Instruments ($299k), and Other Sugars ($279k). Over the past 5 years the exports of Iceland to New Zealand have increased at an annualized rate of 13.2%, from $1.23M in 2018 to $2.92M in 2023.

In 2019, Iceland exported services to New Zealand worth $7.84M, with Travel ($3.81M), Other business services ($1.79M), and Computer and information services ($1.57M) being the largest in terms of value.

Comparison In 2023, New Zealand ranked 43 in the Economic Complexity Index (ECI 0.48), and 61 in total exports ($44.5B). That same year, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, New Zealand exported $4.89M to Iceland. The main products exported from New Zealand to Iceland were Frozen Bovine Meat ($1.18M), Audio Alarms ($443k), and Lifting Machinery ($409k). During the last 5 years the exports of New Zealand to Iceland have decreased at an annualized rate of 2.81%, from $5.64M in 2018 to $4.89M in 2023.

In 2018, Iceland exported $2.92M to New Zealand. The main products exported from Iceland to New Zealand were Orthopedic Appliances ($815k), Medical Instruments ($299k), and Other Sugars ($279k). During the last 5 years the exports of Iceland to New Zealand have increased at an annualized rate of 13.2%, from $1.23M in 2023 to $2.92M in 2018.

Exports from New Zealand () to Iceland () (2023)

Exports from Iceland () to New Zealand () (2023)

Latest Data

Trade between New Zealand () and Iceland ()

New Zealand Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

New Zealand
Top DestinationChina$12.3B

Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from New Zealand than Iceland included China ($12.3B), Australia ($5.2B), and United States ($5.42B).

In 2023, countries that imported more from Iceland than New Zealand included Netherlands ($1.97B), Norway ($444M), and Poland ($298M).

Difference in imports from Iceland () and New Zealand () (2023)

Comparative Advantage New Zealand - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, New Zealand had a large net trade with Iceland in the exports of Machines ($1.58M), Animal Products ($1.35M), and Textiles ($461k).

During 2018, Iceland had a large net trade with New Zealand in the exports of Instruments ($1.49M), Machines ($607k), and Foodstuffs ($340k).

Bilateral Service Trade

Isl Year

In 2019, Iceland exported services to New Zealand worth $7.84M, with Travel ($3.81M), Other business services ($1.79M), and Computer and information services ($1.57M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland () to New Zealand () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from New Zealand () to Iceland () (2023)

Exports from Iceland () to New Zealand () (2023)

Latest Data

Trade between New Zealand () and Iceland ()

New Zealand Exports

Iceland Exports

Market Competitiveness

Difference in imports from Iceland () and New Zealand () (2023)

Comparative Advantage New Zealand - Iceland

Bilateral Service Trade

Services Exports from Iceland () to New Zealand () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of New Zealand () and Iceland () (2023)

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