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
$301BCURRENT US$
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GDP GROWTH
68.2%CURRENT US$
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GDP PC 
$72,903CURRENT US$
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58.5%CURRENT US$
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$15,892CURRENT US$
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77.9%CURRENT US$
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About

Iceland-Romania In 2022, Iceland exported $1.25M to Romania. The main products that Iceland exported to Romania are Other Edible Preparations ($378k), Processed Fish ($316k), and Fish oil ($292k). During the last 27 years the exports of Iceland to Romania have decreased at an annualized rate of 1.27%, from $1.76M in 1995 to $1.25M in 2022.

In 2019, Iceland exported services to Romania worth $5.71M, with Travel ($5.49M) and Transportation ($224k) being the largest in terms of value.

Romania-Iceland In 2022, Romania exported $22.5M to Iceland. The main products that Romania exported to Iceland were Cars ($10.9M), Electric Heaters ($1.04M), and Leather Footwear ($842k). During the last 27 years the exports of Romania to Iceland have increased at an annualized rate of 11%, from $1.35M in 1995 to $22.5M in 2022.

In 2020, Romania exported services to Iceland worth $10.6M, with Other business services ($7.77M), Travel ($1.94M), and Computer and information services ($685k) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Romania ranked 26 in the Economic Complexity Index (ECI 1.03), and 43 in total exports ($99.5B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $1.25M to Romania. The main products exported from Iceland to Romania were Other Edible Preparations ($378k), Processed Fish ($316k), and Fish oil ($292k). During the last 27 years the exports of Iceland to Romania have decreased at an annualized rate of 1.27%, from $1.76M in 1995 to $1.25M in 2022.

In 2022, Romania exported $22.5M to Iceland. The main products exported from Romania to Iceland were Cars ($10.9M), Electric Heaters ($1.04M), and Leather Footwear ($842k). During the last 27 years the exports of Romania to Iceland have increased at an annualized rate of 11%, from $1.35M in 1995 to $22.5M in 2022.

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

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

Latest Data

Trade between Iceland (Flag) and Romania (Flag)

Iceland Exports

Romania Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Romania
Top Destination
Germany$18.8B

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

In 2021, countries that imported more from Iceland than Romania were Nigeria ($69.3M), Greenland ($28.2M), and Bahamas ($20.1M).

In 2021, countries that imported more from Romania than Iceland were Germany ($18.8B), Italy ($9.55B), and Hungary ($6.75B).

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

Comparative Advantage Iceland - Romania

Flow
Scale

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

During 2022, Iceland had a large net trade with Romania in the exports of Foodstuffs ($694k), Animal and Vegetable Bi-Products ($292k), and Animal Products ($162k).

During 2022, Romania had a large net trade with Iceland in the exports of Transportation ($11.2M), Machines ($3.57M), and Miscellaneous ($1.37M).

Service Trade

Bilateral Service Trade

In 2019, Iceland exported services to Romania worth $5.71M, with Travel ($5.49M) and Transportation ($224k) being the largest in terms of value.

In 2020, Romania exported services to Iceland worth $10.6M, with Other business services ($7.77M), Travel ($1.94M), and Computer and information services ($685k) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

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

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

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