SPANISH GLOBAL EXPORTS
Spain exports globally $275 billion of goods each year and is the 17th largest export economy in the world for example it’s responsible for producing 49% of the world’s olive oil. wow!
In 2019 Spain shipped $333.6 billion worth of goods around the globe. For the United Kingdom it meant 6.9% of those global exports.
Here a global overview of 10 TOP spanish exports
(this accounts for 55.1% of the total amount)
- Vehicles: US$55.9 billion (16.8% of total exports)
- Machinery including computers: $24.7 billion (7.4%)
- Mineral fuels including oil: $23.8 billion (7.1%)
- Electrical machinery, equipment: $18.5 billion (5.6%)
- Pharmaceuticals: $13 billion (3.9%)
- Plastics, plastic articles: $12.6 billion (3.8%)
- Fruits, nuts: $10.3 billion (3.1%)
- Clothing, accessories (not knit or crochet): $8.9 billion (2.7%)
- Meat: $8.2 billion (2.5%)
- Iron, steel: $8 billion (2.4%)
In this one you can find the top 10 exports by goods shipped from Spain (2019) with the percentage increase or decrease since 2018.
SPANISH EXPORTS TO UK
The UK is Spain’s 5th most important trading partner, representing 7% ($20.7-$21.2 billion / year.) of all Spanish sales abroad and is a top export destination of Spain, mainly for those sectors: transportation (cars, trains and aeronautics) and food (fruit and vegetables). We should not forget the high numbers of British tourists entering the country — 15.8 million aproximately, the principal market for the Spanish tourism sector.
In 2018 exports from spain meant up around 19 billion euro, around 7%of the total, while imports are around 11 billion, according to the Bankia blog (see sources below).
For example for the Spanish Manchego cheese the UK is the 3rd biggest importer (1 million kilos / year) after the US and Germany.
In this graphic you can see the value of UK imports from Spain, from 2012 to 2018:
Spain is responsible for supplying around a quarter of the UK’s fresh produce imports: 32% of all the vegetables and 20% of fruits.
In consequence export of goods and services to the UK are concentrated as follows; 40% are related to two key
– Automotive (24%)
– Agriculture, food and drink (16%)
Spain exported in fact 287.422 cars to the United Kingdom in 2018 even if the UK remain one of the greates exporters of cars in the world.
In this graphic you can see that Spain exported 1.8 billion of euros (motor vehicles, automotive parts and accesories) and UK did to Spain: 5.2 billion of euros.
In this graphic you can see how the imports in general (pink), surpasses the exports from the UK to Spain:
In this other graphic you can find out how Spain is one of the biggest exporters for UK (16%). Spain provides over half of mandarins and recently surpassed South Africa as the top orange supplier.
In this other one you can see that Spain sources most of the cauliflower and celery and in total it imports from Spain 33% of all imports.
BREXIT AND EXPORT IN SPAIN
Britain officially left the European Union (EU) on Jan. 31, 2020, putting an end to its 47-year-long membership. but really the effective Brexit day is December 31st 2020 – at the end of the transition period,
The impact of Brexit is concentrated on 3 industries in Spain, 70% and 60% of the total impact respectively: Automotive, Agriculture, food and drink; and Consumer goods. In absolute terms, Spain faces the 6th largest impact in the EU
For the export and import of goods, on January 1, 2021, the need to carry out all customs and non-customs procedures required for a third country will begin.
With or without a trade agreement, after the transitional period, the United Kingdom will leave EU Customs Union and will be a third country for all purposes, both in trade and services. British products will no longer have EU origin status.
The banking regulator also estimates effects on investment, consumption, employment, prices, exports and imports. See graphic here below:
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