Crude Petroleum in Spain | The Observatory of Economic Complexity

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Exports In 2022, Spain exported $1.07B in Crude Petroleum, making it the 40th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 68th most exported product in Spain. The main destination of Crude Petroleum exports from Spain are: India ($680M), France ($301M), Italy ($57.7M), Poland ($24.5M), and Lithuania ($5.51M).

The fastest growing export markets for Crude Petroleum of Spain between 2021 and 2022 were India ($680M), France ($121M), and Poland ($24.5M).

Imports In 2022, Spain imported $42.6B in Crude Petroleum, becoming the 8th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most imported product in Spain. Spain imports Crude Petroleum primarily from: Nigeria ($6.72B), United States ($5.5B), Brazil ($3.57B), Libya ($3.35B), and Mexico ($3.26B).

The fastest growing import markets in Crude Petroleum for Spain between 2021 and 2022 were United States ($3.38B), Brazil ($2.5B), and Iraq ($1.45B).

Latest Trends

February 2024

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Overview In February 2024 Spain's Crude Petroleum exports accounted up to €220M and imports accounted up to €2.87B, resulting in a negative trade balance of €2.65B. Between February 2023 and February 2024 the exports of Spain's Crude Petroleum have increased by €159M (261%) from €60.9M to €220M, while imports increased by €119M (4.32%) from €2.75B to €2.87B.

Destinations In February 2024, Crude Petroleum were exported mostly to France (€160M), Italy (€30.4M), Slovenia (€24.7M), Portugal (€5.1M), and Colombia (€3.21k), and were imported mostly from Nigeria (€637M), United States (€628M), Mexico (€467M), Libya (€254M), and Brazil (€184M).

Growth In February 2024, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to France (€65.4M or 326%). In February 2024, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from Kazakhstan (€181M or 121%), Mexico (€150M or 55%), and Azerbaijan (€80.5M or 110%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)€159M(261%)

IMPORT GROWTH (February 2023 - February 2024)€119M(4.32%)

MAIN EXPORTER (February 2024)Murcia€107M

MAIN DESTINATION (February 2024)France€160M

This section shows Crude Petroleum's exports and imports data at subnational level for Spain. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Crude Petroleum over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$1.07B

IMPORTS (2022)$42.6B

NET TRADE (2022)-$41.5B

In 2022, Spain exported $1.07B in Crude Petroleum. The main destinations of Spain exports on Crude Petroleum were India ($680M), France ($301M), Italy ($57.7M), Poland ($24.5M), and Lithuania ($5.51M).

In 2022, Spain imported $42.6B in Crude Petroleum, mainly from Nigeria ($6.72B), United States ($5.5B), Brazil ($3.57B), Libya ($3.35B), and Mexico ($3.26B).

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