2022
Flag  
GDP
$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP
$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
Flag
GDP GROWTH
5.49%CURRENT US$
Rnk 154 / 186
2022
Flag
GDP PC 
$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH
3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC
$29,350CURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP PC GROWTH
3.63%CURRENT US$
Rnk 132 / 186

About

Norway-Spain Trade: In 2022, Norway exported $2.49B to Spain. The main products that Norway exported to Spain were Non-fillet Fresh Fish ($619M), Crude Petroleum ($485M), and Raw Aluminium ($362M). Over the past 5 years the exports of Norway to Spain have decreased at an annualized rate of 3.14%, from $2.92B in 2017 to $2.49B in 2022.

In 2009, Norway exported services to Spain worth $399M, with Transportation ($161M), Other business services ($83.9M), and Financial services ($75.6M) being the largest in terms of value.

Spain-Norway Trade: In 2022, Spain exported $1.86B to Norway. The main products that Spain exported to Norway were Cars ($174M), Delivery Trucks ($167M), and Aluminium Oxide ($152M). Over the past 5 years the exports of Spain to Norway have increased at an annualized rate of 4.62%,  from $1.49B in 2017 to $1.86B in 2022.

In 2009, Spain exported services to Norway worth $2.84B, with Services not allocated ($1.61B), Travel ($1.12B), and Transportation ($112M) being the largest in terms of value.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $2.49B to Spain. The main products exported from Norway to Spain were Non-fillet Fresh Fish ($619M), Crude Petroleum ($485M), and Raw Aluminium ($362M). During the last 5 years the exports of Norway to Spain have decreased at an annualized rate of 3.14%, from $2.92B in 2017 to $2.49B in 2022.

In 2017, Spain exported $1.86B to Norway. The main products exported from Spain to Norway were Cars ($174M), Delivery Trucks ($167M), and Aluminium Oxide ($152M). During the last 5 years the exports of Spain to Norway have increased at an annualized rate of 4.62%, from $1.49B in 2022 to $1.86B in 2017.

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

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

Market Competitiveness

Color
Norway
Top Destination
Germany$78.1B
Spain
Top Destination
France$65.2B

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

In 2022, countries that imported more from Norway than Spain included Germany ($78.1B), United Kingdom ($59.1B), and Sweden ($17.7B).

In 2022, countries that imported more from Spain than Norway included France ($65.2B), Portugal ($34.9B), and Italy ($32.1B).

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

Comparative Advantage Norway - Spain

Flow
Scale

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

During 2022, Norway had a large net trade with Spain in the exports of Animal Products ($760M), Mineral Products ($712M), and Metals ($593M).

During 2017, Spain had a large net trade with Norway in the exports of Transportation ($485M), Chemical Products ($403M), and Machines ($219M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Spain+$405MCrude Petroleum
Top Product Potential Spain Norway+$115MCars

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 Norway and Spain. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Spain. Similarly, a dot/product with the flag of Spain indicates it has a comparative advantage over Norway.

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

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