Imports in Spain are on the rise again after significant reforms were put in place after the GFC have begun to take effect. Dropping from $415.5 billion in 2008 to $292.3 billion in 2009, this had risen to $351 billion by 2014, up by 11.2% in four years. Tax reform, record employment growth and increased investment in research and development are all credited with assisting with the growth.
Oil is the single biggest import, reflecting 20.9% of all imports followed by vehicles at 11.2%, machines, engines and pumps at 8.5% and electronic equipment at 6.9%. Of that total, 58.4% were purchased from Europe while 19.4% came from Asia and 6.2% from North America.
Spain Country Profile
Official Name (Local Language)
Reino de Espana
Telephone Dial In
Spain Imports Profile
Imports ($m USD)
Number of Import Products
Number of Import Partners
Top 5 import partners
% Partner Share
Top 5 Import Products at HS 6 digit level
Petroleum oils and oils obtained from bituminou
Motor vehicle parts nes
Other medicaments of mixed or unmixed products,
Automobiles with diesel engine displacing more
Petroleum oils, etc, (excl. crude); preparation
Chart Showing GDP Growth Compared to rest of world
Textiles and apparel (including footwear), food and beverages, metals and metal manufactures, chemicals, shipbuilding, automobiles, machine tools, tourism, clay and refractory products, footwear, pharmaceuticals, medical equipment
Exporting to Spain: What is trade finance?
Export finance is a revolving facility which alternative financiers offer – it enables organisations to purchase stock and can help ease cashflow issues.
Typically, an alternative financier will fund most of the cost of the product, including charges (e.g. insurance costs).
Trade finance offers added advantages over more traditional bank finance for example bridging mortgages or loans. Trade finance provides up front funding without affecting existing relationships with banks.
How does it work?
If you’re a firm importing or exporting stock supplies from or to other countries, then a trade finance facility would help you to fund this through offering a letter of credit or some form of cash advance.
I’m looking to export to Spain, how can Trade Finance Global help, and how does it work?
If you’re looking to export stock supplies to other international markets, you may need finance for exporting, which is an agreement between you (the exporter), and the importer from overseas. A non-bank lender would advance you the cost of producing the goods that you are exporting (as a debt product), either once you have shipped the goods, or before manufacturing them. Once the importer has received the stock and pays you for the import, you will repay the advance from the export bank over an agreed period.
Trade Finance Global is the trading name of TFG Finance Ltd (company number: 10305143) and TFG Publishing Ltd (12157036), incorporated in England and Wales, at 201 Haverstock Hill, Second Floor Fkgb, London, England, NW3 4QG. Trade Finance Global is registered as a Data Controller under the ICO: ZB421903 and ZB436621.
TFG Finance Ltd is an introducer, not a lender, working with Limited Companies and Incorporated Bodies who may pay us a commission.