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2022
Flag → Flag
Exports $136MRnk 98 / 218
2022
Flag → Flag
Top Product $11.7MRefined Petroleum
2022
Flag → Flag
Exports $319MRnk 8 / 160
2022
Flag → Flag
Top Product $86MDried/Salted/Smoked/Brined Fish
2022
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Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
Flag  
GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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GDP PC $29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186
2022
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GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Spain-Iceland Trade: 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). Over the past 5 years the exports of Spain to Iceland have increased at an annualized rate of 9.35%, from $87.1M in 2017 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.

Iceland-Spain Trade: In 2022, Iceland exported $319M to Spain. The main products that Iceland exported to Spain were Dried/Salted/Smoked/Brined Fish ($86M), Raw Aluminium ($82.4M), and Fish Fillets ($80.6M). Over the past 5 years the exports of Iceland to Spain have decreased at an annualized rate of 13%,  from $640M in 2017 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.

Comparison In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81),  and 20 in total exports ($394B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

September, 2024

About

Overview In September 2024, Spain exported €4.11M and imported €10.7M from Iceland, resulting in a negative trade balance of €6.57M. Between September 2023 and September 2024 the exports of Spain have decreased by €-1.26M (-23.5%) from €5.37M to €4.11M, while imports decreased by €-486k (-4.35%) from €11.2M to €10.7M.

Trade In September 2024, the top exports of Spain to Iceland were Cars (€2.48M), Delivery Trucks (€559k), Wine (€203k), Insulated Wire (€144k), and Live Fish (€107k). In September 2024 the top imports of Spain from Iceland were Fish Fillets (€8.89M), Dried/Salted/Smoked/Brined Fish (€3.92M), Raw Aluminium (€2.16M), Non-fillet Fresh Fish (€743k), and Non-fillet Frozen Fish (€321k).

Origins In September 2024 the exports of Spain were mainly from A Coruña (€714k), Pontevedra (€468k), Barcelona (€422k), Álava (€293k), and Guipúzcoa (€215k), while imports destinations were mainly Barcelona (€4.18M), La Rioja (€1.56M), Pontevedra (€979k), Teruel (€867k), and Madrid (€560k).

Growth In September 2024, the decrease in Spain's year-by-year exports to Iceland was explained primarily by an decrease in product exports in Raw Plastic Sheeting (€-87.4k or -71.2%), Unglazed Ceramics (€-79.4k or -98.6%), and Commodities not elsewhere specified (€-52.1k or -39.5%). In September 2024, the decrease in Spain's year-by-year imports  from Iceland was explained primarily by an decrease in product imports  in Computers (€-10.1k or -91.1%), Medical Instruments (€-9.2k or -54.6%), and Trunks and Cases (€-3.2k or -82.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)€-1.26M(-23.5%)
IMPORT GROWTH (September 2023 - September 2024)€-486k(-4.35%)
MAIN EXPORTER (September 2024)A Coruña€714k

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 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 5 years the exports of Spain to Iceland have increased at an annualized rate of 9.35%, from $87.1M in 2017 to $136M in 2022.

In 2017, Iceland exported $319M to Spain. The main products exported from Iceland to Spain were Dried/Salted/Smoked/Brined Fish ($86M), Raw Aluminium ($82.4M), and Fish Fillets ($80.6M). During the last 5 years the exports of Iceland to Spain have decreased at an annualized rate of 13%, from $640M in 2022 to $319M in 2017.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
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 2022, countries that imported more from Spain than Iceland included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

In 2022, countries that imported more from Iceland than Spain included Greenland ($28.2M), Wallis and Futuna ($3.54M), and Bhutan ($549k).

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

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 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).

During 2017, Iceland had a large net trade with Spain in the exports of Animal Products ($187M), Metals ($112M), and Foodstuffs ($6.32M).

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) (2022)

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