{
  "template": "Corridor pair risk profile",
  "pageType": "Corridor pair risk profile",
  "source": "api",
  "generatedAt": "2026-08-29T11:48:15.194Z",
  "seo": {
    "title": "Spain exports to Hong Kong: Trade Route Risk | Yugalinks",
    "description": "Understand reported exports from Spain to Hong Kong, the product routes that need a closer look, and the conditions that may affect planning."
  },
  "publisher": {
    "name": "Yugalinks",
    "url": "https://www.yugalinks.com",
    "email": "support@yugalinks.com",
    "linkedin": "https://in.linkedin.com/company/yugalinks"
  },
  "exporter": {
    "iso3": "ESP",
    "country_name": "Spain"
  },
  "importer": {
    "iso3": "HKG",
    "country_name": "Hong Kong"
  },
  "latestYear": 2024,
  "risk": {
    "exporter_iso3": "ESP",
    "importer_iso3": "HKG",
    "all_history_lane_count": 511,
    "current_lane_count": 425,
    "current_product_count": 425,
    "first_observed_last_year": 1995,
    "latest_data_year": 2024,
    "current_trade_usd": 571835485.0547496,
    "attention_trade_usd": 379605445.41949904,
    "critical_trade_usd": 67343526.38179648,
    "high_volatility_trade_usd": 345131473.549351,
    "unrecovered_drawdown_trade_usd": 213186137.18188822,
    "declining_demand_trade_usd": 38017375.08100219,
    "concentrated_market_trade_usd": 167056455.62992463,
    "access_friction_trade_usd": 571835485.0547496,
    "buyer_macro_weakness_trade_usd": 0,
    "critical_lane_count": 1,
    "high_attention_lane_count": 73,
    "high_volatility_lane_count": 270,
    "unrecovered_drawdown_lane_count": 280,
    "declining_demand_lane_count": 12,
    "concentrated_market_lane_count": 260,
    "access_friction_lane_count": 425,
    "trade_weighted_volatility_cv": 1.2058169523695292,
    "trade_weighted_below_peak_pct": 34.578157279082305,
    "product_concentration_hhi": 344.6269142289838,
    "top1_product_share_pct": 11.776730920318588,
    "top3_product_share_pct": 23.70252606098023,
    "top_product_hs6": "841112",
    "top_product_trade_usd": 67343526.38179648,
    "top_product_description": "Turbo-jets: of a thrust exceeding 25kN",
    "top_attention_product_hs6": "841112",
    "top_attention_product_reason": "Current trade remains more than 50% below its historical peak",
    "distance_km": 10551.060546875,
    "shares_land_border": 0,
    "shares_official_language": 0,
    "common_spoken_language_score": 0.09720000624656677,
    "has_reported_fta": 0,
    "avg_applied_tariff_pct": 0,
    "avg_mfn_tariff_pct": 0,
    "avg_preferential_tariff_pct": null,
    "tariff_advantage_pp": null,
    "buyer_biz_entry_days": 1.5,
    "buyer_biz_entry_cost_pct": null,
    "buyer_gdp_mn_latest": 368139.247671,
    "buyer_gdp_pc_latest": 49661,
    "buyer_population_latest": 7413.1,
    "buyer_gdp_5y_cagr_pct": 2.303516880397938,
    "buyer_gdp_pc_5y_cagr_pct": 2.259425330431597,
    "buyer_population_5y_cagr_pct": 0.04311734573498871,
    "buyer_investment_5y_avg_pct": 23.188,
    "buyer_savings_5y_avg_pct": 22.356,
    "buyer_macro_resilience_label": "Buyer macro trend resilient",
    "attention_trade_share_pct": 66.38368120564505,
    "critical_trade_share_pct": 11.776730920318588,
    "risk_driver_labels": [
      "high_volatility",
      "unrecovered_drawdown",
      "declining_buyer_demand",
      "concentrated_buyer_markets",
      "market_access_friction"
    ],
    "attention_level": "High attention",
    "primary_risk_reason": "Tariff, distance or agreement conditions create market-access friction",
    "buyer_gdp_mn_2024": 368139.247671,
    "buyer_gdp_pc_2024": 49661,
    "buyer_population_2024": 7413.1
  },
  "history": [
    {
      "year": 1995,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 426913763.0436808,
      "yoy_growth_pct": null,
      "cagr_3y_pct": null
    },
    {
      "year": 1996,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 543480319.3244963,
      "yoy_growth_pct": 27.304473730187205,
      "cagr_3y_pct": null
    },
    {
      "year": 1997,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 721306425.3257368,
      "yoy_growth_pct": 32.719879575816925,
      "cagr_3y_pct": null
    },
    {
      "year": 1998,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 523037062.420353,
      "yoy_growth_pct": -27.48753594089318,
      "cagr_3y_pct": 7.003365147071117
    },
    {
      "year": 1999,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 388331944.9529914,
      "yoy_growth_pct": -25.75441152181719,
      "cagr_3y_pct": -10.599537544175897
    },
    {
      "year": 2000,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 466686219.99684197,
      "yoy_growth_pct": 20.177138672775307,
      "cagr_3y_pct": -13.509503095933894
    },
    {
      "year": 2001,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 380450389.76326925,
      "yoy_growth_pct": -18.47833223662706,
      "cagr_3y_pct": -10.066425250901423
    },
    {
      "year": 2002,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 389143424.7604787,
      "yoy_growth_pct": 2.284932603858958,
      "cagr_3y_pct": 0.06960670595390628
    },
    {
      "year": 2003,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 383485027.38350475,
      "yoy_growth_pct": -1.4540647527211181,
      "cagr_3y_pct": -6.335616651023135
    },
    {
      "year": 2004,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 432616771.50508565,
      "yoy_growth_pct": 12.811906753388481,
      "cagr_3y_pct": 4.376270014877326
    },
    {
      "year": 2005,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 509240406.13176286,
      "yoy_growth_pct": 17.71166530601702,
      "cagr_3y_pct": 9.379949797441324
    },
    {
      "year": 2006,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 500764825.2460521,
      "yoy_growth_pct": -1.664357498669844,
      "cagr_3y_pct": 9.302090367444137
    },
    {
      "year": 2007,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 595058625.9051327,
      "yoy_growth_pct": 18.829956879009835,
      "cagr_3y_pct": 11.212123769729088
    },
    {
      "year": 2008,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 712076728.7852933,
      "yoy_growth_pct": 19.664970439201124,
      "cagr_3y_pct": 11.823902817351705
    },
    {
      "year": 2009,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 601463585.4054891,
      "yoy_growth_pct": -15.533879834620535,
      "cagr_3y_pct": 6.298019850360892
    },
    {
      "year": 2010,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 795825073.4015301,
      "yoy_growth_pct": 32.314755658068364,
      "cagr_3y_pct": 10.175734458979013
    },
    {
      "year": 2011,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 1054986766.8929255,
      "yoy_growth_pct": 32.56515811743424,
      "cagr_3y_pct": 14.000495696988047
    },
    {
      "year": 2012,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 993110972.9588674,
      "yoy_growth_pct": -5.865077731381452,
      "cagr_3y_pct": 18.194195031437022
    },
    {
      "year": 2013,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 958691311.0568337,
      "yoy_growth_pct": -3.465842472718228,
      "cagr_3y_pct": 6.402963613484891
    },
    {
      "year": 2014,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 940979130.6988562,
      "yoy_growth_pct": -1.8475373828570674,
      "cagr_3y_pct": -3.7403393067256374
    },
    {
      "year": 2015,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 753204431.0216908,
      "yoy_growth_pct": -19.95524592959962,
      "cagr_3y_pct": -8.804859816035526
    },
    {
      "year": 2016,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 841285852.411251,
      "yoy_growth_pct": 11.694225068495845,
      "cagr_3y_pct": -4.261137149627315
    },
    {
      "year": 2017,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 910083188.6810641,
      "yoy_growth_pct": 8.177640937694331,
      "cagr_3y_pct": -1.1066626027895432
    },
    {
      "year": 2018,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 842630556.0912163,
      "yoy_growth_pct": -7.4116996587535455,
      "cagr_3y_pct": 3.81053896891419
    },
    {
      "year": 2019,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 780370170.8123698,
      "yoy_growth_pct": -7.38881171929715,
      "cagr_3y_pct": -2.47431151057661
    },
    {
      "year": 2020,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 570071981.5562563,
      "yoy_growth_pct": -26.948517142472518,
      "cagr_3y_pct": -14.437617687142579
    },
    {
      "year": 2021,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 646850781.9363778,
      "yoy_growth_pct": 13.468264160347033,
      "cagr_3y_pct": -8.436517694224454
    },
    {
      "year": 2022,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 572310908.8714519,
      "yoy_growth_pct": -11.523503587919826,
      "cagr_3y_pct": -9.819953569208018
    },
    {
      "year": 2023,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 636225591.1831987,
      "yoy_growth_pct": 11.167825271368859,
      "cagr_3y_pct": 3.7274765187754744
    },
    {
      "year": 2024,
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "export_value_usd": 686460875.2138158,
      "yoy_growth_pct": 7.895828889434298,
      "cagr_3y_pct": 2.000874239561101
    }
  ],
  "riskLanes": [
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "841112",
      "hs_description": "Turbo-jets: of a thrust exceeding 25kN",
      "buyer_imports_latest_usd": 7929497484.071489,
      "current_below_peak_pct": 58.35384372163615,
      "lane_volatility_cv": 1.1335209629090623,
      "attention_level": "Critical attention",
      "primary_risk_reason": "Current trade remains more than 50% below its historical peak",
      "risk_driver_labels": [
        "high_volatility",
        "unrecovered_drawdown",
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "300490",
      "hs_description": "Medicaments: consisting of mixed or unmixed products n.e.s. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale",
      "buyer_imports_latest_usd": 1521880641.8737683,
      "current_below_peak_pct": 0,
      "lane_volatility_cv": 0.9517753102428222,
      "attention_level": "Watch",
      "primary_risk_reason": "No material risk condition is currently identified",
      "risk_driver_labels": [
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "240210",
      "hs_description": "Cigars, cheroots and cigarillos: containing tobacco including the weight of every band, wrapper or attachment thereto",
      "buyer_imports_latest_usd": 93375770.15020572,
      "current_below_peak_pct": 0,
      "lane_volatility_cv": 1.9012424623208612,
      "attention_level": "High attention",
      "primary_risk_reason": "Trade has varied substantially across reported years",
      "risk_driver_labels": [
        "high_volatility",
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "240220",
      "hs_description": "Cigarettes: containing tobacco",
      "buyer_imports_latest_usd": 268282134.60987464,
      "current_below_peak_pct": 0,
      "lane_volatility_cv": 1.9943748770078433,
      "attention_level": "High attention",
      "primary_risk_reason": "Trade has varied substantially across reported years",
      "risk_driver_labels": [
        "high_volatility",
        "declining_buyer_demand",
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "020329",
      "hs_description": "Meat: of swine, n.e.s. in item no. 0203.2, frozen",
      "buyer_imports_latest_usd": 417963395.3657076,
      "current_below_peak_pct": 31.777633817185368,
      "lane_volatility_cv": 0.8682777971374144,
      "attention_level": "High attention",
      "primary_risk_reason": "The buyer market is concentrated among relatively few suppliers",
      "risk_driver_labels": [
        "concentrated_buyer_market",
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "330499",
      "hs_description": "Cosmetic and toilet preparations: n.e.c. in heading no. 3304, for the care of the skin (excluding medicaments, including sunscreen or sun tan preparations)",
      "buyer_imports_latest_usd": 2189587188.789812,
      "current_below_peak_pct": 42.658949234333654,
      "lane_volatility_cv": 1.0211755504071074,
      "attention_level": "High attention",
      "primary_risk_reason": "Trade has varied substantially across reported years",
      "risk_driver_labels": [
        "high_volatility",
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "330300",
      "hs_description": "Perfumes and toilet waters",
      "buyer_imports_latest_usd": 374803648.26413167,
      "current_below_peak_pct": 0,
      "lane_volatility_cv": 0.8383024408065148,
      "attention_level": "Watch",
      "primary_risk_reason": "No material risk condition is currently identified",
      "risk_driver_labels": [
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "910221",
      "hs_description": "Wrist-watches: whether or not incorporating a stop-watch facility, with automatic winding",
      "buyer_imports_latest_usd": 1426999589.7858708,
      "current_below_peak_pct": 0,
      "lane_volatility_cv": 1.1086914678605495,
      "attention_level": "High attention",
      "primary_risk_reason": "Trade has varied substantially across reported years",
      "risk_driver_labels": [
        "high_volatility",
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "910121",
      "hs_description": "Wrist-watches: (not electrically operated), automatic winding, whether or not incorporating a stop-watch facility, case of precious metal or of metal clad with precious metal",
      "buyer_imports_latest_usd": 1418100501.8824594,
      "current_below_peak_pct": 43.305990842615344,
      "lane_volatility_cv": 0.9723850805993555,
      "attention_level": "Watch",
      "primary_risk_reason": "No material risk condition is currently identified",
      "risk_driver_labels": [
        "long_distance_without_fta"
      ]
    },
    {
      "exporter_iso3": "ESP",
      "importer_iso3": "HKG",
      "hs_code": "910211",
      "hs_description": "Wrist-watches: electrically operated, with or without a stop-watch, (other than those of heading no. 9101) with mechanical display only",
      "buyer_imports_latest_usd": 227293325.56257114,
      "current_below_peak_pct": 43.3920167782262,
      "lane_volatility_cv": 0.8931729330874911,
      "attention_level": "Watch",
      "primary_risk_reason": "No material risk condition is currently identified",
      "risk_driver_labels": [
        "long_distance_without_fta"
      ]
    }
  ],
  "accessProfile": {
    "year": 2024,
    "exporter_iso3": "ESP",
    "importer_iso3": "HKG",
    "distance_km": 10560,
    "shares_land_border": 0,
    "shares_official_language": 0,
    "shares_ethnic_language": 0,
    "shared_religion": 0,
    "shared_legal_system": 0,
    "shared_colonial_history": 0,
    "has_fta": 0,
    "rta_coverage_ratio": null,
    "exporter_is_wto": 1,
    "importer_is_wto": 1,
    "exporter_is_eu": 1,
    "importer_is_eu": 0,
    "importer_gdp_million_usd": 368139.247671,
    "importer_gdp_per_capita_usd": 49660.63423817296,
    "importer_population": 7413.1,
    "importer_biz_entry_days": 1.5,
    "importer_biz_entry_cost_pct": 0.5,
    "exporter_gdp_million_usd": 1425276.586283,
    "exporter_gdp_per_capita_usd": 30115.705886680804,
    "avg_applied_tariff_pct": 0,
    "avg_mfn_tariff_pct": 0,
    "avg_preferential_tariff_pct": null,
    "tariff_advantage_pp": null
  },
  "sourceAttribution": {
    "publisher": "OECD",
    "dataset": "Balanced international merchandise trade statistics (BIMTS) - HS2017-6D",
    "year": 2025,
    "citation": "OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-29)",
    "sourceUrl": "https://data-explorer.oecd.org/",
    "dataflowUrl": "https://sdmx.oecd.org/sti-public/rest/dataflow/OECD.SDD.TPS/DSD_BIMTS_6D@DF_BIMTS_HS2017_6D/1.0",
    "termsUrl": "https://www.oecd.org/termsandconditions/",
    "terms": "OECD Terms & Conditions",
    "accessed": "2026-08-29",
    "supportingSources": [
      {
        "publisher": "CEPII",
        "dataset": "BACI bilateral trade flows",
        "release": "202601",
        "citation": "Gaulier, G. and Zignago, S. (2010), BACI: International Trade Database at the Product-Level. The 1994-2007 Version, CEPII Working Paper No. 2010-23.",
        "sourceUrl": "https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html",
        "datasetUrl": "https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37",
        "licenseUrl": "https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf",
        "license": "Etalab 2.0 Open Licence",
        "accessed": "2026-08-29"
      }
    ]
  },
  "links": {
    "canonical": "https://www.yugalinks.com/trade/corridor/ESP-HKG/risk",
    "html": "https://www.yugalinks.com/trade/corridor/ESP-HKG/risk/index.html",
    "markdown": "https://www.yugalinks.com/trade/corridor/ESP-HKG/risk/index.md",
    "json": "https://www.yugalinks.com/trade/corridor/ESP-HKG/risk/index.json",
    "jsonLd": "https://www.yugalinks.com/trade/corridor/ESP-HKG/risk/index.ld.json",
    "home": "https://www.yugalinks.com/",
    "tradeHub": "https://www.yugalinks.com/trade/",
    "dataSources": "https://www.yugalinks.com/data-sources",
    "methodology": "https://www.yugalinks.com/methodology",
    "workspace": "https://www.yugalinks.com/app/corridors",
    "contact": "https://www.yugalinks.com/contact",
    "email": "mailto:support@yugalinks.com",
    "linkedin": "https://in.linkedin.com/company/yugalinks"
  }
}