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2023
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Exports $34.7BRnk 4 / 220
2023
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Top Product $5.05BCars
2023
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Exports $30.1BRnk 4 / 219
2023
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Top Product $1.92BRefined Petroleum
2023
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Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
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Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
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GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
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GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
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 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
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GDP GROWTH6.86%CURRENT US$
Rnk 165 / 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$39,003CURRENT US$
Rnk 32 / 196
2013-2023
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GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

Spain-Italy Trade: In 2023, Spain exported $34.7B to Italy. The main products that Spain exported to Italy were Cars ($5.05B), Pure Olive Oil ($1.13B), and Industrial Fatty Acids, Oils and Alcohols ($953M). Over the past 5 years the exports of Spain to Italy have increased at an annualized rate of 7.42%, from $24.3B in 2018 to $34.7B in 2023.

In 2020, Spain exported services to Italy worth $704M, with Travel ($704M) being the largest in terms of value.

Italy-Spain Trade: In 2023, Italy exported $30.1B to Spain. The main products that Italy exported to Spain were Refined Petroleum ($1.92B), Broadcasting Equipment ($1.41B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.28B). Over the past 5 years the exports of Italy to Spain have increased at an annualized rate of 3.38%,  from $25.5B in 2018 to $30.1B in 2023.

In 2020, Italy exported services to Spain worth $2.22B, with Travel ($774M), Other business services ($556M), and Transportation ($297M) being the largest in terms of value.

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Latest Trends

November, 2024

About

Overview In November 2024, Spain exported €2.63B and imported €2.49B from Italy, resulting in a positive trade balance of €137M. Between November 2023 and November 2024 the exports of Spain have decreased by €-291M (-9.96%) from €2.92B to €2.63B, while imports increased by €27.6M (1.12%) from €2.46B to €2.49B.

Trade In November 2024, the top exports of Spain to Italy were Cars (€348M), Petroleum Gas (€220M), Biodiesel and mixtures thereof (€115M), Tractors (€87.8M), and Pure Olive Oil (€45.1M). In November 2024 the top imports of Spain from Italy were Refined Petroleum (€171M), Motor vehicles; parts and accessories (8701... (€93.4M), Cars (€63.3M), Telephones (€58.3M), and Biodiesel and mixtures thereof (€49.9M).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€534M), Madrid (€308M), Pontevedra (€202M), A Coruña (€145M), and Tarragona (€98M), while imports destinations were mainly Barcelona (€635M), Madrid (€580M), Valencia (€147M), Tarragona (€94.6M), and Toledo (€86.2M).

Growth In November 2024, the decrease in Spain's year-by-year exports to Italy was explained primarily by an decrease in product exports in Refined Petroleum (€-59.3M or -73.1%), Pure Olive Oil (€-55.7M or -55.2%), and Commodities not elsewhere specified (€-15.6M or -61.4%). In November 2024, the increase in Spain's year-by-year imports  from Italy was explained primarily by an increase in product imports  in Motor vehicles; parts and accessories (8701... (€36M or 62.6%), Cars (€22.6M or 55.4%), and Crude Petroleum (€16.5M or 89.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€-291M(-9.96%)
IMPORT GROWTH (November 2023 - November 2024)€27.6M(1.12%)
MAIN EXPORTER (November 2024)Barcelona€534M

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 Italy and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Italy and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $34.7B to Italy. The main products exported from Spain to Italy were Cars ($5.05B), Pure Olive Oil ($1.13B), and Industrial Fatty Acids, Oils and Alcohols ($953M). During the last 5 years the exports of Spain to Italy have increased at an annualized rate of 7.42%, from $24.3B in 2018 to $34.7B in 2023.

In 2018, Italy exported $30.1B to Spain. The main products exported from Italy to Spain were Refined Petroleum ($1.92B), Broadcasting Equipment ($1.41B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.28B). During the last 5 years the exports of Italy to Spain have increased at an annualized rate of 3.38%, from $25.5B in 2023 to $30.1B in 2018.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Spain than Italy included Portugal ($38.1B), Morocco ($11.7B), and Panama ($2.36B).

In 2023, countries that imported more from Italy than Spain included United States ($70.9B), Germany ($71.4B), and Switzerland ($29.3B).

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

Comparative Advantage Spain - Italy

Flow
Scale

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

During 2023, Spain had a large net trade with Italy in the exports of Transportation ($6.98B), Chemical Products ($3.9B), and Metals ($3.39B).

During 2018, Italy had a large net trade with Spain in the exports of Machines ($7.01B), Transportation ($3.56B), and Chemical Products ($3.14B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Italy+$278MPackaged Medicaments
Top Product Potential Italy Spain+$329MPackaged Medicaments

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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Bilateral Service Trade

In 2020, Spain exported services to Italy worth $704M, with Travel ($704M) being the largest in terms of value.

In 2020, Italy exported services to Spain worth $2.22B, with Travel ($774M), Other business services ($556M), and Transportation ($297M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to Italy (Flag) (2020)

Services Exports from Italy (Flag) to Spain (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Spain and Italy. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Spain.

Product Space of Spain (Flag) and Italy (Flag) (2023)

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