Spain and China
Trade, business activity and university cooperation connect Spain and China. The April 2026 agreements expanded diplomatic dialogue and the cultural and scientific agenda. Spain participates in these initiatives as a state, while European trade policy has its own institutions.
Analysis reviewed: 2026-10-07 · Indicators updated: 2026-10-07A formal diplomatic mechanism
The foreign ministers signed a mechanism for strategic diplomatic dialogue on 14 April 2026.
Economic cooperation and businesses
The April visit brought together cooperation agreements and economic activities.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 64,382.79 M USD | 2025 · UN Comtrade / ESP |
| Goods: Spain to China | 8,651.58 M USD | 2025 · UN Comtrade / ESP |
| Goods: China to Spain | 55,731.21 M USD | 2025 · UN Comtrade / ESP |
| Services trade | ||
| Export share: Spain to China | 2 % | 2025 · UN Comtrade / ESP |
| Export share: China to Spain | ||
| Investment stock: Spain in China | ||
| Investment stock: China in Spain |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / ESP · Goods; full year; ESP reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: Spain to China
- 2025 · UN Comtrade / ESP · Goods; full year; ESP reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: China to Spain
- 2025 · UN Comtrade / ESP · Goods; full year; ESP reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Export share: Spain to China
- 2025 · UN Comtrade / ESP · Goods share: ESP exports to the partner / the same reporter's exports to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Year-on-year inflation: different periods or frequencies; the two figures are not directly comparable.
| Indicator | Spain | China |
|---|---|---|
| Nominal GDP | 1.91 trillion USD2025 · WB | 19.5 trillion USD2025 · WB |
| GDP per capita | 38,627.25 USD2025 · WB | 13,861.97 USD2025 · WB |
| GDP growth | 2.82 %2025 · WB | 4.96 %2025 · WB |
| Policy interest rate | 2.5 %2026-09-16 · BCE | 1.4 %2026-09-24 · PBoC |
| Inflation · annual average | 2.7 %Annual average · 2025 · WB | 0.06 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4.9 %provisionalprovisionalYear-on-year · Sept. 2026 · INE | 0.8 %Year-on-year · Aug. 2026 · NBS China |
| Unemployment | 10.38 %ILO est.2025 · WB | 4.62 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -2.5 %IMF est.2025 · IMF | -7.9 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 100.4 %IMF est.2025 · IMF | 99.2 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 2.94 %2025 · WB | 3.77 %2025 · WB |
| Population | 49,355,1432025 · WB | 1,406,585,0002025 · WB |
| Area | 505,976 km²2023 · BM / FAO | 9,562,910 km²2023 · BM / FAO |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDSpain: 2025 · World BankChina: 2025 · World Bank
- GDP per capita
- Current USD per personSpain: 2025 · World BankChina: 2025 · World Bank
- GDP growth
- Annual real change (%)Spain: 2025 · World BankChina: 2025 · World Bank
- Policy interest rate
- Central bank instrument (%)Spain: 2026-09-16 · ECB deposit facility; shared euro-area rate · European Central BankChina: 2026-09-24 · PBoC: 7-day reverse repo · People’s Bank of China · Published: 2026-09-24 · Rate of the official operation consulted, not the mortgage LPR or the PSL lending rate. Subsequent operations with zero volume are not converted into a 0% interest rate.
- Inflation · annual average
- Average annual change in headline CPI (%)Spain: 2025 · Annual average change in CPI (%) · World BankChina: 2025 · Average annual CPI change (%) · World Bank
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedSpain: 2026-09 · Change in headline CPI from the same month of the previous year (%) · Spain's National Statistics Institute (INE) · Published: 2026-09-29 · provisional · Provisional · Advance indicator of headline CPI; final results pending. Not HICP (5.0%) or core inflation (3.1%). Provisional data or an official advance release; subject to revision.China: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · National Bureau of Statistics of China · Published: 2026-09-09 · National headline year-on-year CPI, not monthly inflation or an annual average.
- Unemployment
- % of the labour force; definition used by the stated institutionSpain: 2025 · World Bank · ILO est.China: 2025 · World Bank · ILO est.
- Budget balance
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.China: 2025 · IMF — World Economic Outlook · IMF est.
- Gross public debt
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.China: 2025 · IMF — World Economic Outlook · IMF est.
- Current account balance
- % of GDPSpain: 2025 · World BankChina: 2025 · World Bank
- Population
- PeopleSpain: 2025 · World BankChina: 2025 · World Bank
- Area
- Total area in km²; territorial coverage of the sourceSpain: 2023 · Total area, including inland waters; territorial coverage as defined by the source · World Bank · FAOChina: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAO
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Spain to China
| Product or sector | Value / share |
|---|---|
| Pharmaceutical products | 1,330.8 M USD2025 · Source |
| Machinery and mechanical appliances | 448.6 M USD2025 · Source |
| Electrical and electronic equipment | 315.5 M USD2025 · Source |
| Land vehicles and components | 213.6 M USD2025 · Source |
| Mineral fuels and oils | 34.5 M USD2025 · Source |
China to Spain
| Product or sector | Value / share |
|---|---|
| Electrical and electronic equipment | 12,497.2 M USD2025 · Source |
| Machinery and mechanical appliances | 8,559.3 M USD2025 · Source |
| Land vehicles and components | 4,621.5 M USD2025 · Source |
| Pharmaceutical products | 589.8 M USD2025 · Source |
| Mineral fuels and oils | 180.1 M USD2025 · Source |
Connections between people
Education, work, visits and community connections have their own records and procedures. Residents are not equivalent to annual arrivals, and visits may be repeated. The tables retain dates, definitions and sources to distinguish these connections from business contracts and government decisions. [2]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Spain living in China | ||
| Residents from China living in Spain | ||
| Study and training: Spain in China | ||
| Study and training: China in Spain | ||
| Academic stays: Spain in China | ||
| Academic stays: China in Spain | ||
| Travel: Spain to China | ||
| Travel: China to Spain |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
A formal diplomatic mechanism
The foreign ministers signed a mechanism for strategic diplomatic dialogue on 14 April 2026. It establishes an institutional channel of dialogue, distinct from a business contract or defence treaty. This framework allows several issues of bilateral interest to be addressed without demonstrating that the two countries' positions coincide on all conflicts or international decisions. [1]
Economic cooperation and businesses
The April visit brought together cooperation agreements and economic activities. Announcements identify priorities and instruments, while customs trade records goods actually registered. Sales, sanitary authorisations and production projects may follow different timelines. China's weight as a market or supplier must be assessed using data for each direction, not inferred solely from a high-level visit. [2]
Campuses and heritage as specific connections
The agreements include collaboration on joint teaching and research campuses, projects between the National Archaeological Museum and the National Museum of China, and forestry and biodiversity cooperation. These are institutional areas distinct from industrial trade. Their announcement opens programmes and implementation tasks; it does not show that every campus or activity is already complete or automatically provide a student count. [2]
The scale of the two economies
Spain recorded nominal GDP of 1,906.5 billion USD in 2025, compared with 19,498 in 2025 for China. The reference populations were 49.36 million (2025) and 1,406.59 million (2025), respectively. In the same year, Spain's nominal GDP was 0.1 times China's. These figures contextualise market size; they do not by themselves describe well-being, individual wealth or political influence. IMF estimates or population extrapolations retain their labels in the table. No ratio is calculated when periods do not match. [4] [5]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-07
The 14 April 2026 agreements
The visit combined diplomatic, economic and cultural instruments. Each has its own responsible bodies and objectives: a museum does not implement trade obligations, and a foreign affairs mechanism is not direct investment. The profile preserves this separation and uses the 2025 figures as an earlier statistical reference, without attributing results preceding the agreements' signing to them. [2] [1]
Observed economic exchange
In 2025, recorded goods trade between Spain and China totalled 64,382.8 million USD. Shipments from Spain to China were 8,651.6 million USD; those in the reverse direction were 55,731.2 million USD. Spain's shipments to the partner represented 2% of its goods exports to the world, using the same year and reporter. A single customs reporting source is used for both directions. This annual flow does not include all services activity or affiliates' local sales and is not added to accumulated investment capital. [3]
Milestones and consequences
Sources and data
Periods and scope of the figures
Each figure retains its period, unit, definition and source. Announcements, contracts and results are not interchangeable. Empty cells do not mean zero. Customs data for 2025 are not presented as activity observed during later crises.
- Strategic diplomatic dialogue mechanism
Spain's Ministry of Foreign Affairs · Institutional source · Document: 2026-04-14 · Accessed: 2026-10-07
- Economic, cultural and scientific agreements
Government of Spain · Institutional source · Document: 2026-04-14 · Accessed: 2026-10-07
- Annual TOTAL X/M; 2025; reporter 724; partners 0,156,380,826,76,484,152,170
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- HS2 27; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- HS2 30; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- HS2 84; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- HS2 85; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
- HS2 87; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods
UN Comtrade / ESP · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 27; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 30; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 84; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 85; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.
- UN Comtrade / ESP
2026-10-07 · Accessed: 2026-10-07 · HS2 87; 2025; reporter 724; partners 156,380,826,76,484,152,170; X/M; annual goods.