Singapore (SGP) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Singapore-Iceland Trade: In 2022, Singapore exported $13.8M to Iceland. The main products that Singapore exported to Iceland were Aluminium Oxide ($5.66M), Other Plastic Products ($2.17M), and Cocoa Butter ($815k). Over the past 5 years the exports of Singapore to Iceland have decreased at an annualized rate of 31.8%, from $93.4M in 2017 to $13.8M in 2022.

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

Iceland-Singapore Trade: In 2022, Iceland exported $8.22M to Singapore. The main products that Iceland exported to Singapore were Aluminium Foil ($4.14M), Gas Turbines ($1.77M), and Non-Iron and Steel Slag, Ash and Residues ($337k). Over the past 5 years the exports of Iceland to Singapore have increased at an annualized rate of 25.5%, from $2.64M in 2017 to $8.22M in 2022.

In 2019, Iceland exported services to Singapore worth $23.2M, with Travel ($15.1M), Computer and information services ($3.47M), and Transportation ($1.79M) being the largest in terms of value.

Comparison In 2022, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Singapore exported $13.8M to Iceland. The main products exported from Singapore to Iceland were Aluminium Oxide ($5.66M), Other Plastic Products ($2.17M), and Cocoa Butter ($815k). During the last 5 years the exports of Singapore to Iceland have decreased at an annualized rate of 31.8%, from $93.4M in 2017 to $13.8M in 2022.

In 2017, Iceland exported $8.22M to Singapore. The main products exported from Iceland to Singapore were Aluminium Foil ($4.14M), Gas Turbines ($1.77M), and Non-Iron and Steel Slag, Ash and Residues ($337k). During the last 5 years the exports of Iceland to Singapore have increased at an annualized rate of 25.5%, from $2.64M in 2022 to $8.22M in 2017.

Exports from Singapore () to Iceland () (2022)

Exports from Iceland () to Singapore () (2022)

Latest Data

Trade between Singapore () and Iceland ()

Singapore Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$51.6B

Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Singapore than Iceland included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

In 2022, countries that imported more from Iceland than Singapore included Denmark ($257M), Greenland ($28.2M), and Belarus ($14.9M).

Difference in imports from Iceland () and Singapore () (2022)

Comparative Advantage Singapore - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Singapore had a large net trade with Iceland in the exports of Chemical Products ($6.59M), Plastics and Rubbers ($2.31M), and Machines ($1.92M).

During 2017, Iceland had a large net trade with Singapore in the exports of Metals ($4.14M), Machines ($2.49M), and Instruments ($461k).

Bilateral Service Trade

Isl Year

In 2019, Iceland exported services to Singapore worth $23.2M, with Travel ($15.1M), Computer and information services ($3.47M), and Transportation ($1.79M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Iceland () (2022)

Exports from Iceland () to Singapore () (2022)

Latest Data

Trade between Singapore () and Iceland ()

Singapore Exports

Iceland Exports

Market Competitiveness

Difference in imports from Iceland () and Singapore () (2022)

Comparative Advantage Singapore - Iceland

Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Singapore () and Iceland () (2022)

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