In recent years, rapid growth in imports and exports has made Spain one of the most internationally-oriented countries in the world. In this regard, according to the 2006 UNCTAD World Investment Report, Spanish outflows in 2005 reached $38,772 million, making the country one of the largest EU investors.

With regard to the trading of goods, Spain is ranked 17th in the world as an exporter and 12th as an importer; while in the trading of services it occupies 7th place as an exporter and 10th place as an importer¹².

The Spanish share of goods and services exports (Spanish exports/global exports) is 1.8%, while its share of goods and services imports (Spanish imports/global imports) stands at 2,6%.

The breakdown by industry of foreign trade is relatively diversified, as can be seen inthe followingtable:

During 2006, Spain's main trading partners were the countries of the UE-25. Exports to the European Union amount to 70.3% of total exports represent an increase of 8% from the previous year while sales to the Euro Zone accounted for 56.2% of the total - a 7,8% increase from 2005. Imports to Spain from these countries also rose in 2006: 7.8% from the UE and 7.5% from the Euro Zone.

Spain's main trading partners during 2006 have been France and Germany followed by Latin America and then North America. Trading relationships beyond the EU have been very dynamic, with a rise of 17.5% in exports and 19% in imports.

With regard to investment, in recent years Spain has been one of the main recipients of foreign direct investment. In 2005, Spain ranked ninth in FDI income and third in the EU in terms of foreign company subsidiaries. The positive trend of productive FDI inflows (13,738 million euros, gross inward investment; and 7,472 million euros, net inward investment) is especially notable.

Further evidence of Spain's highly developed economy is the fact that, since 1997, outward investment flows have outstripped inward investment flows.

As a summary of Spanish foreign trade, the balance of payments is attached.

¹² WTO International trade statistics 2006 Report.