2022
Flag  
GDP
$252BCURRENT US$
Rnk 49 / 186
2012-2022
Flag
GDP GROWTH
16.5%CURRENT US$
Rnk 132 / 186
2022
Flag
 GDP
$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH
88.7%CURRENT US$
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2022
Flag
GDP PC 
$24,275CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
18%CURRENT US$
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2022
Flag
GDP PC
$72,903CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
58.5%CURRENT US$
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About

Portugal-Iceland Trade: In 2022, Portugal exported $28.8M to Iceland. The main products that Portugal exported to Iceland were Raw Iron Bars ($3M), Antibiotics ($2.6M), and Hot-Rolled Iron Bars ($1.74M). Over the past 5 years the exports of Portugal to Iceland have increased at an annualized rate of 3.75%, from $24M in 2017 to $28.8M in 2022.

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 2022, Iceland exported $95M to Portugal. The main products that Iceland exported to Portugal were Fish: dried, salted, smoked or in brine ($49.7M), Raw Aluminium ($19.2M), and Non-fillet Frozen Fish ($9.96M). Over the past 5 years the exports of Iceland to Portugal have increased at an annualized rate of 3.74%,  from $79.1M in 2017 to $95M in 2022.

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 2022,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57),  and 48 in total exports ($81.7B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Portugal exported $28.8M to Iceland. The main products exported from Portugal to Iceland were Raw Iron Bars ($3M), Antibiotics ($2.6M), and Hot-Rolled Iron Bars ($1.74M). During the last 5 years the exports of Portugal to Iceland have increased at an annualized rate of 3.75%, from $24M in 2017 to $28.8M in 2022.

In 2017, Iceland exported $95M to Portugal. The main products exported from Iceland to Portugal were Fish: dried, salted, smoked or in brine ($49.7M), Raw Aluminium ($19.2M), and Non-fillet Frozen Fish ($9.96M). During the last 5 years the exports of Iceland to Portugal have increased at an annualized rate of 3.74%, from $79.1M in 2022 to $95M in 2017.

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

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

Market Competitiveness

Color
Portugal
Top Destination
Spain$20.5B
Iceland
Top Destination
Netherlands$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 2022, countries that imported more from Portugal than Iceland included Spain ($20.5B), France ($9.49B), and Germany ($8.76B).

In 2022, countries that imported more from Iceland than Portugal included Norway ($459M), Nigeria ($69.3M), and Greenland ($28.2M).

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

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 2022, Portugal had a large net trade with Iceland in the exports of Metals ($6.33M), Textiles ($6.08M), and Chemical Products ($2.87M).

During 2017, Iceland had a large net trade with Portugal in the exports of Animal Products ($64.4M), Metals ($25.1M), and Mineral Products ($4.04M).

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) (2022)

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