United States (USA) and Spain (ESP) Trade

2023

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Exports $29.9BRnk 16 / 220

2023

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About

United States-Spain Trade: In 2023, United States exported $29.9B to Spain. The main products that United States exported to Spain were Crude Petroleum ($5.85B), Packaged Medicaments ($5.2B), and Petroleum Gas ($3.86B). Over the past 5 years the exports of United States to Spain have increased at an annualized rate of 14.5%, from $15.2B in 2018 to $29.9B in 2023.

In 2017, United States exported services to Spain worth $7.98B, with Travel ($2.2B), Financial services ($1.75B), and Transportation ($1.09B) being the largest in terms of value.

Spain-United States Trade: In 2023, Spain exported $22.9B to United States. The main products that Spain exported to United States were Refined Petroleum ($1.9B), Packaged Medicaments ($1.41B), and Electrical Transformers ($1.05B). Over the past 5 years the exports of Spain to United States have increased at an annualized rate of 3.29%, from $17.1B in 2018 to $22.9B in 2023.

In 2020, Spain exported services to United States worth $552M, with Travel ($552M) being the largest in terms of value.

Comparison: In 2023, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T). That same year, Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B).

Company data: In 2023, leading companies such as Cosentino (4.19k), Soho Studio (2.13k), and John Deere (2.12k) were at the forefront of exporting goods from Spain to the United States. Conversely, Other (3.85k), Cosentino Global Slu (3.11k), and Unknown (2.22k) were notable for importing products to Spain from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $1.97B and imported $1.63B from Spain, resulting in a positive trade balance of $341M. Between November 2023 and November 2024 the exports of United States have decreased by $-146M (-6.89%) from $2.12B to $1.97B, while imports decreased by $-165M (-9.2%) from $1.8B to $1.63B.

Trade In November 2024, the top exports of United States to Spain were Petroleum Gas ($313M), Crude Petroleum ($293M), Packaged Medicaments ($274M), Vaccines, blood, antisera, toxins and cultures ($84.5M), and Soybeans ($61.8M). In November 2024 the top imports of United States from Spain were Packaged Medicaments ($188M), Refined Petroleum ($148M), Commodities not elsewhere specified ($87M), Electrical Transformers ($75.5M), and Vaccines, blood, antisera, toxins and cultures ($73.3M).

Origins In November 2024 the exports of United States were mainly from Texas ($492M), Puerto Rico ($297M), Louisiana ($247M), California ($184M), and Pennsylvania ($106M), while imports destinations were mainly New Jersey ($197M), Florida ($163M), Texas ($138M), California ($118M), and North Carolina ($110M).

Growth In November 2024, the decrease in United States's year-by-year exports to Spain was explained primarily by an decrease in product exports in Petroleum Gas ($-251M or -44.5%), Vaccines, blood, antisera, toxins and cultures ($-132M or -61%), and Hormones ($-15.3M or -55.9%). In November 2024, the decrease in United States's year-by-year imports from Spain was explained primarily by an decrease in product imports in Vaccines, blood, antisera, toxins and cultures ($-34.5M or -32%), Delivery Trucks ($-18.1M or -57.8%), and Cement Articles ($-15.6M or -52.6%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)$-146M(-6.89%)

IMPORT GROWTH (November 2023 - November 2024)$-165M(-9.2%)

MAIN EXPORTER (November 2024)Texas$492M

This section shows exports and imports data at subnational level for United States. 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 States over time.

To check Spain and United States 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 2023, United States exported $29.9B to Spain. The main products exported from United States to Spain were Crude Petroleum ($5.85B), Packaged Medicaments ($5.2B), and Petroleum Gas ($3.86B). During the last 5 years the exports of United States to Spain have increased at an annualized rate of 14.5%, from $15.2B in 2018 to $29.9B in 2023.

In 2018, Spain exported $22.9B to United States. The main products exported from Spain to United States were Refined Petroleum ($1.9B), Packaged Medicaments ($1.41B), and Electrical Transformers ($1.05B). During the last 5 years the exports of Spain to United States have increased at an annualized rate of 3.29%, from $17.1B in 2023 to $22.9B in 2018.

Exports from United States () to Spain () (2023)

Exports from Spain () to United States () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$269B

Spain
Top DestinationFrance$61.9B

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

In 2023, countries that imported more from United States than Spain included Canada ($269B), Mexico ($243B), and China ($154B).

In 2023, countries that imported more from Spain than United States included Portugal ($38.1B), France ($61.9B), and Italy ($34.7B).

Difference in imports from Spain () and United States () (2023)

Comparative Advantage United States - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, United States had a large net trade with Spain in the exports of Mineral Products ($10.9B), Chemical Products ($7.83B), and Machines ($3.22B).

During 2018, Spain had a large net trade with United States in the exports of Chemical Products ($5.06B), Machines ($4.45B), and Mineral Products ($2.51B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United States Spain+$346MCrude Petroleum

Top Product Potential Spain United States+$618MPackaged 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

Usa Year

In 2017, United States exported services to Spain worth $7.98B, with Travel ($2.2B), Financial services ($1.75B), and Transportation ($1.09B) being the largest in terms of value.

In 2020, Spain exported services to United States worth $552M, with Travel ($552M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Spain () (2017)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of United States and Spain. This means that a dot/product with the flag of United States 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 States.

Product Space of United States () and Spain () (2023)

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