In 2024, Spain's iron and steel trade resulted in EUR 7.4 billion in exports and EUR 10.9 billion in imports, leading to a foreign trade deficit of EUR 3.54 billion. While both exports and imports in the sector declined, Spain maintained its position as a net importer. According to data from Complejidad Económica, iron and steel ranked 16th among 97 products in exports and 9th in imports.
Spain’s iron and steel exports reached EUR 7.4 billion, while imports totaled EUR 10.9 billion in 2024. The sector accounted for 1.89% of total exports and 2.51% of total imports.
On the export side, Spain’s iron and steel exports fell by 10.3% compared to 2023, dropping from EUR 8.24 billion to EUR 7.4 billion. The largest export market was France, followed by Portugal, Italy, Germany, and the United Kingdom. The most notable increase was in exports to Belgium, which rose by EUR 39.7 million year-over-year. Other markets that saw export growth included Israel, Greece, Romania, and Thailand.
On the import side, iron and steel imports declined by 6.09% from EUR 11.6 billion in 2023 to EUR 10.9 billion in 2024. France and Germany were the top suppliers, followed by Portugal, Italy, and the Netherlands. Imports from Turkey recorded the largest increase, rising by EUR 192 million. Additionally, Vietnam, Indonesia, India, and South Africawere among the countries with growing export volumes to Spain.
Overall, the data confirms that Spain continues to show a high dependency on iron and steel imports, maintaining its net importer status in the trade balance. While European countries remain the main export destinations, the rise in imports from Turkey and Asian countries stands out.
Top Export Destinations (2024):
-
France: EUR 1.36 billion
-
Portugal: EUR 1.18 billion
-
Italy: EUR 1 billion
-
Germany: EUR 779 million
-
United Kingdom: EUR 477 million
Largest Export Increase:
-
Belgium: EUR 39.7 million
Top Import Origins (2024):
-
France: EUR 1.93 billion
-
Germany: EUR 1.32 billion
-
Portugal: EUR 754 million
-
Italy: EUR 741 million
-
Netherlands: EUR 529 million
Highest Import Growth:
-
Turkey: EUR 192 million
Comments
No comment yet.