Spains joining the European Community (EC) inspired, at the time, the elaboration of numerous works with the aim of calibrating its effects on domestic trade. In these pages the focus is inverted and, using the gravity equation, the Spanish and Portuguese contribution to Community trade is illustrated. Particularly, it is shown that Iberian integration was essential for the European Union (EU) to maintain its character as an area of trade creation in the mid-nineties. Furthermore, in agreement with the existing literature, the modelling of the bilateral trade of Spain with the rest of the world confirms that the creation effect is brought about through imports. Lastly, a negative effect of the difference in income per capita is verified, which is coherent with the approximation of Spanish specialisation to the export pattern of developed countries.

Key words: gravity equation, integration, trade creation effect.
JEL classification: F13, F15.