2022
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GDP
$281BCURRENT US$
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2012-2022
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GDP GROWTH
8.73%CURRENT US$
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2022
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 GDP
$27.8BCURRENT US$
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2012-2022
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GDP GROWTH
88.7%CURRENT US$
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2022
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GDP PC 
$50,537CURRENT US$
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2012-2022
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GDP PC GROWTH
5.93%CURRENT US$
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2022
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GDP PC
$72,903CURRENT US$
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2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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About

Finland-Iceland In 2022, Finland exported $88.4M to Iceland. The main products that Finland exported to Iceland are Mixed Mineral or Chemical Fertilizers ($8.65M), Plywood ($6.58M), and Rubber Tires ($3.94M). During the last 27 years the exports of Finland to Iceland have increased at an annualized rate of 3.57%, from $34.3M in 1995 to $88.4M in 2022.

In 2020, Finland exported services to Iceland worth $3.43M, with Transportation ($1.14M), Royalties and license fees ($1.14M), and Other business services ($1.14M) being the largest in terms of value.

Iceland-Finland In 2022, Iceland exported $29.1M to Finland. The main products that Iceland exported to Finland were Ferroalloys ($10.3M), Amino-resins ($3.82M), and Aluminium Wire ($3.42M). During the last 27 years the exports of Iceland to Finland have increased at an annualized rate of 4.12%, from $9.77M in 1995 to $29.1M in 2022.

In 2019, Iceland exported services to Finland worth $50.8M, with Travel ($23.5M), Transportation ($21.7M), and Computer and information services ($2.57M) being the largest in terms of value.

Comparison In 2022,  Finland ranked 11 in the Economic Complexity Index (ECI 1.39),  and 46 in total exports ($89.9B). 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
Value

In 2022, Finland exported $88.4M to Iceland. The main products exported from Finland to Iceland were Mixed Mineral or Chemical Fertilizers ($8.65M), Plywood ($6.58M), and Rubber Tires ($3.94M). During the last 27 years the exports of Finland to Iceland have increased at an annualized rate of 3.57%, from $34.3M in 1995 to $88.4M in 2022.

In 2022, Iceland exported $29.1M to Finland. The main products exported from Iceland to Finland were Ferroalloys ($10.3M), Amino-resins ($3.82M), and Aluminium Wire ($3.42M). During the last 27 years the exports of Iceland to Finland have increased at an annualized rate of 4.12%, from $9.77M in 1995 to $29.1M in 2022.

Exports from Finland (Flag) to Iceland (Flag) (2022)

Exports from Iceland (Flag) to Finland (Flag) (2022)

Latest Data

Trade between Finland (Flag) and Iceland (Flag)

Finland Exports

Iceland Exports

Market Competitiveness

Color
Finland
Top Destination
Germany$9.99B
Iceland
Top Destination
Netherlands$1.97B

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

In 2021, countries that imported more from Finland than Iceland were Germany ($9.99B), Sweden ($9.1B), and United States ($9.17B).

In 2021, countries that imported more from Iceland than Finland were Greenland ($28.2M), Bahamas ($20.1M), and Wallis and Futuna ($3.54M).

Difference in imports from Iceland (Flag) and Finland (Flag) (2022)

Comparative Advantage Finland - Iceland

Flow
Scale

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

During 2022, Finland had a large net trade with Iceland in the exports of Machines ($20M), Chemical Products ($12M), and Wood Products ($11.1M).

During 2022, Iceland had a large net trade with Finland in the exports of Metals ($14M), Plastics and Rubbers ($4.06M), and Foodstuffs ($2.58M).

Service Trade

Bilateral Service Trade

In 2020, Finland exported services to Iceland worth $3.43M, with Transportation ($1.14M), Royalties and license fees ($1.14M), and Other business services ($1.14M) being the largest in terms of value.

In 2019, Iceland exported services to Finland worth $50.8M, with Travel ($23.5M), Transportation ($21.7M), and Computer and information services ($2.57M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Finland (Flag) to Iceland (Flag) (2020)

Services Exports from Iceland (Flag) to Finland (Flag) (2019)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Finland has comparative advantage over Iceland. Similarly, the more yellow a dot/product is, the more Iceland has comparative advantage over Finland.

Product Space of Finland (Flag) and Iceland (Flag) (2022)

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