Spain and Russia
Spanish-Russian relations moved from a strategic partnership and joint cultural programmes to suspended institutional economic contacts over the war in Ukraine. Sanctions altered exchanges without eliminating all diplomatic and trade ties.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08Bilateral context
Spain and the Soviet Union restored diplomatic relations in 1977 with reciprocal embassy openings.
What merchandise trade shows
In 2025, goods trade between Spain and Russia totalled 2,794.2 million current USD.
Documented trade sectors
Within the selected chapters, pharmaceutical products stands out in shipments from Spain to Russia, at 131.2 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 2,794.22 M USD | 2025 · Comtrade |
| Goods: Spain to Russia | 868.07 M USD | 2025 · Comtrade |
| Goods: Russia to Spain | 1,926.16 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: Spain to Russia | 0.2 % | 2025 · Comtrade |
| Export share: Russia to Spain | ||
| Investment stock: Spain in Russia | ||
| Investment stock: Russia 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 · Goods; full calendar year; reporter ESP. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Spain to Russia
- 2025 · UN Comtrade · Goods; full calendar year; reporter ESP. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Russia to Spain
- 2025 · UN Comtrade · Goods; full calendar year; reporter ESP. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Export share: Spain to Russia
- 2025 · UN Comtrade · Exports to the partner / worldwide exports by the same reporter; same year and coverage.
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 | Russia |
|---|---|---|
| Nominal GDP | 1.91 trillion USD2025 · WB | 2.59 trillion USDIMF est.2025 · IMF |
| GDP per capita | 38,627.25 USD2025 · WB | 17,972.12 USDIMF est.2025 · IMF |
| GDP growth | 2.82 %2025 · WB | 1 %2025 · WB |
| Policy interest rate | 2.5 %2026-09-16 · BCE | 14 %2026-09-11 · CBR |
| Inflation · annual average | 2.7 %Annual average · 2025 · WB | 8.72 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 4.9 %provisionalprovisionalYear-on-year · Sept. 2026 · INE | 6.33 %Year-on-year · Aug. 2026 · CBR |
| Unemployment | 10.38 %ILO est.2025 · WB | 2.13 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -2.5 %IMF est.2025 · IMF | -3.9 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 100.4 %IMF est.2025 · IMF | 17.2 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 2.94 %2025 · WB | 1.68 %2025 · WB |
| Population | 49,355,1432025 · WB | 143,997,000IMF est.2025 · IMF |
| Area | 505,976 km²2023 · BM / FAO | 17,125,190 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.
For Russia, GDP, population and GDP per capita are estimates from the same IMF (WEO) dataset for 2025. The per-capita figure published by the IMF is used, rather than a calculation of our own. The earlier World Bank series could not be reconciled and are not mixed with this dataset. Review: 2026-10-07. IMF data terms of use0
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 BankRussia: 2025 · Nominal GDP in current USD · IMF — World Economic Outlook · IMF est. · IMF estimate (WEO). GDP, GDP per capita and population for this country come from the same WEO query for 2025; no separate GDP-per-capita figure has been calculated.
- GDP per capita
- Current USD per personSpain: 2025 · World BankRussia: 2025 · Nominal GDP per capita in current USD · IMF — World Economic Outlook · IMF est. · IMF estimate (WEO). GDP, GDP per capita and population for this country come from the same WEO query for 2025; no separate GDP-per-capita figure has been calculated.
- GDP growth
- Annual real change (%)Spain: 2025 · World BankRussia: 2025 · World Bank
- Policy interest rate
- Central bank instrument (%)Spain: 2026-09-16 · ECB deposit facility; shared euro-area rate · European Central BankRussia: 2026-09-11 · Bank of Russia policy rate · Bank of Russia
- Inflation · annual average
- Average annual change in headline CPI (%)Spain: 2025 · Annual average change in CPI (%) · World BankRussia: 2025 · Annual average change in CPI (%) · 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.Russia: 2026-08 · Change in headline CPI from the same month of the previous year (%) · Bank of Russia · Published: 2026-09-16 · Year-on-year CPI. The commentary's 6.9% is annualised seasonally adjusted monthly growth and is not used here.
- Unemployment
- % of the labour force; definition used by the stated institutionSpain: 2025 · World Bank · ILO est.Russia: 2025 · World Bank · ILO est.
- Budget balance
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.Russia: 2025 · IMF — World Economic Outlook · IMF est.
- Gross public debt
- General government (% of GDP)Spain: 2025 · IMF — World Economic Outlook · IMF est.Russia: 2025 · IMF — World Economic Outlook · IMF est.
- Current account balance
- % of GDPSpain: 2025 · World BankRussia: 2025 · World Bank
- Population
- PeopleSpain: 2025 · World BankRussia: 2025 · Population from the WEO series; do not mix with a denominator from another source · IMF — World Economic Outlook · IMF est. · IMF estimate (WEO). GDP, GDP per capita and population for this country come from the same WEO query for 2025; no separate GDP-per-capita figure has been calculated.
- 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 · FAORussia: 2023 · Total area, including inland waters; territorial coverage as defined by 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 Russia
| Product or sector | Value / share |
|---|---|
| Pharmaceutical products | 131.2 M USD2025 · Source |
| Machinery and mechanical appliances | 81 M USD2025 · Source |
| Dairy products, eggs and honey | 13 M USD2025 · Source |
| Vehicles and components | 9.8 M USD2025 · Source |
| Electrical and electronic equipment | 1.8 M USD2025 · Source |
Russia to Spain
| Product or sector | Value / share |
|---|---|
| Mineral fuels and oils | 1,430.1 M USD2025 · Source |
| Vehicles and components | 1.2 M USD2025 · Source |
| Machinery and mechanical appliances | 0.654 M USD2025 · Source |
| Electrical and electronic equipment | 0.154 M USD2025 · Source |
| Pharmaceutical products | 0.0875 M USD2025 · Source |
| Dairy products, eggs and honey | 0.000165 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | Spain to Russia | Russia to Spain |
|---|---|---|---|
| 2021 | 9,753.9 | 2,617.7 | 7,136.2 |
| 2022 | 9,378.7 | 1,355.9 | 8,022.8 |
| 2023 | 4,300.3 | 920.3 | 3,380.1 |
| 2024 | 3,428.8 | 816.4 | 2,612.4 |
| 2025 | 2,794.2 | 868.1 | 1,926.2 |
Connections between people
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Spain living in Russia | ||
| Residents from Russia living in Spain | ||
| Study and training: Spain in Russia | ||
| Study and training: Russia in Spain | ||
| Academic stays: Spain in Russia | ||
| Academic stays: Russia in Spain | ||
| Travel: Spain to Russia | ||
| Travel: Russia 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.
Bilateral context
Spain and the Soviet Union restored diplomatic relations in 1977 with reciprocal embassy openings. The March 2009 strategic partnership and 2019 stability consultations belong to a stage before Russia’s full-scale Ukrainian invasion. [1]
The scale of both economies
Nominal GDP for Spain is 1,906.5 billion USD (2025), compared with 2,587.9 for Russia (2025). The reference populations are 49.36 and 144 million, respectively. In the same year, the economy of Spain was 0.737 times that of Russia in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [5] [6] [7] [8]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
That stage also included Dual Year in 2011, the languages and literature year in 2015-2016 and tourism year in 2016-2017. The Spanish profile notes institutional economic relations were suspended due to the Ukrainian conflict. The Joint Commission, with investment, space, energy, transport and tourism groups, had held its last plenary in February 2021. Sanctions reduced Spanish exports; energy imports evolved differently, influenced by gas prices. This history prevents describing the 2009 partnership as an expression of current political relations. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Spain and Russia) totalled 2,794.2 million current USD. Shipments from the first to the second were 868.1 million; those in the opposite direction, 1,926.2 million. The difference between the two flows was 1,058.1 million, in favour of Russia. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from Spain to the partner represented 0.2% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Five years of trade trends
The consistent series shows 9,753.9 million USD in 2021 and 2,794.2 million in 2025. The change between the two endpoints was -71.4 % in current dollars. The highest annual value in the period was recorded in 2021, at 9,753.9 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [3]
Documented trade sectors
Within the selected chapters, pharmaceutical products stands out in shipments from Spain to Russia, at 131.2 million USD in 2025. Within the selected chapters, mineral fuels and oils stands out in shipments from Russia to Spain, at 1,430.1 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [4]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Country profile — Russia
Spain’s Ministry of Foreign Affairs, European Union and Cooperation — Diplomatic Information Office · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Trade series 2021–2025
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- Official statistics
IMF — World Economic Outlook · Institutional source · Accessed: 2026-10-08
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- Official statistics
IMF — World Economic Outlook · Institutional source · Accessed: 2026-10-08
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.