Guatemala (GTM) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Guatemala-Iceland Trade: In 2022, Guatemala exported $457k to Iceland. The main products that Guatemala exported to Iceland were Coffee ($83.9k), Legumes ($69k), and Bananas ($49.7k). Over the past 5 years the exports of Guatemala to Iceland have decreased at an annualized rate of 12.7%, from $901k in 2017 to $457k in 2022.

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

Iceland-Guatemala Trade: In 2022, Iceland exported $217k to Guatemala. The main products that Iceland exported to Guatemala were Valves ($172k), Fish oil ($18.1k), and Non-fillet Fresh Fish ($14k). Over the past 5 years the exports of Iceland to Guatemala have increased at an annualized rate of 32.6%, from $52.9k in 2017 to $217k in 2022.

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

Comparison In 2022, Guatemala ranked 76 in the Economic Complexity Index (ECI -0.2), and 84 in total exports ($16.4B). 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, Guatemala exported $457k to Iceland. The main products exported from Guatemala to Iceland were Coffee ($83.9k), Legumes ($69k), and Bananas ($49.7k). During the last 5 years the exports of Guatemala to Iceland have decreased at an annualized rate of 12.7%, from $901k in 2017 to $457k in 2022.

In 2017, Iceland exported $217k to Guatemala. The main products exported from Iceland to Guatemala were Valves ($172k), Fish oil ($18.1k), and Non-fillet Fresh Fish ($14k). During the last 5 years the exports of Iceland to Guatemala have increased at an annualized rate of 32.6%, from $52.9k in 2022 to $217k in 2017.

Exports from Guatemala () to Iceland () (2022)

Exports from Iceland () to Guatemala () (2022)

Latest Data

Trade between Guatemala () and Iceland ()

Guatemala Exports

Date

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Guatemala
Top DestinationUnited States$5.23B

Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Guatemala than Iceland included United States ($5.23B), El Salvador ($2.03B), and Honduras ($1.58B).

In 2022, countries that imported more from Iceland than Guatemala included Netherlands ($1.97B), United Kingdom ($672M), and Norway ($459M).

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

Comparative Advantage Guatemala - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Guatemala had a large net trade with Iceland in the exports of Vegetable Products ($267k), Textiles ($117k), and Foodstuffs ($58.3k).

During 2017, Iceland had a large net trade with Guatemala in the exports of Machines ($178k), Animal and Vegetable Bi-Products ($18.1k), and Animal Products ($14k).

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

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Historical Data

Bilateral Trade by Products

Exports from Guatemala () to Iceland () (2022)

Exports from Iceland () to Guatemala () (2022)

Latest Data

Trade between Guatemala () and Iceland ()

Guatemala Exports

Iceland Exports

Market Competitiveness

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

Comparative Advantage Guatemala - Iceland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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