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2023
Flag → Flag
Exports $160MRnk 97 / 220
2023
Flag → Flag
Top Product $13.5MRefined Petroleum
2023
Flag → Flag
Exports $286MRnk 7 / 157
2023
Flag → Flag
Top Product $109MFish Fillets
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
Flag  
GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
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GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
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 GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
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GDP PC $33,509CURRENT US$
Rnk 40 / 195
2013-2023
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GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195
2023
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GDP PC$79,637CURRENT US$
Rnk 11 / 196
2013-2023
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GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195

About

Spain-Iceland Trade: In 2023, Spain exported $160M to Iceland. The main products that Spain exported to Iceland were Refined Petroleum ($13.5M), Cars ($9.12M), and Insulated Wire ($9.11M). Over the past 5 years the exports of Spain to Iceland have increased at an annualized rate of 4.74%, from $127M in 2018 to $160M in 2023.

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

Iceland-Spain Trade: In 2023, Iceland exported $286M to Spain. The main products that Iceland exported to Spain were Fish Fillets ($109M), Raw Aluminium ($79.8M), and Dried/Salted/Smoked/Brined Fish ($49.7M). Over the past 5 years the exports of Iceland to Spain have decreased at an annualized rate of 6.79%,  from $407M in 2018 to $286M in 2023.

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.

Comparison In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86),  and 16 in total exports ($402B). That same year, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2024

About

Overview In December 2024, Spain exported €3.59M and imported €13.2M from Iceland, resulting in a negative trade balance of €9.66M. Between December 2023 and December 2024 the exports of Spain have decreased by €-1.62M (-31.1%) from €5.21M to €3.59M, while imports decreased by €-6.98M (-34.5%) from €20.2M to €13.2M.

Trade In December 2024, the top exports of Spain to Iceland were Coal Briquettes (€751k), Pure Olive Oil (€603k), Quartz (€402k), Cars (€377k), and Salt (€315k). In December 2024 the top imports of Spain from Iceland were Fish Fillets (€9.45M), Dried/Salted/Smoked/Brined Fish (€4.55M), Raw Aluminium (€1.95M), Packaged Medicaments (€501k), and Non-fillet Fresh Fish (€299k).

Origins In December 2024 the exports of Spain were mainly from Alicante (€580k), Palencia (€550k), Cáceres (€354k), Valencia (€329k), and Barcelona (€257k), while imports destinations were mainly Barcelona (€6.21M), Madrid (€2.07M), La Rioja (€1.64M), Pontevedra (€835k), and Tarragona (€597k).

Growth In December 2024, the decrease in Spain's year-by-year exports to Iceland was explained primarily by an decrease in product exports in Cars (€-2.1M or -84.8%), Delivery Trucks (€-522k or -93.4%), and Household Washing Machines (€-75k or -95.7%). In December 2024, the decrease in Spain's year-by-year imports  from Iceland was explained primarily by an decrease in product imports  in Non-fillet Fresh Fish (€-444k or -59.7%), Raw Aluminium (€-214k or -9.93%), and Non-fillet Frozen Fish (€-200k or -62.2%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)€-1.62M(-31.1%)
IMPORT GROWTH (December 2023 - December 2024)€-6.98M(-34.5%)
MAIN EXPORTER (December 2024)Alicante€580k

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

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

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $160M to Iceland. The main products exported from Spain to Iceland were Refined Petroleum ($13.5M), Cars ($9.12M), and Insulated Wire ($9.11M). During the last 5 years the exports of Spain to Iceland have increased at an annualized rate of 4.74%, from $127M in 2018 to $160M in 2023.

In 2018, Iceland exported $286M to Spain. The main products exported from Iceland to Spain were Fish Fillets ($109M), Raw Aluminium ($79.8M), and Dried/Salted/Smoked/Brined Fish ($49.7M). During the last 5 years the exports of Iceland to Spain have decreased at an annualized rate of 6.79%, from $407M in 2023 to $286M in 2018.

Exports from Spain (Flag) to Iceland (Flag) (2023)

Exports from Iceland (Flag) to Spain (Flag) (2023)

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Spain than Iceland included France ($61.9B), Germany ($40.2B), and Portugal ($38.1B).

In 2023, countries that imported more from Iceland than Spain included Bahamas ($25M) and Montserrat ($65.3k).

Difference in imports from Iceland (Flag) and Spain (Flag) (2023)

Comparative Advantage Spain - Iceland

Flow
Scale

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

During 2023, Spain had a large net trade with Iceland in the exports of Machines ($24.5M), Mineral Products ($24.1M), and Foodstuffs ($17.8M).

During 2018, Iceland had a large net trade with Spain in the exports of Animal Products ($173M), Metals ($100M), and Chemical Products ($4.31M).

Bilateral Service Trade

Esp Year

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

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.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Spain (Flag) and Iceland (Flag) (2023)

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