Spain is the 17th largest export economy in the world, with exports from Spain totalling £214 billion annually. Over the last five years, yearly export sales have continued to increase, growing at a rate of 1.72%. The products that Spain exports are highly valued within the market for quality and the country has much to offer, exporting a range of commodities and services.
Spanish imports represent 1.9% of total global imports, purchased from other European countries, Asian trade partners, and providers in Africa. North America, Australia, and New Zealand all contributed to the yearly product demand.
Want to know what are the main exports and imports of Spain? Read on…
Top ten table of exports
- Vehicles and accessories
- Machinery including computers
- Refined petroleum
- Delivery trucks
- Olive oil
- Leather footwear
Exports of Spain in more detail
France is the largest recipient of Spain’s exports taking around 15% of the country’s total exported goods. It also does a lot of shipping to Germany and Italy, as well as to the United States.
Spain’s main export is cars making it second only to Germany in global rankings. Their automotive parts and accessories are the 6th highest used in the world. Spanish passenger cars sold to the USA total over 36 million.
Cars are produced in different cities covering Barcelona, Martorell, Figueruelas, and Vigo. Nine out of ten cars manufactured here are exported to over 130 countries. Several car models are produced from these plants including Mercedes-Benz, Nissan, and Ford.
Refined petroleum started to be exported in the 1980s with over 10 million tonnes shipped annually. Oil refinery capacities in Spain can contain 1,000 barrels daily, and some of the refined petrol products also include lubricants, kerosene, and fuel and gas oils.
Pharmaceutical companies in Spain have always been high on the list of exporters. In 2018 Spain shipped medicine and drugs globally to the tune of 7 million pounds worth, with increased revenue being noted in the following years. GSK is a pharmaceutical company with 3.8% of the market share, with other companies such as Bayer and Johnson and Johnson being competitive market players.
Two commodities where Spain excels at exporting are citrus and olive oil. The annual citrus market is dominated by the country with a share of 27%. China follows with a 9.9% market share.
Spain is also accountable for the production of 49% of the world’s olive oil – followed by Italy producing 23%. Demand for Spanish olive oil continues to grow, with most production coming from the region of Andalucía. Here there are over 500 companies exporting olive oil, accounting for half of the land under production within the European Union.
Meat is the fastest-growing export with an increase of 24% since 2018. The Spanish meat sector actually exported 2.27 million tons of meat and processed products to markets all over the world, and that figure continues to grow. These outstanding figures can be related to the exceptional performance of the pork sector in which Spain has become one of the four largest global exporters.
Export procedures include a declaration lodged when goods are exported, foreign exchange formalities, and the completion of any legal permit requirements.
Top ten table of imports
These top ten imports represented almost 64% of the overall value of product purchases from other countries. The main imports from Spain can be seen below:
- Mineral fuels including oil
- Clothing and textiles
- Vehicle parts
- Palm oil
- Packaged medicaments
- Medical apparatus
Imports to Spain in more detail
Imports to Spain of crude oil have been increasing since the 1980s, with record highs of 1,364 barrels per day by the year-end. Within Europe, Spain is the 6th largest energy consumer, but as the country doesn’t have oil resources it has to be imported from countries such as Saudi Arabia, Mexico, and Nigeria. To sustain energy consumption needs Spain has to purchase around 18 million pounds to obtain 46% of liquid fuel required.
Spain has been shipping in steel for centuries and continues to be the 14th largest steel importer in the world. Many industries within the country rely on steel, such as car manufacturing and weapon building trades, resulting in the importation of huge amount to meet the demands.
Clothing and textile imports continue to see continuous growth – Spain is now the 6th largest importer of textiles in the world with items being shipped from China, Portugal, Turkey, and Bangladesh for example. These market places are perfect for import as they have extremely versatile trading zones. As designers look to increase their output and grow their industry Spain can meet their import demands.
Import procedures include submitting sales or proforma invoice, declaration of the manifest, and a common-law declaration with accompanying documents to the Customs Office.