Thailand (THA) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Thailand-Iceland Trade: In 2023, Thailand exported $33.5M to Iceland. The main products that Thailand exported to Iceland were Office Machine Parts ($3.19M), Pasta ($1.81M), and Computers ($1.72M). Over the past 5 years the exports of Thailand to Iceland have increased at an annualized rate of 5.92%, from $25.1M in 2018 to $33.5M in 2023.

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

Iceland-Thailand Trade: In 2023, Iceland exported $12.7M to Thailand. The main products that Iceland exported to Thailand were Non-fillet Frozen Fish ($8.71M), Fish Oil ($770k), and Machinery Having Individual Functions ($677k). Over the past 5 years the exports of Iceland to Thailand have decreased at an annualized rate of 6.24%, from $24.1M in 2018 to $12.7M in 2023.

In 2019, Iceland exported services to Thailand worth $12.8M, with Travel ($10.5M), Transportation ($1.23M), and Royalties and license fees ($560k) being the largest in terms of value.

Comparison In 2023, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). 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, Thailand exported $33.5M to Iceland. The main products exported from Thailand to Iceland were Office Machine Parts ($3.19M), Pasta ($1.81M), and Computers ($1.72M). During the last 5 years the exports of Thailand to Iceland have increased at an annualized rate of 5.92%, from $25.1M in 2018 to $33.5M in 2023.

In 2018, Iceland exported $12.7M to Thailand. The main products exported from Iceland to Thailand were Non-fillet Frozen Fish ($8.71M), Fish Oil ($770k), and Machinery Having Individual Functions ($677k). During the last 5 years the exports of Iceland to Thailand have decreased at an annualized rate of 6.24%, from $24.1M in 2023 to $12.7M in 2018.

Exports from Thailand () to Iceland () (2023)

Exports from Iceland () to Thailand () (2023)

Latest Data

Trade between Thailand () and Iceland ()

Thailand Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$58.5B

Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Thailand than Iceland included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

In 2023, countries that imported more from Iceland than Thailand included Greenland ($72.3M), Belarus ($34.6M), and Bahamas ($25M).

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

Comparative Advantage Thailand - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Thailand had a large net trade with Iceland in the exports of Machines ($10.6M), Foodstuffs ($7.42M), and Transportation ($2.43M).

During 2018, Iceland had a large net trade with Thailand in the exports of Animal Products ($8.8M), Machines ($2.18M), and Animal and Vegetable Bi-Products ($770k).

Bilateral Service Trade

Isl Year

In 2019, Iceland exported services to Thailand worth $12.8M, with Travel ($10.5M), Transportation ($1.23M), and Royalties and license fees ($560k) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Thailand () to Iceland () (2023)

Exports from Iceland () to Thailand () (2023)

Latest Data

Trade between Thailand () and Iceland ()

Thailand Exports

Iceland Exports

Market Competitiveness

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

Comparative Advantage Thailand - Iceland

Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

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