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2023
Flag → Flag
Exports $694MRnk 96 / 220
2023
Flag → Flag
Top Product $152MCars
2023
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Exports $735MRnk 3 / 157
2023
Flag → Flag
Top Product $261MFish Fillets
2023
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Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
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GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
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GDP GROWTH64.2%CURRENT US$
Rnk 44 / 195
2023
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 GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
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GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
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GDP PC $82,769CURRENT US$
Rnk 9 / 195
2013-2023
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GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195
2023
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GDP PC$79,637CURRENT US$
Rnk 11 / 196
2013-2023
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GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195

About

United States-Iceland Trade: In 2023, United States exported $694M to Iceland. The main products that United States exported to Iceland were Cars ($152M), Refined Petroleum ($136M), and Planes, Helicopters, and/or Spacecraft ($52.3M). Over the past 5 years the exports of United States to Iceland have increased at an annualized rate of 1.67%, from $639M in 2018 to $694M in 2023.

In 2023, United States did not export any services to Iceland.

Iceland-United States Trade: In 2023, Iceland exported $735M to United States. The main products that Iceland exported to United States were Fish Fillets ($261M), Orthopedic Appliances ($167M), and Non-fillet Fresh Fish ($46.6M). Over the past 5 years the exports of Iceland to United States have increased at an annualized rate of 10.7%,  from $443M in 2018 to $735M in 2023.

In 2019, Iceland exported services to United States worth $1.68B, with Travel ($801M), Transportation ($535M), and Other business services ($185M) being the largest in terms of value.

Comparison In 2023,  United States ranked 10 in the Economic Complexity Index (ECI 1.5),  and 2 in total exports ($1.86T). That same year, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Company data: In 2023, leading companies such as Wismettac Asian Foods (12) and Barry Callebaut (3) were at the forefront of exporting goods from Iceland to the United States. Conversely, Vignir G Jonsson Ehf (12) and Other (3) were notable for importing products to Iceland from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $178M and imported $110M from Iceland, resulting in a positive trade balance of $68M. Between November 2023 and November 2024 the exports of United States have increased by $159M (844%) from $18.9M to $178M, while imports increased by $48.9M (79.7%) from $61.3M to $110M.

Trade In November 2024, the top exports of United States to Iceland were Commodities not elsewhere specified ($4.07M), Hydrometers ($2M), Broadcasting Equipment ($619k), Packaged Medicaments ($569k), and Aircraft parts (gliders, balloons, and powered... ($481k). In November 2024 the top imports of United States from Iceland were Fish Fillets ($24.1M), Orthopedic Appliances ($12.7M), Non-fillet Fresh Fish ($5.12M), Water ($1.79M), and Ferroalloys ($1.71M).

Origins In November 2024 the exports of United States were mainly from California ($70.8M), Illinois ($45.3M), Alabama ($25.8M), Missouri ($5.09M), and North Carolina ($2.35M), while imports destinations were mainly California ($25.2M), Tennessee ($24.9M), Massachusetts ($19.1M), Pennsylvania ($15.2M), and New York ($7.52M).

Growth In November 2024, the increase in United States's year-by-year exports to Iceland was explained primarily by an increase in product exports in Hydrometers ($1.94M or 3.12k%), Commodities not elsewhere specified ($647k or 18.9%), and Packaged Medicaments ($489k or 614%). In November 2024, the increase in United States's year-by-year imports  from Iceland was explained primarily by an increase in product imports  in Orthopedic Appliances ($9.48M or 295%), Fish Fillets ($3.93M or 19.4%), and Surveying Equipment ($1.09M or 7.73k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)$159M(844%)
IMPORT GROWTH (November 2023 - November 2024)$48.9M(79.7%)
MAIN EXPORTER (November 2024)California$70.8M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Iceland and United States trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, United States exported $694M to Iceland. The main products exported from United States to Iceland were Cars ($152M), Refined Petroleum ($136M), and Planes, Helicopters, and/or Spacecraft ($52.3M). During the last 5 years the exports of United States to Iceland have increased at an annualized rate of 1.67%, from $639M in 2018 to $694M in 2023.

In 2018, Iceland exported $735M to United States. The main products exported from Iceland to United States were Fish Fillets ($261M), Orthopedic Appliances ($167M), and Non-fillet Fresh Fish ($46.6M). During the last 5 years the exports of Iceland to United States have increased at an annualized rate of 10.7%, from $443M in 2023 to $735M in 2018.

Exports from United States (Flag) to Iceland (Flag) (2023)

Exports from Iceland (Flag) to United States (Flag) (2023)

Market Competitiveness

Color
United States
Top DestinationCanada$269B
Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from United States than Iceland included Canada ($269B), Mexico ($243B), and China ($154B).

In 2023, countries that imported more from Iceland than United States included Greenland ($72.3M), Belarus ($34.6M), and Guam ($271).

Difference in imports from Iceland (Flag) and United States (Flag) (2023)

Comparative Advantage United States - Iceland

Flow
Scale

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

During 2023, United States had a large net trade with Iceland in the exports of Transportation ($244M), Mineral Products ($140M), and Machines ($123M).

During 2018, Iceland had a large net trade with United States in the exports of Animal Products ($334M), Instruments ($188M), and Foodstuffs ($60.6M).

Bilateral Service Trade

In 2019, Iceland exported services to United States worth $1.68B, with Travel ($801M), Transportation ($535M), and Other business services ($185M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to United States (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of United States (Flag) and Iceland (Flag) (2023)

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