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2022
Flag → Flag
Exports $34.9BRnk 3 / 218
2022
Flag → Flag
Top Product $2.63BElectricity
2022
Flag → Flag
Exports $20.5BRnk 1 / 208
2022
Flag → Flag
Top Product $1.35BMotor vehicles; parts and accessories (8701 to 8705)
2022
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Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
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Economic Complexity (ECI) ECI 0.57Rnk 42 / 133
2022
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GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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 GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
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GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
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GDP PC $29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186
2022
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GDP PC$24,275CURRENT US$
Rnk 46 / 186
2012-2022
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GDP PC GROWTH18%CURRENT US$
Rnk 94 / 186

About

Spain-Portugal Trade: In 2022, Spain exported $34.9B to Portugal. The main products that Spain exported to Portugal were Electricity ($2.63B), Refined Petroleum ($1.62B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.19B). Over the past 5 years the exports of Spain to Portugal have increased at an annualized rate of 7.51%, from $24.3B in 2017 to $34.9B in 2022.

In 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

Portugal-Spain Trade: In 2022, Portugal exported $20.5B to Spain. The main products that Portugal exported to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.35B), Electricity ($752M), and Refined Petroleum ($641M). Over the past 5 years the exports of Portugal to Spain have increased at an annualized rate of 5.22%,  from $15.1B in 2017 to $20.5B in 2022.

In 2020, Portugal exported services to Spain worth $3.15B, with Travel ($1.15B), Transportation ($1.11B), and Other business services ($690M) being the largest in terms of value.

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Latest Trends

August, 2024

About

Overview In August 2024, Spain exported €2.4B and imported €1B from Portugal, resulting in a positive trade balance of €1.39B. Between August 2023 and August 2024 the exports of Spain have increased by €42.5M (1.8%) from €2.36B to €2.4B, while imports decreased by €-64.6M (-6.04%) from €1.07B to €1B.

Trade In August 2024, the top exports of Spain to Portugal were Refined Petroleum (€124M), Cars (€96.5M), Electricity (€92.7M), Motor vehicles; parts and accessories (8701... (€76.6M), and Pure Olive Oil (€43.3M). In August 2024 the top imports of Spain from Portugal were Electricity (€108M), Motor vehicles; parts and accessories (8701... (€93.7M), Centrifuges (€46.8M), Glass Bottles (€26.6M), and Delivery Trucks (€26.2M).

Origins In August 2024 the exports of Spain were mainly from Madrid (€467M), Barcelona (€312M), Pontevedra (€139M), A Coruña (€135M), and Guadalajara (€102M), while imports destinations were mainly Madrid (€174M), Barcelona (€97.5M), A Coruña (€85.1M), Pontevedra (€74.6M), and Valencia (€60.7M).

Growth In August 2024, the increase in Spain's year-by-year exports to Portugal was explained primarily by an increase in product exports in Refined Petroleum (€62.8M or 102%), Cars (€38.7M or 66.9%), and Pure Olive Oil (€21.9M or 102%). In August 2024, the decrease in Spain's year-by-year imports  from Portugal was explained primarily by an decrease in product imports  in Computers (€-9.83M or -87.7%), Pure Olive Oil (€-6.64M or -21.1%), and Cars (€-6.12M or -31.5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€42.5M(1.8%)
IMPORT GROWTH (August 2023 - August 2024)€-64.6M(-6.04%)
MAIN EXPORTER (August 2024)Madrid€467M

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 Portugal and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Portugal and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $34.9B to Portugal. The main products exported from Spain to Portugal were Electricity ($2.63B), Refined Petroleum ($1.62B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.19B). During the last 5 years the exports of Spain to Portugal have increased at an annualized rate of 7.51%, from $24.3B in 2017 to $34.9B in 2022.

In 2017, Portugal exported $20.5B to Spain. The main products exported from Portugal to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.35B), Electricity ($752M), and Refined Petroleum ($641M). During the last 5 years the exports of Portugal to Spain have increased at an annualized rate of 5.22%, from $15.1B in 2022 to $20.5B in 2017.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Portugal
Top DestinationSpain$20.5B

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

In 2022, countries that imported more from Spain than Portugal included France ($65.2B), Germany ($39.2B), and Italy ($32.1B).

In 2022, countries that imported more from Portugal than Spain included Angola ($1.59B), Cape Verde ($407M), and Mozambique ($262M).

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

Comparative Advantage Spain - Portugal

Flow
Scale

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

During 2022, Spain had a large net trade with Portugal in the exports of Mineral Products ($5B), Machines ($4.2B), and Metals ($4.2B).

During 2017, Portugal had a large net trade with Spain in the exports of Metals ($2.39B), Machines ($2.34B), and Transportation ($2.2B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Portugal+$278MCars
Top Product Potential Portugal Spain+$253MCars

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 Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

In 2020, Portugal exported services to Spain worth $3.15B, with Travel ($1.15B), Transportation ($1.11B), and Other business services ($690M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Portugal (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 Portugal. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Portugal. Similarly, a dot/product with the flag of Portugal indicates it has a comparative advantage over Spain.

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

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