Vietnam (VNM) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Vietnam-Spain Trade: In 2023, Vietnam exported $4.79B to Spain. The main products that Vietnam exported to Spain were Broadcasting Equipment ($693M), Textile Footwear ($431M), and Coffee ($343M). Over the past 5 years the exports of Vietnam to Spain have increased at an annualized rate of 8.36%, from $3.2B in 2018 to $4.79B in 2023.

In 2023, Vietnam did not export any services to Spain.

Spain-Vietnam Trade: In 2023, Spain exported $555M to Vietnam. The main products that Spain exported to Vietnam were Ethylene Polymers ($43.3M), Packaged Medicaments ($26.2M), and Navigation Equipment ($22.9M). Over the past 5 years the exports of Spain to Vietnam have increased at an annualized rate of 0.44%, from $543M in 2018 to $555M in 2023.

In 2023, Spain did not export any services to Vietnam.

Comparison: In 2023, Vietnam ranked 60 in the Economic Complexity Index (ECI 0.067), and 15 in total exports ($424B). That same year, Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Vietnam exported $4.79B to Spain. The main products exported from Vietnam to Spain were Broadcasting Equipment ($693M), Textile Footwear ($431M), and Coffee ($343M). During the last 5 years the exports of Vietnam to Spain have increased at an annualized rate of 8.36%, from $3.2B in 2018 to $4.79B in 2023.

In 2018, Spain exported $555M to Vietnam. The main products exported from Spain to Vietnam were Ethylene Polymers ($43.3M), Packaged Medicaments ($26.2M), and Navigation Equipment ($22.9M). During the last 5 years the exports of Spain to Vietnam have increased at an annualized rate of 0.44%, from $543M in 2023 to $555M in 2018.

Exports from Vietnam () to Spain () (2023)

Exports from Spain () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Spain ()

Spain Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$118B

Spain
Top DestinationFrance$61.9B

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

In 2023, countries that imported more from Vietnam than Spain included United States ($118B), China ($85.7B), and Japan ($25.1B).

In 2023, countries that imported more from Spain than Vietnam included France ($61.9B), Portugal ($38.1B), and Italy ($34.7B).

Difference in imports from Spain () and Vietnam () (2023)

Comparative Advantage Vietnam - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Vietnam had a large net trade with Spain in the exports of Machines ($1.26B), Footwear and Headwear ($948M), and Textiles ($928M).

During 2018, Spain had a large net trade with Vietnam in the exports of Chemical Products ($142M), Machines ($98.8M), and Plastics and Rubbers ($67.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Vietnam Spain+$298MTelephones

Top Product Potential Spain Vietnam+$30.2MPackaged Medicaments

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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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Spain () (2023)

Exports from Spain () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Spain ()

Spain Exports

Market Competitiveness

Difference in imports from Spain () and Vietnam () (2023)

Comparative Advantage Vietnam - Spain

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Vietnam () and Spain () (2023)

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