Bermuda (BMU) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Bermuda-Iceland Trade: In 2022, Bermuda exported $22k to Iceland. The main products that Bermuda exported to Iceland were Refined Petroleum ($21.7k), Perfumes ($199), and Brochures ($64). Over the past 5 years the exports of Bermuda to Iceland have increased at an annualized rate of 45.9%, from $3.33k in 2017 to $22k in 2022.

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

Iceland-Bermuda Trade: In 2022, Iceland exported $980k to Bermuda. The main products that Iceland exported to Bermuda were Refined Petroleum ($660k), Water ($269k), and Other Construction Vehicles ($34.1k). Over the past 5 years the exports of Iceland to Bermuda have increased at an annualized rate of 5.77%, from $741k in 2017 to $980k in 2022.

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

Comparison In 2022, Bermuda ranked 199 in total exports ($68.1M). That same year, Iceland ranked 116 in total exports ($7.31B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Bermuda exported $22k to Iceland. The main products exported from Bermuda to Iceland were Refined Petroleum ($21.7k), Perfumes ($199), and Brochures ($64). During the last 5 years the exports of Bermuda to Iceland have increased at an annualized rate of 45.9%, from $3.33k in 2017 to $22k in 2022.

In 2017, Iceland exported $980k to Bermuda. The main products exported from Iceland to Bermuda were Refined Petroleum ($660k), Water ($269k), and Other Construction Vehicles ($34.1k). During the last 5 years the exports of Iceland to Bermuda have increased at an annualized rate of 5.77%, from $741k in 2022 to $980k in 2017.

Exports from Bermuda () to Iceland () (2022)

Exports from Iceland () to Bermuda () (2022)

Latest Data

Trade between Bermuda () and Iceland ()

Bermuda Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bermuda
Top DestinationZambia$17.5M

Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Bermuda than Iceland included Zambia ($17.5M), Angola ($7.13M), and Tanzania ($5.76M).

In 2022, countries that imported more from Iceland than Bermuda included Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

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

Comparative Advantage Bermuda - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Bermuda had a large net trade with Iceland in the exports of Mineral Products ($21.7k), Chemical Products ($199), and Paper Goods ($64).

During 2017, Iceland had a large net trade with Bermuda in the exports of Mineral Products ($660k), Foodstuffs ($279k), and Machines ($34.1k).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Bermuda () to Iceland () (2022)

Exports from Iceland () to Bermuda () (2022)

Latest Data

Trade between Bermuda () and Iceland ()

Bermuda Exports

Iceland Exports

Market Competitiveness

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

Comparative Advantage Bermuda - Iceland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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