2022
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GDP
$27.8BCURRENT US$
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2012-2022
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GDP GROWTH
88.7%CURRENT US$
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2022
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 GDP
$1.4TCURRENT US$
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2012-2022
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GDP GROWTH
5.49%CURRENT US$
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2022
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GDP PC 
$72,903CURRENT US$
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2012-2022
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GDP PC GROWTH
58.5%CURRENT US$
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2022
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GDP PC
$29,350CURRENT US$
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2012-2022
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GDP PC GROWTH
3.63%CURRENT US$
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About

Iceland-Spain In 2022, Iceland exported $319M to Spain. The main products that Iceland exported to Spain are Fish: dried, salted, smoked or in brine ($86M), Raw Aluminium ($82.4M), and Fish Fillets ($80.6M). During the last 27 years the exports of Iceland to Spain have increased at an annualized rate of 5.81%, from $69.4M in 1995 to $319M in 2022.

In 2019, Iceland exported services to Spain worth $108M, with Travel ($78.6M), Transportation ($23.8M), and Computer and information services ($2.35M) being the largest in terms of value.

Spain-Iceland In 2022, Spain exported $136M to Iceland. The main products that Spain exported to Iceland were Refined Petroleum ($11.7M), Aluminium Oxide ($11.5M), and Cars ($8.33M). During the last 27 years the exports of Spain to Iceland have increased at an annualized rate of 4.66%, from $39.8M in 1995 to $136M in 2022.

In 2008, Spain exported services to Iceland worth $246M, with Services not allocated ($146M) and Travel ($100M) being the largest in terms of value.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.8), and 20 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Iceland exported $319M to Spain. The main products exported from Iceland to Spain were Fish: dried, salted, smoked or in brine ($86M), Raw Aluminium ($82.4M), and Fish Fillets ($80.6M). During the last 27 years the exports of Iceland to Spain have increased at an annualized rate of 5.81%, from $69.4M in 1995 to $319M in 2022.

In 2022, Spain exported $136M to Iceland. The main products exported from Spain to Iceland were Refined Petroleum ($11.7M), Aluminium Oxide ($11.5M), and Cars ($8.33M). During the last 27 years the exports of Spain to Iceland have increased at an annualized rate of 4.66%, from $39.8M in 1995 to $136M in 2022.

Exports from Iceland (Flag) to Spain (Flag) (2022)

Exports from Spain (Flag) to Iceland (Flag) (2022)

Latest Data

Trade between Iceland (Flag) and Spain (Flag)

Iceland Exports

Spain Exports

Market Competitiveness

Color
Iceland
Top Destination
Netherlands$1.97B
Spain
Top Destination
France$65.2B

This map shows whether countries import more from Iceland or Spain. Each country is colored based on the difference in imports they receive from Iceland and Spain or the difference in the growth in imports.

In 2021, countries that imported more from Iceland than Spain were Greenland ($28.2M), Wallis and Futuna ($3.54M), and Bhutan ($549k).

In 2021, countries that imported more from Spain than Iceland were France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

Difference in imports from Spain (Flag) and Iceland (Flag) (2022)

Comparative Advantage Iceland - Spain

Flow
Scale

This chart compares trade between Iceland and Spain by product, considering products traded by both, Iceland and Spain.

During 2022, Iceland had a large net trade with Spain in the exports of Animal Products ($187M), Metals ($112M), and Foodstuffs ($6.32M).

During 2022, Spain had a large net trade with Iceland in the exports of Chemical Products ($23.2M), Mineral Products ($21.4M), and Transportation ($17.8M).

Service Trade

Bilateral Service Trade

Esp Year

In 2019, Iceland exported services to Spain worth $108M, with Travel ($78.6M), Transportation ($23.8M), and Computer and information services ($2.35M) being the largest in terms of value.

In 2008, Spain exported services to Iceland worth $246M, with Services not allocated ($146M) and Travel ($100M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to Spain (Flag) (2019)

Services Exports from Spain (Flag) to Iceland (Flag) (2008)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Iceland has comparative advantage over Spain. Similarly, the more yellow a dot/product is, the more Spain has comparative advantage over Iceland.

Product Space of Iceland (Flag) and Spain (Flag) (2022)

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