International

Trade in
Spain
01
Basic facts about Spain
Population: Date of Spain's entry into the
47,450,795 people European Union: June 12, 1985

Location: Spain borders Andorra, France,

Capital: Madrid
Morocco, Portugal and Gibraltar by land and
Algeria and Italy by sea.

Political Division: 17 autonomous

Currency: Euro
communities and 2 independent cities.

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 Foreign trade values

2016 2017 2018 2019 2020

Imports and exports

Imports of goods 309.310 351.981 390.562 372.750 324.994 have been increasing
(million USD)
during the years, until
the pandemic
Exports of goods 287.415 319.531 346.754 334.018 307.015
(million USD) In these years,
imports of goods
have been higher
Imports of services
(millions USD)
70.960 75.465 81.826 85.324 60.252 than exports.

However, exports of
services have been
Exports of services
(millions USD)
127.132 138.326 155.355 156.666 89.641 higher than imports.

3
 Main export products
REFINED PACKAGED VEHICLE
AUTOMOBIL MEDICAMENTS PARTS
PETROLEUM
ES
$34.5B $12.5B $9.95B $10,6B

Passenger cars and In 2019, refined Medicaments The main destination of

other vehicles for the petroleum was the 2nd consisting of mixed Vehicle Parts exports
from Spain are Germany
transport of persons most exported product products, prepared for
($1.8B), France ($1.79B),
in Spain therapeutic or
Portugal ($1.23B), United
prophylactic purposes Kingdom ($683M), and
Morocco ($576M).

Source: The Observatory of Economic Complexity (OEC)

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 Main import products
CRUDE PETROLEUM BLOOD, VEHICLE
PETROLEUM GAS ANTISERA, PARTS
$27.8B $8.58B VACCINES,
$3.95B $13,2B
The 9th largest
Spain imports TOXINS
The fastest growing import
markets in Blood, antisera, Between November 2020
Petroleum Gas
importer of Crude and November 2021,
primarily from: Algeria vaccines, toxins for Spain
Petroleum in the between 2018 and 2019 imports increased by
($2.87B), United States
world. the 1st most were Belgium ($133M), €99.6M (9.37%) from
($1.26B), Nigeria ($1B),
imported product in Hungary ($44.2M), and €1.06B to €1.16B.
France ($966M), and
Germany ($41.2M)
Spain in 2019 Qatar ($893M).

Source: The Observatory of Economic Complexity (OEC)

5
Interesting data
• Foreign sales account for 27.04% of its GDP
○ Ranks 70th out of 191 countries in the ranking of exports relative
to GDP.

• The coverage rate (percentage of what is imported that

can be paid for with what is exported) was 94.46%.
○ Therefore, Spain has a very small deficit, since the coverage
rate is slightly below 100.

• Spain's main customers are: France, Germany and Italy

• Spain's main suppliers are: Germany, China and France

6
How does the war in
Ukraine affect Spain?
Inflation continues to rise and in
Spain has reached 6.5%, mainly due
to the increase in gas prices and
energy dependence.
Spain is one of the least affected
countries in Europe in terms of
energy shortage, since their main
suppliers are Morocco and Algeria,
but it does mean a large increase
in gas and electricity prices.
Ukraine is one of the world's
largest wheat exporters and
Spanish farmers are calling
on the European Union to
act.
Spain imports 27.6% of its
corn from Ukraine, as well as
60% of its foreign purchases
of sunflower oil and 31% of
its vegetable oil cakes.
7
 Conflict with Morocco and Algeria
Summary of the Western
Sahara conflict
Is an armed conflict between the
Polisario Front, together with the
support of Algeria, and Morocco, over
the lands of an old Spanish colony,
Western Sahara.
Morocco is proposing autonomy within
Morocco and the Polisario Front, along
with Algerian support, is fighting for
the decolonization and independence
of the territory. The reason Spain is
involved in this struggle is because
Western Sahara was Spanish land, and it
acts as an intermediary.
More info Why is Spain taking this
Spain had been supporting the Algerian movement and decision now?
the Polisario Front for 47 years but, the last March 19,
Spain's decision is taken in order to get
it changed its decision and recognized that Morocco´s
Morocco to lower the price of gas to
movement was the best option.
Spain and to improve the relationship
Morocco and Algeria are Spain's main gas suppliers,
between countries and with the border, as
and all this is important to explain the following:
there is a lot of illegal immigration.
However, Algeria did not like this and
removed its ambassador from Madrid. All
this may lead to a future bad relationship
between the two countries and critically
affect the gas supply in Spain.
This whole situation is intensified by the
rise in gas prices due to the war between
Russia and Ukraine.
Polisario Front, Saharawi national liberation movement fighting to end the
Moroccan occupation.
8
Tourism in Spain
Spain's No. 1 exporting sector

Spain has moved from eighth place in

2019 to fifth place in 2021.

The number of international tourists arriving in Spain

through January 2022 was 2.49 million.
By nationality, the United Kingdom tends to be the main
issuer of tourists to Spain. In January 2022, the number
of British tourists visiting Spain was 363,150, while
282,280 German visitors and 347,955 French tourists
arrived.
Spending by foreign tourists visiting Spain in the first
nine months of 2021 soared 23.6% compared to the
same period in 2020, reaching 21,939 million euros.

In conclusion, tourism is one of the main economic

engines of the country.

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• Questions?
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