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2022
Flag → Flag
Exports $404MRnk 108 / 219
2022
Flag → Flag
Top Product $55.6MCars
2022
Flag → Flag
Exports $613MRnk 3 / 160
2022
Flag → Flag
Top Product $242MFish Fillets
2022
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Economic Complexity (ECI) ECI 1.47Rnk 10 / 133
2022
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GDP$25.5TCURRENT US$
Rnk 1 / 186
2012-2022
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GDP GROWTH56.7%CURRENT US$
Rnk 45 / 186
2022
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 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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GDP PC $76,399CURRENT US$
Rnk 8 / 186
2012-2022
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GDP PC GROWTH47.5%CURRENT US$
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2022
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GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH58.5%CURRENT US$
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About

United States-Iceland Trade: In 2022, United States exported $404M to Iceland. The main products that United States exported to Iceland were Cars ($55.6M), Planes, Helicopters, and/or Spacecraft ($47.7M), and Refined Petroleum ($43.6M). Over the past 5 years the exports of United States to Iceland have increased at an annualized rate of 2.17%, from $363M in 2017 to $404M in 2022.

In 2022, United States did not export any services to Iceland.

Iceland-United States Trade: In 2022, Iceland exported $613M to United States. The main products that Iceland exported to United States were Fish Fillets ($242M), Non-fillet Fresh Fish ($73.4M), and Orthopedic Appliances ($60.8M). Over the past 5 years the exports of Iceland to United States have increased at an annualized rate of 10.3%,  from $375M in 2017 to $613M in 2022.

In 2019, Iceland exported services to United States worth $1.68B, with Travel ($801M), Transportation ($535M), and Other business services ($185M) being the largest in terms of value.

Comparison In 2022,  United States ranked 10 in the Economic Complexity Index (ECI 1.47),  and 2 in total exports ($1.95T). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Company data: In 2023, leading companies such as Wismettac Asian Foods (12) and Barry Callebaut (3) were at the forefront of exporting goods from Iceland to the United States. Conversely, Vignir G Jonsson Ehf (12) and Other (3) were notable for importing products to Iceland from the United States.

Latest Trends

August, 2024

About

Overview In August 2024, United States exported $61.7M and imported $60.6M from Iceland, resulting in a positive trade balance of $1.1M. Between August 2023 and August 2024 the exports of United States have increased by $37.1M (151%) from $24.5M to $61.7M, while imports increased by $3.9M (6.89%) from $56.7M to $60.6M.

Trade In August 2024, the top exports of United States to Iceland were Commodities not elsewhere specified ($4.07M), Hydrometers ($2M), Broadcasting Equipment ($619k), Packaged Medicaments ($569k), and Aircraft Parts ($481k). In August 2024 the top imports of United States from Iceland were Fish Fillets ($24.1M), Orthopedic Appliances ($12.7M), Non-fillet Fresh Fish ($5.12M), Water ($1.79M), and Ferroalloys ($1.71M).

Origins In August 2024 the exports of United States were mainly from Texas ($30.4M), California ($3.62M), Indiana ($1.99M), New York ($1.55M), and Massachusetts ($1.45M), while imports destinations were mainly California ($18.4M), Massachusetts ($15.2M), New Jersey ($3.78M), Pennsylvania ($3.7M), and Virginia ($3.7M).

Growth In August 2024, the increase in United States's year-by-year exports to Iceland was explained primarily by an increase in product exports in Hydrometers ($1.94M or 3.12k%), Commodities not elsewhere specified ($647k or 18.9%), and Packaged Medicaments ($489k or 614%). In August 2024, the increase in United States's year-by-year imports  from Iceland was explained primarily by an increase in product imports  in Orthopedic Appliances ($9.48M or 295%), Fish Fillets ($3.93M or 19.4%), and Surveying Equipment ($1.09M or 7.73k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$37.1M(151%)
IMPORT GROWTH (August 2023 - August 2024)$3.9M(6.89%)
MAIN EXPORTER (August 2024)Texas$30.4M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Iceland and United States trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United States exported $404M to Iceland. The main products exported from United States to Iceland were Cars ($55.6M), Planes, Helicopters, and/or Spacecraft ($47.7M), and Refined Petroleum ($43.6M). During the last 5 years the exports of United States to Iceland have increased at an annualized rate of 2.17%, from $363M in 2017 to $404M in 2022.

In 2017, Iceland exported $613M to United States. The main products exported from Iceland to United States were Fish Fillets ($242M), Non-fillet Fresh Fish ($73.4M), and Orthopedic Appliances ($60.8M). During the last 5 years the exports of Iceland to United States have increased at an annualized rate of 10.3%, from $375M in 2022 to $613M in 2017.

Exports from United States (Flag) to Iceland (Flag) (2022)

Exports from Iceland (Flag) to United States (Flag) (2022)

Market Competitiveness

Color
United States
Top DestinationCanada$308B
Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from United States than Iceland included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Iceland than United States included Greenland ($28.2M) and Wallis and Futuna ($3.54M).

Difference in imports from Iceland (Flag) and United States (Flag) (2022)

Comparative Advantage United States - Iceland

Flow
Scale

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

During 2022, United States had a large net trade with Iceland in the exports of Transportation ($131M), Machines ($73.7M), and Mineral Products ($45.3M).

During 2017, Iceland had a large net trade with United States in the exports of Animal Products ($346M), Instruments ($84.3M), and Foodstuffs ($41.6M).

Bilateral Service Trade

In 2019, Iceland exported services to United States worth $1.68B, with Travel ($801M), Transportation ($535M), and Other business services ($185M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to United States (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of United States (Flag) and Iceland (Flag) (2022)

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