Flag Spain

Econ Complexity (2018): 0.85, Rank 33 of 137

Product Exports (2018): $330B, Rank 15 of 222

Exports Per Capita (2018): $7.06k, Rank 134 of 219

Product Imports (2018): $377B, Rank 14 of 221

Imports Per Capita (2018): $8.07k, Rank 146 of 219

Service Exports (2017): $131B, Rank 10 of 139

Service Imports (2017): $72.4B, Rank 19 of 139

GDP (2018): $1.42T, CURRENT US$
Rank 14 of 196

GDP growth (2008 - 2018): -12.7%, CURRENT US$
Rank 186 of 196

GDP PC (2018): $30,371, CURRENT US$
Rank 35 of 196

GDP PC GROWTH (2008 - 2018): -14.1%, CURRENT US$
Rank 173 of 196

Overview: In 2018 Spain was the number 14 economy in the world in terms of GDP (current US$), the number 15 in total exports, the number 14 in total imports, and the number 33 most complex economy according to the Economic Complexity Index (ECI). In 2018, Spain exported $330B and imported $377B, resulting in a negative trade balance of -$47.3B. In 2018, Spain's exports per capita were $7.06k and its imports per capita were $8.07k.

Trade: The top exports of Spain are Cars ($35.9B), Refined Petroleum ($13.3B), Vehicle Parts ($11.7B), Packaged Medicaments ($8.82B), and Delivery Trucks ($6.65B). The top imports of Spain are Crude Petroleum ($28.2B), Cars ($22.6B), Vehicle Parts ($14B), Packaged Medicaments ($10.1B), and Petroleum Gas ($9.17B).

Destinations: Spain exports mostly to France ($48.6B), Germany ($36.3B), Portugal ($27.2B), Italy ($25.4B), and United Kingdom ($22.6B), and imports mostly from Germany ($50.2B), France ($42.7B), China ($28.5B), Italy ($28B), and Portugal ($16.8B).

Location: Spain borders Andorra, France, Morocco, Portugal, and Gibraltar by land and Algeria and Italy by sea.

Latest Trends (March, 2020)

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Overview: In March 2020 Spain exported €22.9B and imported €25.3B, resulting in a negative trade balance of €2.47B. Between March 2019 and March 2020 the exports of Spain have decreased by €-4.67B (-17%) from €27.5B to €22.9B, while imports decreased by €-5.16B (-16.9%) from €30.5B to €25.3B.

Trade: In March 2020 the top exports of Spain were Commodities not elsewhere specified (€1.91B), Cars (€1.83B), Packaged Medicaments (€796M), Refined Petroleum (€596M), and Vehicle Parts (€568M). In March 2020 the top imports of Spain were Commodities not elsewhere specified (€1.87B), Crude Petroleum (€1.77B), Cars (€1.25B), Vehicle Parts (€1.03B), and Packaged Medicaments (€898M).

Origins: In March 2020 the exports of Spain were mainly from Barcelona (€4.32B), Madrid (€2.25B), Sin provincia asignada (€1.55B), Valencia (€1.51B), and Zaragoza (€873M), while imports destinations were mainly Madrid (€5.21B), Barcelona (€5.18B), Sin provincia asignada (€1.98B), Valencia (€1.34B), and Tarragona (€877M).

Destinations: In March 2020 Spain exported mostly to France (€2.96B), Germany (€2.34B), World (€1.86B), Italy (€1.57B), and Portugal (€1.55B), and imported mostly from Germany (€2.98B), France (€2.54B), World (€2.14B), China (€1.54B), and United States (€1.45B).

Growth: In March 2020, the decrease in Spain's year-by-year exports was explained primarily by a decrease in exports to France (€-885M or -23%), Italy (€-611M or -28.1%), and Germany (€-607M or -20.6%), and product exports decrease in Cars (€-1.05B or -36.6%), Refined Petroleum (€-709M or -54.3%), and Planes, Helicopters, and/or Spacecraft (€-317M or -99.9%). In March 2020, the decrease in Spain's year-by-year imports was explained primarily by a decrease in imports from Germany (€-669M or -18.4%), World (€-582M or -21.4%), and France (€-502M or -16.5%), and product imports decrease in Cars (€-616M or -33%), Crude Petroleum (€-608M or -25.6%), and Refined Petroleum (€-452M or -58.8%).

Flow
Value
Depth

EXPORT GROWTH (March 2019 - March 2020): €-4.67B, (-17%)

IMPORT GROWTH (March 2019 - March 2020): €-5.16B, (-16.9%)

MAIN EXPORTER (March 2020): Barcelona, €4.32B

MAIN DESTINATION (March 2020): France, €2.96B

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

Comparison in Time

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Flow
Value

This section shows the differences between Spain's total subnational aggregate trade throughout time. To explore different subnational trade comparisons in time, visit Spain's subnational profiles.

Explore Spain's Subnational Data

Product Exports

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Depth
Value

Top Export (2018): Cars, $35.9B

Top Destination (2018): France, $48.6B

In 2018 Spain exported a total of $330B, making it the number 15 exporter in the world. During the last five reported years the exports of Spain have changed by $34.9B from $295B in 2013 to $330B in 2018.

The most recent exports are led by Cars ($35.9B), Refined Petroleum ($13.3B), Vehicle Parts ($11.7B), Packaged Medicaments ($8.82B), and Delivery Trucks ($6.65B). The most common destination for the exports of Spain are France ($48.6B), Germany ($36.3B), Portugal ($27.2B), Italy ($25.4B), and United Kingdom ($22.6B).

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Product Imports

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Depth
Value

Top Import (2018): Crude Petroleum, $28.2B

Top Origin (2018): Germany, $50.2B

In 2018 Spain imported $377B, making it the number 14 trade destination in the world. During the last five reported years the imports of Spain changed by $50.5B from $327B in 2013 to $377B in 2018.

The most recent imports of Spain are led by Crude Petroleum ($28.2B), Cars ($22.6B), Vehicle Parts ($14B), Packaged Medicaments ($10.1B), and Petroleum Gas ($9.17B). The most common import partners for Spain are Germany ($50.2B), France ($42.7B), China ($28.5B), Italy ($28B), and Portugal ($16.8B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Spain Exports Services (2017): $131B

Spain Imports Services (2017): $72.4B

In 2017, Spain exported $131B worth of services. The top services exported by Spain in 2017 were Travel ($67.9B), Miscellaneous business, professional, and technical services ($22.6B), Transportation ($17.8B), Computer and information services ($12.6B), and Financial services ($3.67B).

The top services imported by Spain in 2017 were Travel ($22.3B), Miscellaneous business, professional, and technical services ($16.5B), Transportation ($14.7B), Computer and information services ($6.81B), and Royalties and license fees ($5.06B).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Spain. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Spain are Sugar beet (178%) and Whey (173%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Spain are:
109: Caribbean Forum (CARIFORUM) - European Union Economic Partnership Agreements (EPA)
119: Customs Union between EU and Turkey
121: Economic Partnership Agreement (EPA) between the EU and the Southern African Development Community (SADC) EPA Group
122: EU preferential tariff for sugar producing countries
123: European Union Generalized System of Preference
124: European Union GSP for Least Developed Countries
136: Most Favoured Nation duty rate treatement
160: Preferential tariff for Albania
161: Preferential tariff for Algeria
162: Preferential tariff for Andorra
172: Preferential tariff for Bosnia and Herzegovina
177: Preferential tariff for Cameroon
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
205: Preferential tariff for Ecuador
206: Preferential tariff for Egypt
209: Preferential tariff for EPA countries
218: Preferential tariff for European Union countries
222: Preferential tariff for Faroe Islands
223: Preferential tariff for Fiji
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
227: Preferential tariff for Ghana
238: Preferential tariff for Iceland
239: Preferential tariff for India
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
255: Preferential tariff for Lebanon
258: Preferential tariff for Liechtenstein
262: Preferential tariff for Macedonia
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
281: Preferential tariff for Norway
283: Preferential tariff for Overseas Countries and Territories
284: Preferential tariff for Pakistan
287: Preferential tariff for Papua New Guinea
289: Preferential tariff for Peru
293: Preferential tariff for San Marino
295: Preferential tariff for Selected Eastern and Southern African countries(Madagascar, Mauritius, Seychelles and Zimbabwe)
299: Preferential tariff for Singapore
302: Preferential tariff for South Africa
306: Preferential tariff for Switzerland
308: Preferential tariff for Syria
318: Preferential tariff for the republic of Moldova
321: Preferential tariff for Tunisia
325: Preferential tariff for Ukraine
341: Preferential tariffs for countries benefiting from the special incentive arrangement for sustainable development and good governance

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Spain's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨19th to the 33rd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Comparison Map

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Value

This section shows exports, imports and economic complexity data at subnational level for Spain. Click any of the Province in the geomap to visit the specific subnational profile.

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Most Specialized Products by RCA Index

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Spain has a high level of specialization in Slate (28.1), Olive Oil (26.1), Pure Olive Oil (24.1), Lettuce (16.9), and Cucumbers (14.9). Specialization is measured using RCA, an index that takes the ratio between Spain observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Spain according to the product complexity index (PCI) are Machine-tools for non-mechanical removal of material (2.01), Calendaring, rolling machines, except for metal, glass (1.92), Lathes for removing metal (1.9), Bar or rod of stainless steel, hot rolled, coiled (1.74), and Polyamides in primary forms (1.71). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Spain according to the relatedness index, are Wheat Flours (0.51), Non-Knit Men's Undergarments (0.51), Knit Men's Undergarments (0.51), Insect Resins (0.51), and Raw Sugar (0.51). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Spain is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth
Filter

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.