Spain exports far more than olive oil, sun and wine

The data on trade in general paints a more complex picture. Spain’s goods exports reached €384.5 billion in 2024, the second-best year in the historical series, according to the Ministry of Economy, Trade and Business. At the same time, international tourist spending in Spain reached €126.3 billion in 2024, underlining how important services remain to the country’s foreign earnings. These figures together help to explain why Spain offers much more than just a destination for holidays with a strong sector in food.

What does Spain export really?

Spain exports more goods and services that many people think. This includes cars, chemicals, pharmaceuticals and machinery, as well as agrifood products. Xataka’s recent look at the data, drawing on the Atlas of Economic Complexity, argues that Spain’s export map shows a country that is much more industrial than the cliché suggests. The OEC The country profile of Spain shows that it is a diverse basket of exports and not dependent on one sector.

Tourism is huge — but it is not the whole story

Tourism remains Spain’s largest source of foreign revenue. INE says international visitors spent €126.282 billion in Spain in 2024, up 16.1% on the previous year. Travel is a significant export, even though it’s not a product that can be loaded into trucks or containers.

Strength is important but also the risks that come with it. Spain is exposed to external shocks because of tourism, which has a high value. It is for this reason that a more complete export picture is so important: it shows how the country doesn’t rely on just one engine. The contrast between Spain’s tourism revenues and its large merchandise base supports this interpretation.

Spain’s exports continue to be dominated by cars

The automotive sector is one of the most important sectors to correct stereotypes. OEC’s Trade Profile shows that cars are one of Spain’s top export products. Its bilateral product profile states that Spain will account for 4.38% global car exports by 2024. This makes it the seventh largest exporter in the world.

This is a good reminder that Spain does not just sell lifestyle products overseas. The country is also a significant manufacturing base in Europe, with large-scale production for international markets. Spain’s automotive industry may not be the mainstay of its public image, but it is a key exporter.

The story of chemicals and pharmaceuticals is bigger than most readers think

The chemical and pharmaceutical industries are also a part of Spain’s export economy, but they are often overlooked. According to the OEC profile, pharmaceuticals are one of Spain’s most important export categories. UN Comtrade trade data estimates that Spain’s pharmaceuticals exports will reach $18.18 billion by 2024. This puts Spain in a more high-value market, and not just traditional low-margin products.

Here is where old stereotypes start to seem especially outdated. A country exporting cars, pharmaceuticals and chemicals, as well as a large volume of services, does not easily fit into the old “sun and sangria” narrative. Xataka makes this point very well, and the official data and trade datasets also support it.

Food still matters — just not in the way many people imagine

This does not mean the traditional image is totally wrong. Spain remains a major exporter and these products are still central to the way it is perceived abroad. Olive oil, pork, fruits and vegetables, and wine are still important commercially and culturally.

The important thing is to find balance. The OEC’s export profile for 2024 and the Ministry of Trade figures show a more complex economy than the Mediterranean postcard. Although food is still an important part of Spanish exports, it does not explain the entire structure.

Spain’s economy has more faces than its cliché

This could be the most important takeaway. Spain remains a tourism giant. It remains a major food exporter. It is a country that has a diverse range of trade profiles, a strong manufacturing sector and serious industrial capabilities.

This is important for readers in Spain because it alters the way they understand the economy. Exports are not limited to what foreigners buy on vacation. Spain also builds, formulates and assembles products that are sold on global markets. This makes Spain’s image look more modern than stereotypes suggest.