Importing from Spain

Spain Import Guide | Trade Finance Global

Importing from Spain

Spain is a highly agriculturally focused country and produces large crops of barley, wheat, tomatoes, olives, lemons and many other fruits and vegetables. These helped push exports to $318.6 billion in 2014, up 29.4% from 2010.

Spain achieved a trade surplus for the first time in three decades in 2013 following a policy of reducing imports and increasing exports, while in 2015 the GDP grew by 3.2%, a rate not seen since the crisis struck in 2008. Top Spanish exports are vehicles (16.2%), machines (7.6%) and oil (7.2%).

Importing from Spain? Contact our local experts

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Your Organisation*

How much trade finance are you seeking?*

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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

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

Spain: Exports Profile

Exports from Spain

Export 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.)Machinery, 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.)Import goodsFuels, 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 export destinations:France 15.1%, Germany 11.3%, Italy 7.8%, Portugal 7.1%, United Kingdom 6.9%, United States 4.4% (2017)
GDP growth (annual %)

Importing from Spain: What is trade finance?

Trade finance is a revolving facility which alternative lenders offer - it enables firms to buy inventory and can help ease working capital problems.

Often, a trade financier will fund most of the cost of the stock, including charges (e.g. delivery costs).

Trade finance offers benefits over more traditional bank funding 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 products outside of your own country, then a trade finance facility would assist your company to fund this through offering a letter of credit or some form of cash advance.

I’m looking to import from Spain, how can Trade Finance Global help, and how does it work?

If you are looking to import products from other countries, you may require import finance, which is an agreement between yourself (the importer) and the foreign exporter. A alternative financier will act as the intermediary, paying the exporter on your behalf until you receive the stock and have then sold them to your buyer. Repaying the financier then occurs over an agreed period.

Read the TFG Importers 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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