Spanish exports to the United States have suffered a 5% drop during the first half of 2025 compared to the same period last year, according to data recently published by the Ministry of Industry, Trade and Tourism and corroborated by ICEX reports. This decline occurs in a context of greater tariff and logistical complexity, in addition to macroeconomic factors that affect US demand.
Among the sectors that have contributed most to this fall are: automotive and manufactured goods, which have been affected by supply chain delays and increased transportation costs. The agri-food industry, traditionally strong in exports to the United States, has also shown some contraction, attributable to changes in sanitary and phytosanitary regulations.
On the contrary, Spanish exports to China have experienced a notable growth, driven by an increase in Chinese domestic consumption and greater demand for high-quality Spanish products. Particularly noteworthy are the sectors of wine, olive oil, pharmaceuticals and machinery, which have seen significant increases in sales. Furthermore, the reactivation of trade agreements and the improvement of maritime logistics routes have favored this positive trend.
This change in trade flows reflects a strategic restructuring Spanish exports are seeking to diversify markets in the face of uncertainty in the United States, caused by trade tensions and more restrictive economic policies. There is also growing interest in strengthening the company's presence in Asia, where demand for European products continues to expand.
From a logistical perspective, the increase in exports to China has been facilitated by improved port capacity and reduced transit times, while shipments to the United States face higher costs and wait times due to congestion and new regulations.
Regarding international financing, Spanish exporting companies are adapting to a scenario where access to export credit and insurance is more selective, influencing strategic decisions regarding entry into more volatile markets.
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