Vietnam (VNM) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Vietnam-Iceland Trade: In 2022, Vietnam exported $75.2M to Iceland. The main products that Vietnam exported to Iceland were Broadcasting Equipment ($24.2M), Other Floating Structures ($10.1M), and Passenger and Cargo Ships ($5.25M). Over the past 5 years the exports of Vietnam to Iceland have increased at an annualized rate of 26.7%, from $23.1M in 2017 to $75.2M in 2022.

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

Iceland-Vietnam Trade: In 2022, Iceland exported $5.34M to Vietnam. The main products that Iceland exported to Vietnam were Non-fillet Frozen Fish ($3.02M), Recovered Paper ($418k), and Natural Polymers ($384k). Over the past 5 years the exports of Iceland to Vietnam have decreased at an annualized rate of 10.7%, from $14.8M in 2017 to $5.34M in 2022.

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

Comparison In 2022, Vietnam ranked 55 in the Economic Complexity Index (ECI 0.2), and 19 in total exports ($399B). 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, Vietnam exported $75.2M to Iceland. The main products exported from Vietnam to Iceland were Broadcasting Equipment ($24.2M), Other Floating Structures ($10.1M), and Passenger and Cargo Ships ($5.25M). During the last 5 years the exports of Vietnam to Iceland have increased at an annualized rate of 26.7%, from $23.1M in 2017 to $75.2M in 2022.

In 2017, Iceland exported $5.34M to Vietnam. The main products exported from Iceland to Vietnam were Non-fillet Frozen Fish ($3.02M), Recovered Paper ($418k), and Natural Polymers ($384k). During the last 5 years the exports of Iceland to Vietnam have decreased at an annualized rate of 10.7%, from $14.8M in 2022 to $5.34M in 2017.

Exports from Vietnam () to Iceland () (2022)

Exports from Iceland () to Vietnam () (2022)

Latest Data

Trade between Vietnam () and Iceland ()

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$117B

Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Vietnam than Iceland included United States ($117B), China ($58.7B), and South Korea ($25.2B).

In 2022, countries that imported more from Iceland than Vietnam included Greenland ($28.2M), Bahamas ($20.1M), and Antigua and Barbuda ($8.12M).

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

Comparative Advantage Vietnam - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Vietnam had a large net trade with Iceland in the exports of Machines ($30.6M), Transportation ($15.5M), and Textiles ($11.8M).

During 2017, Iceland had a large net trade with Vietnam in the exports of Animal Products ($3.64M), Paper Goods ($420k), and Plastics and Rubbers ($409k).

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

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Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Iceland () (2022)

Exports from Iceland () to Vietnam () (2022)

Latest Data

Trade between Vietnam () and Iceland ()

Iceland Exports

Market Competitiveness

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

Comparative Advantage Vietnam - Iceland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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