Iceland-Czechia Bilateral Trade Analysis 2023
Complete trade statistics: $77.15M total volume •Iceland surplus: $77.15M
Iceland → Czechia
$77.15M
Exports (2023)
Czechia → Iceland
$0
Imports (2023)
Trade Balance
$77.15M
Surplus for Iceland
Total Trade
$77.15M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Iceland and Czechia. Green line shows exports from Iceland, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Iceland-Czechia commercial relationship and competitive positioning in global markets.
Iceland → Czechia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Iceland's export portfolio to Czechia demonstrates strategic specialization, with aluminium: unwrought, alloys representing a key competitive advantage in this bilateral market.
Czechia → Iceland Imports
Import Dependency Profile
📦 Import Strategy Analysis
Iceland's import pattern from Czechia reveals significant dependencyin vehicles: with only electric motor for propulsion, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Iceland demonstrates competitive strength in exportingaluminium: unwrought, alloys to Czechia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $77.15M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Iceland-Czechia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $77.15 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Iceland maintains a surplus of $77.15 million
- Export Focus: Iceland's primary exports include aluminium: unwrought, alloys, ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon, fish meat, excluding fillets, whether or not minced: frozen, n.e.c. in item no. 0304.9
- Import Dependencies: Key imports from Czechia include vehicles: with only electric motor for propulsion, buildings: prefabricated, not of wood, vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $77.15M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Iceland leveraging its comparative advantages in aluminium: unwrought, alloys.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Iceland's specialization in aluminium: unwrought, alloyscomplements Czechia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in vehicles: with only electric motor for propulsion.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $77.15M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $77.15M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $77.15 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in aluminium: unwrought, alloys and vehicles: with only electric motor for propulsion demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Iceland's trade surplus of $77.15 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Iceland and Czechia represents a total trade volume of $77.15 million in 2023. This partnership demonstrates a favorable trade balance for Iceland, with exports exceeding importsby $77.15 million.
Export Strengths
Iceland's exports to Czechia total $77.15 million, with competitive advantages in aluminium: unwrought, alloys, representing $60.07M or77.9% of bilateral exports.
Import Dependencies
Imports from Czechia amount to $0.00, highlighting economic interdependence in vehicles: with only electric motor for propulsion, with Vehicles: with only electric motor for propulsion comprisingInfinity% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Iceland's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Iceland and Czechia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023