Spain2020 Economic Complexity : 0.76, Rank 34 of 127
2020 Product Exports | Imports: $298B | $315B, 17 of 226 | 15 of 226
2020 Per Capita Product Exports | Imports: $6.3k | $6.66k, 44 of 219 | 36 of 219
2019 Service Exports | Imports : $138B | $80B, 5 of 69 | 7 of 69
Overview In 2020 Spain was the number 14 economy in the world in terms of GDP (current US$), the number 17 in total exports, the number 15 in total imports, the number 36 economy in terms of GDP per capita (current US$) and the number 34 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Spain are Cars ($32B), Packaged Medicaments ($11.6B), Vehicle Parts ($9.14B), Refined Petroleum ($7.77B), and Pig Meat ($6.46B), exporting mostly to France ($47.6B), Germany ($34B), Portugal ($23.8B), Italy ($22.8B), and United Kingdom ($18.9B).
In 2020, Spain was the world's biggest exporter of Pig Meat ($6.46B), Citrus ($4.16B), Pure Olive Oil ($3.26B), Prepared Pigments ($979M), and Melons ($889M)
Imports The top imports of Spain are Crude Petroleum ($15.8B), Cars ($13.9B), Vehicle Parts ($11B), Packaged Medicaments ($10.7B), and Petroleum Gas ($5.5B), importing mostly from Germany ($41.2B), France ($33.9B), China ($30.3B), Italy ($22B), and Netherlands ($15.5B).
In 2020, Spain was the world's biggest importer of Molluscs ($1.31B), Tar ($57.1M), Olive Oil ($49.8M), and Hemp Fibers ($6.82M)
Location Spain borders Andorra, France, Morocco, Portugal, and Gibraltar by land and Algeria and Italy by sea.
March, 2022
Overview In March 2022 Spain exported €29.2B and imported €35.4B, resulting in a negative trade balance of €6.11B. Between March 2021 and March 2022 the exports of Spain have increased by €585M (2.04%) from €28.7B to €29.2B, while imports increased by €6.1B (20.9%) from €29.2B to €35.4B.
Trade In March 2022, the top exports of Spain were Cars (€2.41B), Refined Petroleum (€2.1B), Packaged Medicaments (€1.03B), Motor vehicles; parts and accessories (8701... (€785M), and Electricity (€707M). In March 2022 the top imports of Spain were Crude Petroleum (€3.58B), Petroleum Gas (€2.15B), Cars (€1.28B), Packaged Medicaments (€1.14B), and Motor vehicles; parts and accessories (8701... (€1.12B).
Origins In March 2022 the exports of Spain were mainly from Barcelona (€5.95B), Madrid (€3.45B), Valencia (€1.72B), La Coruña (€1.22B), and Zaragoza (€1.13B), while imports destinations were mainly Madrid (€8.48B), Barcelona (€7.44B), Valencia (€1.76B), Tarragona (€1.43B), and Murcia (€1.38B).
Destinations In March 2022, Spain exported mostly to France (€4.72B), Germany (€3.13B), Portugal (€2.61B), Italy (€2.38B), and United Kingdom (€1.68B), and imported mostly from Germany (€3.65B), France (€3.48B), China (€3.02B), United States (€2.87B), and Italy (€2.38B).
Growth In March 2022, the increase in Spain's year-by-year exports was explained primarily by an increase in exports to China (€136M or 25.9%), Sweden (€67.7M or 33.7%), and Democratic Republic of the Congo (€54.5M or 2.47k%), and product exports increase in Electricity (€64.5M or 128%), Crude Petroleum (€58.6M or 616k%), and Electric Batteries (€55.9M or 78.5%). In March 2022, the increase in Spain's year-by-year imports was explained primarily by an increase in imports from Kazakhstan (€113M or 126%), Peru (€35.7M or 39.3%), and Sweden (€32.7M or 14.2%), and product imports increase in Computers (€125M or 44.8%), Electric Batteries (€83M or 98.6%), and Vaccines, blood, antisera, toxins and cultures (€72.5M or 23.4%).
EXPORT GROWTH (March 2021 - March 2022): €585M, (2.04%)
IMPORT GROWTH (March 2021 - March 2022): €6.1B, (20.9%)
MAIN EXPORTER (March 2022): Barcelona, €5.95B
MAIN DESTINATION (March 2022): France, €4.72B
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 2020, Spain exported a total of $298B, making it the number 17 exporter in the world. During the last five reported years the exports of Spain have changed by $22.6B from $276B in 2015 to $298B in 2020.
The most recent exports are led by Cars ($32B), Packaged Medicaments ($11.6B), Vehicle Parts ($9.14B), Refined Petroleum ($7.77B), and Pig Meat ($6.46B). The most common destination for the exports of Spain are France ($47.6B), Germany ($34B), Portugal ($23.8B), Italy ($22.8B), and United Kingdom ($18.9B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
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 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:
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 Alava (0.39), Guipúzcoa (0.38), 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).
Spain has a high level of specialization in Slate (28.6), Pure Olive Oil (23.6), Lettuce (16.6), Cucumbers (15.2), and Citrus (14.4). 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 Self-propelled rail/tramway vehicles (not locomotives) (1.78), Interchangeable tools and dies for hand or power tools (1.69), Lathes for removing metal (1.68), Bar or rod of stainless steel, hot rolled, coiled (1.68), and Lubricant, oils, textile, leather work, <70% petroleum (1.66). 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 Knit Men's Shirts (0.52), Wheat Flours (0.52), Raw Tobacco (0.51), Non-Knit Women's Undergarments (0.51), and Equine and Bovine Hides (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.
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.
During the last 20 years Spain's economy has become relatively less complex, moving from the 19th to the 34th 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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