Spain is the 16th largest export economy in the world and the 28th most complex economy . Spain exported $296B, making it the 16th largest exporter in the world. Spain imported $332B, making it the 14th largest importer in the world. Spain’s top export and import partners are from the EU region. Key export commodities of the nation include motor vehicles, foodstuffs, medicines, machinery and pharmaceuticals.
Spanish exports rose 8.9 percent from the previous year to an all-time high of EUR 277 billion. Within the Autonomous Communities, the biggest exporters were Catalonia (26 percent of total exports), Andalusia, Madrid and Valencia (11 percent each) and the Basque Country (9 percent). Spain main exports were: capital goods (20 percent of total exports); food, beverages and tobacco (17 percent); automotive sector (16 percent); chemicals (14 percent); consumer goods (10 percent); non-chemical semi-manufactured products (10 percent); and energy products (7 percent). Main export partners were: France (15 percent of total exports); Germany (11 percent); Italy (8 percent); Portugal and the UK (7 percent each); the US (5 percent); Morocco (3 percent); and China and Turkey (2 percent each).
Imports to Spain advanced 4.9 percent from a year earlier to EUR 28.80 billion in May 2019, boosted by higher purchases of energy products (17.5 percent); chemical products (10.3 percent); equipment goods (7.4 percent); manufactured consumption goods (7.7 percent); and non-chemicals semi-manufactures (3.1 percent). On the other hand, purchases declined for the automotive sector (-4.3 percent); food, beverages and tobacco (-2.7 percent); and raw materials (-18.9 percent). Among major trading partners, purchases increased from Germany (0.3 percent), Italy (2.9 percent), the US (42.4 percent) and China (15.6 percent), while fell from France (-8.6 percent), Portugal (-1.3 percent), and the UK (-1.3 percent). Imports in Spain averaged 8597547.14 EUR Thousand from 1962 until 2019, reaching an all time high of 30249900 EUR Thousand in October of 2018 and a record low of 37437.07 EUR Thousand in January of 1962.
Imports in Spain is expected to be 26600000.00 EUR Thousand by the end of this quarter. Looking forward, we estimate Imports in Spain to stand at 29900000.00 in 12 months time. In the long-term, the Spain Imports is projected to trend around 26400000.00 EUR Thousand in 2020.
Imports to Spain rose 10.5 percent from the previous year to an all-time high of EUR 302 billion, mainly driven by a surge in domestic demand and an increase in energy prices. Within the Autonomous Communities, the biggest importers were Catalonia (28 percent of total imports), Madrid (20 percent) Andalusia (10 percent) and Valencia (9 percent). Spain main imports were: capital goods (22 percent of total imports); chemicals (15 percent); energy products (13 percent); automotive sector (13 percent); consumer goods (12 percent); food, beverages and tobacco (12 percent); and non-chemical semi-manufactured products (7 percent). Main import partners were: Germany (13 percent of total imports); France (11 percent); China (9 percent); Italy (7 percent); the US (5 percent); the UK and Portugal (4 percent each); and Morocco and Turkey
Export from Spain went up 5.5 percent year-on-year to EUR 26.69 billion in May 2019, mainly driven by higher sales of energy products (14.7 percent); equipment goods (13.4 percent); manufactured consumption goods (13.2 percent); food, beverages and tobacco (3.6 percent); chemicals (3.6 percent); and non-chemicals semi-manufactures (3.4 percent). Meanwhile, sales fell for raw materials (-0.4 percent) and for the automotive sector (-0.4 percent). Among major trading partners, sales rose to the Euro Area (5.5 percent), of which Germany (11.4 percent), France (3.8 percent), Portugal (4.3 percent), and Italy (1.8 percent). Shipments also went up to the US (13.7 percent) and China (8.6 percent). Exports in Spain averaged 6794720.53 EUR Thousand from 1962 until 2019, reaching an all time high of 26413344.61 EUR Thousand in October of 2018 and a record low of 14286.06 EUR Thousand in July of 1963.
Exports in Spain is expected to be 25100000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Spain to stand at 28400000.00 in 12 months time. In the long-term, the Spain Exports is projected to trend around 24500000.00 EUR Thousand in 2020.
