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Pricing

2022
Flag → Flag
Exports $20.6kRnk 102 / 126
2022
Flag → Flag
Top Product $17kHard Liquor
2022
Flag → Flag
Exports $84.6kRnk 114 / 160
2022
Flag → Flag
Top Product $58.6kLiquid Pumps
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag
 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Venezuela-Iceland Trade: In 2022, Venezuela exported $20.6k to Iceland. The main products that Venezuela exported to Iceland were Hard Liquor ($17k), Engine Parts ($1.92k), and Leather of Other Animals ($366). Over the past 5 years the exports of Venezuela to Iceland have increased at an annualized rate of 0.32%, from $20.3k in 2017 to $20.6k in 2022.

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

Iceland-Venezuela Trade: In 2022, Iceland exported $84.6k to Venezuela. The main products that Iceland exported to Venezuela were Liquid Pumps ($58.6k), Fish oil ($25.1k), and Broadcasting Equipment ($857). Over the past 5 years the exports of Iceland to Venezuela have increased at an annualized rate of 3.1%,  from $60.5k in 2017 to $84.6k in 2022.

In 2019, Iceland exported services to Venezuela worth $560k, with Travel ($560k) being the largest in terms of value.

Comparison In 2022,  Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87),  and 132 in total exports ($4.3B). 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
Value

In 2022, Venezuela exported $20.6k to Iceland. The main products exported from Venezuela to Iceland were Hard Liquor ($17k), Engine Parts ($1.92k), and Leather of Other Animals ($366). During the last 5 years the exports of Venezuela to Iceland have increased at an annualized rate of 0.32%, from $20.3k in 2017 to $20.6k in 2022.

In 2017, Iceland exported $84.6k to Venezuela. The main products exported from Iceland to Venezuela were Liquid Pumps ($58.6k), Fish oil ($25.1k), and Broadcasting Equipment ($857). During the last 5 years the exports of Iceland to Venezuela have increased at an annualized rate of 3.1%, from $60.5k in 2022 to $84.6k in 2017.

Exports from Venezuela (Flag) to Iceland (Flag) (2022)

Exports from Iceland (Flag) to Venezuela (Flag) (2022)

Latest Data

Trade between Venezuela (Flag) and Iceland (Flag)

Iceland Exports

Market Competitiveness

Color
Venezuela
Top DestinationChina$703M
Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Venezuela than Iceland included Turkey ($597M), China ($703M), and Brazil ($361M).

In 2022, countries that imported more from Iceland than Venezuela included Netherlands ($1.97B), United Kingdom ($672M), and Germany ($573M).

Difference in imports from Iceland (Flag) and Venezuela (Flag) (2022)

Comparative Advantage Venezuela - Iceland

Flow
Scale

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

During 2022, Venezuela had a large net trade with Iceland in the exports of Foodstuffs ($17k), Machines ($2.39k), and Vegetable Products ($474).

During 2017, Iceland had a large net trade with Venezuela in the exports of Machines ($59.5k), Animal and Vegetable Bi-Products ($25.1k), and Plastics and Rubbers ($19).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Venezuela Iceland+N/AN/A
Top Product Potential Iceland Venezuela+N/AN/A

N/A

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Bilateral Service Trade

In 2019, Iceland exported services to Venezuela worth $560k, with Travel ($560k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to Venezuela (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Venezuela (Flag) and Iceland (Flag) (2022)

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