Portugal (PRT) and Spain (ESP) Trade

About

Portugal-Spain: In 2018, Portugal exported $16.8B to Spain. The main products exported from Portugal to Spain were Vehicle Parts ($1.4B), Refined Petroleum ($677M), and Knit T-shirts ($366M). During the last 23 years the exports of Portugal to Spain have increased at an annualized rate of 7.24%, from $3.36B in 1995 to $16.8B in 2018. In 2016, Portugal exported services to Spain worth $3.37B, with Travel ($1.82B), Transportation ($811M), and Other business services ($608M) being the largest in terms of value.

Spain-Portugal: In 2018, Spain exported $27.2B to Portugal. The main products exported from Spain to Portugal were Cars ($1.26B), Vehicle Parts ($1.25B), and Petroleum Gas ($774M). During the last 23 years the exports of Spain to Portugal have increased at an annualized rate of 6%, from $7.13B in 1995 to $27.2B in 2018. In 2016, Spain exported services to Portugal worth $1.06B, with Travel ($1.06B) being the largest in terms of value.

Comparison: In 2018, Portugal ranked 48 in the Economic Complexity Index (ECI 0.46), and 44 in total exports ($72B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.85), and 15 in total exports ($330B). In terms of GDP Per Capita, Portugal was ranked 41 with a GDP Per Capita of $23,408, and Spain was ranked 35 with a GDP Per Capita of $30,371.

Product Trade

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Bilateral Trade by Products

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Depth

Value

Year

In 2018, Portugal exported $16.8B to Spain. The main products exported from Portugal to Spain were Vehicle Parts ($1.4B), Refined Petroleum ($677M), and Knit T-shirts ($366M). During the last 23 years the exports of Portugal to Spain have increased at an annualized rate of 7.24%, from $3.36B in 1995 to $16.8B in 2018.

In 2018, Spain exported $27.2B to Portugal. The main products exported from Spain to Portugal were Cars ($1.26B), Vehicle Parts ($1.25B), and Petroleum Gas ($774M). During the last 23 years the exports of Spain to Portugal have increased at an annualized rate of 6%, from $7.13B in 1995 to $27.2B in 2018.

Monthly Trade

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Date

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Date

Market Competitiveness

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Measure

SectionYear

Portugal
Top Destination: Spain, $16.8B

Spain
Top Destination: France, $48.6B

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

In 2018, countries that imported more from Portugal than Spain were Angola ($1.98B), Cape Verde ($346M), and Mozambique ($240M).

In 2018, countries that imported more from Spain than Portugal were France ($48.6B), Germany ($36.3B), and Italy ($25.4B).

Comparative Advantage Portugal - Spain

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Year

Depth

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

During 2018, Portugal had a large net trade with Spain in the exports of Transportation ($2.15B), Metals ($2B), and Textiles ($1.73B).

During 2018, Spain had a large net trade with Portugal in the exports of Machines ($3.59B), Transportation ($3.01B), and Metals ($2.93B).

Tariff Section

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Tariffs

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In 2017, Portugal and Spain are members of the European Union, so they have no Tariffs between each other regarding products.

Article 28 of the TFEU promotes the free circulation of goods within the EU by establishing a customs union. The customs union prohibits the charging of any duties on imports and exports within member states of the EU or the levying of any charge having the equivalent effect as a customs duty (CHEE). Duties are still payable on goods coming from countries outwith the EU but once the goods have passed through the import formalities of one member state they enjoy the same freedom of movement as goods originating within the EU.

To explore the different product levels and year available with data, visit our Tariff Explorer Section. Explore Tariff Data

Forecasts

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Trade Forecasts

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This section shows a forecast for total trade between Portugal 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.

Explore Forecasts

Service Trade

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Bilateral Service Trade

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Prt YearEsp Year

In 2016, Portugal exported services to Spain worth $3.37B, with Travel ($1.82B), Transportation ($811M), and Other business services ($608M) being the largest in terms of value.

In 2016, Spain exported services to Portugal worth $1.06B, with Travel ($1.06B) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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Year

This 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 Portugal has comparative advantage over Spain. Similarly, the more red a dot/product is, the more Spain has comparative advantage over Portugal.

About

Product Trade

Bilateral Trade by Products

Monthly Trade

Market Competitiveness

Comparative Advantage Portugal - Spain

Tariff Section

Tariffs

Forecasts

Trade Forecasts

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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