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2022
Exports $1.07BWorld Rnk 40 / 149
Flag Rnk 68 / 1214
2022
Destination $680M India
2021 - 2022
FASTEST GROWING MARKET $680MIndia
2022
PRODUCT COMPLEXITY IN Crude Petroleum-2.25Rnk 1011 / 1025
2022
Imports $42.6BWorld Rnk 8 / 158
Flag Rnk 1 / 1214
2022
Origin $3.38B Nigeria
2021 - 2022
FASTEST GROWING ORIGIN $3.38BUnited States
2022
ECONOMIC COMPLEXITY of Spain0.81Rnk 33 / 133

About

Exports In 2022, Spain exported $1.07B in Crude Petroleum, making it the 40th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 68th most exported product in Spain. The main destination of Crude Petroleum exports from Spain are: India ($680M), France ($301M), Italy ($57.7M), Poland ($24.5M), and Lithuania ($5.51M).

The fastest growing export markets for Crude Petroleum of Spain between 2021 and 2022 were India ($680M), France ($121M), and Poland ($24.5M).

Imports In 2022, Spain imported $42.6B in Crude Petroleum, becoming the 8th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most imported product in Spain. Spain imports Crude Petroleum primarily from: Nigeria ($6.72B), United States ($5.5B), Brazil ($3.57B), Libya ($3.35B), and Mexico ($3.26B).

The fastest growing import markets in Crude Petroleum for Spain between 2021 and 2022 were United States ($3.38B), Brazil ($2.5B), and Iraq ($1.45B).

Latest Trends

August 2024

About

Overview In August 2024 Spain's Crude Petroleum exports accounted up to €186M and imports accounted up to €3B, resulting in a negative trade balance of €2.82B. Between August 2023 and August 2024 the exports of Spain's   Crude Petroleum have increased by €35.5M (23.6%) from €150M to €186M, while imports increased by €80.1M (2.74%) from €2.92B to €3B.

Destinations In August 2024, Crude Petroleum were exported mostly to France (€138M), Italy (€47.7M), Colombia (€4.29k), Argentina (€296), and Portugal (€86.4), and were imported mostly from United States (€548M), Angola (€314M), Mexico (€286M), Brazil (€279M), and Nigeria (€238M).

Growth In August 2024, the increase in Crude Petroleum's year-by-year exports was explained primarily by an increase in exports to France (€65.4M or 326%). In August 2024, the increase in Crude Petroleum's year-by-year imports was explained primarily by an increase in imports from Kazakhstan (€181M or 121%), Mexico (€150M or 55%), and Azerbaijan (€80.5M or 110%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)€35.5M(23.6%)
IMPORT GROWTH (August 2023 - August 2024)€80.1M(2.74%)
MAIN EXPORTER (August 2024)Murcia€164M
MAIN DESTINATION (August 2024)France€138M

This section shows Crude Petroleum's exports and imports data at subnational level for Spain. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Crude Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.07B
IMPORTS (2022)$42.6B
NET TRADE (2022)-$41.5B

In 2022, Spain exported $1.07B in Crude Petroleum. The main destinations of Spain exports on Crude Petroleum were India ($680M), France ($301M), Italy ($57.7M), Poland ($24.5M), and Lithuania ($5.51M).

In 2022, Spain imported $42.6B in Crude Petroleum, mainly from Nigeria ($6.72B), United States ($5.5B), Brazil ($3.57B), Libya ($3.35B), and Mexico ($3.26B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Spain WERE (2021 - 2022):
India$680M (1%)
France$121M (67.3%)
Poland$24.5M (986k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Spain WERE (2021 - 2022):
Italy-$62.7M (-52.1%)
Slovenia-$42.5M (-100%)
Portugal-$26.5M (-85.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Spain's main exporting competitors in Crude Petroleum were:
Saudi Arabia $236B
Russia $133B
Canada $123B
In 2022, Spain's main importing competitors in Crude Petroleum were:
China $287B
United States $199B
India $170B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $158M
TOP IMPORT POTENTIALAlgeria+ $954M

Crude Petroleum’s highest export potential is India. With an export gap of $158M.   Crude Petroleum’s highest import potential is Algeria with an import gap of $954M.

See methodology.

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