Portugal (PRT) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Portugal-Spain In 2022, Portugal exported $20.5B to Spain. The main products that Portugal exported to Spain are 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.

Spain-Portugal In 2022, Spain exported $34.9B to Portugal. The main products that Spain exported 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 2020, Spain exported services to Portugal worth $350M, with Travel ($350M) being the largest in terms of value.

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

Latest Trends

January, 2024

About

Overview In January 2024, Portugal exported €1.74B and imported €2.79B from Spain, resulting in a negative trade balance of €1.05B. Between January 2023 and January 2024 the exports of Portugal have increased by €28.4M (1.66%) from €1.71B to €1.74B, while imports increased by €64.4M (2.37%) from €2.72B to €2.79B.

Trade In January 2024, the top exports of Portugal to Spain were Cars, tractors, trucks & parts thereof. (€213M), Mineral fuels, mineral oils and products... (€152M), Machinery, mechanical appliances, & parts (€112M), Plastics & articles thereof (€111M), and Electrical machinery and electronics (€82.6M). In January 2024 the top imports of Portugal from Spain were Cars, tractors, trucks & parts thereof. (€284M), Mineral fuels, mineral oils and products... (€236M), Electrical machinery and electronics (€184M), Machinery, mechanical appliances, & parts (€149M), and Plastics & articles thereof (€138M).

Growth In January 2024, the increase in Portugal's year-by-year exports to Spain was explained primarily by an increase in product exports in Machinery, mechanical appliances, & parts (€52.2M or 87.1%), Mineral fuels, mineral oils and products... (€12.1M or 8.65%), and Sugars & confectioneries (€11.5M or 179%). In January 2024, the increase in Portugal's year-by-year imports from Spain was explained primarily by an increase in product imports in Cars, tractors, trucks & parts thereof. (€94.5M or 49.8%), Electrical machinery and electronics (€38.6M or 26.6%), and Organic chemicals (€28.4M or 137%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)€28.4M(1.66%)

IMPORT GROWTH (January 2023 - January 2024)€64.4M(2.37%)

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

To check Spain and Portugal 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, 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.

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.

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

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

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Portugal
Top DestinationSpain$20.5B

Spain
Top DestinationFrance$65.2B

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

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

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

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

Comparative Advantage Portugal - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

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

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

Service Trade

Bilateral Service Trade

Esp Year

Prt Year

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.

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

Service trade data is presented based on availability.

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

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

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

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Latest Trends

About

Latest Trade

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Historical Data

Bilateral Trade by Products

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

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

Market Competitiveness

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

Comparative Advantage Portugal - Spain

Service Trade

Bilateral Service Trade

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

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

Economic Complexity

Competitive Landscape

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

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