Flag Iceland / Spain Flag

2021
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Exports
: $704M, Rnk 2 / 162

2021
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Top Product
: $367M, Raw Aluminium

2021
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Exports
: $133M, Rnk 96 / 222

2021
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Top Product
: $34.7M, Fishing Ships

2021
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Economic Complexity (ECI)
: ECI 0.78, Rnk 35 / 131

2021
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GDP
: $25.5B, CURRENT US$
Rnk 104 / 182

2011-2021
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GDP GROWTH
: 67.3%, CURRENT US$
Rnk 32 / 182

2021
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 GDP
: $1.43T, CURRENT US$
Rnk 14 / 182

2011-2021
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GDP GROWTH
: -3.74%, CURRENT US$
Rnk 158 / 182

2021
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GDP PC 
: $68,384, CURRENT US$
Rnk 8 / 182

2011-2021
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GDP PC GROWTH
: 43.3%, CURRENT US$
Rnk 38 / 182

2021
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GDP PC
: $30,116, CURRENT US$
Rnk 32 / 182

2011-2021
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GDP PC GROWTH
: -4.93%, CURRENT US$
Rnk 139 / 182

Iceland-Spain In 2021, Iceland exported $704M to Spain. The main products that Iceland exported to Spain are Raw Aluminium ($367M), Aluminium Wire ($112M), and Fish: dried, salted, smoked or in brine ($83.6M). During the last 26 years the exports of Iceland to Spain have increased at an annualized rate of 9.32%, from $69.3M in 1995 to $704M in 2021.

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 2021, Spain exported $133M to Iceland. The main products that Spain exported to Iceland were Fishing Ships ($34.7M), Cars ($10.5M), and Iron Structures ($4.45M). During the last 26 years the exports of Spain to Iceland have increased at an annualized rate of 4.74%, from $39.8M in 1995 to $133M in 2021.

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 2021,  Iceland ranked 113 in total exports ($6.76B), and does not have data regarding Economic Complexity Index. That same year, Spain ranked 35 in the Economic Complexity Index (ECI 0.78), and 16 in total exports ($372B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, Iceland exported $704M to Spain. The main products exported from Iceland to Spain were Raw Aluminium ($367M), Aluminium Wire ($112M), and Fish: dried, salted, smoked or in brine ($83.6M). During the last 26 years the exports of Iceland to Spain have increased at an annualized rate of 9.32%, from $69.3M in 1995 to $704M in 2021.

In 2021, Spain exported $133M to Iceland. The main products exported from Spain to Iceland were Fishing Ships ($34.7M), Cars ($10.5M), and Iron Structures ($4.45M). During the last 26 years the exports of Spain to Iceland have increased at an annualized rate of 4.74%, from $39.8M in 1995 to $133M in 2021.

Iceland Exports

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Market Competitiveness

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Color

Iceland
Top Destination
: Netherlands, $1.65B

Spain
Top Destination
: France, $59B

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 Tokelau ($232k), Wallis and Futuna ($411k), and Montserrat ($85.2k).

In 2021, countries that imported more from Spain than Iceland were France ($59B), Germany ($38.3B), and Italy ($30.6B).

Comparative Advantage Iceland - Spain

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Flow
Scale

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

During 2021, Iceland had a large net trade with Spain in the exports of Metals ($516M), Animal Products ($163M), and Foodstuffs ($12.1M).

During 2021, Spain had a large net trade with Iceland in the exports of Transportation ($48.7M), Machines ($13M), and Vegetable Products ($12M).

Bilateral Service Trade

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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.

Economic Complexity

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Competitive Landscape

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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.