Canada (CAN) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Canada (CAN) and Spain (ESP) Trade

2022

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Exports $2.47BRnk 18 / 215

2022

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About

Canada-Spain In 2022, Canada exported $2.47B to Spain. The main products that Canada exported to Spain are Crude Petroleum ($943M), Iron Ore ($305M), and Packaged Medicaments ($188M). During the last 27 years the exports of Canada to Spain have increased at an annualized rate of 5.78%, from $543M in 1995 to $2.47B in 2022.

In 2020, Canada exported services to Spain worth $145M, with Travel ($46.2M), Computer and information services ($37.3M), and Transportation ($29.8M) being the largest in terms of value.

Spain-Canada In 2022, Spain exported $2.75B to Canada. The main products that Spain exported to Canada were Spark-Ignition Engines ($247M), Packaged Medicaments ($239M), and Petroleum Jelly ($145M). During the last 27 years the exports of Spain to Canada have increased at an annualized rate of 6.42%, from $512M in 1995 to $2.75B in 2022.

In 2018, Spain exported services to Canada worth $0, with being the largest in terms of value.

Comparison In 2022, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Latest Trends

February, 2024

About

Overview In February 2024, Canada exported C$106M and imported C$290M from Spain, resulting in a negative trade balance of C$185M. Between February 2023 and February 2024 the exports of Canada have decreased by C$-136M (-56.4%) from C$242M to C$106M, while imports decreased by C$-245M (-45.8%) from C$536M to C$290M.

Trade In February 2024, the top exports of Canada to Spain were Crude Petroleum (C$74.3M), Iron Ore (C$13.9M), Packaged Medicaments (C$6.14M), Dried Legumes (C$5.65M), and Raw Nickel (C$4.7M). In February 2024 the top imports of Canada from Spain were Packaged Medicaments (C$24.4M), Petroleum Coke (C$17.2M), Petroleum Jelly (C$17.2M), Citrus (C$12.4M), and Wine (C$10.8M).

Origins In February 2024 the exports of Canada were mainly from Quebec (C$69.9M), Ontario (C$15.2M), Manitoba (C$5.04M), Alberta (C$4.07M), and Saskatchewan (C$4.03M), while imports destinations were mainly Ontario (C$152M), Quebec (C$104M), British Columbia (C$13.8M), Alberta (C$8.83M), and Nova Scotia (C$6.67M).

Growth In February 2024, the decrease in Canada's year-by-year exports to Spain was explained primarily by an decrease in product exports in Reaction and Catalytic Products (C$-6.71M or -98.4%), Iron Ore (C$-5.2M or -27.1%), and Gas Turbines (C$-2.04M or -89.7%). In February 2024, the decrease in Canada's year-by-year imports from Spain was explained primarily by an decrease in product imports in Spark-Ignition Engines (C$-20.4M or -83.6%), Packaged Medicaments (C$-7.83M or -24.3%), and Other Steel Bars (C$-4.3M or -66.3%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)C$-136M(-56.4%)

IMPORT GROWTH (February 2023 - February 2024)C$-245M(-45.8%)

MAIN EXPORTER (February 2024)QuebecC$69.9M

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Canada exported $2.47B to Spain. The main products exported from Canada to Spain were Crude Petroleum ($943M), Iron Ore ($305M), and Packaged Medicaments ($188M). During the last 27 years the exports of Canada to Spain have increased at an annualized rate of 5.78%, from $543M in 1995 to $2.47B in 2022.

In 2022, Spain exported $2.75B to Canada. The main products exported from Spain to Canada were Spark-Ignition Engines ($247M), Packaged Medicaments ($239M), and Petroleum Jelly ($145M). During the last 27 years the exports of Spain to Canada have increased at an annualized rate of 6.42%, from $512M in 1995 to $2.75B in 2022.

Exports from Canada () to Spain () (2022)

Exports from Spain () to Canada () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Canada
Top DestinationUnited States$438B

Spain
Top DestinationFrance$65.2B

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

In 2021, countries that imported more from Canada than Spain were United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2021, countries that imported more from Spain than Canada were France ($65.2B), Portugal ($34.9B), and Germany ($39.2B).

Difference in imports from Spain () and Canada () (2022)

Comparative Advantage Canada - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Canada had a large net trade with Spain in the exports of Mineral Products ($1.31B), Vegetable Products ($321M), and Chemical Products ($269M).

During 2022, Spain had a large net trade with Canada in the exports of Machines ($549M), Chemical Products ($411M), and Mineral Products ($399M).

Service Trade

Bilateral Service Trade

Esp Year

Can Year

In 2020, Canada exported services to Spain worth $145M, with Travel ($46.2M), Computer and information services ($37.3M), and Transportation ($29.8M) being the largest in terms of value.

In 2018, Spain exported services to Canada worth $0, with being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada () to Spain () (2020)

Services Exports from Spain () to Canada () (2018)

Economic Complexity

Competitive Landscape

Year

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 Canada has comparative advantage over Spain. Similarly, the more yellow a dot/product is, the more Spain has comparative advantage over Canada.

Product Space of Canada () and Spain () (2022)

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