Spanish imports represent 1.9% of total global imports which totaled $16.473 trillion one year prior in 2015.
From a continental perspective, 65.2% of Spain’s total imports by value in 2016 were purchased from European countries. Asian trade partners supplied 18.4% of import sales to Spain while 7.1% worth originated from African exporters. At 5.3%, North America accounted for a smaller percentage of Spain’s total imports.
Given Spain ‘s population of 48.6 million people, its total $309.6 billion in 2016 imports translates to roughly $6,400 in yearly product demand from every person in the country.
Country-specific trade deficits indicate Spain’s competitive disadvantages and areas which foreign businesses can and do exploit. Spain accumulated the world’s ninth-biggest trade deficit during 2014.
Spain’s trade deficit in 2014 shrank by 53.3% since 2010 when its negative balance was -$69.3 billion.