Iceland-Netherlands Bilateral Trade Analysis 2023
Complete trade statistics: $3.04B total volume •Iceland surplus: $1.45B
Iceland → Netherlands
$2.24B
Exports (2023)
Netherlands → Iceland
$798.13M
Imports (2023)
Trade Balance
$1.45B
Surplus for Iceland
Total Trade
$3.04B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Iceland and Netherlands. 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-Netherlands commercial relationship and competitive positioning in global markets.
Iceland → Netherlands Exports
Export Market Intelligence
🎯 Strategic Export Focus
Iceland's export portfolio to Netherlands demonstrates strategic specialization, with aluminium: unwrought, (not alloyed) representing a key competitive advantage in this bilateral market.
Netherlands → Iceland Imports
Import Dependency Profile
📦 Import Strategy Analysis
Iceland's import pattern from Netherlands reveals significant dependencyin carbon electrodes: with or without metal, of a kind used for furnaces, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Iceland demonstrates competitive strength in exportingaluminium: unwrought, (not alloyed) to Netherlands, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $3.04B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Iceland-Netherlands Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $3.04 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Iceland maintains a surplus of $1.45 billion
- Export Focus: Iceland's primary exports include aluminium: unwrought, (not alloyed), aluminium: unwrought, alloys, aluminium: (not alloyed), wire, maximum cross-sectional dimension exceeds 7mm
- Import Dependencies: Key imports from Netherlands include carbon electrodes: with or without metal, of a kind used for furnaces, automatic data processing machines: presented in the form of systems, n.e.c. in item no. 8471.30 or 8471.41, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils
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 $3.04B 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, (not alloyed).
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, (not alloyed)complements Netherlands's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in carbon electrodes: with or without metal, of a kind used for furnaces.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $3.04B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $3.04B 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 $3.04 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in aluminium: unwrought, (not alloyed) and carbon electrodes: with or without metal, of a kind used for furnaces demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Iceland's trade surplus of $1.45 billion 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 Netherlands represents a total trade volume of $3.04 billion in 2023. This partnership demonstrates a favorable trade balance for Iceland, with exports exceeding importsby $1.45 billion.
Export Strengths
Iceland's exports to Netherlands total $2.24 billion, with competitive advantages in aluminium: unwrought, (not alloyed), representing $1.15B or51.1% of bilateral exports.
Import Dependencies
Imports from Netherlands amount to $798.13 million, highlighting economic interdependence in carbon electrodes: with or without metal, of a kind used for furnaces, with Carbon electrodes: with or without metal, of a kind used for furnaces comprising22.6% 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 Netherlands in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023