Spain is located on western Europe’s Iberian Peninsula and bordered by Portugal to its northwest, France and Andorra to its northeast and whose southern region features Europe’s only shared border with an African nation namely Morocco.
Reported as of September 5, 2019, Spain exported $171.2 billion worth of goods during the first 6 months of 2019 down -5.6% compared to the same period one year earlier.
From a continental perspective, well over two-thirds (69.4%) of Spanish exports by value in 2018 were delivered to fellow European countries while 10.6% were sold to Asian importers. Spain shipped another 6.5% worth of goods to North American clients with 6.3% going to Africa. Even smaller percentages went to Latin America (3.8%) excluding Mexico but including the Caribbean, or Oceania (less than 1%) led by Australia.
Given Spain’s population of 49.3 million people, its total $345.2 billion in 2018 exports translates to roughly $7,000 for every resident in the west European nation.
In macroeconomic terms, Spain’s total exported goods represent 18.5% of its overall Gross Domestic Product for 2018 ($1.864 trillion valued in Purchasing Power Parity US dollars). That 18.5% for exports to overall GDP in PPP for 2018 compares to 22.2% for 2014, seeming to indicate a relatively decreasing reliance on products sold on international markets for Spain’s total economic performance. And while this article focuses on exported goods, it is interesting to note that Spain also provided $149.2 billion worth of exports-related services to global customers for an additional 8% of GDP in PPP.
Another key indicator of a country’s economic performance is its unemployment rate. Spain’s unemployment rate was 14.7% at March 2019 down from 16.4% one year earlier, according to Trading Economics.
Spain’s Top 10 Exports
Top 10
The following export product groups represent the highest dollar value in Spanish global shipments during 2018. Also shown is the percentage share each export category represents in terms of overall exports from Spain.
- Vehicles: US$58.9 billion (17.1% of total exports)
- Mineral fuels including oil: $26.7 billion (7.7%)
- Machinery including computers: $25.3 billion (7.3%)
- Electrical machinery, equipment: $19.5 billion (5.7%)
- Plastics, plastic articles: $13.6 billion (3.9%)
- Pharmaceuticals: $12.3 billion (3.6%)
- Fruits, nuts: $10.4 billion (3%)
- Clothing, accessories (not knit or crochet): $9.1 billion (2.6%)
- Iron, steel: $8.7 billion (2.5%)
- Articles of iron or steel: $8.5 billion (2.5%)
Spain’s top 10 exports accounted for 55.9% of the overall value of its global shipments.
Mineral fuels including oil was the fastest-growing among the top 10 export categories thanks to its 51.5% from 2017 to 2018, led by higher international revenues from refined petroleum oils.
A distant second for Spain’s improving export sales was the iron and steel metals category which gained 22.8%. Electrical machinery and equipment garnered a 17% uptick, ahead of the 15.8% increase for Spain’s exported items made from iron or steel.
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Spain’s Most Valuable Export Products further down below.
At the more granular four-digit Harmonized Tariff System code level, Spain’s most valuable exports are cars (10.3% of total) trailed by refined petroleum oils (4.8%), automotive parts or accessories (3.4%), drugs and medicines (2.5%), trucks (1.9%), pork (1.2%), fresh or dried citrus fruit (1.1%) then olive oil (1%) and wine (also 1%).
Advantages
The following types of Spanish product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Vehicles: US$9.2 billion (Down by -20.4% since 2017)
- Fruits, nuts: $6.9 billion (Up by 10.4%)
- Vegetables: $5.9 billion (Up by 8.4%)
- Meat: $5.1 billion (Up by 5.6%)
- Articles of iron or steel: $3.4 billion (Up by 18.4%)
- Ceramic products: $3.2 billion (Up by 7.2%)
- Beverages, spirits, vinegar: $3.1 billion (Up by 19.9%)
- Aircraft, spacecraft: $2.4 billion (Up by 194%)
- Vegetable/fruit/nut preparations: $2.1 billion (Up by 9.1%)
- Animal/vegetable fats, oils, waxes: $2 billion (Down by -11.9%)
Spain has highly positive net exports particularly for cars and also trucks. In turn, these cashflows indicate Spain’s strong competitive advantages under the vehicles product category.
Opportunities
Spain incurred an overall -$42.9 billion trade deficit during 2018. That negative trade balance represents a 37% increase from the -$31.3 billion in red ink one year earlier.
Below are exports from Spain that result in negative net exports or product trade balance deficits during 2017. These negative net exports reveal product categories where foreign spending on home country Spain’s goods trail Spanish importer spending on foreign products.
- Mineral fuels including oil: -US$29.9 billion (Up by 7.4% since 2017)
- Machinery including computers: -$12.3 billion (Up by 30.7%)
- Electrical machinery, equipment: -$10.3 billion (Up by 12.6%)
- Organic chemicals: -$6.3 billion (Up by 21.8%)
- Optical, technical, medical apparatus: -$5.7 billion (Up by 14.2%)
- Pharmaceuticals: -$4.1 billion (Up by 56.6%)
- Fish: -$3.6 billion (Up by 5.3%)
- Cereals: -$3.3 billion (Up by 21.2%)
- Ores, slag, ash: -$3.2 billion (Up by 22.1%)
- Iron, steel: -$2.9 billion (Up by 20.2%)
Spain has highly negative net exports and therefore deep international trade deficits for crude oil, petroleum gases and coal under the mineral fuels including oil category.
These cashflow deficiencies clearly indicate Spain’s competitive disadvantages in the international market for mineral fuels-related products, but also represent key opportunities for Spain to improve its position in the global economy through focused innovations in cleaner alternative energy sources.
Companies
Spanish Export Companies
Twenty-seven corporations rank among Forbes Global 2000. Below is a sample of the major Spanish companies that Forbes included:
- Abertis (other transportation)
- Ferrovial (other transportation)
- Grifols (biotech products)
- Repsol YPF (oil, gas)
- Telefónica (telecommunications services)
According to global trade intelligence firm Zepol, the following smaller companies are also examples of Spanish export companies.
- Mahou Sa (malt beer, wine, vodka)
- Nemak Spain (internal combustion engines, vehicle parts and accessories)
- Repsol (oil)
- Telefónica (telecommunications equipment)
Spain’s capital city is Madrid.
Searchable List of Spain’s Most Valuable Export Products
At the more granular four-digit HTS code level, Spain’s top export products are cars, refined petroleum oils, auto parts or accessories, drugs and medicines followed by trucks then olive oil.
The following searchable table displays 200 of the most in-demand goods shipped from Spain during 2018. Shown beside each product label is its total export value then the percentage increase or decrease since 2017.
| Rank | Spain's Export Product | 2018 Value (US$) | Change |
|---|---|---|---|
| 1 | Cars | $35.6 billion | -0.6% |
| 2 | Processed petroleum oils | $16.4 billion | +29.1% |
| 3 | Automobile parts/accessories | $11.7 billion | +8.2% |
| 4 | Medication mixes in dosage | $8.5 billion | +10.5% |
| 5 | Trucks | $6.5 billion | +9% |
| 6 | Swine meat | $4 billion | -0.8% |
| 7 | Fresh or dried citrus fruit | $3.7 billion | +2.4% |
| 8 | Olive oil | $3.6 billion | -13.5% |
| 9 | Wine | $3.5 billion | +7.4% |
| 10 | Women's clothing (not knit or crochet) | $3.5 billion | +11.9% |
| 11 | Aircraft, spacecraft | $3.4 billion | -9.4% |
| 12 | Unglazed ceramic flags, tiles | $3.2 billion | +6.7% |
| 13 | Aircraft parts | $2.9 billion | +10.2% |
| 14 | Insulated wire/cable | $2.5 billion | +13% |
| 15 | Blood fractions (including antisera) | $2.5 billion | +0.3% |
| 16 | Rubber tires (new) | $2.5 billion | +17.4% |
| 17 | Polyacetal/ether/carbonates | $2.3 billion | +16.4% |
| 18 | Miscellaneous fresh/chilled vegetables | $2.2 billion | +8.2% |
| 19 | Copper ores, concentrates | $2.2 billion | +6% |
| 20 | Perfumes, toilet waters | $2.2 billion | +21.2% |
| 21 | Miscellaneous iron and steel structures | $2 billion | +12.4% |
| 22 | Miscellaneous fruits (fresh) | $1.9 billion | +9.9% |
| 23 | Footwear (leather) | $1.8 billion | +7.5% |
| 24 | Iron or non-alloy steel angles, shapes, sections | $1.7 billion | +14.2% |
| 25 | Lower-voltage switches, fuses | $1.7 billion | +4.5% |
| 26 | Coal tar oils (high temperature distillation) | $1.6 billion | +8.2% |
| 27 | Engines (diesel) | $1.6 billion | -12.5% |
| 28 | Jerseys, pullovers (knit or crochet) | $1.6 billion | +3.4% |
| 29 | Ethylene polymers | $1.6 billion | +4.7% |
| 30 | Miscellaneous furniture | $1.6 billion | +5.4% |
| 31 | Taps, valves, similar appliances | $1.5 billion | +10.5% |
| 32 | Biodiesel | $1.5 billion | +10.8% |
| 33 | T-shirts, vests (knit or crochet) | $1.4 billion | +2.8% |
| 34 | Electric generating sets, converters | $1.4 billion | -9.3% |
| 35 | Men's suits, trousers (not knit or crochet) | $1.4 billion | +5% |
| 36 | Plastic packing goods, lids, caps | $1.4 billion | +16.8% |
| 37 | Packaged insecticides/fungicides/herbicides | $1.3 billion | +1.9% |
| 38 | Gold (unwrought) | $1.3 billion | +2.1% |
| 39 | Apricots, cherries, peaches, nectarines, plums | $1.3 billion | +4.5% |
| 40 | Miscellaneous iron or steel items | $1.3 billion | +9.5% |
| 41 | Plastic plates, sheets, film, tape, strips | $1.2 billion | +10.7% |
| 42 | Transmission shafts, gears, clutches | $1.2 billion | +18.5% |
| 43 | Petroleum oil residues | $1.2 billion | +22.8% |
| 44 | Aluminum bars/rods | $1.2 billion | +17.4% |
| 45 | Bread, biscuits, cakes, pastries | $1.2 billion | +13.6% |
| 46 | Flat-rolled stainless steel items | $1.2 billion | +5.7% |
| 47 | Cases, handbags, wallets | $1.2 billion | +10.2% |
| 48 | Piston engines | $1.1 billion | +45.9% |
| 49 | Propylene/olefin polymers | $1.1 billion | +18.8% |
| 50 | Refined copper, unwrought alloys | $1.1 billion | +5.4% |
| 51 | Lifting/loading machinery | $1.1 billion | +7.7% |
| 52 | Pigments, enamels, glazes | $1.1 billion | +13.7% |
| 53 | Zinc (unwrought) | $1.1 billion | -1.2% |
| 54 | Beauty/makeup/skin care preparations | $1.1 billion | +17.1% |
| 55 | Other prepared/preserved vegetables (non-frozen) | $1.1 billion | +1.8% |
| 56 | Electrical lighting/signaling equpment, defrosters | $1.1 billion | +8% |
| 57 | Tomatoes (fresh/chilled) | $1.1 billion | -2.2% |
| 58 | Moluscs | $1.1 billion | +13.6% |
| 59 | Women's shirts (not knit or crochet) | $1.1 billion | +2.9% |
| 60 | Turbo-jets | $1.1 billion | -40.6% |
| 61 | Electrical converters/power units | $1.1 billion | +41.1% |
| 62 | Machinery parts | $1 billion | +2.3% |
| 63 | Other organic cleaning preparations | $1 billion | +6.9% |
| 64 | Electric storage batteries | $1 billion | +9.4% |
| 65 | Miscellaneous machinery | $995.8 million | +6.6% |
| 66 | Miscellaneous plastic items | $983.6 million | +2% |
| 67 | Fish, caviar (preserved/prepared) | $974.8 million | +15.6% |
| 68 | Piston engine parts | $967 million | +11.6% |
| 69 | Carbon electrodes, brushes | $955 million | +245.8% |
| 70 | Electric water heaters, hair dryers | $953.6 million | +9.7% |
| 71 | Tractors | $950.8 million | -24.9% |
| 72 | Phone system devices including smartphones | $940.7 million | +10.5% |
| 73 | Whole fish (frozen) | $934.2 million | +2.7% |
| 74 | Women's clothing (knit or crochet) | $933.5 million | +13.8% |
| 75 | Women's coats, jackets (not knit or crochet) | $931.6 million | +3.8% |
| 76 | Lamps, lighting, illuminated signs | $928 million | +3.7% |
| 77 | Copper wire | $919.2 million | -3% |
| 78 | Fruit and vegetable juices | $916.5 million | +11.2% |
| 79 | Iron or steel tubes, pipes | $909.4 million | +29.4% |
| 80 | Table games, bowling equipment | $898.9 million | +9.4% |
| 81 | Lettuce | $889.2 million | +9.6% |
| 82 | Liquid pumps and elevators | $882.6 million | +22.2% |
| 83 | Melons, watermelons, papayas | $866.5 million | +24.7% |
| 84 | Aluminum plates, sheets, strips | $852.6 million | +7.5% |
| 85 | Coiled iron or non-alloy steel bars, rods | $826.6 million | +41.2% |
| 86 | Miscellaneous animal feed preparations | $822.3 million | +6.3% |
| 87 | Dishwashing, clean/dry/fill machines | $821.7 million | +6.9% |
| 88 | Miscellaneous nuts | $802.9 million | +16.6% |
| 89 | Railway/tram coaches, vans, trucks | $785.7 million | +14.8% |
| 90 | Cellulose fiber paper | $784.4 million | +7.9% |
| 91 | Alcohol (including spirits, liqueurs) | $774.7 million | +19.3% |
| 92 | Electrical energy | $770.3 million | -22.5% |
| 93 | Crude oil | $761.7 million | +13.2% |
| 94 | Other food preparations | $755.9 million | +11.6% |
| 95 | Computers, optical readers | $745.1 million | -6.9% |
| 96 | Aluminum (unwrought) | $743.9 million | -4.5% |
| 97 | Centrifuges, filters and purifiers | $743.9 million | +10.7% |
| 98 | Concrete/artificial stone items | $737.9 million | +24.3% |
| 99 | Seats (excluding barber/dentist chairs) | $733.8 million | +18.3% |
| 100 | Plastic plates, sheets, film, tape, strips | $729.1 million | +15.2% |
| 101 | Petroleum gases | $718.4 million | +27.4% |
| 102 | Electric circuit parts, fuses, switches | $708.2 million | +15.4% |
| 103 | Cucumbers | $707.3 million | +10.2% |
| 104 | Plastic tubes, pipes, fittings | $695.8 million | +12.1% |
| 105 | Air conditioners | $695.4 million | +31.5% |
| 106 | Heterocyclics, nucleic acids | $692.5 million | -6.7% |
| 107 | Frozen vegetables | $690 million | +9.1% |
| 108 | Vulcanized rubber items | $682 million | +10.8% |
| 109 | Electro-medical equipment (e.g. xrays) | $674.5 million | +6% |
| 110 | Electrical/optical circuit boards, panels | $665.4 million | +22% |
| 111 | Interchangeable hand/machine tools | $660 million | -3.4% |
| 112 | Scents used for beverage or industrial manufacturing | $656.7 million | +11.1% |
| 113 | Electric ignition/start equipment | $653.5 million | +37.4% |
| 114 | Footwear (textile) | $650.1 million | +1.8% |
| 115 | Flat-rolled iron or non-alloy steel products (plated/coated) | $643.6 million | +28.3% |
| 116 | Fresh or chilled beef | $642.9 million | +13.5% |
| 117 | Chemical industry products/residuals | $637.4 million | +11.9% |
| 118 | Printed books, brochures | $635.4 million | +8.5% |
| 119 | Copper waste, scrap | $634.2 million | +17.8% |
| 120 | Air or vacuum pumps | $622 million | +9.1% |
| 121 | Iron and steel screws, bolts, nuts, washers | $618.3 million | +10.9% |
| 122 | Hair preparations | $612.2 million | +4.7% |
| 123 | Salted/dried/smoked meat | $610.2 million | +11.6% |
| 124 | Paper containers, cellulose wadding | $610 million | +13.1% |
| 125 | Printing machinery | $596.1 million | +23.9% |
| 126 | Miscellaneous engines, motors | $595.7 million | +0.1% |
| 127 | Electric motor parts | $594.4 million | +7.4% |
| 128 | Footwear (rubber or plastic) | $592.1 million | +6.2% |
| 129 | Whole fish (fresh) | $585.9 million | +11% |
| 130 | Sugar confectionery (no cocoa) | $585.5 million | +7.3% |
| 131 | Cheese, curd | $585.1 million | +14% |
| 132 | Chemical woodpulp (non-dissolving) | $565.5 million | +16.4% |
| 133 | Cabbages, cauliflowers, kale | $564 million | +4.3% |
| 134 | Temperature-change machines | $563.8 million | -23.4% |
| 135 | Medication mixes not in dosage | $561 million | -23.5% |
| 136 | Refrigerators, freezers | $550.7 million | +4.4% |
| 137 | Amino-resins | $546.1 million | -8.2% |
| 138 | Uncoated paper | $539.1 million | +15.6% |
| 139 | Iron or non-alloy steel bars, rods | $535.9 million | -1.5% |
| 140 | Miscellaneous preserved fruits | $532.9 million | -1.6% |
| 141 | Dates/figs/pineapples/mangoes/avocadoes/guavas | $522.5 million | +8.6% |
| 142 | Models, puzzles, miscellaneous toys | $522 million | +8% |
| 143 | Miscellaneous iron or steel tubes, pipes | $512 million | +4.2% |
| 144 | Miscellaneous aluminum items | $511.9 million | -2.1% |
| 145 | Fertilizer mixes | $510 million | +13.1% |
| 146 | Chocolate, other cocoa preparations | $508 million | +14.1% |
| 147 | Sports equipment | $507.8 million | +17.6% |
| 148 | Stoppers, caps, lids, crown corks | $505.6 million | 0% |
| 149 | Miscellaneous cast iron or steel items | $494.5 million | +34.9% |
| 150 | Sausages | $488.6 million | +5.6% |
| 151 | Fish fillets, pieces | $484.1 million | +13.5% |
| 152 | Men's shirts (not knit or crochet) | $481.3 million | +5.3% |
| 153 | Crustaceans (including lobsters) | $477 million | +4.8% |
| 154 | Onions, garlic, leeks | $476.2 million | -6% |
| 155 | Paint/varnish non-aqueous solution | $473 million | +15.4% |
| 156 | Men's coats, jackets (not knit or crochet) | $472.8 million | +11.6% |
| 157 | Automobile bodies | $470.1 million | +180.2% |
| 158 | Coffee/tea extracts, concentrates | $467.8 million | +17.6% |
| 159 | Other diagnostic/lab reagents | $467.4 million | +29.8% |
| 160 | Styrene polymers | $459.4 million | +2.4% |
| 161 | Personal toilet/shaving preparations, deodorants | $459.1 million | +14.9% |
| 162 | Base metal mountings, fittings | $457 million | +10.6% |
| 163 | Stainless steel bars, rods | $456.9 million | +36.1% |
| 164 | Jewelry | $455.9 million | +14.8% |
| 165 | Vegetable saps, extracts | $450.5 million | +22.1% |
| 166 | Coated paper | $448.3 million | +12.7% |
| 167 | Derricks, cranes | $447.4 million | +4% |
| 168 | Polycarboxylic acids | $443.7 million | +19.2% |
| 169 | Electric motors, generators | $443.2 million | +11.6% |
| 170 | Synthetic yarn woven fabrics | $442.9 million | +7.2% |
| 171 | Tomatoes (prepared/preserved) | $440.2 million | +10.6% |
| 172 | Hydraulic cements | $437.8 million | -0.9% |
| 173 | Railway/tram locomotives, rolling stock | $434.3 million | +10.9% |
| 174 | Regulate/control instruments | $434.1 million | -9.3% |
| 175 | Acyclic hydrocarbons | $429.2 million | +35% |
| 176 | Iron or steel pipe fittings | $427.3 million | +2.4% |
| 177 | Hot-rolled iron or non-alloy steel products | $423.7 million | +30% |
| 178 | Poultry meat | $422.7 million | +20.9% |
| 179 | Miscellaneous live plants | $404.7 million | +18.4% |
| 180 | Live bovine cattle | $402.2 million | +22.9% |
| 181 | Bombs, grenades, ammunition | $399.9 million | +19.3% |
| 182 | Public-transport vehicles | $398.1 million | +26% |
| 183 | Monument/building stones, art | $396.7 million | +2.9% |
| 184 | Grapes (fresh or dried) | $394.3 million | +21.9% |
| 185 | Prepared roasted cereal foods | $393.9 million | +9.5% |
| 186 | Polyamides | $391.6 million | +26.2% |
| 187 | Antibiotics | $390.3 million | +3.6% |
| 188 | Trailers | $390 million | +26.5% |
| 189 | Coated/laminated non-wovens | $389.8 million | +12.6% |
| 190 | Cyclic hydrocarbons | $388.6 million | -2.9% |
| 191 | Sort/screen/washing machinery | $387.7 million | +1.6% |
| 192 | Other measuring/testing machines | $386.7 million | +12.5% |
| 193 | Locks, lock-keys | $382.8 million | +17.5% |
| 194 | Red meat offal | $381.8 million | -5.6% |
| 195 | Iron and steel tanks, drums, boxes | $380.2 million | +11.6% |
| 196 | Alloy steel bars, rods | $376.5 million | +35.7% |
| 197 | Synthetic organic coloring | $375.6 million | +4.1% |
| 198 | Integrated circuits/microassemblies | $375.3 million | +22.3% |
| 199 | Orthopedic appliances | $374.4 million | +11% |
| 200 | Aluminum oxide/hydroxide | $371.4 million | +22.2% |
These 200 exported goods were worth a subtotal of US$260.2 billion or three-quarters (75.4%) by value for all products exported from Spain during 2018.
See also Spain’s Top 10 Imports and Spain’s Top Trading Partners
Research Sources:
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on September 5, 2019
IMPORTERS.com The Online Market for G20 Importers, Spain Import Export Directory. Accessed on September 5, 2019
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on September 5, 2019
International Trade Centre, Trade Map. Accessed on September 5, 2019
Investopedia, Net Exports Definition. Accessed on September 5, 2019
Wikipedia, Gross domestic product. Accessed on September 5, 2019
Wikipedia, List of Companies of Spain. Accessed on September 5, 2019
Wikipedia, Purchasing power parity. Accessed on September 5, 2019
Zepol’s company summary highlights by country. Accessed on September 5, 2019