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2023
Flag → Flag
Exports $388MRnk 73 / 220
2023
Flag → Flag
Top Product $50.8MPackaged Medicaments
2023
Flag → Flag
Exports $606MRnk 19 / 159
2023
Flag → Flag
Top Product $570MRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
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Economic Complexity (ECI) ECI 0.21Rnk 53 / 132
2023
Flag  
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$164BCURRENT US$
Rnk 58 / 195
2013-2023
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GDP GROWTH-6.01%CURRENT US$
Rnk 178 / 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$33,730CURRENT US$
Rnk 39 / 196
2013-2023
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GDP PC GROWTH-32.1%CURRENT US$
Rnk 187 / 195

About

Spain-Kuwait Trade: In 2023, Spain exported $388M to Kuwait. The main products that Spain exported to Kuwait were Packaged Medicaments ($50.8M), Explosive Ammunition ($21.6M), and Unglazed Ceramics ($20.2M). Over the past 5 years the exports of Spain to Kuwait have decreased at an annualized rate of 4.86%, from $498M in 2018 to $388M in 2023.

In 2023, Spain did not export any services to Kuwait.

Kuwait-Spain Trade: In 2023, Kuwait exported $606M to Spain. The main products that Kuwait exported to Spain were Refined Petroleum ($570M), Gas Turbines ($11.6M), and Cyclic Hydrocarbons ($9.94M). Over the past 5 years the exports of Kuwait to Spain have increased at an annualized rate of 47.5%,  from $86.8M in 2018 to $606M in 2023.

In 2023, Kuwait did not export any services to Spain.

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). That same year, Kuwait ranked 53 in the Economic Complexity Index (ECI 0.21), and 47 in total exports ($71B).

Latest Trends

November, 2024

About

Overview In November 2024, Spain exported €16.8M and imported €23M from Kuwait, resulting in a negative trade balance of €6.14M. Between November 2023 and November 2024 the exports of Spain have decreased by €-2.26M (-11.8%) from €19.1M to €16.8M, while imports decreased by €-11.5M (-33.3%) from €34.4M to €23M.

Trade In November 2024, the top exports of Spain to Kuwait were Non-Knit Women's Suits (€1.48M), Computers (€1.3M), Knit Sweaters (€1.21M), Unglazed Ceramics (€1.07M), and Building Stone (€933k). In November 2024 the top imports of Spain from Kuwait were Ethylene Polymers (€1.24M), Iron Pipes (€154k), Sodium or Potassium Peroxides (€113k), Commodities not elsewhere specified (€50.1k), and Textile Footwear (€15.7k).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€4.23M), Madrid (€2.12M), Murcia (€1.81M), Castellón (€971k), and Navarra (€773k), while imports destinations were mainly Vizcaya (€21.2M), Alicante (€815k), Huelva (€519k), Huesca (€183k), and Barcelona (€122k).

Growth In November 2024, the decrease in Spain's year-by-year exports to Kuwait was explained primarily by an decrease in product exports in Perfumes (€-969k or -68.5%), Sports Equipment (€-707k or -87.7%), and Delivery Trucks (€-548k or -98.4%). In November 2024, the decrease in Spain's year-by-year imports  from Kuwait was explained primarily by an decrease in product imports  in Electrical Transformers (€-707 or -73.6%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€-2.26M(-11.8%)
IMPORT GROWTH (November 2023 - November 2024)€-11.5M(-33.3%)
MAIN EXPORTER (November 2024)Barcelona€4.23M

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 Kuwait and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $388M to Kuwait. The main products exported from Spain to Kuwait were Packaged Medicaments ($50.8M), Explosive Ammunition ($21.6M), and Unglazed Ceramics ($20.2M). During the last 5 years the exports of Spain to Kuwait have decreased at an annualized rate of 4.86%, from $498M in 2018 to $388M in 2023.

In 2018, Kuwait exported $606M to Spain. The main products exported from Kuwait to Spain were Refined Petroleum ($570M), Gas Turbines ($11.6M), and Cyclic Hydrocarbons ($9.94M). During the last 5 years the exports of Kuwait to Spain have increased at an annualized rate of 47.5%, from $86.8M in 2023 to $606M in 2018.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Kuwait
Top DestinationChina$17.4B

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

In 2023, countries that imported more from Spain than Kuwait included France ($61.9B), Germany ($40.2B), and Portugal ($38.1B).

In 2023, countries that imported more from Kuwait than Spain included China ($17.4B), India ($9.51B), and Japan ($9.13B).

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

Comparative Advantage Spain - Kuwait

Flow
Scale

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

During 2023, Spain had a large net trade with Kuwait in the exports of Chemical Products ($106M), Machines ($44.4M), and Foodstuffs ($42.4M).

During 2018, Kuwait had a large net trade with Spain in the exports of Mineral Products ($570M), Machines ($11.9M), and Chemical Products ($10.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Kuwait+$23.2MCars
Top Product Potential Kuwait Spain+$75.2MRefined Petroleum

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

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

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