Italy-Spain Bilateral Trade Analysis 2023
Complete trade statistics: $68.31B total volume •Italy deficit: $1.18B
Italy → Spain
$33.56B
Exports (2023)
Spain → Italy
$34.75B
Imports (2023)
Trade Balance
$1.18B
Deficit for Italy
Total Trade
$68.31B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Italy and Spain. Green line shows exports from Italy, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Italy-Spain commercial relationship and competitive positioning in global markets.
Italy → Spain Exports
Export Market Intelligence
🎯 Strategic Export Focus
Italy's export portfolio to Spain demonstrates strong diversification across multiple sectors, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
Spain → Italy Imports
Import Dependency Profile
📦 Import Strategy Analysis
Italy's import pattern from Spain reveals strategic sourcingin vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Italy demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to Spain, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $68.31B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Italy-Spain Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $68.31 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Italy maintains a deficit of $1.18 billion
- Export Focus: Italy's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, telephones for cellular networks or for other wireless networks, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
- Import Dependencies: Key imports from Spain include vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc, vegetable oils: olive oil and its fractions, virgin, whether or not refined, but not chemically modified, biodiesel and mixtures thereof: not containing or containing less than 70% by weight of petroleum oils or oils obtained from bituminous minerals
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents one of the world's largest trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $68.31B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Italy leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Italy's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements Spain's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $68.31B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $68.31B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $68.31 billion bilateral trade volume represents a major economic driverfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Italy's trade deficit of $1.18 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Italy and Spain represents a total trade volume of $68.31 billion in 2023. This partnership demonstrates an unfavorable trade balance for Italy, with imports exceeding exportsby $1.18 billion.
Export Strengths
Italy's exports to Spain total $33.56 billion, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $2.02B or6.0% of bilateral exports.
Import Dependencies
Imports from Spain amount to $34.75 billion, highlighting economic interdependence in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc, with Vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc comprising3.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Italy's strategic sourcing from Spain. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Italy and Spain in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023