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Enhanced global steel trade monitoring
Steel Imports Report: Spain
Background
Spain is the world’s fourteenth-largest steel importer as of 2017. In 2018, Spain imported 10.7 million metric tons of steel, an 8 percent increase from 9.9 million metric tons in 2017. Spain’s imports represented about 3 percent of all steel imported globally in 2017. The volume of Spain’s steel imports in 2018 was approximately a third of that of the world’s largest importer, the United States. In value terms, steel represented just 2.4 percent of the total goods imported into Spain in 2018.
Spain imported steel from more than 150 countries and territories in 2018. The 10 countries highlighted in the map below represent the top sources for Spain’s imports of steel, receiving more than 350 thousand metric tons from each and together accounting for 80 percent of Spain’s steel imports in 2018.
The 2008-2009 Global Financial Crisis caused a significant decrease in Spain’s imports of steel, resulting in a trade surplus from 2009 until 2016, when it has since maintained a growing trade deficit. Since 2009, the volume of Spain’s imports has increased 52 percent, while exports have only increased by 5 percent over the same period. In 2018, Spain’s steel trade deficit amounted to –1.7 million metric tons, up 458 percent from –313 thousand metric tons in 2017.
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