Non-tourism service exports have consolidated their position as the most dynamic segment of Spain's foreign trade sector, driven by business and ICT services, with the EU and the US as the main markets. Spain is making progress but still has a structural gap with the EU that reveals potential for expansion.

Amid rising global uncertainty, trade tensions with the United States are resurfacing. As background, in 2018 the EU responded to Trump's tariffs by imposing levies of 25% on more than 180 products. This had a lasting effect on the pattern of Spanish imports, although the overall economic impact remained limited.