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
$2.24TCURRENT US$
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2012-2022
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GDP GROWTH
1.45%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
$15,345CURRENT US$
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2012-2022
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GDP PC GROWTH
-0.49%CURRENT US$
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About

Spain-Russia Trade: In 2022, Spain exported $1.35B to Russia. The main products that Spain exported to Russia were Pesticides ($123M), Other Processed Vegetables ($64.1M), and Packaged Medicaments ($45.5M). Over the past 5 years the exports of Spain to Russia have decreased at an annualized rate of 11.1%, from $2.44B in 2017 to $1.35B in 2022.

In 2020, Spain exported services to Russia worth $151M, with Travel ($151M) being the largest in terms of value.

Russia-Spain Trade: In 2022, Russia exported $7.06B to Spain. The main products that Russia exported to Spain were Petroleum Gas ($4.01B), Refined Petroleum ($1.49B), and Coal Briquettes ($356M). Over the past 5 years the exports of Russia to Spain have increased at an annualized rate of 22.5%,  from $2.56B in 2017 to $7.06B in 2022.

In 2020, Russia exported services to Spain worth $241M, with Transportation ($151M), Other business services ($51.7M), and Computer and information services ($13.8M) 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, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $1.35B to Russia. The main products exported from Spain to Russia were Pesticides ($123M), Other Processed Vegetables ($64.1M), and Packaged Medicaments ($45.5M). During the last 5 years the exports of Spain to Russia have decreased at an annualized rate of 11.1%, from $2.44B in 2017 to $1.35B in 2022.

In 2017, Russia exported $7.06B to Spain. The main products exported from Russia to Spain were Petroleum Gas ($4.01B), Refined Petroleum ($1.49B), and Coal Briquettes ($356M). During the last 5 years the exports of Russia to Spain have increased at an annualized rate of 22.5%, from $2.56B in 2022 to $7.06B in 2017.

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

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

Market Competitiveness

Color
Spain
Top Destination
France$65.2B
Russia
Top Destination
China$101B

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

In 2022, countries that imported more from Spain than Russia included France ($65.2B), Portugal ($34.9B), and United Kingdom ($22.6B).

In 2022, countries that imported more from Russia than Spain included China ($101B), India ($40.4B), and Turkey ($25.3B).

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

Comparative Advantage Spain - Russia

Flow
Scale

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

During 2022, Spain had a large net trade with Russia in the exports of Chemical Products ($402M), Machines ($284M), and Foodstuffs ($197M).

During 2017, Russia had a large net trade with Spain in the exports of Mineral Products ($6.23B), Metals ($273M), and Chemical Products ($208M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Russia+$83.2MPackaged Medicaments
Top Product Potential Russia Spain+$742MCrude Petroleum

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 Russia worth $151M, with Travel ($151M) being the largest in terms of value.

In 2020, Russia exported services to Spain worth $241M, with Transportation ($151M), Other business services ($51.7M), and Computer and information services ($13.8M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Russia (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 Russia. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Spain.

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

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