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2022
Flag → Flag
Exports $5.31BRnk 29 / 217
2022
Flag → Flag
Top Product $295MNitrogen Heterocyclic Compounds
2022
Flag → Flag
Exports $2.66BRnk 25 / 218
2022
Flag → Flag
Top Product $680MCrude Petroleum
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
Flag  
GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH85.2%CURRENT US$
Rnk 24 / 186
2022
Flag
 GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
Flag
GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
Flag
GDP PC $2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC$29,350CURRENT US$
Rnk 40 / 186
2012-2022
Flag
GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186

About

India-Spain Trade: In 2022, India exported $5.31B to Spain. The main products that India exported to Spain were Nitrogen Heterocyclic Compounds ($295M), Molluscs ($218M), and Refined Petroleum ($192M). Over the past 5 years the exports of India to Spain have increased at an annualized rate of 5.04%, from $4.15B in 2017 to $5.31B in 2022.

In 2022, India did not export any services to Spain.

Spain-India Trade: In 2022, Spain exported $2.66B to India. The main products that Spain exported to India were Crude Petroleum ($680M), Refined Petroleum ($108M), and Prepared Pigments ($103M). Over the past 5 years the exports of Spain to India have increased at an annualized rate of 8.65%,  from $1.76B in 2017 to $2.66B in 2022.

In 2018, Spain exported services to India worth $0, with being the largest in terms of value.

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Latest Trends

August, 2024

About

Overview In August 2024, India exported $362M and imported $188M from Spain, resulting in a positive trade balance of $174M. Between August 2023 and August 2024 the exports of India have decreased by $-81.8M (-18.4%) from $444M to $362M, while imports decreased by $-8.99M (-4.56%) from $197M to $188M.

Trade In August 2024, the top exports of India to Spain were Rmg Cotton Incl Accessories ($36.5M), Iron And Steel ($22.2M), Telecom Instruments ($19.7M), Residul Chemicl And Alled Prod ($19.1M), and Products Of Iron And Steel ($15.2M). In August 2024 the top imports of India from Spain were Petroleum Products ($54.9M), Indl. Machnry For Dairy Etc ($16M), Paint, Varnish And Allid Prodc ($12.6M), Paper, Paper Board And Product ($12.4M), and Residul Chemicl And Alled Prod ($12.3M).

Growth In August 2024, the decrease in India's year-by-year exports to Spain was explained primarily by an decrease in product exports in Aluminium, Products Of Aluminm ($-31.7M or -79.9%), Organic Chemicals ($-13.3M or -56.4%), and Manmade Yarn,Fabrics,Madeups ($-4.55M or -36.6%). In August 2024, the decrease in India's year-by-year imports  from Spain was explained primarily by an decrease in product imports  in Machine Tools ($-3.34M or -53.4%), Iron And Steel ($-2.88M or -32%), and Organic Chemicals ($-2.36M or -41.8%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)$-81.8M(-18.4%)
IMPORT GROWTH (August 2023 - August 2024)$-8.99M(-4.56%)

This section shows exports and imports data at subnational level for India. Click any date in the line plot or any product to explore the exports or imports behavior of India over time.

To check Spain and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Spain and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $5.31B to Spain. The main products exported from India to Spain were Nitrogen Heterocyclic Compounds ($295M), Molluscs ($218M), and Refined Petroleum ($192M). During the last 5 years the exports of India to Spain have increased at an annualized rate of 5.04%, from $4.15B in 2017 to $5.31B in 2022.

In 2017, Spain exported $2.66B to India. The main products exported from Spain to India were Crude Petroleum ($680M), Refined Petroleum ($108M), and Prepared Pigments ($103M). During the last 5 years the exports of Spain to India have increased at an annualized rate of 8.65%, from $1.76B in 2022 to $2.66B in 2017.

Exports from India (Flag) to Spain (Flag) (2022)

Exports from Spain (Flag) to India (Flag) (2022)

Market Competitiveness

Color
India
Top DestinationUnited States$82.9B
Spain
Top DestinationFrance$65.2B

This map shows whether countries import more from India or Spain. Each country is colored based on the difference in imports they receive from India and Spain or the difference in the growth in imports.

In 2022, countries that imported more from India than Spain included United States ($82.9B), United Arab Emirates ($31.6B), and Bangladesh ($13.8B).

In 2022, countries that imported more from Spain than India included France ($65.2B), Portugal ($34.9B), and Germany ($39.2B).

Difference in imports from Spain (Flag) and India (Flag) (2022)

Comparative Advantage India - Spain

Flow
Scale

This chart compares trade between India and Spain by product, considering products traded by both, India and Spain.

During 2022, India had a large net trade with Spain in the exports of Chemical Products ($1.02B), Textiles ($1.02B), and Metals ($844M).

During 2017, Spain had a large net trade with India in the exports of Mineral Products ($821M), Chemical Products ($547M), and Machines ($340M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Spain+$461MRefined Petroleum
Top Product Potential Spain India+$186MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2018, Spain exported services to India worth $0, with being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to India (Flag) (2018)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of India and Spain. This means that a dot/product with the flag of India indicates it has a comparative advantage over Spain. Similarly, a dot/product with the flag of Spain indicates it has a comparative advantage over India.

Product Space of India (Flag) and Spain (Flag) (2022)

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