Flag Iceland / Spain Flag

2020
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Exports
: $796M, Rnk 2 / 152

2020
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Top Product
: $439M, Raw Aluminium

2020
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Exports
: $99.6M, Rnk 102 / 218

2020
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Top Product
: $20.4M, Gas Turbines

2020
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Economic Complexity (ECI)
: ECI 0.76, Rnk 34 / 127

2020
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GDP
: $21.7B, CURRENT US$
Rnk 108 / 195

2010-2020
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GDP GROWTH
: 57.9%, CURRENT US$
Rnk 47 / 195

2020
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 GDP
: $1.28T, CURRENT US$
Rnk 14 / 195

2010-2020
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GDP GROWTH
: -9.8%, CURRENT US$
Rnk 174 / 195

2020
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GDP PC 
: $59,270, CURRENT US$
Rnk 11 / 195

2010-2020
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GDP PC GROWTH
: 37.1%, CURRENT US$
Rnk 44 / 195

2020
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GDP PC
: $27,063, CURRENT US$
Rnk 36 / 195

2010-2020
Flag
GDP PC GROWTH
: -11.3%, CURRENT US$
Rnk 164 / 195

Iceland-Spain In 2020, Iceland exported $796M to Spain. The main products that Iceland exported to Spain are Raw Aluminium ($439M), Aluminium Wire ($129M), and Processed Fish ($78.1M). During the last 25 years the exports of Iceland to Spain have increased at an annualized rate of 10.3%, from $69.3M in 1995 to $796M in 2020.

In 2018, Iceland exported services to Spain worth $119M, with Travel ($85M), Transportation ($28.1M), and Computer and information services ($1.89M) being the largest in terms of value.

Spain-Iceland In 2020, Spain exported $99.6M to Iceland . The main products that Spain exported to Iceland were Gas Turbines ($20.4M), Other Engines ($9.43M), and Aluminium Oxide ($7.97M). During the last 25 years the exports of Spain to Iceland have increased at an annualized rate of 3.74%, from $39.8M in 1995 to $99.6M in 2020.

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 2020,  Iceland ranked 112 in total exports ($5.18B), and does not have data regarding Economic Complexity Index. That same year, Spain ranked 34 in the Economic Complexity Index (ECI 0.76), and 17 in total exports ($298B).

Historical Data

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Bilateral Trade by Products

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Depth
Value
Compare to

In 2020, Iceland exported $796M to Spain. The main products exported from Iceland to Spain were Raw Aluminium ($439M), Aluminium Wire ($129M), and Processed Fish ($78.1M). During the last 25 years the exports of Iceland to Spain have increased at an annualized rate of 10.3%, from $69.3M in 1995 to $796M in 2020.

In 2020, Spain exported $99.6M to Iceland. The main products exported from Spain to Iceland were Gas Turbines ($20.4M), Other Engines ($9.43M), and Aluminium Oxide ($7.97M). During the last 25 years the exports of Spain to Iceland have increased at an annualized rate of 3.74%, from $39.8M in 1995 to $99.6M in 2020.

Iceland Exports

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Market Competitiveness

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Measure

Iceland
Top Destination
: Netherlands, $931M

Spain
Top Destination
: France, $47.6B

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 2019, countries that imported more from Iceland than Spain were Wallis and Futuna ($235k).

In 2019, countries that imported more from Spain than Iceland were France ($47.6B), Germany ($34B), and Portugal ($23.8B).

Comparative Advantage Iceland - Spain

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Flow

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

During 2020, Iceland had a large net trade with Spain in the exports of Metals ($632M), Animal Products ($153M), and Machines ($4.44M).

During 2020, Spain had a large net trade with Iceland in the exports of Machines ($39.2M), Vegetable Products ($12M), and Chemical Products ($11.1M).

Tariff Section

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This section shows import tariffs for products traded between Iceland and Spain (using the HS6 product classification and the last year reported).

In 2019, the products from Iceland that paid the highest import tariffs to enter Spain were Milk and cream unsweetened, concentrated (661%)and Birds' eggs, in shell: fresh, not for incubation, other than fowls of the species Gallus domesticus (domestic hens) (464%).

In 2019, the products from Spain that paid the highest import tariffs to enter Iceland were Whey (164%)and Milk and cream unsweetened, concentrated (123%).

*The tariffs present between Iceland and Spain are:
136: Most Favoured Nation duty rate treatement
136: Most Favoured Nation duty rate treatement
216: Preferential tariff for European Economic Area
216: Preferential tariff for European Economic Area
218: Preferential tariff for European Union countries
218: Preferential tariff for European Union countries

Bilateral Service Trade

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Esp Year

In 2018, Iceland exported services to Spain worth $119M, with Travel ($85M), Transportation ($28.1M), and Computer and information services ($1.89M) 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 red.  This mean that the more blue a dot/product is, the more Iceland has comparative advantage over Spain. Similarly, the more red a dot/product is, the more Spain has comparative advantage over Iceland.