Overview of best prospect sectors and business opportunities, including significant government procurement as appropriate.
Chemicals were the largest U.S. export to Spain in 2021, accounting for 30.3 percent of total exports, followed by oil and gas (23.8 percent), transportation equipment (9 percent), agricultural products (7.8 percent), and computer and electronic products (4.7 percent).
U.S. exports to Spain have consistently included aircraft and associated parts and equipment, pollution control and water resources equipment, medical products and equipment, outbound travel and tourism, electric power systems, telecommunications equipment, automotive parts and supplies, and pharmaceuticals.
Other sectors offering good prospects include defense, security equipment, renewable energy equipment and services, and industrial machinery. The service sector is playing an increasingly important role in the Spanish economy (approx. 70 percent of GDP).
The U.S. Commercial Service (CS) in Spain offers a range of programs tailored to U.S. companies interested in exporting their products and services to Spain. Services provided vary from due diligence reports on Spanish firms, partnership (agent, representative, distributor) searches, appointment schedules, U.S. government advocacy, and organizing company promotional events. CS Spain actively supports SelectUSA, the federal initiative announced in May 2011 to promote foreign direct investment into the United States on a national level.
Due to macroeconomic reforms in the financial sector and labor laws, costs have dropped, and productivity has increased in comparison to other major markets in the region. These reforms have increased Spain’s competitiveness, making it a good market for entry not only into the European region but also for Latin America and Africa.
Spain’s food, beverage, and agricultural processing sectors continue to consolidate their position and importance in the country. Spain has one of the most competitive food processing industries in Europe, which makes this sector an important target for U.S. food ingredient exporters.
Principal agricultural exports to Spain from the United States in 2021 included tree nuts, soybeans and soybean meal, distilled spirits, forest products, seafood products, distillers’ grains, and pulses, in this order.
Principal agricultural growth products in 2021:
- Consumer-oriented products including tree nuts (walnuts, pistachios, and pecans), distilled spirits (Bourbon, gin), food preparations (other food preparations), condiments and sauces (sauces and preps, mustard), fresh vegetables (asparagus)
- Fish products: lobster, surimi, hake
- Forest products: wood casks, maple
- Bulk: soybeans, corn
The U.S.-EU Organic Equivalence Agreement came into effect in June 2012. As a result, products certified as organic for one market can be sold as organic in the other market.
Note that the Foreign Agriculture Service provides market information for Spain. Please visit the Foreign Agricultural Service website to access all these reports.