Iceland (ISL) and Malaysia (MYS) Trade | The Observatory of Economic Complexity

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Iceland-Malaysia Trade: In 2022, Iceland exported $992k to Malaysia. The main products that Iceland exported to Malaysia were Non-fillet Frozen Fish ($390k), Fish oil ($373k), and Medical Instruments ($100k). Over the past 5 years the exports of Iceland to Malaysia have decreased at an annualized rate of 9.12%, from $1.6M in 2017 to $992k in 2022.

In 2019, Iceland exported services to Malaysia worth $7.28M, with Travel ($6.94M) and Transportation ($336k) being the largest in terms of value.

Malaysia-Iceland Trade: In 2022, Malaysia exported $168M to Iceland. The main products that Malaysia exported to Iceland were Hydrometers ($115M), Printed Circuit Boards ($19.9M), and Computers ($14.2M). Over the past 5 years the exports of Malaysia to Iceland have increased at an annualized rate of 32.3%, from $10.2M in 2017 to $168M in 2022.

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

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Malaysia ranked 24 in the Economic Complexity Index (ECI 1.09), and 22 in total exports ($378B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Iceland exported $992k to Malaysia. The main products exported from Iceland to Malaysia were Non-fillet Frozen Fish ($390k), Fish oil ($373k), and Medical Instruments ($100k). During the last 5 years the exports of Iceland to Malaysia have decreased at an annualized rate of 9.12%, from $1.6M in 2017 to $992k in 2022.

In 2017, Malaysia exported $168M to Iceland. The main products exported from Malaysia to Iceland were Hydrometers ($115M), Printed Circuit Boards ($19.9M), and Computers ($14.2M). During the last 5 years the exports of Malaysia to Iceland have increased at an annualized rate of 32.3%, from $10.2M in 2022 to $168M in 2017.

Exports from Iceland () to Malaysia () (2022)

Exports from Malaysia () to Iceland () (2022)

Latest Data

Trade between Iceland () and Malaysia ()

Iceland Exports

Date

Malaysia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Malaysia
Top DestinationSingapore$53.8B

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

In 2022, countries that imported more from Iceland than Malaysia included Norway ($459M), Greenland ($28.2M), and Bahamas ($20.1M).

In 2022, countries that imported more from Malaysia than Iceland included Singapore ($53.8B), China ($48.5B), and United States ($44.2B).

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

Comparative Advantage Iceland - Malaysia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Malaysia in the exports of Animal Products ($392k), Animal and Vegetable Bi-Products ($383k), and Instruments ($113k).

During 2017, Malaysia had a large net trade with Iceland in the exports of Instruments ($118M), Machines ($41.1M), and Plastics and Rubbers ($5.05M).

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

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Historical Data

Bilateral Trade by Products

Exports from Iceland () to Malaysia () (2022)

Exports from Malaysia () to Iceland () (2022)

Latest Data

Trade between Iceland () and Malaysia ()

Iceland Exports

Malaysia Exports

Market Competitiveness

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

Comparative Advantage Iceland - Malaysia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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