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.

August, 2021

Historical Data

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Yearly Exports

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Top Export (2019): Cars, $34.5B

Top Destination (2019): France, $47.4B

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).

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Yearly Imports

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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).

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Flow

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).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Spain are Vermouth and other flavoured grape wines - pack > 2l (72.3k%) and Vermouth and other flavoured grape wines - pack > 2l (50.6k%).

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:
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
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
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)
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
398: Preferential tariff for Samoa
399: Comprehensive Economic and Trade Agreement (CETA)

Economic Complexity

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Comparison Map

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This section shows exports, imports and economic complexity data at the 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 (€50.1B), Madrid (€28.4B), and Valencia (€16.1B).

The same year,  the principal importers  of Spain were Madrid (€62B), Barcelona (€61B), and Valencia (€16.7B).

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Most Specialized Products by RCA Index

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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.

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 (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.

Export Opportunities by Relatedness

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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 a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Spain. These are products that tend to be co-exported with the products that Spain exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Economic Complexity Ranking

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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.

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