Iceland (ISL) and Greenland (GRL) Trade | The Observatory of Economic Complexity

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Iceland-Greenland Trade: In 2022, Iceland exported $28.2M to Greenland. The main products that Iceland exported to Greenland were Refined Petroleum ($17M), Phosphinates (hypophosphites) and phosphonates (phosphites) ($2.15M), and Fish: dried, salted, smoked or in brine ($934k). Over the past 5 years the exports of Iceland to Greenland have decreased at an annualized rate of 6.3%, from $39.1M in 2017 to $28.2M in 2022.

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

Greenland-Iceland Trade: In 2022, Greenland exported $18.9M to Iceland. The main products that Greenland exported to Iceland were Non-fillet Fresh Fish ($9.43M), Other Inedible Animal Products ($3.3M), and Crustaceans ($3.26M). Over the past 5 years the exports of Greenland to Iceland have decreased at an annualized rate of 14.3%, from $40.9M in 2017 to $18.9M in 2022.

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

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B). That same year, Greenland ranked 152 in total exports ($1.49B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iceland exported $28.2M to Greenland. The main products exported from Iceland to Greenland were Refined Petroleum ($17M), Phosphinates (hypophosphites) and phosphonates (phosphites) ($2.15M), and Fish: dried, salted, smoked or in brine ($934k). During the last 5 years the exports of Iceland to Greenland have decreased at an annualized rate of 6.3%, from $39.1M in 2017 to $28.2M in 2022.

In 2017, Greenland exported $18.9M to Iceland. The main products exported from Greenland to Iceland were Non-fillet Fresh Fish ($9.43M), Other Inedible Animal Products ($3.3M), and Crustaceans ($3.26M). During the last 5 years the exports of Greenland to Iceland have decreased at an annualized rate of 14.3%, from $40.9M in 2022 to $18.9M in 2017.

Exports from Iceland () to Greenland () (2022)

Exports from Greenland () to Iceland () (2022)

Latest Data

Trade between Iceland () and Greenland ()

Iceland Exports

Date

Greenland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Greenland
Top DestinationDenmark$731M

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

In 2022, countries that imported more from Iceland than Greenland included Netherlands ($1.97B), United Kingdom ($672M), and United States ($613M).

In 2022, countries that imported more from Greenland than Iceland included Denmark ($731M), China ($353M), and Chinese Taipei ($51.1M).

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

Comparative Advantage Iceland - Greenland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Greenland in the exports of Mineral Products ($17.2M), Animal Products ($2.26M), and Chemical Products ($2.22M).

During 2017, Greenland had a large net trade with Iceland in the exports of Animal Products ($17.1M), Foodstuffs ($839k), and Mineral Products ($491k).

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

About

Historical Data

Bilateral Trade by Products

Exports from Iceland () to Greenland () (2022)

Exports from Greenland () to Iceland () (2022)

Latest Data

Trade between Iceland () and Greenland ()

Iceland Exports

Greenland Exports

Market Competitiveness

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

Comparative Advantage Iceland - Greenland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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