Saudi Arabia (SAU) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Saudi Arabia-Iceland Trade: In 2022, Saudi Arabia exported $50.7M to Iceland. The main products that Saudi Arabia exported to Iceland were Refined Petroleum ($50.3M), Cars ($297k), and Coated Textile Fabric ($49k). Over the past 5 years the exports of Saudi Arabia to Iceland have decreased at an annualized rate of 14.8%, from $113M in 2017 to $50.7M in 2022.

In 2022, Saudi Arabia did not export any services to Iceland.

Iceland-Saudi Arabia Trade: In 2022, Iceland exported $198k to Saudi Arabia. The main products that Iceland exported to Saudi Arabia were Plastic Lids ($119k), Medical Instruments ($28.2k), and Water ($18.7k). Over the past 5 years the exports of Iceland to Saudi Arabia have decreased at an annualized rate of 44.6%, from $3.78M in 2017 to $198k in 2022.

In 2022, Iceland did not export any services to Saudi Arabia.

Comparison In 2022, Saudi Arabia ranked 35 in the Economic Complexity Index (ECI 0.78), and 23 in total exports ($362B). That same year, Iceland ranked 116 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 2022, Saudi Arabia exported $50.7M to Iceland. The main products exported from Saudi Arabia to Iceland were Refined Petroleum ($50.3M), Cars ($297k), and Coated Textile Fabric ($49k). During the last 5 years the exports of Saudi Arabia to Iceland have decreased at an annualized rate of 14.8%, from $113M in 2017 to $50.7M in 2022.

In 2017, Iceland exported $198k to Saudi Arabia. The main products exported from Iceland to Saudi Arabia were Plastic Lids ($119k), Medical Instruments ($28.2k), and Water ($18.7k). During the last 5 years the exports of Iceland to Saudi Arabia have decreased at an annualized rate of 44.6%, from $3.78M in 2022 to $198k in 2017.

Exports from Saudi Arabia () to Iceland () (2022)

Exports from Iceland () to Saudi Arabia () (2022)

Latest Data

Trade between Saudi Arabia () and Iceland ()

Saudi Arabia Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Saudi Arabia
Top DestinationChina$68B

Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Saudi Arabia than Iceland included China ($68B), India ($46.2B), and Japan ($36.5B).

In 2022, countries that imported more from Iceland than Saudi Arabia included Norway ($459M), Denmark ($257M), and Greenland ($28.2M).

Difference in imports from Iceland () and Saudi Arabia () (2022)

Comparative Advantage Saudi Arabia - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Saudi Arabia had a large net trade with Iceland in the exports of Mineral Products ($50.3M), Transportation ($329k), and Textiles ($50.1k).

During 2017, Iceland had a large net trade with Saudi Arabia in the exports of Plastics and Rubbers ($122k), Instruments ($29.1k), and Machines ($27.4k).

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

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Historical Data

Bilateral Trade by Products

Exports from Saudi Arabia () to Iceland () (2022)

Exports from Iceland () to Saudi Arabia () (2022)

Latest Data

Trade between Saudi Arabia () and Iceland ()

Saudi Arabia Exports

Iceland Exports

Market Competitiveness

Difference in imports from Iceland () and Saudi Arabia () (2022)

Comparative Advantage Saudi Arabia - Iceland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Saudi Arabia () and Iceland () (2022)

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