Understanding Tea

Iceland’s Tea Trade: Analyzing Exports and Imports

Iceland’s tea trade industry showcases the nation’s participation in the global tea market, both as an exporter and an importer. With modest tea exports, Iceland’s focus lies in meeting domestic demand and potentially expanding its reach in key markets such as the United States, the United Kingdom, and Denmark.

Tea Imports Exports

Exports

In 2021, Iceland exported tea valued at $10.6k, positioning it as the 143rd largest tea exporter globally. Among Iceland’s exported products, tea ranked 539th. The primary destinations for Icelandic tea exports were the United States, accounting for $6.19k, followed by the United Kingdom ($2.06k), Switzerland ($376), Germany ($347), and Denmark ($314).

Iceland experienced notable growth in its tea exports between 2020 and 2021. The fastest-growing export markets for Icelandic tea during this period were the United States, witnessing an increase of $3.06k, followed by the United Kingdom with $1.85k and Denmark with $308.

ContinentCountryTrade Value
AfricaEgypt16
AfricaZambia64
AsiaChina4
AsiaIsrael19
AsiaJapan10
AsiaSaudi Arabia66
AsiaSingapore10
EuropeAustria21
EuropeBelgium24
EuropeSwitzerland376
EuropeCzechia45
EuropeGermany347
EuropeDenmark314
EuropeSpain11
EuropeFinland20
EuropeFrance178
EuropeUnited Kingdom2,055
EuropeIreland2
EuropeItaly36
EuropeLuxembourg93
EuropeLatvia62
EuropeNetherlands160
EuropeRussia7
EuropeSweden105
North AmericaCanada176
North AmericaMexico35
North AmericaUnited States6191
OceaniaAustralia123
Table: Where Does Iceland Export Its Tea (2021)

Imports

In 2021, Iceland imported tea valued at $1.49M, positioning it as the 136th largest tea importer globally. Tea ranked as the 463rd most imported product in Iceland. The primary sources of Iceland’s tea imports were the United Kingdom, accounting for $513k, followed by Denmark ($201k), Poland ($114k), Germany ($114k), and the United States ($95.2k).

Iceland experienced notable growth in tea imports between 2020 and 2021. Notably, the United Kingdom led the way with an increase of $133k, followed by Germany with $49.9k and Sri Lanka with $49k.

ContinentCountryTrade Value
AfricaAngola3
AfricaEgypt820
AfricaGambia19
AfricaKenya1,243
AfricaMorocco233
AfricaMauritania19
AfricaNigeria219
AfricaRwanda1,138
AfricaEswatini42
AfricaSouth Africa1,392
AsiaUnited Arab Emirates146
AsiaChina45,979
AsiaHong Kong666
AsiaIndonesia803
AsiaIndia13,853
AsiaIsrael97
AsiaJapan39,126
AsiaSouth Korea251
AsiaLebanon49
AsiaSri Lanka84,565
AsiaMalaysia29
AsiaPakistan7
AsiaPhilippines17
AsiaSingapore1,276
AsiaSyria2,589
AsiaThailand10,603
AsiaTurkey5,018
AsiaVietnam4,050
AsiaChinese Taipei1,788
EuropeAustria1,080
EuropeBelgium11,152
EuropeBulgaria29
EuropeSwitzerland1,593
EuropeCzechia2,364
EuropeGermany114,169
EuropeDenmark201,296
EuropeSpain4,945
EuropeEstonia20
EuropeFinland790
EuropeFrance31,423
EuropeUnited Kingdom512,988
EuropeGreece41
EuropeHungary13,114
EuropeIreland391
EuropeItaly39,426
EuropeLithuania755
EuropeLuxembourg520
EuropeLatvia35
EuropeNorth Macedonia474
EuropeNetherlands76,147
EuropeNorway13,867
EuropePoland114,392
EuropePortugal145
EuropeRomania704
EuropeRussia31
EuropeSweden14,308
EuropeUkraine27
North AmericaCanada924
North AmericaSaint Lucia96
North AmericaUnited States95,189
OceaniaAustralia22,076
OceaniaNew Zealand135
South AmericaArgentina100
South AmericaBrazil77
South AmericaChile589
South AmericaEcuador9
South AmericaUruguay13
Table: Where Iceland Import Its Tea (2021)

Potential Of Tea Import and Export Between Vietnam-Iceland

While the bilateral trade between Vietnam and Iceland may not currently reach significant levels, it is worth noting that Iceland’s tea imports in 2021 amounted to a total value of $4,050. Recognizing this, it becomes evident that Vietnam, as a global leader in tea production and export, has immense potential to collaborate with Iceland in introducing Vietnamese tea to the Icelandic market in the foreseeable future.

Data: BACI

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