Spain-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $68.31B total volume •Spain surplus: $1.18B
Spain → Italy
$34.75B
Exports (2023)
Italy → Spain
$33.56B
Imports (2023)
Trade Balance
$1.18B
Surplus for Spain
Total Trade
$68.31B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Spain and Italy. 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-Italy commercial relationship and competitive positioning in global markets.
Spain → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Spain's export portfolio to Italy demonstrates strong diversification across multiple sectors, with vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc representing a key competitive advantage in this bilateral market.
Italy → Spain Imports
Import Dependency Profile
📦 Import Strategy Analysis
Spain's import pattern from Italy reveals strategic sourcingin 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, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Spain demonstrates competitive strength in exportingvehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc to Italy, 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: Spain-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $68.31 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Spain maintains a surplus of $1.18 billion
- Export Focus: Spain's primary exports 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
- Import Dependencies: Key imports from Italy 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
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 Spain leveraging its comparative advantages in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc.
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 vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cccomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly 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.
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 vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc and 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 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Spain's trade surplus of $1.18 billion strengthens 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 Italy represents a total trade volume of $68.31 billion in 2023. This partnership demonstrates a favorable trade balance for Spain, with exports exceeding importsby $1.18 billion.
Export Strengths
Spain's exports to Italy total $34.75 billion, with competitive advantages in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity not over 1000cc, representing $1.24B or3.6% of bilateral exports.
Import Dependencies
Imports from Italy amount to $33.56 billion, highlighting economic interdependence 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, 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 comprising6.0% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Spain's competitive position in this bilateral relationship. 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 Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023