Spain: Trade Profile

Foreign Trade in Figures

Spain is open to foreign trade, which represented 68% of its GDP in 2021 (up from 60% one year earlier - World Bank). The country mainly exports motor cars (8.7% - 86% of the vehicles and 60% of the auto-parts manufactured in Spain were exported worldwide in 2021), petroleum products other than crude, medicaments, and vehicle parts; importing crude oil (6.9% of total imports), cars and vehicle parts, and medicaments (Comtrade).

According to official government data, in 2021 the main destinations for Spanish exports included France (15.9%), Germany (10.2%), Italy (8.4%), Portugal (7.9%) and the UK (5.9%); while imports came chiefly from Germany (11.2%), China (10.2%), France (10%), Italy (6.6%) and the U.S. (5%). Overall, the EU-27 represented 61.8% of total exports and 49.9% of imports.

The country's trade balance for merchandise is structurally negative due to high imports of fuel and high added-value goods; although the trade in services is generally positive. In 2021, Spanish goods exports reached USD 383 billion, up by 24.7% year-on-year, as opposed to USD 418.1 billion in imports (+28.6%). Trade in services followed a similar trend, with exports totalling USD 119 billion against USD 73 billion in imports (+32.8% and +21.2%, respectively – data WTO). In the same year, the overall trade balance of the country was positive by 1.5% of GDP (World Bank). According to the latest data available from the Spanish Institute of Statistics, in the first ten months of 2022 exports of goods grew by 23.6% year-on-year to EUR 319.7 billion, while imports increased by 38% to EUR 380 billion. In real terms, exports grew by 4.2% year-on-year, as export prices grew by 18.7%, while imports rose by 9.7% y-o-y, with import prices growing by 25.9%. Exports to the EU represented 62.4% of total exports and 44.2% of total imports in the reference period.

Main Partner Countries

Source: UN Comtrade Database, Latest data available.

Main Products

Source: UN Comtrade Database, Latest data available.

To go further, check out our service Import/Export Flows.

Main Services

Source: United Nations Statistics Division, Latest data available.

Source: World Bank, Latest data available.

Find out all the exchange rates daily on our service Currency Converter.

Trade Compliance

International Conventions

Member of the World Trade Organization (WTO)
Member of the Organisation for Economic Co-operation and Development (OECD)
Party to the Kyoto Protocol
Party to the Washington Convention on International Trade in Endangered Species of Wild Fauna and Flora
Party to the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal
Party to the International Coffee Agreement

International Economic Cooperation

Spain is a member of the following international economic organisations: IMF, European Union, ICC, Central American Integration System (SICA) (observer), WTO, Latin American Integration Association (LAIA) (observer), OECD, European Economic Area, among others. For the full list of economic and other international organisations in which participates Spain click here. International organisation membership of Spain is also outlined here.

Free Trade Agreements

The complete and up-to-date list of Free Trade Agreements signed by Spain can be consulted here.

Party of the ATA Convention on Temporary Admissions and Use of the Carnets

Yes

As a Reminder, the ATA is a System Allowing the Free Movement of Goods Across Frontiers and Their Temporary Admission Into a Customs Territory With Relief From Duties and Taxes. The Goods Are Covered By a Single Document Known as the ATA Carnet That is Secured By an International Guarantee System.

Party of the TIR Convention

Yes

As a Reminder, the TIR Convention and its Transit Regime Contribute to the Facilitation of International Transport, Especially International Road Transport, Not Only in Europe and the Middle East, But Also in Other Parts of the World, Such as Africa and Latin America.

Accompanying Documents For Imports

The goods movement within the community area is exempted from customs duty and customs formalities.

Documents required for an intercommunity delivery:
- Sales invoice (two copies)
- Delivery note (optional document)
- Sanitary and phytosanitary certificate (for living animals)
- Unique Data Folder, UDF (for exchanges with the Overseas Departments, Channel Islands and Canary Islands).

Additional documents for an extra-community transaction:
- Import licenses
- Approvals
- Single Administrative Document (SAD)
- Health certificate

To go further, check out our service Shipping Documents.

Free-trade zones

Spain counts seven free-zone ports, located in Vigo, Cadiz, Barcelona, Santander, Seville, Tenerife, and Las Palmas de Gran Canaria – all of which fall under the EU Customs Union, permitting the free circulation of goods within the EU. The entire province of the Canary Islands is a Special Economic Zone (SEZ), offering fiscal benefits that include a reduced corporate tax rate, a reduced VAT rate, and exemptions for transfer taxes and stamp duties.

For Further Information

Agencia Tributaria (Customs agency)
Ministry of Industry, Tourism and Commerce

Non Tariff Barriers

Spain applies the community regulations valid in the entire European Union.
There are a certain number of restrictions for agricultural products ensuing from the application of CAP (Common Agricultural Policy).
Besides, for health reasons, the presence of GMO must be systematically specified on the packages.
It is forbidden to import hormone-fed beef.
The BSE crisis (the "mad cow's" disease) prompted the authorities to strengthen phytosanitary measures to ensure the quality of meat entering and moving on the territory of the Union. The principle of precaution is henceforth preferred to a greater extent: in case of doubt, the import is forbidden until proof of harmlessness of the products is established.

Sectors or Products For Which Commercial Disagreements Have Been Registered With the WTO

Assessment of Commercial Policy

The pages of WTO dedicated to Spain
Barriers to exchanges, inventoried by the United States

Standards

Integration in the International Standards Network

At European level:
- European Committee for Standardization (CEN)
- European Committee for Electrotechnical Standardization (CENELEC)
- European Telecommunications Standardization Institute (ETSI)

At the international level:
- International Standard Organization (ISO)
- International Electrotechnical Commission (IEC)
- International Telecommunications Union (ITU)

Obligation to Use Standards

Obligatory. Products are subject to the European Union's legislation (General product safety Directive, technical legislation) as well as to the national Spanish legislation.

Classification of Standards

UNE, national certification mark.
CE, European certification mark.

Assessment of the System of Standardization

Spanish consumers are particularly standard-conscious since standards grants the quality and safety of products and give them information about their features.

Online Consultation of Standards

The catalog of Spanish standards
The catalog of European standards
The ISO catalog
The IEC catalog

Certification Organisations

Accredited certification companies

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