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%).

Spain Country Profile

Official Name (Local Language)Reino de Espana
CapitalMadrid
Population48,563,476
CurrencyEuro
GDP$1,252 billion
LanguagesSpanish
Telephone Dial In34

Spain Exports Profile

Exports ($m USD)

319,622

Number of Export Products

4,491

Number of Export Partners

228

Top 5 export partners

Country

Trade

% Partner Share

France

46,955

14.69

Germany

34,899

10.92

Italy

25,084

7.85

Portugal

22,379

7.00

United Kingdom

21,371

6.69

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils, etc, (excl. crude); preparation

11.2%

Automobiles with diesel engine displacing more

4.0%

Automobiles with reciprocating piston engine di

3.4%

Other medicaments of mixed or unmixed products,

2.4%

Automobiles with diesel engine displacing not m

1.9%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Spain

Agriculture

%

Product List

2.5%

Grain, vegetables, olives, wine grapes, sugar beets, citrus; beef, pork, poultry, dairy products; fish

Industry

%

Industry List

22.4%

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

Services

%

Service List

75.1%

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.

Information

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)

Spain Economic Statistics

Government Website

http://www.lamoncloa. gob.es/

Sovereign Ratings

https://countryeconomy. com/ratings/spain

Central Bank

Banco de España

Currency USD Exchange Rate

9214

Unemployment Rate

19.7%

Population below poverty line

21.1%

Inflation Rate

-0.3%

Prime Lending Rate

0.05%

GDP

$1,252 billion

GDP Pro Capita (PPP)

$36,500

Currency Name

Euro

Currency Code

EUR

World Bank Classification

High Income

Competitive Industrial Performance

32/138

Corruption Perceptions Index

42/180

Ease of Doing Business

30/190

Enabling Trade Index

15/136

Currency in Spain

Back to Top
Staying at home saves lives. You can help stop the spread of coronavirus (COVID-19).