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

About

Portugal-Spain In 2021, Portugal exported $19.3B to Spain. The main products that Portugal exported to Spain are Motor vehicles; parts and accessories (8701 to 8705) ($1.43B), Refined Petroleum ($578M), and Electricity ($561M). During the last 26 years the exports of Portugal to Spain have increased at an annualized rate of 6.66%, from $3.61B in 1995 to $19.3B in 2021.

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.

Spain-Portugal In 2021, Spain exported $30.5B to Portugal. The main products that Spain exported to Portugal were Electricity ($1.47B), Motor vehicles; parts and accessories (8701 to 8705) ($1.28B), and Refined Petroleum ($1B). During the last 26 years the exports of Spain to Portugal have increased at an annualized rate of 5.56%, from $7.48B in 1995 to $30.5B in 2021.

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

Comparison In 2021, Portugal ranked 43 in the Economic Complexity Index (ECI 0.56), and 46 in total exports ($75.6B). That same year, Spain ranked 35 in the Economic Complexity Index (ECI 0.78), and 16 in total exports ($372B).

Latest Trends

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January, 2023

About

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Overview In January 2023, Portugal exported €1.71B and imported €2.72B from Spain, resulting in a negative trade balance of €1.01B. Between January 2022 and January 2023 the exports of Portugal have increased by €131M (8.29%) from €1.58B to €1.71B, while imports increased by €318M (13.3%) from €2.4B to €2.72B.

Trade In January 2023, the top exports of Portugal to Spain were Cars, tractors, trucks & parts thereof. (€223M), Mineral fuels, mineral oils and products... (€140M), Plastics & articles thereof (€128M), Iron & steel (€91.9M), and Electrical machinery and electronics (€91.5M). In January 2023 the top imports of Portugal from Spain were Mineral fuels, mineral oils and products... (€305M), Cars, tractors, trucks & parts thereof. (€190M), Plastics & articles thereof (€157M), Machinery, mechanical appliances, & parts (€146M), and Electrical machinery and electronics (€145M).

Growth In January 2023, the increase in Portugal's year-by-year exports to Spain was explained primarily by an increase in product exports in Plastics & articles thereof (€36M or 39.3%), Animal or vegetable fats, oils, &... (€32.6M or 121%), and Electrical machinery and electronics (€28.8M or 45.9%). In January 2023, the increase in Portugal's year-by-year imports from Spain was explained primarily by an increase in product imports in Mineral fuels, mineral oils and products... (€207M or 212%), Plastics & articles thereof (€52M or 49.8%), and Iron & steel (€44.3M or 64.4%).

Latest Trade

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Flow

Time Scale

Value

EXPORT GROWTH (January 2022 - January 2023): €131M, (8.29%)

IMPORT GROWTH (January 2022 - January 2023): €318M, (13.3%)

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 2021, Portugal exported $19.3B to Spain. The main products exported from Portugal to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.43B), Refined Petroleum ($578M), and Electricity ($561M). During the last 26 years the exports of Portugal to Spain have increased at an annualized rate of 6.66%, from $3.61B in 1995 to $19.3B in 2021.

In 2021, Spain exported $30.5B to Portugal. The main products exported from Spain to Portugal were Electricity ($1.47B), Motor vehicles; parts and accessories (8701 to 8705) ($1.28B), and Refined Petroleum ($1B). During the last 26 years the exports of Spain to Portugal have increased at an annualized rate of 5.56%, from $7.48B in 1995 to $30.5B in 2021.

Market Competitiveness

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Color

SectionYear

Portugal
Top Destination: Spain, $19.3B

Spain
Top Destination: France, $59B

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 2021, countries that imported more from Portugal than Spain were Angola ($1.19B), Cape Verde ($355M), and Mozambique ($255M).

In 2021, countries that imported more from Spain than Portugal were France ($59B), Germany ($38.3B), and Italy ($30.6B).

Comparative Advantage Portugal - Spain

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Flow

Scale

Year

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

During 2021, Portugal had a large net trade with Spain in the exports of Transportation ($2.44B), Metals ($2.35B), and Machines ($1.93B).

During 2021, Spain had a large net trade with Portugal in the exports of Machines ($4.19B), Metals ($3.66B), and Mineral Products ($3.02B).

Service Trade

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Bilateral Service Trade

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Esp YearPrt Year

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.

In 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) 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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