# Spain to China, Hong Kong SAR HS 470321 new corridor signal

This page reviews a reported new-corridor signal for wood pulp: chemical wood pulp, soda or sulphate, (other than dissolving grades), semi-bleached or bleached, of coniferous wood. It separates reported trade observations from calculated indicators and access context.

## Signal summary

- Signal type: New corridor
- Signal strength: 100/100
- Reported period: 2024
- Buyer market imports: $185.0M
- Buyer market growth: +15.5%
- Current exporter share: 0.7%
- Share gap: 29.4%

## What the signal means

The signal points to a newly observed exporter-to-buyer relationship in the available reporting. It is a prompt for market research, not a forecast, order, or guarantee of commercial access. Compare demand, suppliers, access, and route history together before acting.

## Market opportunity

- Latest buyer imports: $185.0M
- Three-year buyer-import projection: $235.4M
- Supplier countries observed: 10
- Average buyer imports: $37.0M
- Historical buyer-import peak: $185.0M
- Full-history buyer-import CAGR: +8.4%
- Latest buyer-import annual change: +15.5%

## Competition landscape

- Top supplier: USA, Puerto Rico and US Virgin Islands
- Top supplier share: 30.1%
- Market concentration: 2,041
- Exporter share: 0.7%
- Share gap to peer benchmark: 29.4%

## Access profile

- Applied tariff: 0.0%
- MFN tariff: 0.0%
- Preferential tariff: 0.0%
- Approximate distance: 10,551 km
- Trade agreement: Not reported
- Business entry time: 1.5 days
- Shared spoken language score: 0.1

## Buyer economy

- GDP per person: $49.7K
- GDP per-person growth: +4.8%
- Population: 7,413k
- GDP: $368.1B
- GDP five-year CAGR: +2.3%
- Investment rate: 23.0%
- Savings rate: 22.2%

## Product-level history

| Year | Product exports | Year-on-year |
| ---: | ---: | ---: |
| 2024 | $1.3M | +0.0% |

## Broader route context

Broader Spain to China, Hong Kong SAR route exports provide route context only; they are not presented as HS 470321 product-level trade.

| Year | Route exports | Year-on-year |
| ---: | ---: | ---: |
| 1995 | $426.9M | +0.0% |
| 1996 | $543.5M | +27.3% |
| 1997 | $721.3M | +32.7% |
| 1998 | $523.0M | -27.5% |
| 1999 | $388.3M | -25.8% |
| 2000 | $466.7M | +20.2% |
| 2001 | $380.5M | -18.5% |
| 2002 | $389.1M | +2.3% |
| 2003 | $383.5M | -1.5% |
| 2004 | $432.6M | +12.8% |
| 2005 | $509.2M | +17.7% |
| 2006 | $500.8M | -1.7% |
| 2007 | $595.1M | +18.8% |
| 2008 | $712.1M | +19.7% |
| 2009 | $601.5M | -15.5% |
| 2010 | $795.8M | +32.3% |
| 2011 | $1.1B | +32.6% |
| 2012 | $993.1M | -5.9% |
| 2013 | $958.7M | -3.5% |
| 2014 | $941.0M | -1.8% |
| 2015 | $753.2M | -20.0% |
| 2016 | $841.3M | +11.7% |
| 2017 | $910.1M | +8.2% |
| 2018 | $842.6M | -7.4% |
| 2019 | $780.4M | -7.4% |
| 2020 | $570.1M | -26.9% |
| 2021 | $646.9M | +13.5% |
| 2022 | $572.3M | -11.5% |
| 2023 | $636.2M | +11.2% |
| 2024 | $686.5M | +7.9% |

## Related new-corridor signals

| Exporter to buyer | Product | Signal type | Buyer imports | Page |
| --- | --- | --- | ---: | --- |
| Spain to Former Republic of Vietnam | HS 270112 | New corridor | $4.2B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/esp-vnm-270112) |
| Spain to Canada | HS 711291 | New corridor | $4.0B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/esp-can-711291) |
| Spain to Norway | HS 750110 | New corridor | $1.8B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/esp-nor-750110) |
| Spain to CHN | HS 750210 | New corridor | $1.6B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/esp-chn-750210) |
| Spain to Kazakhstan | HS 880240 | New corridor | $1.5B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/esp-kaz-880240) |
| Spain to CHN | HS 271320 | New corridor | $1.1B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/esp-chn-271320) |
| Spain to France | HS 300214 | New corridor | $830.7M | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/esp-fra-300214) |
| Spain to Japan | HS 440712 | New corridor | $721.2M | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/esp-jpn-440712) |

## Frequently asked questions

### What does a new corridor signal mean?

It identifies an exporter, buyer market, and HS6 combination included in the available new-corridor signal set for 2024. It is a research prompt, not a guarantee of demand or sales.

### Is the market opportunity reported trade?

Reported buyer imports and exporter share are observations. Any projection or share-gap measure is calculated from the available data and should not be treated as an order or forecast.

### What should exporters check next?

Validate product fit, buyers, tariffs, standards, logistics, pricing, competition, and the depth of product-level history before pursuing the route.

## Method

The signal is a calculated research indicator based on available reported trade observations. It is not a confirmed order, sales forecast, or guarantee of market entry. Validate buyers, tariffs, standards, logistics, pricing, and competition before acting.

## Data sources

- Primary trade series: OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-09-02). [OECD Data Explorer](https://data-explorer.oecd.org/) - [OECD Terms & Conditions](https://www.oecd.org/termsandconditions/)
- CEPII BACI bilateral trade flows (202601): [dataset page](https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37) - [BACI documentation](https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html) - [Etalab 2.0 Open Licence](https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf)

This page presents derived Yugalinks views of reported observations and calculated indicators.