SPAIN EXPORT-IMPORT SECTOR

Spains trade plays a significant role in the nations economy, accounting for more
than half of its GDP. The nation has, however, had a trade deficit persistently over the
past few years. Spains weak trade scenario is attributable to several factors,
predominantly the nations increasing reliance on imported petrol and decreased market
competitiveness. Additionally, the steady decline of Spain exports is also attributed to the
strength of the euro, since it was adopted by Spain for international trade, which has
made Spanish exports more expensive.
Primary Exports and Imports

Exports in Spain decreased to

19352500 Thousand EUR in December of
2014 from 19944375.46 Thousand EUR in
November of 2014. Exports in Spain
averaged

5522120.25 Thousand

EUR

from 1962 until 2014, reaching an all time high of 22347127.55 Thousand EUR in
October of 2014 and a record low of 14286.06 Thousand EUR in July of 1963.
Spain exports primarily manufactured products. The export of semi-finished goods,
ships, cars, pharmaceuticals and electronic devices account for over 50 percent of Spain
total exports. Spain is also the worlds third largest exporter of wine and fruits and
vegetables. The European Union accounts for 70 percent of Spain's exports. Main export
partners are: France (18 percent of total exports), Germany (15 percent), China (9.6
percent), Italy (8.5 percent), Netherlands (5.90 percent), United Kingdom, Portugal and
United States.

Imports in Spain decreased to 21174300 EUR Thousand in December of 2014

from 21499600 EUR Thousand in November of 2014. Imports in Spain averaged
7295329.69 EUR Thousand from 1962 until 2014, reaching an all time high of
26017059.86 EUR Thousand in October of 2007 and a record low of 37437.07 EUR
Thousand in January of 1962.
Spain main imports are: fuel (19 percent of total imports), food (7 percent),
machinery (6 percent) and motor cars (4 percent). The European Union accounts for 60
percent of Spain's imports. Main import partners are: France (11 percent of total imports),
Germany (8 percent), Portugal (7 percent) and Italy (6 percent). Others include: United
Kingdom, United States, Netherlands and China.
SOURCES: www.economywatch.com
www.tradingeconomics.com