Spain Is The Fifth Weakest In The EU In Terms Of Exports Over GDP

The Brexit vote had a very strong shock upon trade flows involving the UKThe Brexit vote had a very strong shock upon trade flows involving the UK

Despite the rhythm of Spain´s export of goods and services over the last five years – which have increased more tan ten percentage points over GDP, rising from only 22.7% in 2012 to 34.1% last year – Spain still finds itself 12 points below the EU average of 46%.

According to Eurostat, the weight of the export of goods and services over GDP in Spain was 34.1% in 2017, which makes the country fifth of those in the EU that export least. Only the UK (30.2%), France (30%), Italy (31.3%) and Greece (33.1%) export less than Spain in relation to GDP.

The countries which export most in relation to GDP are Luxemburg (230%), Ireland (120%), Slovakia (96.3%), Hungary (90.1%), Belgium (85.1%), Slovenia (82.2%) and Lithuania (81.3%). Among the other countries, Denmark (55.1%), Austria (54%), Germany (47.2%), Sweden (45.3%) and Portugal (43.1%) stand out, all greater than Spain last year.