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Pricing

2022
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Exports $34.9BRnk 3 / 218
2022
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Top Product $2.63BElectricity
2022
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Exports $20.5BRnk 1 / 208
2022
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Top Product $1.35BMotor vehicles; parts and accessories (8701 to 8705)
2022
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Economic Complexity (ECI) ECI 0.8Rnk 33 / 124
2022
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Economic Complexity (ECI) ECI 0.58Rnk 40 / 124
2022
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GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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 GDP$252BCURRENT US$
Rnk 49 / 186
2012-2022
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GDP GROWTH16.5%CURRENT US$
Rnk 132 / 186
2022
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GDP PC $29,350CURRENT US$
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2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186
2022
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GDP PC$24,275CURRENT US$
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2012-2022
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GDP PC GROWTH18%CURRENT US$
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About

Spain-Portugal In 2022, Spain exported $34.9B to Portugal. The main products that Spain exported to Portugal are Electricity ($2.63B), Refined Petroleum ($1.62B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.19B). During the last 27 years the exports of Spain to Portugal have increased at an annualized rate of 5.87%, from $7.47B in 1995 to $34.9B in 2022.

In 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

Portugal-Spain In 2022, Portugal exported $20.5B to Spain. The main products that Portugal exported to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.35B), Electricity ($752M), and Refined Petroleum ($641M). During the last 27 years the exports of Portugal to Spain have increased at an annualized rate of 6.66%, from $3.6B in 1995 to $20.5B in 2022.

In 2020, Portugal exported services to Spain worth $3.15B, with Travel ($1.15B), Transportation ($1.11B), and Other business services ($690M) being the largest in terms of value.

Comparison In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.8), and 20 in total exports ($394B). That same year, Portugal ranked 40 in the Economic Complexity Index (ECI 0.58), and 48 in total exports ($81.7B).

Latest Trends

January, 2024

About

Overview In January 2024, Spain exported €2.55B and imported €1.4B from Portugal, resulting in a positive trade balance of €1.15B. Between January 2023 and January 2024 the exports of Spain have decreased by €-7.1M (-0.28%) from €2.56B to €2.55B, while imports increased by €63.5M (4.77%) from €1.33B to €1.4B.

Trade In January 2024, the top exports of Spain to Portugal were Refined Petroleum (€124M), Cars (€96.5M), Electricity (€92.7M), Motor vehicles; parts and accessories (8701... (€76.6M), and Pure Olive Oil (€43.3M). In January 2024 the top imports of Spain from Portugal were Electricity (€108M), Motor vehicles; parts and accessories (8701... (€93.7M), Centrifuges (€46.8M), Glass Bottles (€26.6M), and Delivery Trucks (€26.2M).

Origins In January 2024 the exports of Spain were mainly from Madrid (€402M), Barcelona (€386M), Pontevedra (€174M), A Coruña (€142M), and Guadalajara (€104M), while imports destinations were mainly Madrid (€208M), Barcelona (€144M), Zaragoza (€104M), A Coruña (€91.8M), and Pontevedra (€88M).

Growth In January 2024, the decrease in Spain's year-by-year exports to Portugal was explained primarily by an decrease in product exports in Electricity (€-141M or -60.4%), Telephones (€-11.9M or -48.1%), and Gas Turbines (€-11.8M or -99.9%). In January 2024, the increase in Spain's year-by-year imports  from Portugal was explained primarily by an increase in product imports  in Electricity (€30.1M or 38.6%), Motor vehicles; parts and accessories (8701... (€28.4M or 43.4%), and Centrifuges (€20.4M or 77.2%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (January 2023 - January 2024)€-7.1M(-0.28%)
IMPORT GROWTH (January 2023 - January 2024)€63.5M(4.77%)
MAIN EXPORTER (January 2024)Madrid€402M

This section shows exports and imports data at subnational level for Spain. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Spain over time.

To check Portugal and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $34.9B to Portugal. The main products exported from Spain to Portugal were Electricity ($2.63B), Refined Petroleum ($1.62B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.19B). During the last 27 years the exports of Spain to Portugal have increased at an annualized rate of 5.87%, from $7.47B in 1995 to $34.9B in 2022.

In 2022, Portugal exported $20.5B to Spain. The main products exported from Portugal to Spain were Motor vehicles; parts and accessories (8701 to 8705) ($1.35B), Electricity ($752M), and Refined Petroleum ($641M). During the last 27 years the exports of Portugal to Spain have increased at an annualized rate of 6.66%, from $3.6B in 1995 to $20.5B in 2022.

Exports from Spain (Flag) to Portugal (Flag) (2022)

Exports from Portugal (Flag) to Spain (Flag) (2022)

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Portugal
Top DestinationSpain$20.5B

This map shows whether countries import more from Spain or Portugal. Each country is colored based on the difference in imports they receive from Spain and Portugal or the difference in the growth in imports.

In 2021, countries that imported more from Spain than Portugal were France ($65.2B), Germany ($39.2B), and Italy ($32.1B).

In 2021, countries that imported more from Portugal than Spain were Angola ($1.59B), Cape Verde ($407M), and Mozambique ($262M).

Difference in imports from Portugal (Flag) and Spain (Flag) (2022)

Comparative Advantage Spain - Portugal

Flow
Scale

This chart compares trade between Spain and Portugal by product, considering products traded by both, Spain and Portugal.

During 2022, Spain had a large net trade with Portugal in the exports of Mineral Products ($5B), Machines ($4.2B), and Metals ($4.2B).

During 2022, Portugal had a large net trade with Spain in the exports of Metals ($2.39B), Machines ($2.34B), and Transportation ($2.2B).

Service Trade

Bilateral Service Trade

In 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

In 2020, Portugal exported services to Spain worth $3.15B, with Travel ($1.15B), Transportation ($1.11B), and Other business services ($690M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to Portugal (Flag) (2020)

Services Exports from Portugal (Flag) to Spain (Flag) (2020)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Spain has comparative advantage over Portugal. Similarly, the more yellow a dot/product is, the more Portugal has comparative advantage over Spain.

Product Space of Spain (Flag) and Portugal (Flag) (2022)

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