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As of June 2018, Spain’s exported goods were valued at $179.5 billion up 13.6% compared to the first 6 months of 2017.
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.
Based on estimates from the Central Intelligence Agency’s World Factbook, Spain’s exported goods plus services represent 34.2% of total Spanish economic output or Gross Domestic Product. The analysis below focuses on exported products only.
From a continental perspective, well over two-thirds (69.4%) of Spanish exports by value were delivered to fellow European countries while 11.1% were sold to Asian importers. Spain shipped another 6.6% worth of goods to North American clients with 6.2% going to Africa and 3.9% sent to Latin America (excluding Mexico) and the Caribbean.
Given Spain’s population of 49 million people, its total $320.1 billion in 2017 exports translates to roughly $6,500 for every resident in that country.
Spain’s unemployment rate was 16.55% as of December 2017 down from 18.6% in January of the same year, 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 2017. Also shown is the percentage share each export category represents in terms of overall exports from Spain.
At the more granular four-digit Harmonized Tariff System code level, Spain’s most valuable exports are cars followed by refined petroleum oils, automotive parts or accessories, drugs and medicines, trucks then olive oil.
- Vehicles: US$57 billion (17.8% of total exports)
- Machinery including computers: $24.4 billion (7.6%)
- Mineral fuels including oil: $22.3 billion (7%)
- Electrical machinery, equipment: $17.1 billion (5.3%)
- Plastics, plastic articles: $12.4 billion (3.9%)
- Pharmaceuticals: $11.6 billion (3.6%)
- Fruits, nuts: $9.6 billion (3%)
- Clothing, accessories (not knit or crochet): $8.6 billion (2.7%)
- Articles of iron or steel: $7.5 billion (2.3%)
- Iron, steel: $7.3 billion (2.3%)
Spain’s top 10 exports accounted for 55.5% of the overall value of its global shipments.
Mineral fuels including oil was the fastest-growing among the top 10 export categories up 102.3% from 2016 to 2017, led by higher international revenues from refined petroleum oils.
A distant second for Spain’s improving export sales was the iron and steel category which gained 18.9%. Unknit and non-crocheted clothing and accessories posted a 15% uptick, just ahead of the 14.9% increase for plastics and items made from plastic.
The category posting Spain’s most modest gain was vehicles, up 5.7%.
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.
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 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.
- Vehicles: US$11.1 billion (Down by -14.8% since 2016)
- Fruits, nuts: $6.6 billion (Up by 8%)
- Vegetables: $5.5 billion (Up by 5.6%)
- Meat: $4.9 billion (Up by 12.2%)
- Ceramic products: $3 billion (Up by 6.8%)
- Articles of iron or steel: $2.9 billion (Up by 10.6%)
- Beverages, spirits, vinegar: $2.6 billion (Up by 18.4%)
- Animal/vegetable fats, oils, waxes: $2.3 billion (Up by 9.1%)
- Vegetable/fruit/nut preparations: $2 billion (Up by 11.3%)
- Copper: $1.5 billion (Up by 11.3%)
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 -$30.3 billion trade deficit during 2017. That negative trade balance represents a 45.7% increase from the -$20.8 billion in red ink that Spain sustained one year earlier.
As of June 2018, Spain’s trade deficit stood at -$19.4 billion up 52.9% compared to the first 6 months of 2017.
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$23.4 billion (Up by 7.9% since 2016)
- Machinery including computers: -$10.2 billion (Up by 17.6%)
- Electrical machinery, equipment: -$9.5 billion (Up by 7.3%)
- Organic chemicals: -$5.4 billion (Up by 16%)
- Optical, technical, medical apparatus: -$5.2 billion (Up by 5.9%)
- Fish: -$3.4 billion (Up by 7.9%)
- Pharmaceuticals: -$2.8 billion (Down by -8.9%)
- Cereals: -$2.8 billion (Up by 11.5%)
- Iron, steel: -$2.6 billion (Up by 117.2%)
- Ores, slag, ash: -$2.6 billion (Up by 26.3%)
Spain has highly negative net exports and therefore deep international trade deficits for crude oil, petroleum gases and coal under the mineral fuels including oil category.
These cashflow deficiencies clearly indicate Spain’s competitive disadvantages in the international market for mineral fuels-related products, but also represent key opportunities for Spain to improve its position in the global economy through focused innovations in cleaner alternative energy sources.
Companies
Spanish Export Companies
Twenty-seven corporations rank among Forbes Global 2000. Below is a sample of the major Spanish companies that Forbes included:
- Abertis (other transportation)
- Ferrovial (other transportation)
- Grifols (biotech products)
- Repsol YPF (oil, gas)
- Telefónica (telecommunications services)
According to global trade intelligence firm Zepol, the following smaller companies are also examples of Spanish export companies:
- Mahou Sa (malt beer, wine, vodka)
- Nemak Spain (internal combustion engines, vehicle parts and accessories)
- Repsol (oil)
- Telefónica (telecommunications equipment)
Spain’s capital city is Madrid.
Searchable List of Spain’s Most Valuable Export Products
At the more granular four-digit HTS code level, Spain’s top export products are cars, refined petroleum oils, auto parts or accessories, drugs and medicines followed by trucks then olive oil.
The following searchable table displays 200 of the most in-demand goods shipped from Spain during 2017. Shown beside each product label is its total export value then the percentage increase or decrease since 2016.
| Rank | Spanish Export Product | 2017 Value (US$) | Change |
|---|---|---|---|
| 1 | Cars | $35.8 billion | +0.6% |
| 2 | Processed petroleum oils | $12.7 billion | +52.7% |
| 3 | Automobile parts/accessories | $10.8 billion | +8.7% |
| 4 | Medication mixes in dosage | $7.7 billion | +2.3% |
| 5 | Trucks | $6 billion | +2.4% |
| 6 | Olive oil | $4.14 billion | +18.2% |
| 7 | Swine meat | $4.07 billion | +14.6% |
| 8 | Aircraft, spacecraft | $3.8 billion | +136.1% |
| 9 | Fresh or dried citrus fruit | $3.6 billion | +3.1% |
| 10 | Wine | $3.3 billion | +9.8% |
| 11 | Women's clothing (not knit or crochet) | $3.1 billion | +18.2% |
| 12 | Unglazed ceramic flags, paving, wall tiles | $3 billion | +1,305% |
| 13 | Aircraft parts | $2.7 billion | -21.7% |
| 14 | Blood fractions (including antisera) | $2.5 billion | +8.8% |
| 15 | Insulated wire/cable | $2.2 billion | +13.8% |
| 16 | Rubber tires (new) | $2.1 billion | +4% |
| 17 | Copper ores, concentrates | $2.1 billion | +76.6% |
| 18 | Miscellaneous fresh/chilled vegetables | $2.1 billion | +9.2% |
| 19 | Polyacetal/ether/carbonates | $1.9 billion | +20.9% |
| 20 | Engines (diesel) | $1.9 billion | -0.04% |
| 21 | Miscellaneous iron and steel structures | $1.8 billion | +6.2% |
| 22 | Turbo-jets | $1.8 billion | +69.6% |
| 23 | Perfumes, toilet waters | $1.8 billion | +12.9% |
| 24 | Miscellaneous fruits (fresh) | $1.8 billion | +8.3% |
| 25 | Footwear (leather) | $1.7 billion | -2.5% |
| 26 | Lower-voltage switches, fuses | $1.6 billion | +8.9% |
| 27 | Electric generating sets, converters | $1.6 billion | +4.5% |
| 28 | Jerseys, pullovers (knit or crochet) | $1.6 billion | +14.1% |
| 29 | Ethylene polymers | $1.5 billion | +3.4% |
| 30 | Coal tar oils (high temperature distillation) | $1.5 billion | +72.4% |
| 31 | Miscellaneous furniture | $1.5 billion | +4.2% |
| 32 | Iron or non-alloy steel angles, shapes, sections | $1.5 billion | +21.6% |
| 33 | T-shirts, vests (knit or crochet) | $1.4 billion | +11.3% |
| 34 | Taps, valves, similar appliances | $1.4 billion | +3.6% |
| 35 | Men's suits, trousers (not knit or crochet) | $1.3 billion | +9% |
| 36 | Biodiesel | $1.3 billion | +21.9% |
| 37 | Packaged insecticides/fungicides/herbicides | $1.3 billion | +16.4% |
| 38 | Tractors | $1.3 billion | +5.4% |
| 39 | Gold (unwrought) | $1.3 billion | -6.5% |
| 40 | Apricots, cherries, peaches, nectarines, plums | $1.2 billion | +0.2% |
| 41 | Plastic packing goods, lids, caps | $1.2 billion | +8.1% |
| 42 | Miscellaneous iron or steel items | $1.2 billion | +6.1% |
| 43 | Zinc (unwrought) | $1.1 billion | +61.2% |
| 44 | Tomatoes (fresh/chilled) | $1.1 billion | +6.5% |
| 45 | Plastic plates, sheets, film, tape, strips | $1.1 billion | +8% |
| 46 | Flat-rolled stainless steel items | $1.1 billion | +21.6% |
| 47 | Other prepared/preserved vegetables (non-frozen) | $1.1 billion | -1.5% |
| 48 | Refined copper, unwrought alloys | $1.1 billion | +1.6% |
| 49 | Cases, handbags, wallets | $1.1 billion | +10.9% |
| 50 | Lifting/loading machinery | $1 billion | +8% |
| 51 | Women's shirts (not knit or crochet) | $1 billion | +9% |
| 52 | Bread, biscuits, cakes, pastries | $1 billion | +9.3% |
| 53 | Electrical lighting/signaling equpment, defrosters | $1 billion | -4.1% |
| 54 | Machinery parts | $1 billion | +18.4% |
| 55 | Transmission shafts, gears, clutches | $1 billion | +22.4% |
| 56 | Aluminum bars/rods | $1 billion | +18.2% |
| 57 | Electrical energy | $994.1 million | +229.2% |
| 58 | Pigments, enamels, glazes | $988 million | +8.3% |
| 59 | Petroleum oil residues | $966.8 million | +61.1% |
| 60 | Miscellaneous plastic items | $964.6 million | +16.5% |
| 61 | Beauty/makeup/skin care preparations | $954.4 million | +22.7% |
| 62 | Propylene/olefin polymers | $954 million | +10.8% |
| 63 | Other organic cleaning preparations | $951.9 million | +11.7% |
| 64 | Copper wire | $947.4 million | +38.9% |
| 65 | Molluscs | $947.3 million | +20.6% |
| 66 | Miscellaneous machinery | $934.6 million | +11.9% |
| 67 | Electric storage batteries | $923.1 million | +26.7% |
| 68 | Whole fish (frozen) | $909.5 million | +15% |
| 69 | Women's coats, jackets (not knit or crochet) | $897.8 million | +8.8% |
| 70 | Lamps, lighting, illuminated signs | $894.5 million | +6.5% |
| 71 | Electric water heaters, hair dryers | $868.9 million | +10.8% |
| 72 | Piston engine parts | $866.8 million | +2.2% |
| 73 | Phone system devices | $851.7 million | +3.9% |
| 74 | Fish, caviar (preserved/prepared) | $843 million | +19.2% |
| 75 | Fruit and vegetable juices | $824 million | +23.4% |
| 76 | Table games, bowling equipment | $821.3 million | +138.4% |
| 77 | Women's clothing (knit or crochet) | $820.3 million | +5.5% |
| 78 | Lettuce | $811.6 million | +2.6% |
| 79 | Computers, optical readers | $799.9 million | +41.4% |
| 80 | Aluminum plates, sheets, strips | $792.8 million | +32.5% |
| 81 | Piston engines | $780.1 million | -26.8% |
| 82 | Aluminum (unwrought) | $779 million | +25.3% |
| 83 | Miscellaneous animal feed preparations | $773.6 million | +12.7% |
| 84 | Dishwashing, clean/dry/fill machines | $769 million | +11% |
| 85 | Electrical converters/power units | $748.3 million | -4.7% |
| 86 | Heterocyclics, nucleic acids | $741.9 million | -4.1% |
| 87 | Temperature-change machines | $736.2 million | +22.9% |
| 88 | Medication mixes not in dosage | $732.9 million | +27.1% |
| 89 | Cellulose fiber paper | $726.9 million | +4.2% |
| 90 | Liquid pumps and elevators | $722.2 million | -4.4% |
| 91 | Iron or steel tubes, pipes | $702.7 million | +12.6% |
| 92 | Melons, watermelons, papayas | $694.8 million | -2.2% |
| 93 | Miscellaneous nuts | $688.4 million | -8% |
| 94 | Self-propelled streetcar/railway coaches | $684.4 million | +42.8% |
| 95 | Interchangeable hand/machine tools | $683.6 million | +58% |
| 96 | Other food preparations | $677.1 million | +3.7% |
| 97 | Crude oil | $673 million | +108% |
| 98 | Centrifuges, filters and purifiers | $672.3 million | +14.9% |
| 99 | Alcohol (including spirits, liqueurs) | $649.4 million | -0.6% |
| 100 | Cucumbers | $641.9 million | +5.5% |
| 101 | Footwear (textile) | $638.6 million | +14.6% |
| 102 | Electro-medical equip (e.g. xrays) | $636.1 million | +8.2% |
| 103 | Plastic plates, sheets, film, tape, strips | $632.8 million | +10.4% |
| 104 | Frozen vegetables | $632.2 million | +11.7% |
| 105 | Plastic tubes, pipes, fittings | $620.7 million | +8.1% |
| 106 | Seats (excluding barber/dentist chairs) | $620.5 million | +3.4% |
| 107 | Vulcanized rubber items | $615.3 million | +5.9% |
| 108 | Electric circuit parts, fuses, switches | $613.9 million | +1.2% |
| 109 | Miscellaneous engines, motors | $595.1 million | +9.4% |
| 110 | Amino-resins | $594.6 million | +27.5% |
| 111 | Concrete/artificial stone items | $593.7 million | +23.8% |
| 112 | Scents used for beverage or industrial manufacturing | $591.2 million | +8% |
| 113 | Printed books, brochures | $585.4 million | +9.8% |
| 114 | Coiled iron or non-alloy steel bars, rods | $585.2 million | +15.8% |
| 115 | Hair preparations | $584.4 million | +9.9% |
| 116 | Air or vacuum pumps | $569.9 million | +12.3% |
| 117 | Chemical industry products/residuals | $569.5 million | +4.3% |
| 118 | Fresh or chilled beef | $566.5 million | +3.7% |
| 119 | Petroleum gases | $563.7 million | +64.4% |
| 120 | Footwear (rubber or plastic) | $557.3 million | +10.1% |
| 121 | Iron and steel screws, bolts, nuts, washers | $557.3 million | +6% |
| 122 | Electric motor parts | $553.6 million | -19.8% |
| 123 | Salted/dried/smoked meat | $546.7 million | +8.4% |
| 124 | Sugar confectionery (no cocoa) | $545.7 million | +6.2% |
| 125 | Electrical/optical circuit boards, panels | $545.3 million | +10.2% |
| 126 | Iron or non-alloy steel bars, rods | $544.3 million | -14.5% |
| 127 | Miscellaneous preserved fruits | $541.4 million | +11.1% |
| 128 | Cabbages, cauliflowers, kale | $540.8 million | +6.9% |
| 129 | Paper containers, cellulose wadding | $539.3 million | +8.2% |
| 130 | Copper waste, scrap | $538.6 million | +55.3% |
| 131 | Air conditioners | $528.7 million | +10.5% |
| 132 | Whole fish (fresh) | $528.1 million | +1% |
| 133 | Refrigerators, freezers | $527.7 million | +1.6% |
| 134 | Miscellaneous aluminum items | $523.1 million | +3.8% |
| 135 | Cheese, curd | $513.1 million | +13.2% |
| 136 | Onions, garlic, leeks | $506.7 million | -15.3% |
| 137 | Stoppers, caps, lids, corks | $505.6 million | +16.2% |
| 138 | Flat-rolled iron or non-alloy steel products (plated/coated) | $501.5 million | -0.7% |
| 139 | Miscellaneous iron or steel tubes, pipes | $491.3 million | +31% |
| 140 | Chemical woodpulp (non-dissolving) | $485.7 million | +18.1% |
| 141 | Models, puzzles, miscellaneous toys | $483.5 million | +7.8% |
| 142 | Dates/figs/pineapples/mangoes/avocadoes/guavas | $481.3 million | +24.5% |
| 143 | Printing machinery | $481.1 million | +4.8% |
| 144 | Regulate/control instruments | $478.7 million | +4.9% |
| 145 | Electric ignition/start equipment | $475.6 million | -0.4% |
| 146 | Uncoated paper | $466.5 million | +7.4% |
| 147 | Sausages | $462.7 million | +12.8% |
| 148 | Men's shirts (not knit or crochet) | $456.9 million | +4.4% |
| 149 | Crustaceans (including lobsters) | $455 million | +12.7% |
| 150 | Fertilizer mixes | $450.7 million | +14.5% |
| 151 | Styrene polymers | $448.5 million | +23.3% |
| 152 | Chocolate, other cocoa preparations | $445.3 million | +2.2% |
| 153 | Hydraulic cements | $441.9 million | -7.4% |
| 154 | Sports equipment | $431.8 million | +15.9% |
| 155 | Derricks, cranes | $430 million | +7% |
| 156 | Fish fillets, pieces | $426.6 million | +8.9% |
| 157 | Men's coats, jackets (not knit or crochet) | $423.7 million | +19.3% |
| 158 | Iron or steel pipe fittings | $417.3 million | +13.7% |
| 159 | Synthetic yarn woven fabrics | $413.2 million | +22.4% |
| 160 | Base metal mountings, fittings | $413 million | +8.7% |
| 161 | Paint/varnish non-aqueous solution | $409.8 million | +9.2% |
| 162 | Red meat offal | $404.2 million | -4.3% |
| 163 | Cyclic hydrocarbons | $400.1 million | -7.9% |
| 164 | Personal toilet/shaving preparations, deodorants | $399.7 million | +5.2% |
| 165 | Tomatoes (prepared/preserved) | $398.2 million | +5.7% |
| 166 | Coated paper | $397.9 million | -10.6% |
| 167 | Coffee/tea extracts, concentrates | $397.7 million | +18.3% |
| 168 | Jewelry | $397.1 million | +7.6% |
| 169 | Electric motors, generators | $397 million | +13.3% |
| 170 | Railway/streetcar locomotives, rolling stock | $391.8 million | -10.6% |
| 171 | Monument/building stones, art | $385.3 million | -7.9% |
| 172 | Sort/screen/washing machinery | $381.7 million | +5.7% |
| 173 | Antibiotics | $376.7 million | -4.3% |
| 174 | Polycarboxylic acids | $372.3 million | +379% |
| 175 | Vegetable saps, extracts | $369.1 million | +10.5% |
| 176 | Miscellaneous cast iron or steel items | $366.5 million | +8.0% |
| 177 | Synthetic organic coloring | $360.9 million | +22.7% |
| 178 | Other diagnostic/lab reagents | $360.2 million | +16.9% |
| 179 | Prepared cereal foods | $359.9 million | +10.5% |
| 180 | Other machine parts, accessories | $359 million | +11.8% |
| 181 | Poultry meat | $349.6 million | +3.2% |
| 182 | Coated/laminated non-wovens | $346.1 million | +10.8% |
| 183 | Other measuring/testing machines | $343.8 million | +9.7% |
| 184 | Tracksuits, swimwear (not knit or crochet) | $343.6 million | +5.5% |
| 185 | Vinyl chloride polymers | $343 million | +6.1% |
| 186 | Miscellaneous live plants | $341.9 million | +14% |
| 187 | Iron and steel tanks, drums, boxes | $340.8 million | +1.8% |
| 188 | Orthopedic appliances | $337.2 million | +14.4% |
| 189 | Spray/dispersing mechanical appliances | $337.2 million | +11.4% |
| 190 | Stainless steel bars, rods | $335.8 million | +15.4% |
| 191 | Bombs, grenades, ammunition | $335.2 million | +231.9% |
| 192 | Other coloring matter, luminophores | $333.2 million | +25.9% |
| 193 | Live bovine cattle | $327.2 million | +38.6% |
| 194 | Sauces, mixed condiments, seasonings | $327.1 million | +3.7% |
| 195 | Hot-rolled iron or non-alloy steel products | $326.1 million | +8.4% |
| 196 | Locks, lock-keys | $325.7 million | +6.2% |
| 197 | Grapes (fresh or dried) | $323.4 million | -0.5% |
| 198 | Warships, lifeboats | $322.2 million | +22.5% |
| 199 | Wood fiberboard, other ligneous materials | $320.6 million | +4.4% |
| 200 | Uncoated paper for writing/printing | $319.6 million | +8.9% |
These 200 exported goods were worth a subtotal of US$241.8 billion or about three-quarters (75.6%) by value for all products exported from Spain during 2017.
See also Spain’s Top 10 Imports, Spain’s Top Trading Partners, Highest Value Spanish Import Products and Highest Value Spanish Export Products
Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 31, 2018
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on August 31, 2018
Trade Map, International Trade Centre. Accessed on August 31, 2018
Investopedia, Net Exports Definition. Accessed on August 31, 2018
Wikipedia, List of Companies of Spain. Accessed on August 31, 2018
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 31, 2018
Zepol’s company summary highlights by country. Accessed on March 29, 2016
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