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2023
Flag → Flag
Exports $16.7MRnk 153 / 220
2023
Flag → Flag
Top Product $8.81MSoups and Broths
2023
Flag → Flag
Exports $140kRnk 36 / 92
2023
Flag → Flag
Top Product $129kInsect Resins
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
Flag  
GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
Flag
GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
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 GDP$11BCURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP GROWTH117%CURRENT US$
Rnk 8 / 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$597CURRENT US$
Rnk 191 / 196
2013-2023
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GDP PC GROWTH51.9%CURRENT US$
Rnk 45 / 195

About

Spain-Somalia Trade: In 2023, Spain exported $16.7M to Somalia. The main products that Spain exported to Somalia were Soups and Broths ($8.81M), Other Edible Preparations ($1.66M), and Used Clothing ($1.25M). Over the past 5 years the exports of Spain to Somalia have increased at an annualized rate of 9.54%, from $10.6M in 2018 to $16.7M in 2023.

In 2023, Spain did not export any services to Somalia.

Somalia-Spain Trade: In 2023, Somalia exported $140k to Spain. The main products that Somalia exported to Spain were Insect Resins ($129k), Essential Oils ($10.2k), and Shaving Products ($313). Over the past 5 years the exports of Somalia to Spain have decreased at an annualized rate of 35.1%,  from $1.21M in 2018 to $140k in 2023.

In 2023, Somalia did not export any services to Spain.

Comparison In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86),  and 16 in total exports ($402B). That same year, Somalia ranked 161 in total exports ($1.03B), and does not have data regarding Economic Complexity Index.

Latest Trends

November, 2024

About

Overview In November 2024, Spain exported €1.17M and imported €420 from Somalia, resulting in a positive trade balance of €1.17M. Between November 2023 and November 2024 the exports of Spain have decreased by €-750k (-39.1%) from €1.92M to €1.17M, while imports increased by €125 (42.2%) from €295 to €420.

Trade In November 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 November 2024 the top imports of Spain from Somalia were Knit Socks and Hosiery (€94.2).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€851k), Lugo (€146k), Orense (€126k), Granada (€25.4k), and Sevilla (€8k), while imports destinations were mainly N/A.

Growth In November 2024, the decrease in Spain's year-by-year exports to Somalia was explained primarily by an decrease in product exports in Laboratory Reagents (€-12.8k or -50.5%), Chemical Analysis Instruments (€-3.99k or -73.8%), and Commodities not elsewhere specified (€-33.9 or -99.5%). In October 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 (November 2023 - November 2024)€-750k(-39.1%)
IMPORT GROWTH (October 2023 - October 2024)€125(42.2%)
MAIN EXPORTER (November 2024)Barcelona€851k

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 2023, Spain exported $16.7M to Somalia. The main products exported from Spain to Somalia were Soups and Broths ($8.81M), Other Edible Preparations ($1.66M), and Used Clothing ($1.25M). During the last 5 years the exports of Spain to Somalia have increased at an annualized rate of 9.54%, from $10.6M in 2018 to $16.7M in 2023.

In 2018, Somalia exported $140k to Spain. The main products exported from Somalia to Spain were Insect Resins ($129k), Essential Oils ($10.2k), and Shaving Products ($313). During the last 5 years the exports of Somalia to Spain have decreased at an annualized rate of 35.1%, from $1.21M in 2023 to $140k in 2018.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Somalia
Top DestinationUnited Arab Emirates$360M

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

In 2023, countries that imported more from Somalia than Spain included Djibouti ($84.2M).

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

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 2023, Spain had a large net trade with Somalia in the exports of Foodstuffs ($10.6M), Animal and Vegetable Bi-Products ($1.83M), and Animal Products ($1.35M).

During 2018, Somalia had a large net trade with Spain in the exports of Vegetable Products ($129k), Chemical Products ($10.5k), and Stone And Glass ($281).

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) (2023)

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