2022
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GDP
$1.4TCURRENT US$
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2012-2022
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GDP GROWTH
5.49%CURRENT US$
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2022
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 GDP
$2.01TCURRENT US$
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2012-2022
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GDP GROWTH
-3.67%CURRENT US$
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2022
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GDP PC 
$29,350CURRENT US$
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2012-2022
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GDP PC GROWTH
3.63%CURRENT US$
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2022
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GDP PC
$34,158CURRENT US$
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2012-2022
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GDP PC GROWTH
-2.55%CURRENT US$
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About

Spain-Italy Trade: In 2022, Spain exported $32.1B to Italy. The main products that Spain exported to Italy were Cars ($3.3B), Industrial Fatty Acids, Oils and Alcohols ($1.55B), and Pure Olive Oil ($1.28B). Over the past 5 years the exports of Spain to Italy have increased at an annualized rate of 5.7%, from $24.4B in 2017 to $32.1B in 2022.

In 2020, Spain exported services to Italy worth $704M, with Travel ($704M) being the largest in terms of value.

Italy-Spain Trade: In 2022, Italy exported $32.8B to Spain. The main products that Italy exported to Spain were Broadcasting Equipment ($1.9B), Refined Petroleum ($1.53B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.07B). Over the past 5 years the exports of Italy to Spain have increased at an annualized rate of 5.12%,  from $25.6B in 2017 to $32.8B in 2022.

In 2020, Italy exported services to Spain worth $2.22B, with Travel ($774M), Other business services ($556M), and Transportation ($297M) being the largest in terms of value.

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $32.1B to Italy. The main products exported from Spain to Italy were Cars ($3.3B), Industrial Fatty Acids, Oils and Alcohols ($1.55B), and Pure Olive Oil ($1.28B). During the last 5 years the exports of Spain to Italy have increased at an annualized rate of 5.7%, from $24.4B in 2017 to $32.1B in 2022.

In 2017, Italy exported $32.8B to Spain. The main products exported from Italy to Spain were Broadcasting Equipment ($1.9B), Refined Petroleum ($1.53B), and Motor vehicles; parts and accessories (8701 to 8705) ($1.07B). During the last 5 years the exports of Italy to Spain have increased at an annualized rate of 5.12%, from $25.6B in 2022 to $32.8B in 2017.

Exports from Spain (Flag) to Italy (Flag) (2022)

Exports from Italy (Flag) to Spain (Flag) (2022)

Market Competitiveness

Color
Spain
Top Destination
France$65.2B
Italy
Top Destination
Germany$78.5B

This map shows whether countries import more from Spain or Italy. Each country is colored based on the difference in imports they receive from Spain and Italy or the difference in the growth in imports.

In 2022, countries that imported more from Spain than Italy included Portugal ($34.9B), Morocco ($12.1B), and France ($65.2B).

In 2022, countries that imported more from Italy than Spain included United States ($68.2B), Germany ($78.5B), and Switzerland ($27.8B).

Difference in imports from Italy (Flag) and Spain (Flag) (2022)

Comparative Advantage Spain - Italy

Flow
Scale

This chart compares trade between Spain and Italy by product, considering products traded by both, Spain and Italy.

During 2022, Spain had a large net trade with Italy in the exports of Transportation ($5.27B), Chemical Products ($4.35B), and Metals ($3.43B).

During 2017, Italy had a large net trade with Spain in the exports of Machines ($8.4B), Chemical Products ($3.73B), and Metals ($3.45B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Italy+$278MPackaged Medicaments
Top Product Potential Italy Spain+$329MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Spain exported services to Italy worth $704M, with Travel ($704M) being the largest in terms of value.

In 2020, Italy exported services to Spain worth $2.22B, with Travel ($774M), Other business services ($556M), and Transportation ($297M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Spain (Flag) to Italy (Flag) (2020)

Services Exports from Italy (Flag) to Spain (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Spain and Italy. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Spain.

Product Space of Spain (Flag) and Italy (Flag) (2022)

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