Iceland / Russia

Iceland-Russia Trade: In 2022, Iceland exported $2.2M to Russia. The main products that Iceland exported to Russia were Refrigerators ($631k), Processed Fish ($514k), and Other Edible Preparations ($357k). Over the past 5 years the exports of Iceland to Russia have decreased at an annualized rate of 52%, from $86.3M in 2017 to $2.2M in 2022.

In 2019, Iceland exported services to Russia worth $42.7M, with Travel ($25.1M), Transportation ($7.61M), and Government services, n.i.e. ($5.49M) being the largest in terms of value.

Russia-Iceland Trade: In 2022, Russia exported $28M to Iceland. The main products that Russia exported to Iceland were Raw Aluminium ($9.82M), Carbon-based Electronics ($7.91M), and Iron Ore ($2.62M). Over the past 5 years the exports of Russia to Iceland have increased at an annualized rate of 8.79%,  from $18.4M in 2017 to $28M in 2022.

In 2020, Russia exported services to Iceland worth $6.64M, with Other business services ($3.66M), Transportation ($2.05M), and Travel ($548k) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).