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2023
Exports $14.3BWorld Rnk 18 / 214
Flag Rnk 3 / 1215
2023
Destination $546M France
2022 - 2023
FASTEST GROWING MARKET $546MBrazil
2023
PRODUCT COMPLEXITY IN Refined Petroleum-0.94Rnk 813 / 1025
2023
Imports $10.5BWorld Rnk 25 / 226
Flag Rnk 6 / 1214
2023
Origin $583M Italy
2022 - 2023
FASTEST GROWING ORIGIN $583MIndia
2023
ECONOMIC COMPLEXITY of Spain0.86Rnk 31 / 132

About

Exports In 2023, Spain exported $14.3B in Refined Petroleum, making it the 18th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most exported product in Spain. The main destination of Refined Petroleum exports from Spain are: France ($2.54B), United States ($1.9B), Morocco ($1.79B), Portugal ($1.48B), and Netherlands ($1.23B).

The fastest growing export markets for Refined Petroleum of Spain between 2022 and 2023 were Brazil ($546M), France ($402M), and Cyprus ($233M).

Imports In 2023, Spain imported $10.5B in Refined Petroleum, becoming the 25th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 6th most imported product in Spain. Spain imports Refined Petroleum primarily from: Italy ($1.92B), Netherlands ($1.05B), India ($980M), United Arab Emirates ($627M), and Kuwait ($570M).

The fastest growing import markets in Refined Petroleum for Spain between 2022 and 2023 were India ($583M), Italy ($533M), and Kuwait ($477M).

COMPANIES In 2023, leading companies such as Cosentino (3) and IKEA Group (1) were at the forefront of shipping Refined Petroleum from Spain to the United States.

Latest Trends

November 2024

About

Overview In November 2024 Spain's Refined Petroleum exports accounted up to €918M and imports accounted up to €949M, resulting in a negative trade balance of €31.2M. Between November 2023 and November 2024 the exports of Spain's   Refined Petroleum have decreased by €-690M (-42.9%) from €1.61B to €918M, while imports increased by €132M (16.2%) from €817M to €949M.

Destinations In November 2024, Refined Petroleum were exported mostly to Rest of the world (€371M), Portugal (€97M), Malta (€70.9M), Netherlands (€65M), and Gibraltar (€51.6M), and were imported mostly from Italy (€261M), Netherlands (€142M), India (€137M), United States (€85M), and Rest of the world (€62.8M).

Growth In November 2024, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Netherlands (€-89.2M or -50.4%), Italy (€-59.3M or -73.1%), and Belgium (€-38M or -54.1%). In November 2024, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from Greece (€72.7M or 36.7k%), United Arab Emirates (€70.7M or 10.5k%), and Belgium (€70.6M or 269%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)€-690M(-42.9%)
IMPORT GROWTH (November 2023 - November 2024)€132M(16.2%)
MAIN EXPORTER (November 2024)Murcia€315M
MAIN DESTINATION (November 2024)Rest of the world€371M

This section shows Refined Petroleum's exports and imports data at subnational level for Spain. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Refined Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$14.3B
IMPORTS (2023)$10.5B
NET TRADE (2023)$3.75B

In 2023, Spain exported $14.3B in Refined Petroleum. The main destinations of Spain exports on Refined Petroleum were France ($2.54B), United States ($1.9B), Morocco ($1.79B), Portugal ($1.48B), and Netherlands ($1.23B).

In 2023, Spain imported $10.5B in Refined Petroleum, mainly from Italy ($1.92B), Netherlands ($1.05B), India ($980M), United Arab Emirates ($627M), and Kuwait ($570M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Spain WERE (2022 - 2023):
Brazil$546M (124%)
France$402M (18.8%)
Cyprus$233M (369%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Spain WERE (2022 - 2023):
Netherlands-$766M (-38.4%)
Gibraltar-$708M (-57%)
Senegal-$319M (-80.7%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Spain's main exporting competitors in Refined Petroleum were:
United States $107B
Singapore $55.9B
India $55.8B
In 2023, Spain's main importing competitors in Refined Petroleum were:
United States $68.8B
Singapore $55.7B
Australia $35.3B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALFrance+ $811M
TOP IMPORT POTENTIALRussia+ $679M

Refined Petroleum’s highest export potential is France. With an export gap of $811M.   Refined Petroleum’s highest import potential is Russia with an import gap of $679M.

See methodology.

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