According to allcitypopulation, Spain is a country located in the south-western region of Europe. It is bordered by Portugal to the west, France and Andorra to the northeast, and the Mediterranean Sea to the south and east. Spain covers an area of 505,990 square kilometers (195,364 square miles) making it one of the largest countries in Europe. According to Petwithsupplies, the capital city of Spain is Madrid with a population of 3,266,000 (2019). Other major cities include Barcelona with a population of 1,637,000, Valencia with a population of 794,000, Sevilla with a population of 689,000, Zaragoza with a population of 675,000, Málaga with a population of 575,000 (2019).
The geography of Spain is diverse with mountainous regions in the north, rolling hills and plains in central areas, and semi-arid desert regions in the southern part of the country. The Pyrenees mountain range divides Spain from France along its northern border while other mountain ranges such as Sierra Nevada can be found further south. The country also has numerous islands including Ibiza, Mallorca and Menorca which are located off its eastern coast in the Mediterranean Sea.
Spain has a market economy based on services (which account for more than 75% of GDP), manufacturing (accounting for around 20% of GDP), agriculture (accounting for around 5% of GDP) and tourism (accounting for around 10% of GDP). The country’s main industries include textiles, food processing, chemicals, shipbuilding, steel production and automobile manufacturing. It also has a large service sector encompassing banking and financial services as well as tourism which makes up a significant portion of its economy.
Spain’s main trading partners include other European countries such as France and Germany, the United States, China and Japan. It is a member of the European Union and participates in several free trade agreements such as the European Free Trade Association (EFTA) and the North American Free Trade Agreement (NAFTA). The country is also part of the World Trade Organization (WTO) which promotes free trade between its members.
Foreign Trade of Spain
Spain is one of the largest economies in Europe and is heavily dependent on foreign trade. The country exports a wide range of products including machinery, chemicals, food products, motor vehicles and pharmaceuticals. Its main trading partners are other European countries such as France, Germany and Italy as well as the United States, China and Japan. In 2019, Spain’s total exports reached a value of $325 billion while its imports totaled $306 billion.
The most important export markets for Spain are the European Union (EU) countries which accounted for 54% of the country’s total exports in 2019. The United States is the second-largest export market with 10% of total exports followed by China (7%), Japan (5%) and France (4%). As for imports, the EU countries remain the main source of Spanish imports accounting for 55% with Germany being the largest supplier at 14%, followed by France (11%) and China (10%).
In terms of commodities exported from Spain, machinery accounts for 18% of total exports followed by chemicals (15%), mineral fuels including oil (14%), motor vehicles including cars (13%), food products (11%) and pharmaceuticals (7%). The top import commodities include machinery at 15%, mineral fuels including oil at 11%, chemicals at 10%, motor vehicles including cars at 9%, electrical equipment at 8% and food products at 7%.
Spain also participates in several free trade agreements such as those established through its membership to the European Union and through bilateral agreements with other countries. These agreements have allowed Spanish companies to increase their access to foreign markets while giving them certain advantages over competitors from outside these trading blocs. Additionally, Spain has been involved in negotiations over a potential free trade agreement between Mexico, Colombia and Central America which could further open up new opportunities for Spanish companies looking to expand their international business activities.
Major Trading Partners of Spain
Spain is one of the largest trading nations in the world and is heavily dependent on foreign trade. Its main trading partners are other European countries such as France, Germany and Italy as well as the United States, China and Japan. In 2019, Spain’s total exports reached a value of $325 billion while its imports totaled $306 billion.
The European Union (EU) is Spain’s largest trading partner, accounting for 54% of the country’s total exports in 2019. Within the EU, Germany was the largest supplier at 14%, followed by France (11%), Italy (10%), Netherlands (7%) and Belgium (6%). The United States is Spain’s second-largest export market with 10% of total exports followed by China (7%), Japan (5%) and France (4%). As for imports, the EU countries remain the main source of Spanish imports accounting for 55% with Germany being the largest supplier at 14%, followed by France (11%) and China (10%).
China is an increasingly important trading partner for Spain. Since 2000, trade between both countries has grown significantly with exports from Spain to China increasing from €1.58 billion in 2000 to €7.89 billion in 2019 while imports from China to Spain have increased from €3.99 billion in 2000 to €13.12 billion in 2019. Major exports from Spain include machinery, motor vehicles including cars, chemicals and food products while major imports include electrical equipment, machinery parts and components as well as furniture and home accessories.
Japan has also become an important trading partner for Spain over recent years with Japanese companies investing heavily in Spanish infrastructure projects such as high-speed railways and renewable energy sources. In terms of trade figures, exports from Spain to Japan totaled $6 billion while imports reached $9 billion in 2019 making it one of the top ten export markets for Spanish goods that year. Major exports include motor vehicles including cars, machinery parts and components as well as chemicals while major imports include electrical equipment such as computers and mobile phones along with machinery parts and components.
Finally, the United States remains one of Spain’s most important trading partners with total bilateral trade reaching $25 billion annually according to figures from 2018-2019 making it one of the top five export markets for Spanish goods that year. Major exports from Spain to US include motor vehicles including cars along with machinery parts components while major imports include electrical equipment such as computers along with pharmaceutical products.
Major Imports and Exports of Spain
Spain is a major trading nation, importing and exporting goods to and from countries around the world. According to figures from 2019, the EU countries remain the main source of Spanish imports accounting for 55% with Germany being the largest supplier at 14%, followed by France (11%) and China (10%). The United States is Spain’s largest export market with 10% of total exports followed by China (7%), Japan (5%) and France (4%).
China is an increasingly important trading partner for Spain. Exports from Spain to China increased from €1.58 billion in 2000 to €7.89 billion in 2019 while imports from China to Spain have increased from €3.99 billion in 2000 to €13.12 billion in 2019. Major exports from Spain include machinery, motor vehicles including cars, chemicals and food products while major imports include electrical equipment, machinery parts and components as well as furniture and home accessories.
Japan has also become an important trading partner for Spain over recent years with Japanese companies investing heavily in Spanish infrastructure projects such as high-speed railways and renewable energy sources. Exports from Spain to Japan totaled $6 billion while imports reached $9 billion in 2019 making it one of the top ten export markets for Spanish goods that year. Major exports include motor vehicles including cars, machinery parts and components as well as chemicals while major imports include electrical equipment such as computers and mobile phones along with machinery parts and components.
Finally, the United States remains one of Spain’s most important trading partners with total bilateral trade reaching $25 billion annually according to figures from 2018-2019 making it one of the top five export markets for Spanish goods that year. Major exports from Spain to US include motor vehicles including cars along with machinery parts components while major imports include electrical equipment such as computers along with pharmaceutical products. Other major exports include wine, olive oil, textiles, dairy products, fruits & vegetables, seafood & fish products; aluminum & steel products; ceramic tiles; paper & cardboard products; processed foods; furniture & home accessories; computer hardware & software; automotive parts & accessories; chemicals & plastics; medical devices & pharmaceuticals; jewelry & gemstones; tobacco products among others goods exported around the world each year by Spanish businesses.