Spain2019 Economic Complexity : 0.85, Rank 36 of 146
2019 Product Exports | Imports: $319B | $368B, 16 of 225 | 15 of 225
2019 Per Capita Product Exports | Imports: $6.78k | $7.82k, 49 of 219 | 37 of 219
2019 Service Exports | Imports : $138B | $80B, 5 of 69 | 7 of 69
Overview In 2019 Spain was the number 14 economy in the world in terms of GDP (current US$), the number 16 in total exports, the number 15 in total imports, the number 36 economy in terms of GDP per capita (current US$) and the number 36 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Spain are Cars ($34.5B), Refined Petroleum ($12.3B), Vehicle Parts ($10.6B), Packaged Medicaments ($9.95B), and Delivery Trucks ($6.07B), exporting mostly to France ($47.4B), Germany ($34.9B), Portugal ($25.8B), Italy ($25.5B), and United Kingdom ($22.1B).
In 2019, Spain was the world's biggest exporter of Citrus ($3.58B), Pure Olive Oil ($3.39B), Self-Propelled Rail Transport ($1.64B), Raw Zinc ($1.56B), and Iron Blocks ($1.45B)
Imports The top imports of Spain are Crude Petroleum ($27.8B), Cars ($21.6B), Vehicle Parts ($13.2B), Packaged Medicaments ($10B), and Petroleum Gas ($8.58B), importing mostly from Germany ($47.8B), France ($40.8B), China ($29.8B), Italy ($26.7B), and Netherlands ($16.5B).
In 2019, Spain was the world's biggest importer of Locust beans, seaweed, sugar beet, cane, for food ($96.2M), Chamois Leather ($29.1M), and Chalk ($17.9M)
Location Spain borders Andorra, France, Morocco, Portugal, and Gibraltar by land and Algeria and Italy by sea.
May, 2021
Overview In May 2021 Spain exported €26.7B and imported €27.6B, resulting in a negative trade balance of €911M. Between May 2020 and May 2021 the exports of Spain have increased by €8.35B (45.6%) from €18.3B to €26.7B, while imports increased by €9.45B (52.1%) from €18.1B to €27.6B.
Trade In May 2021, the top exports of Spain were Cars (€2.37B), Commodities not elsewhere specified (€1.21B), Refined Petroleum (€949M), Packaged Medicaments (€808M), and Vehicle Parts (€704M). In May 2021 the top imports of Spain were Crude Petroleum (€2B), Vehicle Parts (€1.12B), Cars (€1.07B), Packaged Medicaments (€889M), and Commodities not elsewhere specified (€826M).
Origins In May 2021 the exports of Spain were mainly from Barcelona (€5.2B), Madrid (€3.19B), Valencia (€1.39B), La Coruña (€1.12B), and Murcia (€1.05B), while imports destinations were mainly Madrid (€6.21B), Barcelona (€5.75B), Valencia (€1.46B), Tarragona (€1.2B), and Sin provincia asignada (€930M).
Destinations In May 2021, Spain exported mostly to France (€3.99B), Germany (€2.7B), Italy (€2.13B), Portugal (€2.04B), and United Kingdom (€1.55B), and imported mostly from Germany (€3.23B), France (€2.61B), China (€2.41B), Italy (€1.84B), and United States (€1.31B).
Growth In May 2021, the increase in Spain's year-by-year exports was explained primarily by an increase in exports to France (€1.25B or 45.7%), Italy (€782M or 58.1%), and Portugal (€700M or 52%), and product exports increase in Cars (€964M or 68.5%), Refined Petroleum (€391M or 70%), and Vehicle Parts (€379M or 117%). In May 2021, the increase in Spain's year-by-year imports was explained primarily by an increase in imports from Germany (€1.17B or 56.7%), France (€1.05B or 67%), and Italy (€669M or 57.1%), and product imports increase in Crude Petroleum (€1.4B or 232%), Cars (€656M or 157%), and Vehicle Parts (€583M or 109%).
EXPORT GROWTH (May 2020 - May 2021): €8.35B, (45.6%)
IMPORT GROWTH (May 2020 - May 2021): €9.45B, (52.1%)
MAIN EXPORTER (May 2021): Barcelona, €5.2B
MAIN DESTINATION (May 2021): France, €3.99B
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.
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In 2019, Spain exported a total of $319B, making it the number 16 exporter in the world. During the last five reported years the exports of Spain have changed by $8.66B from $311B in 2014 to $319B in 2019.
The most recent exports are led by Cars ($34.5B), Refined Petroleum ($12.3B), Vehicle Parts ($10.6B), Packaged Medicaments ($9.95B), and Delivery Trucks ($6.07B). The most common destination for the exports of Spain are France ($47.4B), Germany ($34.9B), Portugal ($25.8B), Italy ($25.5B), and United Kingdom ($22.1B).
Top Import (2019): Crude Petroleum, $27.8B
Top Origin (2019): Germany, $47.8B
In 2019 Spain imported $368B, making it the number 15 trade destination in the world. During the last five reported years the imports of Spain changed by $19.5B from $348B in 2014 to $368B in 2019.
The most recent imports of Spain are led by Crude Petroleum ($27.8B), Cars ($21.6B), Vehicle Parts ($13.2B), Packaged Medicaments ($10B), and Petroleum Gas ($8.58B). The most common import partners for Spain are Germany ($47.8B), France ($40.8B), China ($29.8B), Italy ($26.7B), and Netherlands ($16.5B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Spain Exports Services (2019): $138B
Spain Imports Services (2019): $80B
In 2019, Spain exported $138B worth of services. The top services exported by Spain in 2019 were Personal travel ($74.9B), Miscellaneous business, professional, and technical services ($24.8B), Transportation ($18.7B), Business travel ($4.8B), and Financial services ($3.85B).
The top services imported by Spain in 2019 were Travel ($27.9B), Miscellaneous business, professional, and technical services ($21.2B), Transportation ($12.4B), Royalties and license fees ($6.84B), and Merchanting and other trade-related services ($3.05B).
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.
*The tariffs applied to imports for Spain are:
This section shows exports, imports and economic complexity data at subnational level for Spain. Click any of the Provincie in the geomap to visit the specific subnational profile.
The top territories of Spain according to its Economic Complexity Index are Guipúzcoa (0.4), Alava (0.39), and Vizcaya (0.28).
In 2020, the principal exporters of Spain were Barcelona (€50.7B), Madrid (€29.3B), and Valencia (€16.2B).
The same year, the principal importers of Spain were Madrid (€62.1B), Barcelona (€61.1B), and Valencia (€16.7B).
Spain has a high level of specialization in Slate (28.6), Pure Olive Oil (26.8), Lettuce (16.6), Cucumbers (15.1), and Self-Propelled Rail Transport (14.5). Specialization is measured using RCA, an index that takes the ratio between Spain observed and expected exports in each product.
The highest complexity exports of Spain according to the product complexity index (PCI) are Machine-tools for non-mechanical removal of material (1.81), Interchangeable tools and dies for hand or power tools (1.79), Bar or rod of stainless steel, hot rolled, coiled (1.78), Sharpening, honing, lapping, grinding machine tools (1.77), and Self-propelled rail/tramway vehicles (not locomotives) (1.69). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Spain according to the relatedness index, are Wheat Flours (0.52), Raw Tobacco (0.51), Other Oily Seeds (0.51), Yeast (0.51), and Soap (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.
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.
During the last 20 years Spain's economy has become relatively less complex, moving from the 18th to the 36th 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.