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2023
Exports $295MWorld Rnk 54 / 150
Flag Rnk 258 / 1215
2023
Destination $61.6M France
2022 - 2023
FASTEST GROWING MARKET $61.6MFrance
2023
PRODUCT COMPLEXITY IN Crude Petroleum-2.37Rnk 1015 / 1025
2023
Imports $35.7BWorld Rnk 8 / 159
Flag Rnk 1 / 1214
2023
Origin $824M United States
2022 - 2023
FASTEST GROWING ORIGIN $824MAngola
2023
ECONOMIC COMPLEXITY of Spain0.86Rnk 31 / 132

About

Exports In 2023, Spain exported $295M in Crude Petroleum, making it the 54th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 258th most exported product in Spain. The main destination of Crude Petroleum exports from Spain are: France ($97.6M), India ($96.2M), Poland ($29.8M), Ireland ($29.3M), and Slovenia ($25.9M).

The fastest growing export markets for Crude Petroleum of Spain between 2022 and 2023 were France ($61.6M), Ireland ($29.3M), and Slovenia ($25.9M).

Imports In 2023, Spain imported $35.7B 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: United States ($5.85B), Mexico ($3.76B), Nigeria ($3.64B), Brazil ($3.42B), and Libya ($2.91B).

The fastest growing import markets in Crude Petroleum for Spain between 2022 and 2023 were Angola ($824M), United States ($97.9M), and Greece ($86.7M).

Latest Trends

November 2024

About

Overview In November 2024 Spain's Crude Petroleum exports accounted up to €143M and imports accounted up to €2.76B, resulting in a negative trade balance of €2.62B. Between November 2023 and November 2024 the exports of Spain's   Crude Petroleum have decreased by €-34.1M (-19.3%) from €177M to €143M, while imports decreased by €-248M (-8.23%) from €3.01B to €2.76B.

Destinations In November 2024, Crude Petroleum were exported mostly to France (€53M), Italy (€27.6M), Slovenia (€22.3M), Croatia (€19.1M), and Portugal (€13M), and were imported mostly from United States (€464M), Mexico (€453M), Brazil (€389M), Kazakhstan (€248M), and Nigeria (€223M).

Growth In November 2024, the decrease in Crude Petroleum's year-by-year exports was explained primarily by a decrease in exports to Italy (€-9.47M or -24.3%). In November 2024, the decrease in Crude Petroleum's year-by-year imports was explained primarily by a decrease in imports from United Kingdom (€-139M or -75.1%), Nigeria (€-107M or -25.4%), and Iraq (€-86.4M or -58.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)€-34.1M(-19.3%)
IMPORT GROWTH (November 2023 - November 2024)€-248M(-8.23%)
MAIN EXPORTER (November 2024)Murcia€164M
MAIN DESTINATION (November 2024)France€53M

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 (2023)$295M
IMPORTS (2023)$35.7B
NET TRADE (2023)-$35.4B

In 2023, Spain exported $295M in Crude Petroleum. The main destinations of Spain exports on Crude Petroleum were France ($97.6M), India ($96.2M), Poland ($29.8M), Ireland ($29.3M), and Slovenia ($25.9M).

In 2023, Spain imported $35.7B in Crude Petroleum, mainly from United States ($5.85B), Mexico ($3.76B), Nigeria ($3.64B), Brazil ($3.42B), and Libya ($2.91B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Spain WERE (2022 - 2023):
France$61.6M (171%)
Ireland$29.3M (1%)
Slovenia$25.9M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Spain WERE (2022 - 2023):
India-$583M (-85.8%)
Lithuania-$6.29M (-100%)
China-$139k (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Spain's main exporting competitors in Crude Petroleum were:
Saudi Arabia $181B
United States $125B
Russia $122B
In 2023, Spain's main importing competitors in Crude Petroleum were:
China $319B
United States $170B
India $140B

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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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