According to The Canadian Trade Commissioner Service :
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In 2008, Canada was Iceland’s 20th largest trade partner with the top three Icelandic export sectors being: Fish, crustaceans, molluscs (C$11.1m), Chemicals (C$4.1m) and Machinery (C$3.7m)
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These figures are extremely small relative to the canadian economy and today are probably lower due to their banking collapse and a national GDP decline of >25% since the start financial crisis. However, I am actually pleasantly surprised by these figures considering it only has a population of around 320 000.
Returning to responding to your statement, you can extrapolate from these figures what the current economic interdependence is between Alberta and Iceland...
Fun fact: Read on wikipedia Iceland recently (2012) considered switching its currency to the Canadian Dollar because of the financial crisis and the devaluation of their currency (among other currencies but the Canadian Dollar was supposedly the favorite). I'm not sure if that idea is still being considered though.
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