United Kingdom-Spain: In 2018, United Kingdom exported $13.8B to Spain. The main products exported from United Kingdom to Spain were Cars ($1.77B), Packaged Medicaments ($809M), and Vehicle Parts ($424M). During the last 23 years the exports of United Kingdom to Spain have increased at an annualized rate of 1.95%, from $8.86B in 1995 to $13.8B in 2018. In 2016, United Kingdom exported services to Spain worth $2.18B, with Travel ($1.58B), Transportation ($554M), and Government services, n.i.e. ($45.9M) being the largest in terms of value.
Spain-United Kingdom: In 2018, Spain exported $22.6B to United Kingdom. The main products exported from Spain to United Kingdom were Cars ($3.61B), Delivery Trucks ($1.15B), and Vehicle Parts ($767M). During the last 23 years the exports of Spain to United Kingdom have increased at an annualized rate of 5.22%, from $7.01B in 1995 to $22.6B in 2018. In 2016, Spain exported services to United Kingdom worth $12.6B, with Travel ($12.6B) being the largest in terms of value.
Comparison: In 2018, United Kingdom ranked 13 in the Economic Complexity Index (ECI 1.49), and 9 in total exports ($464B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.85), and 15 in total exports ($330B). N/A
Product Trade
#permalink to sectionBilateral Trade by Products
#permalink to sectionIn 2018, United Kingdom exported $13.8B to Spain. The main products exported from United Kingdom to Spain were Cars ($1.77B), Packaged Medicaments ($809M), and Vehicle Parts ($424M). During the last 23 years the exports of United Kingdom to Spain have increased at an annualized rate of 1.95%, from $8.86B in 1995 to $13.8B in 2018.
In 2018, Spain exported $22.6B to United Kingdom. The main products exported from Spain to United Kingdom were Cars ($3.61B), Delivery Trucks ($1.15B), and Vehicle Parts ($767M). During the last 23 years the exports of Spain to United Kingdom have increased at an annualized rate of 5.22%, from $7.01B in 1995 to $22.6B in 2018.
Market Competitiveness
#permalink to sectionUnited Kingdom Top Destination: United States, $61.9B
This map shows whether countries import more from United Kingdom or Spain. Each country is colored based on the difference in imports they receive from United Kingdom and Spain or the difference in the growth in imports.
In 2018, countries that imported more from United Kingdom than Spain were United States ($61.9B), Ireland ($27.4B), and Netherlands ($33.3B).
In 2018, countries that imported more from Spain than United Kingdom were Portugal ($27.2B), France ($48.6B), and Italy ($25.4B).
Comparative Advantage United Kingdom - Spain
#permalink to sectionThis chart compares trade between United Kingdom and Spain by product, considering products traded by both, United Kingdom and Spain.
During 2018, United Kingdom had a large net trade with Spain in the exports of Transportation ($2.75B), Machines ($2.66B), and Chemical Products ($2.45B).
During 2018, Spain had a large net trade with United Kingdom in the exports of Transportation ($7.12B), Machines ($2.63B), and Vegetable Products ($2.43B).
Forecasts
#permalink to sectionTrade Forecasts
#permalink to sectionThis section shows a forecast for total trade between United Kingdom and Spain. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.
To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.
Service Trade
#permalink to sectionBilateral Service Trade
#permalink to sectionIn 2016, United Kingdom exported services to Spain worth $2.18B, with Travel ($1.58B), Transportation ($554M), and Government services, n.i.e. ($45.9M) being the largest in terms of value.
In 2016, Spain exported services to United Kingdom worth $12.6B, with Travel ($12.6B) being the largest in terms of value.
Service trade data is presented based on availability.
Economic Complexity
#permalink to sectionCompetitive Landscape
#permalink to sectionThis visualization show the product space at the HS4 level colored from blue to red. This mean that the more blue a dot/product is, the more United Kingdom has comparative advantage over Spain. Similarly, the more red a dot/product is, the more Spain has comparative advantage over United Kingdom.
