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Pricing

2022
Flag → Flag
Exports $17MRnk 152 / 218
2022
Flag → Flag
Top Product $9.18MSoups and Broths
2022
Flag → Flag
Exports $1.66MRnk 17 / 95
2022
Flag → Flag
Top Product $1.43MInsect Resins
2022
Flag
Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
Flag  
GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
Flag
GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
Flag
 GDP$8.13BCURRENT US$
Rnk 148 / 186
2012-2022
Flag
GDP GROWTH0%CURRENT US$
Rnk 165 / 186
2022
Flag
GDP PC $29,350CURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186
2022
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GDP PC$462CURRENT US$
Rnk 183 / 186
2012-2022
Flag
GDP PC GROWTH0%CURRENT US$
Rnk 143 / 186

About

Spain-Somalia Trade: In 2022, Spain exported $17M to Somalia. The main products that Spain exported to Somalia were Soups and Broths ($9.18M), Potato Flours ($1.7M), and Soybean Oil ($1.28M). Over the past 5 years the exports of Spain to Somalia have increased at an annualized rate of 5.55%, from $13M in 2017 to $17M in 2022.

In 2022, Spain did not export any services to Somalia.

Somalia-Spain Trade: In 2022, Somalia exported $1.66M to Spain. The main products that Somalia exported to Spain were Insect Resins ($1.43M), Other Oily Seeds ($204k), and Dried Vegetables ($9.53k). Over the past 5 years the exports of Somalia to Spain have increased at an annualized rate of 67.4%,  from $126k in 2017 to $1.66M in 2022.

In 2022, Somalia did not export any services to Spain.

Comparison In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81),  and 20 in total exports ($394B). That same year, Somalia ranked 167 in total exports ($569M), and does not have data regarding Economic Complexity Index.

Latest Trends

July, 2024

About

Overview In July 2024, Spain exported €1.29M and imported €207 from Somalia, resulting in a positive trade balance of €1.29M. Between July 2023 and July 2024 the exports of Spain have increased by €258k (25%) from €1.03M to €1.29M, while imports increased by €32.3 (18.5%) from €174 to €207.

Trade In July 2024, the top exports of Spain to Somalia were Soups and Broths (€693k), Soybean Oil (€137k), Pure Olive Oil (€72.5k), Used Clothing (€62.7k), and Honey (€40.4k). In July 2024 the top imports of Spain from Somalia were Knit Socks and Hosiery (€94.2).

Origins In July 2024 the exports of Spain were mainly from Barcelona (€786k), Valencia (€134k), Orense (€126k), Granada (€116k), and A Coruña (€55.2k), while imports destinations were mainly Barcelona (€207).

Growth In July 2024, the increase in Spain's year-by-year exports to Somalia was explained primarily by an increase in product exports in Used Clothing (€57.8k or 1.18k%) and Pure Olive Oil (€19.3k or 36.3%). In July 2024, the increase in Spain's year-by-year imports  from Somalia was explained primarily by an increase in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)€258k(25%)
IMPORT GROWTH (July 2023 - July 2024)€32.3(18.5%)
MAIN EXPORTER (July 2024)Barcelona€786k

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 Somalia and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Somalia and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $17M to Somalia. The main products exported from Spain to Somalia were Soups and Broths ($9.18M), Potato Flours ($1.7M), and Soybean Oil ($1.28M). During the last 5 years the exports of Spain to Somalia have increased at an annualized rate of 5.55%, from $13M in 2017 to $17M in 2022.

In 2017, Somalia exported $1.66M to Spain. The main products exported from Somalia to Spain were Insect Resins ($1.43M), Other Oily Seeds ($204k), and Dried Vegetables ($9.53k). During the last 5 years the exports of Somalia to Spain have increased at an annualized rate of 67.4%, from $126k in 2022 to $1.66M in 2017.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Somalia
Top DestinationUnited Arab Emirates$283M

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

In 2022, countries that imported more from Spain than Somalia included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

In 2022, no countries were registered that imported more from Somalia than from Spain.

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

Comparative Advantage Spain - Somalia

Flow
Scale

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

During 2022, Spain had a large net trade with Somalia in the exports of Foodstuffs ($9.46M), Vegetable Products ($2.28M), and Animal and Vegetable Bi-Products ($2.16M).

During 2017, Somalia had a large net trade with Spain in the exports of Vegetable Products ($1.65M), Machines ($5.5k), and Foodstuffs ($3.86k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Somalia+$823kCars
Top Product Potential Somalia Spain+$282kOther Oily Seeds

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

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

Product Space of Spain (Flag) and Somalia (Flag) (2022)

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