The following export product groups represent the highest dollar value in Spanish global shipments during 2016. Also shown is the percentage share each export category represents in terms of overall exports from Spain.

1. Vehicles: US$55.3 billion (19.2% of total exports)
2. Machinery including computers: $22.2 billion (7.7%)
3. Electrical machinery, equipment: $16.1 billion (5.6%)
4. Mineral fuels including oil: $14.7 billion (5.1%)
5. Plastics, plastic articles: $11.1 billion (3.8%)
6. Pharmaceuticals: $11 billion (3.8%)
7. Fruits, nuts: $9.3 billion (3.2%)
8. Clothing, accessories (not knit or crochet): $7.6 billion (2.6%)
9. Articles of iron or steel: $6.8 billion (2.4%)
10. Vegetables: $6.7 billion (2.3%)

Non-knit and uncrocheted clothing were the fastest-growing among the top 10 export categories, up 103% for the 7-year period starting in 2009.

In second place for improving export sales were mineral fuels including oil which gained 44.9%. Exported plastics posted a 40% uptick.

The category posting the most modest gain was pharmaceuticals, up 7.1%.

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 is 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.

1. Vehicles: US$12.7 billion (Up by 16.7% since 2009)
2. Fruits, nuts: $6.4 billion (Up by 29.5%)
3. Vegetables: $5.4 billion (Up by 21.7%)
4. Meat: $4.5 billion (Up by 92.2%)
5. Ceramic products: $2.9 billion (Up by 33.6%)
6. Articles of iron or steel: $2.6 billion (Up by 208.1%)
7. Beverages, spirits, vinegar: $2.3 billion (Up by 48.6%)
8. Animal/vegetable fats, oils, waxes: $2.2 billion (Up by 59%)
9. Vegetable/fruit/nut preparations: $1.8 billion (Up by 16.8%)
10. Copper: $1.3 billion (Up by 86.8%)

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.

Below are exports from Spain that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Spain’s goods trail Spanish importer spending on foreign products.

Overall, Spain incurred a -$21.8 billion trade deficit during 2016. That represents a -66.2% reduction from the -$64.4 billion deficit in 2009.

1. Mineral fuels including oil: -US$18.1 billion (Down by -51.5% since 2009)
2. Machinery including computers: -$9.2 billion (Down by -9.6%)
3. Electrical machinery, equipment: -$9 billion (Down by -18.1%)
4. Optical, technical, medical apparatus: -$5.1 billion (Up by 10.8%)
5. Organic chemicals: -$4.8 billion (Up by 13.2%)
6. Pharmaceuticals: -$3.3 billion (Down by -39.8%)
7. Fish: -$3.2 billion (Up by 15.8%)
8. Knit or crochet clothing, accessories: -$2.7 billion (Down by -4.3%)
9. Cereals: -$2.6 billion (Up by 6.7%)
10. Ores, slag, ash: -$2 billion (Down by -14.8%)

Spain has highly negative net exports and therefore deep international trade deficits for crude oil, petroleum gases and coal.

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.

Spanish Export Companies

Twenty-seven corporations rank among Forbes Global 2000 for 2015. Below is a sample of the major Spanish companies that Forbes included:

• Telefónica (telecommunications services)
• Repsol YPF (oil, gas)
• Ferrovial (other transportation)
• Abertis (other transportation)
• Grifols (biotech products)

According to global trade intelligence firm Zepol, the following smaller companies are also examples of Spanish export companies:

• Nemak Spain (internal combustion engines, vehicle parts and accessories)
• Repsol (oil)
• Telefónica (telecommunications equipment)
• Mahou Sa (malt beer, wine, vodka)