Spain-China Bilateral Trade Analysis 2023
Complete trade statistics: $54.19B total volume •Spain deficit: $37.16B
Spain → China
$8.52B
Exports (2023)
China → Spain
$45.67B
Imports (2023)
Trade Balance
$37.16B
Deficit for Spain
Total Trade
$54.19B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Spain and China. Green line shows exports from Spain, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Spain-China commercial relationship and competitive positioning in global markets.
Spain → China Exports
Export Market Intelligence
🎯 Strategic Export Focus
Spain's export portfolio to China demonstrates strong diversification across multiple sectors, with medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale representing a key competitive advantage in this bilateral market.
China → Spain Imports
Import Dependency Profile
📦 Import Strategy Analysis
Spain's import pattern from China reveals significant dependencyin vehicles: with only electric motor for propulsion, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Spain demonstrates competitive strength in exportingmedicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale to China, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $54.19B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Spain-China Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $54.19 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Spain maintains a deficit of $37.16 billion
- Export Focus: Spain's primary exports include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, copper ores and concentrates, meat: of swine, n.e.c. in item no. 0203.2, frozen
- Import Dependencies: Key imports from China include vehicles: with only electric motor for propulsion, electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (led), electric accumulators: lithium-ion, including separators, whether or not rectangular (including square)
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 $54.19B 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 Spain leveraging its comparative advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
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
Spain's specialization in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail salecomplements China'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 electric motor for propulsion.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $54.19B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $54.19B 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 $54.19 billion bilateral trade volume represents a major economic driverfor both economies.
Industrial Integration
Trade flows in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale and vehicles: with only electric motor for propulsion demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Spain's trade deficit of $37.16 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 Spain and China represents a total trade volume of $54.19 billion in 2023. This partnership demonstrates an unfavorable trade balance for Spain, with imports exceeding exportsby $37.16 billion.
Export Strengths
Spain's exports to China total $8.52 billion, with competitive advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, representing $1.15B or13.5% of bilateral exports.
Import Dependencies
Imports from China amount to $45.67 billion, highlighting economic interdependence in vehicles: with only electric motor for propulsion, with Vehicles: with only electric motor for propulsion comprising5.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Spain's strategic sourcing from China. 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 Spain and China in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023