Spain is an exporting country, but imports still exceed exports. The most imported products from Asia come from China, but other countries like India and Vietnam are also important suppliers from the East.
The Ministry of Industry, Commerce, and Tourism publishes the official foreign trade data each year. Thanks to their statistics, we know that in 2018 Spain mainly exported to France, Germany, Italy, Portugal, the United Kingdom, the United States, the Netherlands, Belgium, Morocco, and China.
Our largest volume of imports comes from Germany, France, China, Italy, the United States, the Netherlands, the United Kingdom, Belgium, Turkey, and Morocco. Additionally, we buy products from the Pacific, mainly from India, Vietnam, Myanmar, Indonesia, Pakistan, and Thailand. In 2018, the most imported products from Asia came from China, accounting for 6.88% of total imports.
Most Demanded Products in Spain
Many companies analyze international trade data to detect business opportunities and new market niches. The map of imports by country in 2018 shows that the most demanded products were:
- Chemical products
- Metal derivatives
- Machinery
- Electrical equipment
- Fuels
- Textile products
- Consumer manufactures
- Vehicles and their components
- Food
- Animals
- Plant products
- Minerals
Where do all these goods come from? Regarding the most imported products from Asia, we have the following data:
- From China, Taiwan, Malaysia, and Vietnam come machinery and electrical equipment
- From India, chemical and metal products
- From Bangladesh, Pakistan, and Cambodia come textiles and other manufactures
- From Indonesia, food products
- From China, Turkey, and Bangladesh come consumer manufactures (textiles, footwear, and toys)
Although Spanish exports grew by 2.9% in 2018 compared to the previous year, reaching a record volume of 285.024 billion euros, imports also increased, specifically by 5.6%, totaling 318.864 billion euros.
These figures show that importing from Asia remains a good business despite uncertainties in the international situation and the new IMO 2020 regulation, which will come into effect on January 1, 2020. The key lies in choosing the products most demanded by our market niche.
In addition to the statistical data published by major official organizations, there are easy-to-use tools that allow us to know which products are in highest demand. For example, search engines like Google can provide very interesting information about market niches and sales expectations.
This is what many entrepreneurs who manufacture their products in Asia and sell them through online platforms like Amazon are doing. This business model continues to grow, offering very interesting opportunities, such as creating a quality own brand at a low cost and then marketing it in Spain and other countries.
The options for manufacturing in Asia are enormous. If you need information or advice, do not hesitate to contact Bull Importer. We will study the viability of your business and guide you through the entire import process.
