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
$28.4BCURRENT US$
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2012-2022
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GDP GROWTH
13.5%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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2022
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GDP PC
$31,284CURRENT US$
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2012-2022
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GDP PC GROWTH
7.9%CURRENT US$
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About

Iceland-Cyprus In 2022, Iceland exported $2.06M to Cyprus. The main products that Iceland exported to Cyprus are Non-fillet Frozen Fish ($789k), Fish: dried, salted, smoked or in brine ($636k), and Refined Petroleum ($400k). During the last 27 years the exports of Iceland to Cyprus have increased at an annualized rate of 6.19%, from $407k in 1995 to $2.06M in 2022.

In 2019, Iceland exported services to Cyprus worth $1.34M, with Travel ($896k) and Transportation ($448k) being the largest in terms of value.

Cyprus-Iceland In 2022, Cyprus exported $1.61M to Iceland. The main products that Cyprus exported to Iceland were Pure Olive Oil ($974k), Packaged Medicaments ($157k), and Densified Wood ($131k). During the last 27 years the exports of Cyprus to Iceland have increased at an annualized rate of 10.2%, from $117k in 1995 to $1.61M in 2022.

In 2010, Cyprus exported services to Iceland worth $2.65M, with Financial services ($2.65M) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B). That same year, Cyprus ranked 125 in total exports ($4.91B). Both countries does not have data related to Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $2.06M to Cyprus. The main products exported from Iceland to Cyprus were Non-fillet Frozen Fish ($789k), Fish: dried, salted, smoked or in brine ($636k), and Refined Petroleum ($400k). During the last 27 years the exports of Iceland to Cyprus have increased at an annualized rate of 6.19%, from $407k in 1995 to $2.06M in 2022.

In 2022, Cyprus exported $1.61M to Iceland. The main products exported from Cyprus to Iceland were Pure Olive Oil ($974k), Packaged Medicaments ($157k), and Densified Wood ($131k). During the last 27 years the exports of Cyprus to Iceland have increased at an annualized rate of 10.2%, from $117k in 1995 to $1.61M in 2022.

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

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

Latest Data

Trade between Iceland (Flag) and Cyprus (Flag)

Iceland Exports

Cyprus Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Cyprus
Top Destination
Hong Kong$482M

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

In 2021, countries that imported more from Iceland than Cyprus were Netherlands ($1.97B), United States ($613M), and Germany ($573M).

In 2021, countries that imported more from Cyprus than Iceland were Hong Kong ($482M), Greece ($471M), and Lebanon ($329M).

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

Comparative Advantage Iceland - Cyprus

Flow
Scale

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

During 2022, Iceland had a large net trade with Cyprus in the exports of Animal Products ($1.55M), Mineral Products ($400k), and Instruments ($62.1k).

During 2022, Cyprus had a large net trade with Iceland in the exports of Animal and Vegetable Bi-Products ($975k), Chemical Products ($157k), and Wood Products ($131k).

Service Trade

Bilateral Service Trade

In 2019, Iceland exported services to Cyprus worth $1.34M, with Travel ($896k) and Transportation ($448k) being the largest in terms of value.

In 2010, Cyprus exported services to Iceland worth $2.65M, with Financial services ($2.65M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Cyprus (Flag) to Iceland (Flag) (2010)

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 Iceland has comparative advantage over Cyprus. Similarly, the more yellow a dot/product is, the more Cyprus has comparative advantage over Iceland.

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

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