Kuwait (KWT) and Iceland (ISL) Trade | The Observatory of Economic Complexity

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Kuwait-Iceland Trade: In 2022, Kuwait exported $111M to Iceland. The main products that Kuwait exported to Iceland were Refined Petroleum ($111M), Ice Cream ($2.34k), and Non-Knit Women's Suits ($326). Over the past 6 years the exports of Kuwait to Iceland have increased at an annualized rate of 530%, from $1.77k in 2016 to $111M in 2022.

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

Iceland-Kuwait Trade: In 2022, Iceland exported $674k to Kuwait. The main products that Iceland exported to Kuwait were Water ($482k), Motor vehicles; parts and accessories (8701 to 8705) ($27k), and Packaged Medicaments ($22.1k). Over the past 6 years the exports of Iceland to Kuwait have decreased at an annualized rate of 7.82%, from $1.01M in 2016 to $674k in 2022.

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

Comparison In 2022, Kuwait ranked 46 in the Economic Complexity Index (ECI 0.44), and 42 in total exports ($101B). 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, Kuwait exported $111M to Iceland. The main products exported from Kuwait to Iceland were Refined Petroleum ($111M), Ice Cream ($2.34k), and Non-Knit Women's Suits ($326). During the last 6 years the exports of Kuwait to Iceland have increased at an annualized rate of 530%, from $1.77k in 2016 to $111M in 2022.

In 2017, Iceland exported $674k to Kuwait. The main products exported from Iceland to Kuwait were Water ($482k), Motor vehicles; parts and accessories (8701 to 8705) ($27k), and Packaged Medicaments ($22.1k). During the last 5 years the exports of Iceland to Kuwait have decreased at an annualized rate of 7.82%, from $1.01M in 2022 to $674k in 2017.

Exports from Kuwait () to Iceland () (2022)

Exports from Iceland () to Kuwait () (2022)

Latest Data

Trade between Kuwait () and Iceland ()

Iceland Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Kuwait
Top DestinationChina$24.3B

Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Kuwait than Iceland included China ($24.3B), India ($15B), and South Korea ($10.8B).

In 2022, countries that imported more from Iceland than Kuwait included Netherlands ($1.97B), Germany ($573M), and Norway ($459M).

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

Comparative Advantage Kuwait - Iceland

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Kuwait had a large net trade with Iceland in the exports of Mineral Products ($111M), Foodstuffs ($2.34k), and Textiles ($628).

During 2017, Iceland had a large net trade with Kuwait in the exports of Foodstuffs ($504k), Metals ($39.4k), and Chemical Products ($38.9k).

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

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Historical Data

Bilateral Trade by Products

Exports from Kuwait () to Iceland () (2022)

Exports from Iceland () to Kuwait () (2022)

Latest Data

Trade between Kuwait () and Iceland ()

Iceland Exports

Market Competitiveness

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

Comparative Advantage Kuwait - Iceland

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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