Romania (ROU) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Romania-Iceland Trade: In 2023, Romania exported $39M to Iceland. The main products that Romania exported to Iceland were Cars ($19.8M), Rolled Tobacco ($1.08M), and Buses ($1.02M). Over the past 5 years the exports of Romania to Iceland have increased at an annualized rate of 11.8%, from $22.3M in 2018 to $39M in 2023.

In 2020, Romania exported services to Iceland worth $10.6M, with Other business services ($7.77M), Travel ($1.94M), and Computer and information services ($685k) being the largest in terms of value.

Iceland-Romania Trade: In 2023, Iceland exported $1.57M to Romania. The main products that Iceland exported to Romania were Fish Oil ($375k), Fish Fillets ($261k), and Other Edible Preparations ($228k). Over the past 5 years the exports of Iceland to Romania have increased at an annualized rate of 1.67%, from $1.45M in 2018 to $1.57M in 2023.

In 2019, Iceland exported services to Romania worth $5.71M, with Travel ($5.49M) and Transportation ($224k) being the largest in terms of value.

Comparison In 2023, Romania ranked 28 in the Economic Complexity Index (ECI 1.02), and 41 in total exports ($104B). 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, Romania exported $39M to Iceland. The main products exported from Romania to Iceland were Cars ($19.8M), Rolled Tobacco ($1.08M), and Buses ($1.02M). During the last 5 years the exports of Romania to Iceland have increased at an annualized rate of 11.8%, from $22.3M in 2018 to $39M in 2023.

In 2018, Iceland exported $1.57M to Romania. The main products exported from Iceland to Romania were Fish Oil ($375k), Fish Fillets ($261k), and Other Edible Preparations ($228k). During the last 5 years the exports of Iceland to Romania have increased at an annualized rate of 1.67%, from $1.45M in 2023 to $1.57M in 2018.

Exports from Romania () to Iceland () (2023)

Exports from Iceland () to Romania () (2023)

Latest Data

Trade between Romania () and Iceland ()

Romania Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Romania
Top DestinationGermany$19.9B

Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Romania than Iceland included Germany ($19.9B), Italy ($10.2B), and France ($6.5B).

In 2023, countries that imported more from Iceland than Romania included Greenland ($72.3M), Nigeria ($73.5M), and Bahamas ($25M).

Difference in imports from Iceland () and Romania () (2023)

Comparative Advantage Romania - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Romania had a large net trade with Iceland in the exports of Transportation ($21.3M), Machines ($6.62M), and Textiles ($2.53M).

During 2018, Iceland had a large net trade with Romania in the exports of Animal and Vegetable Bi-Products ($375k), Foodstuffs ($355k), and Animal Products ($345k).

Bilateral Service Trade

Isl Year

Rou Year

In 2020, Romania exported services to Iceland worth $10.6M, with Other business services ($7.77M), Travel ($1.94M), and Computer and information services ($685k) being the largest in terms of value.

In 2019, Iceland exported services to Romania worth $5.71M, with Travel ($5.49M) and Transportation ($224k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Romania () to Iceland () (2020)

Services Exports from Iceland () to Romania () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Romania () to Iceland () (2023)

Exports from Iceland () to Romania () (2023)

Latest Data

Trade between Romania () and Iceland ()

Romania Exports

Iceland Exports

Market Competitiveness

Difference in imports from Iceland () and Romania () (2023)

Comparative Advantage Romania - Iceland

Bilateral Service Trade

Services Exports from Romania () to Iceland () (2020)

Services Exports from Iceland () to Romania () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Romania () and Iceland () (2023)

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