Iceland (ISL) and Turkey (TUR) Trade | The Observatory of Economic Complexity

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Iceland-Turkey Trade: In 2022, Iceland exported $34.5M to Turkey. The main products that Iceland exported to Turkey were Fish Fillets ($10.7M), Aluminium Wire ($10.7M), and Non-fillet Frozen Fish ($5.57M). Over the past 5 years the exports of Iceland to Turkey have increased at an annualized rate of 2.35%, from $30.7M in 2017 to $34.5M in 2022.

In 2019, Iceland exported services to Turkey worth $4.48M, with Travel ($3.69M) and Transportation ($784k) being the largest in terms of value.

Turkey-Iceland Trade: In 2022, Turkey exported $81.4M to Iceland. The main products that Turkey exported to Iceland were Quartz ($21.7M), Raw Iron Bars ($11.7M), and Cars ($7.42M). Over the past 5 years the exports of Turkey to Iceland have decreased at an annualized rate of 18.4%, from $224M in 2017 to $81.4M in 2022.

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

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Turkey ranked 41 in the Economic Complexity Index (ECI 0.6), and 29 in total exports ($262B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iceland exported $34.5M to Turkey. The main products exported from Iceland to Turkey were Fish Fillets ($10.7M), Aluminium Wire ($10.7M), and Non-fillet Frozen Fish ($5.57M). During the last 5 years the exports of Iceland to Turkey have increased at an annualized rate of 2.35%, from $30.7M in 2017 to $34.5M in 2022.

In 2017, Turkey exported $81.4M to Iceland. The main products exported from Turkey to Iceland were Quartz ($21.7M), Raw Iron Bars ($11.7M), and Cars ($7.42M). During the last 5 years the exports of Turkey to Iceland have decreased at an annualized rate of 18.4%, from $224M in 2022 to $81.4M in 2017.

Exports from Iceland () to Turkey () (2022)

Exports from Turkey () to Iceland () (2022)

Latest Data

Trade between Iceland () and Turkey ()

Iceland Exports

Date

Turkey Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Turkey
Top DestinationGermany$21.9B

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

In 2022, countries that imported more from Iceland than Turkey included Greenland ($28.2M), Wallis and Futuna ($3.54M), and Montserrat ($65.6k).

In 2022, countries that imported more from Turkey than Iceland included Germany ($21.9B), United States ($17.1B), and Iraq ($13.7B).

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

Comparative Advantage Iceland - Turkey

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Turkey in the exports of Animal Products ($16.8M), Metals ($10.9M), and Machines ($1.9M).

During 2017, Turkey had a large net trade with Iceland in the exports of Mineral Products ($24.4M), Metals ($18.1M), and Transportation ($12.3M).

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 Iceland and Turkey. This means that a dot/product with the flag of Iceland indicates it has a comparative advantage over Turkey. Similarly, a dot/product with the flag of Turkey indicates it has a comparative advantage over Iceland.

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Historical Data

Bilateral Trade by Products

Exports from Iceland () to Turkey () (2022)

Exports from Turkey () to Iceland () (2022)

Latest Data

Trade between Iceland () and Turkey ()

Iceland Exports

Turkey Exports

Market Competitiveness

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

Comparative Advantage Iceland - Turkey

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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