Overview In 2021, Spain was the number 14 economy in the world in terms of GDP (current US$), the number 16 in total exports, the number 15 in total imports, the number 32 economy in terms of GDP per capita (current US$) and the number 35 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Spain are Cars ($34.4B), Refined Petroleum ($12.4B), Packaged Medicaments ($12.2B), Motor vehicles; parts and accessories (8701 to 8705) ($10.8B), and Vaccines, blood, antisera, toxins and cultures ($8.93B), exporting mostly to France ($59B), Germany ($38.3B), Italy ($30.6B), Portugal ($30.5B), and United Kingdom ($21.6B).

In 2021, Spain was the world's biggest exporter of Pig Meat ($6.47B), Citrus ($4.12B), Pure Olive Oil ($3.93B), Iron Blocks ($2.07B), and Prepared Pigments ($1.2B)

Imports The top imports of Spain are Crude Petroleum ($26.7B), Cars ($15.9B), Packaged Medicaments ($11.8B), Motor vehicles; parts and accessories (8701 to 8705) ($11.6B), and Vaccines, blood, antisera, toxins and cultures ($11.2B), importing mostly from Germany ($49.6B), France ($41.6B), China ($38.5B), Italy ($29.7B), and Netherlands ($20.7B).

In 2021, Spain was the world's biggest importer of Olive Oil ($80.2M), Unvulcanised Rubber Products ($40.9M), and Fat and Oil Residues ($25.8M)

Location Spain borders Andorra, France, Morocco, Portugal, and Gibraltar by land and Algeria and Italy by sea.

March, 2023

Historical Data

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Top Export (2021): Cars, $34.4B

Top Destination (2021): France, $59B

In 2021, Spain exported a total of $372B, making it the number 16 exporter in the world. During the last five reported years the exports of Spain have changed by $88.3B from $284B in 2016 to $372B in 2021.

The most recent exports are led by Cars ($34.4B), Refined Petroleum ($12.4B), Packaged Medicaments ($12.2B), Motor vehicles; parts and accessories (8701 to 8705) ($10.8B), and Vaccines, blood, antisera, toxins and cultures ($8.93B). The most common destination for the exports of Spain are France ($59B), Germany ($38.3B), Italy ($30.6B), Portugal ($30.5B), and United Kingdom ($21.6B).

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Fastest Growing Export Markets (2020 - 2021)

Fastest Growing Import Markets (2020 - 2021)

Spain Exports Services (2020): $74.9B

Spain Imports Services (2020): $54.6B

In 2020, Spain exported $74.9B worth of services. The top services exported by Spain in 2020 were Miscellaneous business, professional, and technical services ($25.8B), Personal travel ($17.3B), Transportation ($16.2B), Financial services ($3.9B), and Royalties and license fees ($2.93B).

The top services imported by Spain in 2020 were Miscellaneous business, professional, and technical services ($19.1B), Transportation ($10.4B), Travel ($8.65B), Royalties and license fees ($5.11B), and Financial services ($3.33B).

Economic Complexity

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Comparison Map

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This section shows exports, imports and economic complexity data at the subnational level for Spain. Click any of the Provincie in the geomap to visit the specific subnational profile.

The top territories of Spain according to its Economic Complexity Index are Guipúzcoa (0.33), Alava (0.31), and Vizcaya (0.27).

The principal exporters of Spain were Barcelona (€73.7B), Madrid (€55.2B), and Valencia (€21.5B).

The same year,  the principal importers of Spain were Madrid (€108B), Barcelona (€87.6B), and Valencia (€24.2B).

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Most Specialized Products by RCA Index

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Spain has a high level of specialization in Worked Slate (29.6), Olive Oil (25.5), Pure Olive Oil (24.1), Lettuce (17.8), and Cucumbers (15.6). Specialization is measured using RCA, an index that takes the ratio between Spain observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Spain according to the product complexity index (PCI) are Lathes for removing metal (1.66), Stainless steel bars and rods, hot-rolled, in irregularly wound coils (1.65), Phenols; monophenols, polyphenols, and phenol-alcohols (1.62), Parts & accessories suited for use only/mainly with machines of headings 8456-8465,... (1.61), and Lubricating preparations and those used in oil or grease treatment of textile... (1.56). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Spain according to the relatedness index, were Knit Men's Shirts (0.52), Wheat Flours (0.52), Recreational Boats (0.52), Frozen Fruits and Nuts (0.52), and Raw Sugar (0.52). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Spain is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Spain. These are products that tend to be co-exported with the products that Spain exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Spain's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨19th to the 35th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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