In 2021, Spain recorded exports of goods and services totaling 316,609 million euros. Colombia accounted for a small share, 0.34 percent, just over 1,100 million euros. Despite the modest slice, Spain’s key partner China is linked to Colombia, which ranks ninth after the United States, Mexico, Brazil, and Germany in this trading landscape.
During the year, the trade balance with Colombia remained favorable, as imports from the Latin American country stood at 610 million euros, yielding a positive balance of 491 million euros. ICEX Spain Exports and Investments highlights show that imports decreased from 1,050 million euros in 2016 to 471 million euros in 2020.
From January to August 2021, semi-finished products led export sales with around 200 million euros, followed by capital goods at 119.2 million euros, food, beverages and tobacco at 55.4 million euros, and consumer goods at 54.1 million euros. The top products exported in 2021 included unleaded gasoline for vehicles and engine components at 10.64 percent of the total, human-use pharmaceuticals at 3.7 percent, and propene at 2.8 percent.
Between 2015 and 2020, a total of 281 Spanish companies traded with Colombia, with 331 maintaining consecutive exports over the last four years. Spain ranks as the 13th destination country for Colombian exports. Major Spanish financial assets active in Colombia include BBVA, Banco Santander, Banco Sabadell, CaixaBank, and Renta 4, alongside oil companies such as Repsol and Cepsa.
Spanish airlines Iberia and Air Europa operate flights from Madrid and Barcelona to Bogotá, with connections also reaching Medellín. In contrast, Colombia’s primary airline, Avianca, maintains direct routes to both cities. The Spanish airport operator Aena runs a Colombian subsidiary, with Rafael acting as the operating partner for 37.89% of El Nuevo International Airport and owning 50% of Alfonso Bonilla Aragón International Airport.
Hotels under the NH and Eurostars brands operate multiple tourist facilities in Colombia. NH lists fourteen hotels in Barranquilla, Cartagena, Bogotá, Cali, and Medellín, while Eurostars contributes two more locations. In terms of infrastructure, Spanish construction firms maintain a local presence through subsidiaries in Colombia. Firms such as Abertis, Acciona, FCC, ACS, Ferrovial, and Sacyr have worked on projects in Colombia, with Grupo Ortiz winning a recent tender to build a 260-kilometer highway valued at about 382.4 million dollars, in collaboration with a local partner.
Other notable examples include the Jenos pizzeria chain, acquired by Telepizza in 2010. Names like Inditex and English Court appear in the context of tourism and retail, while telecommunications giant Telefónica, utility company Naturgy, and metallurgical producer Acerinox maintain Colombian operations as part of their regional footprint.