Russia (RUS) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Spain (ESP) Trade

2022

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Exports $7.06BRnk 20 / 138

2022

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About

Russia-Spain Trade: In 2022, Russia exported $7.06B to Spain. The main products that Russia exported to Spain were Petroleum Gas ($4.01B), Refined Petroleum ($1.49B), and Coal Briquettes ($356M). Over the past 5 years the exports of Russia to Spain have increased at an annualized rate of 22.5%, from $2.56B in 2017 to $7.06B in 2022.

In 2020, Russia exported services to Spain worth $241M, with Transportation ($151M), Other business services ($51.7M), and Computer and information services ($13.8M) being the largest in terms of value.

Spain-Russia Trade: In 2022, Spain exported $1.35B to Russia. The main products that Spain exported to Russia were Pesticides ($123M), Other Processed Vegetables ($64.1M), and Packaged Medicaments ($45.5M). Over the past 5 years the exports of Spain to Russia have decreased at an annualized rate of 11.1%, from $2.44B in 2017 to $1.35B in 2022.

In 2020, Spain exported services to Russia worth $151M, with Travel ($151M) being the largest in terms of value.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $334M and imported $236M from Spain, resulting in a positive trade balance of $98.4M. Between January 2021 and January 2022 the exports of Russia have increased by $176M (111%) from $158M to $334M, while imports increased by $48M (25.5%) from $188M to $236M.

Trade In January 2022, the top exports of Russia to Spain were Crude Petroleum ($60.8M), Refined Petroleum ($31.2M), Petroleum Gas ($19.7M), Scrap Iron ($5.06M), and Iron Reductions ($4.71M). In January 2022 the top imports of Russia from Spain were Rubber Tires ($12.5M), Motor vehicles; parts and accessories (8701... ($9.49M), Wine ($8.89M), Spark-Ignition Engines ($6.55M), and Packaged Medicaments ($5.5M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($197M), YAMAL-NENETS AUTONOMOUS AREA ($44.2M), KRASNODAR TERRITORY ($11.6M), VOLOGDA REGION ($11.3M), and KEMEROVO REGION ($11.2M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($106M), MOSCOW REGION ($38.6M), ST. PETERSBURG ($27.3M), ORENBURG REGION ($6.87M), and KRASNODAR TERRITORY ($6.42M).

Growth In January 2022, the increase in Russia's year-by-year exports to Spain was explained primarily by an increase in product exports in Crude Petroleum ($7.05M or 13.1%), Scrap Iron ($4.17M or 470%), and Raw Aluminium ($3.3M or 484%). In January 2022, the increase in Russia's year-by-year imports from Spain was explained primarily by an increase in product imports in Spark-Ignition Engines ($6.3M or 2.5k%), Motor vehicles; parts and accessories (8701... ($3.32M or 53.8%), and Packaged Medicaments ($2.9M or 112%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$176M(111%)

IMPORT GROWTH (January 2021 - January 2022)$48M(25.5%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$197M

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

To check Spain and Russia 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, Russia exported $7.06B to Spain. The main products exported from Russia to Spain were Petroleum Gas ($4.01B), Refined Petroleum ($1.49B), and Coal Briquettes ($356M). During the last 5 years the exports of Russia to Spain have increased at an annualized rate of 22.5%, from $2.56B in 2017 to $7.06B in 2022.

In 2017, Spain exported $1.35B to Russia. The main products exported from Spain to Russia were Pesticides ($123M), Other Processed Vegetables ($64.1M), and Packaged Medicaments ($45.5M). During the last 5 years the exports of Spain to Russia have decreased at an annualized rate of 11.1%, from $2.44B in 2022 to $1.35B in 2017.

Exports from Russia () to Spain () (2022)

Exports from Spain () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Spain
Top DestinationFrance$65.2B

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

In 2022, countries that imported more from Russia than Spain included China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2022, countries that imported more from Spain than Russia included France ($65.2B), Portugal ($34.9B), and United Kingdom ($22.6B).

Difference in imports from Spain () and Russia () (2022)

Comparative Advantage Russia - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Spain in the exports of Mineral Products ($6.23B), Metals ($273M), and Chemical Products ($208M).

During 2017, Spain had a large net trade with Russia in the exports of Chemical Products ($402M), Machines ($284M), and Foodstuffs ($197M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Spain+$742MCrude Petroleum

Top Product Potential Spain Russia+$83.2MPackaged Medicaments

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

Rus Year

In 2020, Spain exported services to Russia worth $151M, with Travel ($151M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Spain () (2020)

Services Exports from Spain () to Russia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Russia () and Spain () (2022)

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