United Kingdom (GBR) and Spain (ESP) Trade

2022

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Exports $11.9BRnk 8 / 224

2022

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About

United Kingdom-Spain Trade: In 2022, United Kingdom exported $11.9B to Spain. The main products that United Kingdom exported to Spain were Gas Turbines ($930M), Cars ($884M), and Precious Metal Scraps ($678M). Over the past 5 years the exports of United Kingdom to Spain have decreased at an annualized rate of 1.9%, from $13.1B in 2017 to $11.9B in 2022.

In 2019, United Kingdom exported services to Spain worth $10.9B, with Transportation ($3.93B), Other business services ($2.27B), and Travel ($2.11B) being the largest in terms of value.

Spain-United Kingdom Trade: In 2022, Spain exported $22.6B to United Kingdom. The main products that Spain exported to United Kingdom were Cars ($3.44B), Gold ($1.4B), and Delivery Trucks ($732M). Over the past 5 years the exports of Spain to United Kingdom have increased at an annualized rate of 1.18%, from $21.3B in 2017 to $22.6B in 2022.

In 2020, Spain exported services to United Kingdom worth $2.9B, with Travel ($2.9B) being the largest in terms of value.

Comparison: In 2022, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Latest Trends

September, 2024

About

Overview In September 2024, United Kingdom exported £657M and imported £1.49B from Spain, resulting in a negative trade balance of £832M. Between September 2023 and September 2024 the exports of United Kingdom have decreased by £-80.6M (-10.9%) from £738M to £657M, while imports increased by £69.2M (4.88%) from £1.42B to £1.49B.

Trade In September 2024, the top exports of United Kingdom to Spain were Gold (£51.2M), Commodities not elsewhere specified (£50.4M), Gas Turbines (£47M), Cars (£46.3M), and Precious Metal Scraps (£44.4M). In September 2024 the top imports of United Kingdom from Spain were Cars (£140M), Gold (£103M), Gas Turbines (£54.7M), Delivery Trucks (£54M), and Other Vegetables (£52.9M).

Origins In September 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£204M), London Heathrow Airport (£60.9M), Portsmouth (£51.6M), Avonmouth (£46.9M), and Southampton (£46M), while imports destinations were mainly Dover (£238M), Eurotunnel (£183M), London (£140M), Avonmouth (£136M), and London Heathrow Airport (£129M).

Growth In September 2024, the decrease in United Kingdom's year-by-year exports to Spain was explained primarily by an decrease in product exports in Cars (£-14M or -23.2%), Refined Petroleum (£-10.1M or -85.6%), and Combustion Engines (£-6.54M or -47%). In September 2024, the increase in United Kingdom's year-by-year imports from Spain was explained primarily by an increase in product imports in Planes, Helicopters, and/or Spacecraft (£24.5M or 1.45k%), Gas Turbines (£23.4M or 74.9%), and Refined Petroleum (£7.19M or 400%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (September 2023 - September 2024)£-80.6M(-10.9%)

IMPORT GROWTH (September 2023 - September 2024)£69.2M(4.88%)

MAIN EXPORTER (September 2024)Dover Eurotunnel£204M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Spain and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United Kingdom exported $11.9B to Spain. The main products exported from United Kingdom to Spain were Gas Turbines ($930M), Cars ($884M), and Precious Metal Scraps ($678M). During the last 5 years the exports of United Kingdom to Spain have decreased at an annualized rate of 1.9%, from $13.1B in 2017 to $11.9B in 2022.

In 2017, Spain exported $22.6B to United Kingdom. The main products exported from Spain to United Kingdom were Cars ($3.44B), Gold ($1.4B), and Delivery Trucks ($732M). During the last 5 years the exports of Spain to United Kingdom have increased at an annualized rate of 1.18%, from $21.3B in 2022 to $22.6B in 2017.

Exports from United Kingdom () to Spain () (2022)

Exports from Spain () to United Kingdom () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$61.8B

Spain
Top DestinationFrance$65.2B

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 2022, countries that imported more from United Kingdom than Spain included United States ($61.8B), Ireland ($32.6B), and Netherlands ($41.9B).

In 2022, countries that imported more from Spain than United Kingdom included France ($65.2B), Portugal ($34.9B), and Italy ($32.1B).

Difference in imports from Spain () and United Kingdom () (2022)

Comparative Advantage United Kingdom - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United Kingdom had a large net trade with Spain in the exports of Machines ($2.49B), Chemical Products ($1.83B), and Transportation ($1.74B).

During 2017, Spain had a large net trade with United Kingdom in the exports of Transportation ($5.58B), Machines ($2.53B), and Vegetable Products ($2.41B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Spain+$379MCars

Top Product Potential Spain United Kingdom+$490MCars

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

Esp Year

Gbr Year

In 2019, United Kingdom exported services to Spain worth $10.9B, with Transportation ($3.93B), Other business services ($2.27B), and Travel ($2.11B) being the largest in terms of value.

In 2020, Spain exported services to United Kingdom worth $2.9B, with Travel ($2.9B) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Spain () (2019)

Services Exports from Spain () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United Kingdom () and Spain () (2022)

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