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2023
Flag → Flag
Exports $37.7MRnk 82 / 211
2023
Flag → Flag
Top Product $4.31MElectrical Control Boards
2023
Flag → Flag
Exports $49.8MRnk 20 / 157
2023
Flag → Flag
Top Product $23MRaw Aluminium
2023
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
Flag  
GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
Flag
GDP GROWTH27.5%CURRENT US$
Rnk 119 / 195
2023
Flag
 GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 195
2023
Flag
GDP PC $27,331CURRENT US$
Rnk 50 / 195
2013-2023
Flag
GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195
2023
Flag
GDP PC$79,637CURRENT US$
Rnk 11 / 196
2013-2023
Flag
GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195

About

Portugal-Iceland Trade: In 2023, Portugal exported $37.7M to Iceland. The main products that Portugal exported to Iceland were Electrical Control Boards ($4.31M), Leather Footwear ($2.86M), and Other Fruits ($1.86M). Over the past 5 years the exports of Portugal to Iceland have increased at an annualized rate of 7.54%, from $26.2M in 2018 to $37.7M in 2023.

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 2023, Iceland exported $49.8M to Portugal. The main products that Iceland exported to Portugal were Raw Aluminium ($23M), Non-fillet Fresh Fish ($8.59M), and Dried/Salted/Smoked/Brined Fish ($6.96M). Over the past 5 years the exports of Iceland to Portugal have increased at an annualized rate of 2.36%,  from $43.3M in 2018 to $49.8M in 2023.

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 2023,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57),  and 46 in total exports ($83B). That same year, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

November, 2024

About

Overview In November 2024, Portugal exported €1.41M and imported €924k from Iceland, resulting in a positive trade balance of €486k. Between November 2023 and November 2024 the exports of Portugal have increased by €259k (22.5%) from €1.15M to €1.41M, while imports decreased by €-1.03M (-52.7%) from €1.95M to €924k.

Trade In November 2024, the top exports of Portugal to Iceland were Footwear (€117k), Iron/Steel Articles (€112k), Wadding, felt, nonwovens, twin, ropes, &... (€65.6k), Stone, plaster, cement, asbestos, mica. (€53.5k), and Knitted clothing accesories (€52.5k). In November 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 November 2024, the increase in Portugal's year-by-year exports to Iceland was explained primarily by an increase in product exports in Iron/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 November 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 (November 2023 - November 2024)€259k(22.5%)
IMPORT GROWTH (November 2023 - November 2024)€-1.03M(-52.7%)

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

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Portugal exported $37.7M to Iceland. The main products exported from Portugal to Iceland were Electrical Control Boards ($4.31M), Leather Footwear ($2.86M), and Other Fruits ($1.86M). During the last 5 years the exports of Portugal to Iceland have increased at an annualized rate of 7.54%, from $26.2M in 2018 to $37.7M in 2023.

In 2018, Iceland exported $49.8M to Portugal. The main products exported from Iceland to Portugal were Raw Aluminium ($23M), Non-fillet Fresh Fish ($8.59M), and Dried/Salted/Smoked/Brined Fish ($6.96M). During the last 5 years the exports of Iceland to Portugal have increased at an annualized rate of 2.36%, from $43.3M in 2023 to $49.8M in 2018.

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

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

Market Competitiveness

Color
Portugal
Top DestinationSpain$17.7B
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 2023, countries that imported more from Portugal than Iceland included Spain ($17.7B), France ($9.19B), and Germany ($8.12B).

In 2023, countries that imported more from Iceland than Portugal included Norway ($444M), Greenland ($72.3M), and Bahamas ($25M).

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

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 2023, Portugal had a large net trade with Iceland in the exports of Textiles ($8.42M), Machines ($6.62M), and Footwear and Headwear ($3.18M).

During 2018, Iceland had a large net trade with Portugal in the exports of Metals ($27M), Animal Products ($21.7M), and Chemical Products ($449k).

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) (2023)

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