Uruguay (URY) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Uruguay-Iceland Trade: In 2023, Uruguay exported $1.03M to Iceland. The main products that Uruguay exported to Iceland were Frozen Bovine Meat ($830k), Molluscs ($85.6k), and Plywood ($28.8k). Over the past 5 years the exports of Uruguay to Iceland have increased at an annualized rate of 81.2%, from $52.7k in 2018 to $1.03M in 2023.

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

Iceland-Uruguay Trade: In 2023, Iceland exported $995k to Uruguay. The main products that Iceland exported to Uruguay were X-Ray Equipment ($811k), Refined Petroleum ($95.2k), and Compasses ($30.9k). Over the past 5 years the exports of Iceland to Uruguay have increased at an annualized rate of 32.9%, from $240k in 2018 to $995k in 2023.

In 2019, Iceland exported services to Uruguay worth $448k, with Travel ($448k) being the largest in terms of value.

Comparison In 2023, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B). 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, Uruguay exported $1.03M to Iceland. The main products exported from Uruguay to Iceland were Frozen Bovine Meat ($830k), Molluscs ($85.6k), and Plywood ($28.8k). During the last 5 years the exports of Uruguay to Iceland have increased at an annualized rate of 81.2%, from $52.7k in 2018 to $1.03M in 2023.

In 2018, Iceland exported $995k to Uruguay. The main products exported from Iceland to Uruguay were X-Ray Equipment ($811k), Refined Petroleum ($95.2k), and Compasses ($30.9k). During the last 5 years the exports of Iceland to Uruguay have increased at an annualized rate of 32.9%, from $240k in 2023 to $995k in 2018.

Exports from Uruguay () to Iceland () (2023)

Exports from Iceland () to Uruguay () (2023)

Latest Data

Trade between Uruguay () and Iceland ()

Uruguay Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Uruguay
Top DestinationChina$2.34B

Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Uruguay than Iceland included China ($2.34B), Brazil ($1.92B), and Argentina ($569M).

In 2023, countries that imported more from Iceland than Uruguay included Netherlands ($1.97B), United Kingdom ($607M), and Germany ($771M).

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

Comparative Advantage Uruguay - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Uruguay had a large net trade with Iceland in the exports of Animal Products ($916k), Animal Hides ($52.3k), and Wood Products ($28.8k).

During 2018, Iceland had a large net trade with Uruguay in the exports of Instruments ($844k), Mineral Products ($95.2k), and Machines ($35.6k).

Bilateral Service Trade

Isl Year

In 2019, Iceland exported services to Uruguay worth $448k, with Travel ($448k) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Uruguay () to Iceland () (2023)

Exports from Iceland () to Uruguay () (2023)

Latest Data

Trade between Uruguay () and Iceland ()

Uruguay Exports

Iceland Exports

Market Competitiveness

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

Comparative Advantage Uruguay - Iceland

Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

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