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2023
Flag → Flag
Exports $17.7BRnk 1 / 211
2023
Flag → Flag
Top Product $1.23BMotor vehicles; parts and accessories (8701 to 8705)
2023
Flag → Flag
Exports $38.1BRnk 3 / 220
2023
Flag → Flag
Top Product $2.09BCars
2023
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
Flag  
GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
Flag
GDP GROWTH27.5%CURRENT US$
Rnk 119 / 195
2023
Flag
 GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
Flag
GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
Flag
GDP PC $27,331CURRENT US$
Rnk 50 / 195
2013-2023
Flag
GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195
2023
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GDP PC$33,509CURRENT US$
Rnk 40 / 196
2013-2023
Flag
GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195

About

Portugal-Spain Trade: In 2023, Portugal exported $17.7B to Spain. The main products that Portugal exported to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.23B), Electricity ($680M), and Centrifuges ($556M). Over the past 5 years the exports of Portugal to Spain have increased at an annualized rate of 4.23%, from $14.4B in 2018 to $17.7B in 2023.

In 2020, Portugal exported services to Spain worth $3.15B, with Travel ($1.15B), Transportation ($1.11B), and Other business services ($690M) being the largest in terms of value.

Spain-Portugal Trade: In 2023, Spain exported $38.1B to Portugal. The main products that Spain exported to Portugal were Cars ($2.09B), Refined Petroleum ($1.48B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.35B). Over the past 5 years the exports of Spain to Portugal have increased at an annualized rate of 4.91%,  from $30B in 2018 to $38.1B in 2023.

In 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

Comparison: In 2023,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B). That same year, Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B).

Latest Trends

November, 2024

About

Overview In November 2024, Portugal exported €1.86B and imported €3.03B from Spain, resulting in a negative trade balance of €1.17B. Between November 2023 and November 2024 the exports of Portugal have decreased by €-7.84M (-0.42%) from €1.87B to €1.86B, while imports decreased by €-104M (-3.33%) from €3.13B to €3.03B.

Trade In November 2024, the top exports of Portugal to Spain were Cars, tractors, trucks & parts thereof. (€213M), Mineral fuels, mineral oils and products... (€152M), Machinery, mechanical appliances, & parts (€112M), Plastics & articles thereof (€111M), and Electrical machinery and electronics (€82.6M). In November 2024 the top imports of Portugal from Spain were Cars, tractors, trucks & parts thereof. (€284M), Mineral fuels, mineral oils and products... (€236M), Electrical machinery and electronics (€184M), Machinery, mechanical appliances, & parts (€149M), and Plastics & articles thereof (€138M).

Growth In November 2024, the decrease in Portugal's year-by-year exports to Spain was explained primarily by an decrease in product exports in Plastics & articles thereof (€-16.7M or -13.1%), Iron & steel (€-11.7M or -12.8%), and Cars, tractors, trucks & parts thereof. (€-10.3M or -4.6%). In November 2024, the decrease in Portugal's year-by-year imports  from Spain was explained primarily by an decrease in product imports  in Mineral fuels, mineral oils and products... (€-69.6M or -22.8%), Plastics & articles thereof (€-18.2M or -11.6%), and Aluminum articles (€-14.1M or -20%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)€-7.84M(-0.42%)
IMPORT GROWTH (November 2023 - November 2024)€-104M(-3.33%)

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

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

For full datasets download visit Bulk Download page.

Explore Spain and Portugal Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Portugal exported $17.7B to Spain. The main products exported from Portugal to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.23B), Electricity ($680M), and Centrifuges ($556M). During the last 5 years the exports of Portugal to Spain have increased at an annualized rate of 4.23%, from $14.4B in 2018 to $17.7B in 2023.

In 2018, Spain exported $38.1B to Portugal. The main products exported from Spain to Portugal were Cars ($2.09B), Refined Petroleum ($1.48B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.35B). During the last 5 years the exports of Spain to Portugal have increased at an annualized rate of 4.91%, from $30B in 2023 to $38.1B in 2018.

Exports from Portugal (Flag) to Spain (Flag) (2023)

Exports from Spain (Flag) to Portugal (Flag) (2023)

Market Competitiveness

Color
Portugal
Top DestinationSpain$17.7B
Spain
Top DestinationFrance$61.9B

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

In 2023, countries that imported more from Portugal than Spain included Angola ($1.64B), Cape Verde ($536M), and Algeria ($530M).

In 2023, countries that imported more from Spain than Portugal included France ($61.9B), Germany ($40.2B), and Italy ($34.7B).

Difference in imports from Spain (Flag) and Portugal (Flag) (2023)

Comparative Advantage Portugal - Spain

Flow
Scale

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

During 2023, Portugal had a large net trade with Spain in the exports of Transportation ($2.16B), Machines ($2.08B), and Metals ($2.08B).

During 2018, Spain had a large net trade with Portugal in the exports of Machines ($4.81B), Transportation ($4.17B), and Metals ($4.14B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal Spain+$253MCars
Top Product Potential Spain Portugal+$278MCars

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 2020, Portugal exported services to Spain worth $3.15B, with Travel ($1.15B), Transportation ($1.11B), and Other business services ($690M) being the largest in terms of value.

In 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Portugal (Flag) to Spain (Flag) (2020)

Services Exports from Spain (Flag) to Portugal (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Portugal (Flag) and Spain (Flag) (2023)

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