Iceland (ISL) and Belarus (BLR) Trade | The Observatory of Economic Complexity

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Iceland-Belarus Trade: In 2022, Iceland exported $14.9M to Belarus. The main products that Iceland exported to Belarus were Fish Fillets ($9.46M), Non-fillet Frozen Fish ($4.62M), and Processed Fish ($487k). Over the past 5 years the exports of Iceland to Belarus have decreased at an annualized rate of 14%, from $31.7M in 2017 to $14.9M in 2022.

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

Belarus-Iceland Trade: In 2022, Belarus exported $5.02M to Iceland. The main products that Belarus exported to Iceland were Hot-Rolled Iron Bars ($1.86M), Raw Iron Bars ($1.3M), and Wood Carpentry ($872k). Over the past 5 years the exports of Belarus to Iceland have decreased at an annualized rate of 2.55%, from $5.72M in 2017 to $5.02M in 2022.

In 2014, Belarus exported services to Iceland worth $9, with Insurance services ($9) being the largest in terms of value.

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Belarus ranked 32 in the Economic Complexity Index (ECI 0.82), and 100 in total exports ($10.4B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iceland exported $14.9M to Belarus. The main products exported from Iceland to Belarus were Fish Fillets ($9.46M), Non-fillet Frozen Fish ($4.62M), and Processed Fish ($487k). During the last 5 years the exports of Iceland to Belarus have decreased at an annualized rate of 14%, from $31.7M in 2017 to $14.9M in 2022.

In 2017, Belarus exported $5.02M to Iceland. The main products exported from Belarus to Iceland were Hot-Rolled Iron Bars ($1.86M), Raw Iron Bars ($1.3M), and Wood Carpentry ($872k). During the last 5 years the exports of Belarus to Iceland have decreased at an annualized rate of 2.55%, from $5.72M in 2022 to $5.02M in 2017.

Exports from Iceland () to Belarus () (2022)

Exports from Belarus () to Iceland () (2022)

Latest Data

Trade between Iceland () and Belarus ()

Iceland Exports

Date

Belarus Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Belarus
Top DestinationChina$1.6B

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

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

In 2022, countries that imported more from Belarus than Iceland included China ($1.6B), Ukraine ($1.29B), and Kazakhstan ($827M).

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

Comparative Advantage Iceland - Belarus

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Belarus in the exports of Animal Products ($14.1M), Foodstuffs ($487k), and Animal and Vegetable Bi-Products ($373k).

During 2017, Belarus had a large net trade with Iceland in the exports of Metals ($3.63M), Wood Products ($897k), and Plastics and Rubbers ($230k).

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

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Historical Data

Bilateral Trade by Products

Exports from Iceland () to Belarus () (2022)

Exports from Belarus () to Iceland () (2022)

Latest Data

Trade between Iceland () and Belarus ()

Iceland Exports

Belarus Exports

Market Competitiveness

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

Comparative Advantage Iceland - Belarus

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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