Portugal (PRT) and Spain (ESP) Trade | OEC - The Observatory of Economic Complexity

About

Portugal-Spain In 2020, Portugal exported $14.7B to Spain. The main products that Portugal exported to Spain are Motor vehicles; parts and accessories (8701 to 8705) ($1.37B), Cars ($389M), and Centrifuges ($388M). During the last 25 years the exports of Portugal to Spain have increased at an annualized rate of 5.78%, from $3.61B in 1995 to $14.7B in 2020.

In 2019, Portugal exported services to Spain worth $4.31B, with Travel ($2.18B), Transportation ($1.19B), and Other business services ($711M) being the largest in terms of value.

Spain-Portugal In 2020, Spain exported $23.8B to Portugal . The main products that Spain exported to Portugal were Motor vehicles; parts and accessories (8701 to 8705) ($960M), Cars ($772M), and Refined Petroleum ($578M). During the last 25 years the exports of Spain to Portugal have increased at an annualized rate of 4.74%, from $7.46B in 1995 to $23.8B in 2020.

In 2019, Spain exported services to Portugal worth $1.2B, with Travel ($1.2B) being the largest in terms of value.

Comparison In 2020, Portugal ranked 45 in the Economic Complexity Index (ECI 0.47), and 43 in total exports ($62.2B). That same year, Spain ranked 34 in the Economic Complexity Index (ECI 0.76), and 17 in total exports ($298B).

Latest Trends

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June, 2022

About

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Overview In June 2022 Portugal exported €1.81B and imported €2.93B from Spain, resulting in a negative trade balance of €1.12B. Between June 2021 and June 2022 the exports of Portugal have increased by €421M (30.3%) from €1.39B to €1.81B, while imports increased by €701M (31.5%) from €2.23B to €2.93B.

Trade In June 2022, the top exports of Portugal to Spain were Vehicles (€240M), Plastics and articles thereof (€148M), Mineral fuels, mineral oils and products... (€108M), Nuclear reactors, boilers, machinery and mechanical... (€94.5M), and Electrical machinery and equipment and parts... (€89M). In June 2022 the top imports of Portugal from Spain were Mineral fuels, mineral oils and products... (€364M), Vehicles (€275M), Plastics and articles thereof (€171M), Electrical machinery and equipment and parts... (€167M), and Nuclear reactors, boilers, machinery and mechanical... (€160M).

Growth In June 2022, the increase in Portugal's year-by-year exports to Spain was explained primarily by an increase in product exports in Nuclear reactors, boilers, machinery and mechanical... (€15.5M or 21.7%), Iron and steel (€13.3M or 25.6%), and Optical, photographic, cinematographic, measuring, checking, medical... (€8.67M or 77.7%). In June 2022, the increase in Portugal's year-by-year imports from Spain was explained primarily by an increase in product imports in Iron and steel (€10.5M or 18.1%), Copper and articles thereof (€10.1M or 40.3%), and Iron or steel articles (€7.35M or 19.7%).

Latest Trade

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Flow

Time Scale

Value

EXPORT GROWTH (June 2021 - June 2022): €421M, (30.3%)

IMPORT GROWTH (June 2021 - June 2022): €701M, (31.5%)

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

To check Spain and Portugal trade dynamics, check the bilateral page.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2020, Portugal exported $14.7B to Spain. The main products exported from Portugal to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.37B), Cars ($389M), and Centrifuges ($388M). During the last 25 years the exports of Portugal to Spain have increased at an annualized rate of 5.78%, from $3.61B in 1995 to $14.7B in 2020.

In 2020, Spain exported $23.8B to Portugal. The main products exported from Spain to Portugal were Motor vehicles; parts and accessories (8701 to 8705) ($960M), Cars ($772M), and Refined Petroleum ($578M). During the last 25 years the exports of Spain to Portugal have increased at an annualized rate of 4.74%, from $7.46B in 1995 to $23.8B in 2020.

Market Competitiveness

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Measure

SectionYear

Portugal
Top Destination: Spain, $14.7B

Spain
Top Destination: France, $47.6B

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 2019, countries that imported more from Portugal than Spain were Angola ($996M), Guyana ($407M), and Cape Verde ($447M).

In 2019, countries that imported more from Spain than Portugal were France ($47.6B), Germany ($34B), and Italy ($22.8B).

Comparative Advantage Portugal - Spain

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Flow

Year

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

During 2020, Portugal had a large net trade with Spain in the exports of Transportation ($2.1B), Machines ($1.63B), and Metals ($1.56B).

During 2020, Spain had a large net trade with Portugal in the exports of Machines ($3.64B), Metals ($2.4B), and Chemical Products ($2.18B).

Service Trade

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Bilateral Service Trade

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Esp YearPrt Year

In 2019, Portugal exported services to Spain worth $4.31B, with Travel ($2.18B), Transportation ($1.19B), and Other business services ($711M) being the largest in terms of value.

In 2019, Spain exported services to Portugal worth $1.2B, with Travel ($1.2B) 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 yellow. This mean that the more blue a dot/product is, the more Portugal has comparative advantage over Spain. Similarly, the more yellow a dot/product is, the more Spain has comparative advantage over Portugal.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage Portugal - Spain

Service Trade

Bilateral Service Trade

Economic Complexity

Competitive Landscape

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