Exporting to Spain

Spain Export Guide | Trade Finance Global

Exporting to Spain

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.

Exporting to Spain? Contact our local experts

First Name*

Last Name*

Your Organisation*

How much trade finance are you seeking?*

Your Email*

Telephone Number*

Briefly, what type of stock or trade are you looking to finance?

(Marketing Terms can be found here)

1.00 GBP
British Pound
1.00 GBP = EUR
=
EUR
Euro
1.00 EUR = INF GBP

Country Profile

CapitalKingdom of SpainReino de Espaa(Spanish)
Population46,710,000
Area505,990  km2 (195,360 sq mi)
km2 (51st)
CurrencyEuro (EUR)
GDP
LanguagesSpanish

Spain: Imports Profile

Imports from Spain

Import commodities:Madrid, the financial capital of SpainCurrency1 euro (€1) = 1.24 USDFiscal yearCalendar yearTrade organisationsEU, WTO and OECDStatisticsGDP$1.867 trillion (PPP, 2018) $1.437 trillion (nominal, 2018)GDP rank13th (nominal) / 16th (PPP)GDP growth3.6% (2015) 3.2% (2016) 3% (2017) 2.6% (2018f)GDP per capita$40, 371 (PPP, 2018) $31, 059 (nominal, 2018)GDP by sectoragriculture: 2.6% industry: 23.2% services: 74.2% (2017 est.)Inflation (CPI) 2% (2017 est.) -0.2% (2016 est.)Population below poverty line21.1% (2012 est.)Gini coefficient36.2 (2015, World Bank) 0.31 (2014, Eurostat)Labour force22.75 million (2017 est.)Labour force by occupationservices (70.7%), industry (14.1%), construction (9.9%), agriculture, farming and fishing (4.5%), energy (0.7%) (September 2009)Unemployment 14.55% (October 2018)Average gross salary€27, 675/ $32, 660 yearly (2015)Average net salary€22, 000/ $25, 980 yearly (2015)Main industriesMachine tools, pharmaceuticals, metals and metal manufactures, chemicals, shipbuilding, automobiles, medical equipment, textiles and apparel (including footwear), food and beverages, clay and refractory products, footwear, tourismEase-of-doing-business rank28th (2018)ExternalExports $313.7 billion (2017 est.)Export goodsMachinery, motor vehicles, foodstuffs, pharmaceuticals, medicines, other consumer goodsMain export partners France 15.1%  Germany 11.3%  Italy 7.8%  Portugal 7.1%  United Kingdom 6.9%  United States 4.4% (2017)Imports $338.6 billion (2017 est.)Fuels, chemicals, semi-finished goods, foodstuffs, consumer goods, machinery and equipment, measuring and medical control instrumentsMain import partners Germany 14.2%  France 11.9%  China 6.9%  Italy 6.8%  Netherlands 5.1%  United Kingdom 4% (2017)FDI stock $824.8 billion (31 December 2017 est.)Gross external debt $2.094 trillion (31 December 2017 est.)Public financesPublic debt 98.4% of GDP (2017 est.)Budget balance-3.1% (of GDP) (2017 est.)Revenues498.1 billion (2017 est.)Expenses539 billion (2017 est.)Credit rating Standard & Poor's:A- (Domestic)A- (Foreign)AAA (T&C Assessment)Outlook: Positive Moody's:Baa1Outlook: Stable Fitch:A-Outlook: Positive Scope:A-Outlook: StableForeign reserves$0.05 trillion (Aug 2014) Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars.
Top import destinations:Germany 14.2%, France 11.9%, China 6.9%, Italy 6.8%, Netherlands 5.1%, United Kingdom 4% (2017)
GDP growth (annual %)

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.

Read the TFG Exporters Guide here.

Importing from Spain? Contact our local experts

First Name*

Last Name*

Your Organisation*

How much trade finance are you seeking?*

Your Email*

Telephone Number*

Briefly, what type of stock or trade are you looking to finance?

(Marketing Terms can be found here)

Country Profile

CapitalKingdom of SpainReino de Espaa(Spanish)
Population46,710,000
Area505,990  km2 (195,360 sq mi)
km2 (51st)
CurrencyEuro (EUR)
GDP
LanguagesSpanish

0.84

Econ Complexity 29th of 214
1980
2016

$270B

Exports 15th of 221
1980
2016

$300B

Imports 15th of 221
1980
2016

$36.3k

GDP Per Capita 34th of 214
1990
2016
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