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2022
Flag → Flag
Exports $28.8MRnk 85 / 208
2022
Flag → Flag
Top Product $3MRaw Iron Bars
2022
Flag → Flag
Exports $95MRnk 14 / 160
2022
Flag → Flag
Top Product $49.7MFish: dried, salted, smoked or in brine
2022
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
Flag  
GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
Flag
GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
Flag
 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC $24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186
2022
Flag
GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Portugal-Iceland Trade: In 2022, Portugal exported $28.8M to Iceland. The main products that Portugal exported to Iceland were Raw Iron Bars ($3M), Antibiotics ($2.6M), and Hot-Rolled Iron Bars ($1.74M). Over the past 5 years the exports of Portugal to Iceland have increased at an annualized rate of 3.75%, from $24M in 2017 to $28.8M in 2022.

In 2020, Portugal exported services to Iceland worth $3.43M, with Travel ($3.43M) being the largest in terms of value.

Iceland-Portugal Trade: In 2022, Iceland exported $95M to Portugal. The main products that Iceland exported to Portugal were Fish: dried, salted, smoked or in brine ($49.7M), Raw Aluminium ($19.2M), and Non-fillet Frozen Fish ($9.96M). Over the past 5 years the exports of Iceland to Portugal have increased at an annualized rate of 3.74%,  from $79.1M in 2017 to $95M in 2022.

In 2019, Iceland exported services to Portugal worth $10.1M, with Travel ($7.72M), Transportation ($1.46M), and Computer and information services ($448k) being the largest in terms of value.

Comparison In 2022,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57),  and 48 in total exports ($81.7B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

August, 2024

About

Overview In August 2024, Portugal exported €1.56M and imported €70.2k from Iceland, resulting in a positive trade balance of €1.49M. Between August 2023 and August 2024 the exports of Portugal have increased by €749k (92.4%) from €810k to €1.56M, while imports decreased by €-45.5k (-39.3%) from €116k to €70.2k.

Trade In August 2024, the top exports of Portugal to Iceland were Footwear (€117k), Iron or steel articles (€112k), Wadding, felt, nonwovens, twin, ropes, &... (€65.6k), Stone, plaster, cement, asbestos, mica. (€53.5k), and Knitted clothing accesories (€52.5k). In August 2024 the top imports of Portugal from Iceland were Fish, crustaceans, & molluscs (€622k), Raw hides & skin (non-fur) (€32.9k), Pharmaceutical products (€5.24k), Oils seeds, oleaginous fruits, grains, straw... (€2.07k), and Paints, dyes, & varnishes (€1.78k).

Growth In August 2024, the increase in Portugal's year-by-year exports to Iceland was explained primarily by an increase in product exports in Iron or steel articles (€110k or 5.3k%), Wadding, felt, nonwovens, twin, ropes, &... (€61.8k or 1.61k%), and Stone, plaster, cement, asbestos, mica. (€24.5k or 84.4%). In August 2024, the decrease in Portugal's year-by-year imports  from Iceland was explained primarily by an decrease in product imports  in Used clothes & textile articles (€-8.17k or -100%), Oils seeds, oleaginous fruits, grains, straw... (€-980 or -32.1%), and Edible vegetables, roots, & tubers (€-156 or -100%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)€749k(92.4%)
IMPORT GROWTH (August 2023 - August 2024)€-45.5k(-39.3%)

This section shows exports and imports data at subnational level for Portugal. Click any date in the line plot or any product to explore the exports or imports behavior of Portugal over time.

To check Iceland and Portugal trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Iceland and Portugal Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Portugal exported $28.8M to Iceland. The main products exported from Portugal to Iceland were Raw Iron Bars ($3M), Antibiotics ($2.6M), and Hot-Rolled Iron Bars ($1.74M). During the last 5 years the exports of Portugal to Iceland have increased at an annualized rate of 3.75%, from $24M in 2017 to $28.8M in 2022.

In 2017, Iceland exported $95M to Portugal. The main products exported from Iceland to Portugal were Fish: dried, salted, smoked or in brine ($49.7M), Raw Aluminium ($19.2M), and Non-fillet Frozen Fish ($9.96M). During the last 5 years the exports of Iceland to Portugal have increased at an annualized rate of 3.74%, from $79.1M in 2022 to $95M in 2017.

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

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

Market Competitiveness

Color
Portugal
Top DestinationSpain$20.5B
Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Portugal than Iceland included Spain ($20.5B), France ($9.49B), and Germany ($8.76B).

In 2022, countries that imported more from Iceland than Portugal included Norway ($459M), Nigeria ($69.3M), and Greenland ($28.2M).

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

Comparative Advantage Portugal - Iceland

Flow
Scale

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

During 2022, Portugal had a large net trade with Iceland in the exports of Metals ($6.33M), Textiles ($6.08M), and Chemical Products ($2.87M).

During 2017, Iceland had a large net trade with Portugal in the exports of Animal Products ($64.4M), Metals ($25.1M), and Mineral Products ($4.04M).

Bilateral Service Trade

In 2020, Portugal exported services to Iceland worth $3.43M, with Travel ($3.43M) being the largest in terms of value.

In 2019, Iceland exported services to Portugal worth $10.1M, with Travel ($7.72M), Transportation ($1.46M), and Computer and information services ($448k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Portugal (Flag) to Iceland (Flag) (2020)

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

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Portugal and Iceland. This means that a dot/product with the flag of Portugal indicates it has a comparative advantage over Iceland. Similarly, a dot/product with the flag of Iceland indicates it has a comparative advantage over Portugal.

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

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