Imports/Exports in Spain
Foreign trade has little impact on the country’s GDP growth. The Spanish trade deficit worsened in 2009 and 2010. Although imports fell by half in 2009, exports too lacked vigor. The energy bill reached EUR 41.8 million, which is almost 15% of the total imports. Nevertheless, its burden decreased because of the drop in Brent future price and the increase in the production of renewable energy. Apart from food products (e.g.: fruits and vegetables) whose balance remains in surplus, there is a negative balance for other items, which shows that Spain is loosing its competitiveness.
The main trade partners are the countries of the European Union, France being the first destination of Spanish exports (19.2% in 2009). France imports Spanish food products, cars, chemical and textile products. Spain also has good trade relations with the Maghreb countries.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||328,696||389,301||420,804||293,218||312,228|
|Exports of Goods (million USD)||213,717||253,297||281,493||227,338||244,527|
|Imports of Services (million USD)||77,860||95,688||104,036||86,679||85,500|
|Exports of Services (million USD)||105,501||126,747||141,750||121,517||120,846|
|Imports of Goods and Services (Annual % Change)||10.2||8.0||-5.3||-17.8||-|
|Exports of Goods and Services (Annual % Change)||5.1||5.3||-||-||-|
|Imports of Goods and Services (in % of GDP)||32.7||33.6||32.2||25.6||-|
|Exports of Goods and Services (in % of GDP)||26.3||26.9||26.5||23.4||-|
|Trade Balance (million USD)||-104,622||-125,238||-128,285||-62,833||-|
|Trade Balance (Including Service) (million USD)||-76,545||-93,733||-90,712||-||-|
|Foreign Trade (in % of GDP)||59.0||60.6||58.7||49.0||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|Other partnersClose extended list||45.9%|
(% of Imports)
|Other partnersClose extended list||55.8%|
Exchange Rate System
- Exchange Rate Regime
- Floating exchange regime.
- Level of Currency Instability
- Limited risk to change since Euro is a major currency.
|Euro (EUR) - Average Annual Exchange Rate For 1 USD||0.80||0.80||0.73||0.68||0.72|
Source: World Bank
Any Comments About This Content? Report It to Us.
This report provides guidance to U.S. companies interested in exporting high-value consumer-ready food products to Spain and includes an overview of the country's economic situation, market structure.
Foreign Agricultural Service on 18 Feb 2013 related to Imports/Exports in Spain
Spain is the EU’s second largest cotton growing Member State after Greece representing about 20 percent of the total EU-27cotton production.
Foreign Agricultural Service on 8 Apr 2013 related to Imports/Exports in Spain
Consultoría de Internacionalización
How2Go Consultoría de Internacionalización on 4 Jun 2014 related to Imports/Exports in Spain
Find the related Spanish companies with Kompass:
Export & Business Development, Spain
Internationalization Consulting, BrazilHow2Go specializes in bilateral internationalization of companies from Europe and America, formed by a team of...
Part of USDA, the United StatesThe Foreign Agricultural Service (FAS) of the U.S. Department of Agriculture (USDA) works to improve foreign market...