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

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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.

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.

Comparison In 2022, Turkey ranked 41 in the Economic Complexity Index (ECI 0.6), and 29 in total exports ($262B). 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, 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 2017 to $81.4M in 2022.

In 2017, 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 2022 to $34.5M in 2017.

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

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

Latest Data

Trade between Turkey () and Iceland ()

Turkey Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Turkey
Top DestinationGermany$21.9B

Iceland
Top DestinationNetherlands$1.97B

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

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

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

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

Comparative Advantage Turkey - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Turkey had a large net trade with Iceland in the exports of Mineral Products ($24.4M), Metals ($18.1M), and Transportation ($12.3M).

During 2017, Iceland had a large net trade with Turkey in the exports of Animal Products ($16.8M), Metals ($10.9M), and Machines ($1.9M).

Potential Exports

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Bilateral Service Trade

Isl Year

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

Service trade data is presented based on availability.

Services Exports from Iceland () to Turkey () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Turkey () and Iceland ()

Turkey Exports

Iceland Exports

Market Competitiveness

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

Comparative Advantage Turkey - Iceland

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Iceland () to Turkey () (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

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