That dollar amount reflects a 25.3% expansion compared to $375.5 billion five years prior during 2019.
Year over year, the overall cost of products imported into Spain decreased by -5.7% from $499.1 billion in 2022.
Based on the average exchange rate for 2023, Spain uses the euro which depreciated by -3.5% against the US dollar since 2019 but appreciated by 2.6% from 2022 to 2023. The weaker European Union currency after 2019 made Spain’s imports paid for in stronger US dollars relatively more expensive when converted starting from the weaker euro.
Domestically, Spain’s inflation rate was 3.493% in 2023 in terms of average consumer prices. Spain’s inflation rate was much higher at 8.323% for 2022.
Spanish imports represent approximately 1.9% of total global imports which totaled an estimated $25.392 trillion one year prior in 2022.
Spain’s Best Suppliers of Imported Products
The latest available country-specific data shows that just over two-thirds (67.4%) of products imported into Spain was furnished by exporters in: Germany (12.6% of the Spanish total), France (10.4%), mainland China (8.4%), Italy (7.4%), Netherlands (6.7%), United States of America (5.7%), Portugal (4.2%), Belgium (3.5%), United Kingdom (2.4%), Poland (2.2%), Morocco (2.03%) and Türkiye (1.96%).
Applying a continental lens, 60.8% of Spain’s total imports by value in 2023 was purchased from fellow European countries. Trade partners in Asia supplied 19.8% of import purchases by Spain. Another 7.7% worth originated from providers in Africa, with 7.4% coming from North America.
Spain joined the European Union on January 1, 1986. Fellow EU members satisfied 55.5% of Spain’s imported product demand in 2023.
Smaller percentages were furnished by sellers in Latin America (3.9%) excluding Mexico but including the Caribbean, and Oceania (0.3%) led by Australia and New Zealand.
Given Spain ‘s population of 47.8 million people, its total $470.4 billion in 2023 imports translates to roughly $9,800 in yearly product demand from every person in the European country. That per-capita dollar amount lags the average $10,400 in spending one year earlier in 2022.
Spain’s Top 10 Imports
The following product groups represent the highest dollar value in Spain’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Spain.
- Mineral fuels including oil: US$68.8 billion (14.6% of total imports)
- Vehicles: $52 billion (11.1%)
- Electrical machinery, equipment: $43.3 billion (9.2%)
- Machinery including computers: $43.1 billion (9.2%)
- Pharmaceuticals: $22.9 billion (4.9%)
- Plastics, plastic articles: $16.4 billion (3.5%)
- Organic chemicals: $12.8 billion (2.7%)
- Iron, steel: $12.8 billion (2.7%)
- Optical, technical, medical apparatus: $11.9 billion (2.5%)
- Clothing, accessories (not knit or crochet): $11.1 billion (2.3%)
Spain’s top 10 imports accounted for 62.7% of the overall value of Spanish product buys from other countries.
Vehicles posted the fastest increase in purchases among the top 10 import categories, up 24.7% from 2022 to 2023.
In second place for improving import sales was the optical, technical and medical apparatus product category, up 16.5%.
Spanish imports of machinery including computers placed third via a 13.1% gain.
The severest declines among the top 10 Spanish imports were recorded for mineral fuels including oil (down -28% from 2022), organic chemicals (down -12.2%), then the metals iron and steel (down -10.9%).
At the more detailed 4-digit Harmonized Tariff System code level, the biggest products imported into Spain were crude oil (7.9% of Spain’s import purchases), cars (5%), automobile parts or accessories (3.5%), petroleum gases (3.2%), medication mixes in dosage (3.1%), processed petroleum oils (2.5%), phone devices including smartphones (1.6%), blood fractions including antisera (1.4%), computers including optical readers (1%), then insulated wire or cable (0.9%).
Combined, that cohort of most valuable Spanish imported goods represent almost one-third (30.2%) of Spain’s total imports in 2023.
Information presented under the sections below is also at the more granular 4-digit level.
Spain’s Imports of Mineral Fuels and Related Products
In 2023, Spanish importers spent the most on the following 10 subcategories of mineral fuels-related products.
- Crude oil: US$37.3 billion (down -22% from 2022)
- Petroleum gases: $15.1 billion (down -45.2%)
- Processed petroleum oils: $11.5 billion (down -2.1%)
- Electrical energy: $1.9 billion (down -45.6%)
- Coal, solid fuels made from coal: $1.5 billion (down -47.4%)
- Coal tar oils (high temperature distillation): $537 million (down -42.1%)
- Petroleum oil residues: $357.4 million (down -42.7%)
- Coke, semi-coke: $106.2 million (down -52.5%)
- Petroleum jelly, mineral waxes: $76.7 million (down -42.7%)
- Peat: $54.7 million (down -0.3%)
Among these import subcategories, Spanish purchases of peat (down -0.3%), processed petroleum oils (down -2.1%), then crude oil (down -22%) declined at the slowest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imports related to mineral fuels among Spanish businesses and consumers.
Spain’s Imports of Vehicles
In 2023, Spanish importers spent the most on the following 10 subcategories of vehicles.
- Cars: US$23.7 billion (up 36.2% from 2022)
- Automobile parts/accessories: $16.6 billion (up 3.5%)
- Trucks: $3.6 billion (up 52.1%)
- Tractors: $1.9 billion (up 27.4%)
- Motorcycles: $1.4 billion (up 9.4%)
- Public-transport vehicles: $1.1 billion (up 63.9%)
- Motorcycle parts/accessories: $731 million (down -19.4%)
- Trailers: $604.4 million (up 5%)
- Special purpose vehicles: $566.5 million (up 73.1%)
- Bicycles, other non-motorized cycles: $205.5 million (down -25.6%)
Among these import subcategories, Spanish purchases of special purpose vehicles (up 73.1%), public-transport vehicles (up 63.9%), then trucks (up 52.1%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Spanish businesses and consumers.
Spain’s Imports of Electronics
In 2023, Spanish importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.
- Phone devices including smartphones: US$7.7 billion (up 5.8% from 2022)
- Insulated wire/cable: $4.3 billion (up 30.8%)
- Electric storage batteries: $3.7 billion (up 15.1%)
- Solar power diodes/semi-conductors: $3.5 billion (down -18.8%)
- Electrical converters/power units: $3 billion (up 8.2%)
- Lower-voltage switches, fuses: $2.1 billion (up 6.2%)
- TV receivers/monitors/projectors: $1.8 billion (down -12.4%)
- Electric water heaters, hair dryers: $1.6 billion (down -2.6%)
- Electrical/optical circuit boards, panels: $1.5 billion (up 28.6%)
- Electric motors, generators: $1.4 billion (up 28.2%)
Among these import subcategories, Spanish purchases of insulated wire or cable (up 30.8%), electrical or optical circuit boards and panels (up 28.6%), then electric motors and generators (up 28.2%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Spanish businesses and consumers.
Spain’s Imports of Machinery Including Computers
In 2023, Spanish importers spent the most on the following 10 subcategories of machines including computers.
- Computers, optical readers: US$4.7 billion (down -7.2% from 2022)
- Piston engines: $2.8 billion (up 45%)
- Turbo-jets: $2.7 billion (up 6.4%)
- Centrifuges, filters and purifiers: $2.4 billion (up 7.7%)
- Engines (diesel): $2 billion (up 26.6%)
- Taps, valves, similar appliances: $1.75 billion (up 1.6%)
- Air conditioners: $1.73 billion (up 14.7%)
- Air or vacuum pumps: $1.6 billion (up 8%)
- Piston engine parts: $1.32 billion (up 9.5%)
- Miscellaneous machinery: $1.27 billion (up 11%)
Among these import subcategories, Spanish purchases of piston engines (up 45%), diesel engines (up 26.6%) then air conditioners (up 14.7%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Spanish businesses and consumers.
See also Spain’s Top 10 Exports, Spain’s Top Trading Partners and Top EU Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on April 15, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 15, 2024
Trade Map, International Trade Centre. Accessed on April 15, 2024