Flag Portugal / Spain Flag

Exports FlagFlag  (2018): $16.8B, Rnk 1 / 201

Top Product FlagFlag (2018): $1.4B, Vehicle Parts

Exports FlagFlag (2018): $27.2B, Rnk 3 / 209

Top Product FlagFlag (2018): $1.26B, Cars

Economic Complexity of Flag (2018): ECI 0.46, Rnk 48 / 137

Economic Complexity of Flag (2018): ECI 0.85, Rnk 33 / 137

GDP Flag (2018): $1.63T, CONST 2011 USD
Rnk 52 / 188

GDP GROWTH Flag (2008-2018): 2.22%, CONST 2011 USD
Rnk 20 / 188

GDP Flag (2018): $1.63T, CONST 2011 USD
Rnk 17 / 188

GDP GROWTH Flag (2008-2018): 4.45%, CONST 2011 USD
Rnk 23 / 188

GDP PC Flag (2018): $28,999, CONST 2011 USD
Rnk 42 / 188

GDP PC GROWTH Flag (2008-2018): 4.97%, CONST 2011 USD
Rnk 54 / 188

GDP PC Flag (2018): $34,831, CONST 2011 USD
Rnk 34 / 188

GDP PC GROWTH Flag (2008-2018): 2.73%, CONST 2011 USD
Rnk 45 / 188

Portugal-Spain: In 2018, Portugal exported $16.8B to Spain. The main products exported from Portugal to Spain were Vehicle Parts ($1.4B), Refined Petroleum ($677M), and Knit T-shirts ($366M). During the last 23 years the exports of Portugal to Spain have increased at an annualized rate of 7.24%, from $3.36B in 1995 to $16.8B in 2018. In 2016, Portugal exported services to Spain worth $3.37B, with Travel ($1.82B), Transportation ($811M), and Other business services ($608M) being the largest in terms of value.

Spain-Portugal: In 2018, Spain exported $27.2B to Portugal. The main products exported from Spain to Portugal were Cars ($1.26B), Vehicle Parts ($1.25B), and Petroleum Gas ($774M). During the last 23 years the exports of Spain to Portugal have increased at an annualized rate of 6%, from $7.13B in 1995 to $27.2B in 2018. In 2016, Spain exported services to Portugal worth $1.06B, with Travel ($1.06B) being the largest in terms of value.

Comparison: In 2018, Portugal ranked 48 in the Economic Complexity Index (ECI 0.46), and 44 in total exports ($72B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.85), and 15 in total exports ($330B). In terms of GDP Per Capita, Portugal was ranked 42 with a GDP Per Capita of $28,999, and Spain was ranked 34 with a GDP Per Capita of $34,831.

Bilateral Trade by Products

#permalink to section
Depth
Value

In 2018, Portugal exported $16.8B to Spain. Spain is the 1st export destination of Portugal, accounting for 23.3% of Portugal's exports. The main products exported from Portugal to Spain were Vehicle Parts ($1.4B), Refined Petroleum ($677M), and Knit T-shirts ($366M). During the last 23 years the exports of Portugal to Spain have increased at an annualized rate of 7.24%, from $3.36B in 1995 to $16.8B in 2018.

In 2018, Spain exported $27.2B to Portugal. Portugal is the 3rd export destination of Spain, accounting for 8.25% of Spain's exports. The main products exported from Spain to Portugal were Cars ($1.26B), Vehicle Parts ($1.25B), and Petroleum Gas ($774M). During the last 23 years the exports of Spain to Portugal have increased at an annualized rate of 6%, from $7.13B in 1995 to $27.2B in 2018.

Market Competitiveness

#permalink to section
Measure

Portugal
Top Destination
: Spain, $16.8B

Spain
Top Destination
: France, $48.6B

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

In 2018, countries that imported more from Portugal than Spain were Angola ($1.98B), Cape Verde ($346M), and Mozambique ($240M).

In 2018, countries that imported more from Spain than Portugal were France ($48.6B), Germany ($36.3B), and Italy ($25.4B).

Comparative Advantage Portugal - Spain

#permalink to section
Section

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

Portugal has a large net trade with Spain in the exports of Transportation ($2.15B), Metals ($2B), and Textiles ($1.73B).

Spain has a large net trade with Portugal in the exports of Machines ($3.59B), Transportation ($3.01B), and Metals ($2.93B).

Tariff Section

#permalink to section

In 2017,  Portugal and Spain are members of the European Union, so they have no Tariffs between each other regarding products.

Article 28 of the TFEU promotes the free circulation of goods within the EU by establishing a customs union. The customs union prohibits the charging of any duties on imports and exports within member states of the EU or the levying of any charge having the equivalent effect as a customs duty (CHEE). Duties are still payable on goods coming from countries outwith the EU but once the goods have passed through the import formalities of one member state they enjoy the same freedom of movement as goods originating within the EU.

To explore the different product levels and year available with data, visit our Tariff Explorer Section. Explore Tariff Data

Trade Predictions

#permalink to section

This section shows a prediction for total trade between Portugal and Spain. The Prediction is based on a Long Short-Term Memory Model constructed using annual trade data.

To create custom prediction, or modify the parameters of the predictive model, visit our Prediction Section .

Explore Predictions

Bilateral Service Trade

#permalink to section

In 2016, Portugal exported services to Spain worth $3.37B, with Travel ($1.82B), Transportation ($811M), and Other business services ($608M) being the largest in terms of value.

In 2016, Spain exported services to Portugal worth $1.06B, with Travel ($1.06B) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

#permalink to section

Competitive Landscape

#permalink to section

This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more Portugal has comparative advantage over Spain. Similarly, the more red a dot/product is, the more Spain has comparative advantage over Portugal.

Complexity Balance

#permalink to section

This chart shows the PCI of each product at the HS4 level with the delta of the exports by product between Portugal and Spain. Products that are above the 0 in the Y axis are exported more by Spain to Portugal than by Portugal to Spain.