Japan-Iceland Bilateral Trade Analysis 2023
Complete trade statistics: $339.03M total volume •Japan deficit: $18.98M
Japan → Iceland
$160.02M
Exports (2023)
Iceland → Japan
$179.00M
Imports (2023)
Trade Balance
$18.98M
Deficit for Japan
Total Trade
$339.03M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Japan and Iceland. Green line shows exports from Japan, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Japan-Iceland commercial relationship and competitive positioning in global markets.
Japan → Iceland Exports
Export Market Intelligence
🎯 Strategic Export Focus
Japan's export portfolio to Iceland demonstrates strategic specialization, with vehicles: with only electric motor for propulsion representing a key competitive advantage in this bilateral market.
Iceland → Japan Imports
Import Dependency Profile
📦 Import Strategy Analysis
Japan's import pattern from Iceland reveals strategic sourcingin ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Japan demonstrates competitive strength in exportingvehicles: with only electric motor for propulsion to Iceland, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $339.03M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Japan-Iceland Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $339.03 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Japan maintains a deficit of $18.98 million
- Export Focus: Japan's primary exports include vehicles: with only electric motor for propulsion, vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power, vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, capable of being charged by plugging to external source of electric power
- Import Dependencies: Key imports from Iceland include ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon, fish: frozen, n.e.c. in item no. 0303.5, excluding fillets, fish meat of 0304, and edible fish offal of subheadings 0303.91 to 0303.99, meat and edible meat offal: of whales, dolphins and porpoises (mammals of the order cetacea): of manatees and dugongs (mammals of the order sirenia): of seals, sea lions and walruses (mammals of the suborder pinnipedia), fresh, chilled or frozen
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 $339.03M 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 Japan leveraging its comparative advantages in vehicles: with only electric motor for propulsion.
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
Japan's specialization in vehicles: with only electric motor for propulsioncomplements Iceland's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $339.03M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $339.03M 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 $339.03 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in vehicles: with only electric motor for propulsion and ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Japan's trade deficit of $18.98 million impacts 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 Japan and Iceland represents a total trade volume of $339.03 million in 2023. This partnership demonstrates an unfavorable trade balance for Japan, with imports exceeding exportsby $18.98 million.
Export Strengths
Japan's exports to Iceland total $160.02 million, with competitive advantages in vehicles: with only electric motor for propulsion, representing $41.60M or26.0% of bilateral exports.
Import Dependencies
Imports from Iceland amount to $179.00 million, highlighting economic interdependence in ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon, with Ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon comprising33.4% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Japan's strategic sourcing from Iceland. 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 Japan and Iceland in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023