Spain's trade deficit fell to €3.3 billion in February 2026, the smallest in nine months, from €3.4 billion in the same month of 2025, as exports decreased less than imports. Exports fell by 0.8% yoy to €31.7 billion, amid lower shipments of energy products (-21.8%), mainly coal and electricity (-85.7%) and gas (-32.2%); chemical products (-9.2%), particularly medicines (-20.6%); and durable consumer goods (-6.2%). Among key partners, exports fell to the US (-12.7%), the Netherlands (-15.2%), Turkey (-5.1%) and China (-13.5%), but rose to Germany (9.7%), Italy (7.9%), the UK (4.6%) and Portugal (1.7%). Meanwhile, imports dropped by 1.1% to €35 billion, largely due to reduced purchases of energy products (-17.8%); chemical products (-2%); durable consumer goods (-6.6%) and manufactured consumer goods (-4%). Imports fell mainly from the US (-19.7%), China (-5.4%), Italy (-3.4%) and Portugal (-1.8%), while rising from France (10.8%), Germany (2.9%), the UK (17.1%) and Turkey (15.4%). source: Ministerio de Industria, Comercio y Turismo

Spain recorded a trade deficit of 3295500 EUR Thousand in February of 2026. Balance of Trade in Spain averaged -1967466.21 EUR Thousand from 1962 until 2026, reaching an all time high of 1481717.00 EUR Thousand in June of 2020 and a record low of -9834766.00 EUR Thousand in December of 2007. This page provides the latest reported value for - Spain Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on April of 2026.

Spain recorded a trade deficit of 3295500 EUR Thousand in February of 2026. Balance of Trade in Spain is expected to be -3999000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Balance of Trade is projected to trend around -5571000.00 EUR Thousand in 2027 and -5771000.00 EUR Thousand in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-23 09:00 AM
Balance of Trade
Jan €-4B €-5.57B €-6.4B
2026-04-21 08:00 AM
Balance of Trade
Feb €-3.3B €-4B €-2.8B
2026-05-19 08:00 AM
Balance of Trade
Mar €-3.3B € -6B


Related Last Previous Unit Reference
Balance of Trade -3295500.00 -4010000.00 EUR Thousand Feb 2026
Capital Flows 6320.00 17674.00 EUR Million Jan 2026
Current Account 2730.00 2809.00 EUR Million Jan 2026
Current Account to GDP 2.90 3.20 percent of GDP Dec 2025
Exports 31719600.00 28927000.00 EUR Thousand Feb 2026
Exports by Category
Exports by Country
External Debt 2758457.00 2693942.00 EUR Million Dec 2025
External Debt to GDP 163.00 162.00 percent of GDP Dec 2025
Foreign Direct Investment -166.00 -11939.00 EUR Million Jan 2026
Gold Reserves 281.58 281.58 Tonnes Dec 2025
Imports 35015200.00 32937000.00 EUR Thousand Feb 2026
Imports by Category
Imports by Country
Natural Gas Imports 112871.74 123530.18 Terajoule Feb 2026
Remittances 4207.00 3788.00 EUR Million Dec 2025
Terms of Trade 99.50 100.50 points Feb 2026
Terrorism Index 0.79 1.26 Points Dec 2025
Tourism Revenues 6016.00 6533.00 EUR Million Jan 2026
Tourist Arrivals YoY 5569.04 5127.26 Thousand Feb 2026
Weapons Sales 639.00 921.00 SIPRI TIV Million Dec 2024


Spain Balance of Trade
Spain runs systemic trade deficits due to high imports of fuel and high added value goods. Spain’s main exporting sectors are chemicals, capital goods, food, beverages & tobacco, vehicles, and non-chemical semi-manufactures. The largest export partners are the European Union (63 percent of total exports), in particular France (15 percent) and Germany (10 percent), the rest of Europe (11 percent), in particular the United Kingdom (6 percent), the United States (5 percent), Morocco (3 percent) and China (2 percent). The largest shares by sector of Spain’s imports are those of energy products, capital goods, chemicals, food, beverages and tobacco, and consumer manufactured goods. Spain's major import partner is the EU (45 percent of total imports), in particular Germany and France (9 percent each), followed by China (11 percent), the US (7 percent), the UK (3 percent), and Turkey, Brazil and Morocco (2 percent each).
Actual Previous Highest Lowest Dates Unit Frequency
-3295500.00 -4010000.00 1481717.00 -9834766.00 1962 - 2026 EUR Thousand Monthly

News Stream
Spain Trade Gap at 9-Month Low
Spain's trade deficit fell to €3.3 billion in February 2026, the smallest in nine months, from €3.4 billion in the same month of 2025, as exports decreased less than imports. Exports fell by 0.8% yoy to €31.7 billion, amid lower shipments of energy products (-21.8%), mainly coal and electricity (-85.7%) and gas (-32.2%); chemical products (-9.2%), particularly medicines (-20.6%); and durable consumer goods (-6.2%). Among key partners, exports fell to the US (-12.7%), the Netherlands (-15.2%), Turkey (-5.1%) and China (-13.5%), but rose to Germany (9.7%), Italy (7.9%), the UK (4.6%) and Portugal (1.7%). Meanwhile, imports dropped by 1.1% to €35 billion, largely due to reduced purchases of energy products (-17.8%); chemical products (-2%); durable consumer goods (-6.6%) and manufactured consumer goods (-4%). Imports fell mainly from the US (-19.7%), China (-5.4%), Italy (-3.4%) and Portugal (-1.8%), while rising from France (10.8%), Germany (2.9%), the UK (17.1%) and Turkey (15.4%).
2026-04-21
Spain Posts Smallest Trade Gap in 6 Months
Spain recorded a trade deficit of €4 billion in January 2026, the smallest since July last year, down from €6.2 billion a year ago. Imports slipped 8.4% to a five-month low of €32.9 billion, largely driven by a 33.2% drop in energy purchases, including gas (-3.9%) and oil and petroleum products (-32%). Declines were also seen for chemical products (-9.4%); consumer goods (-10.3%); non-chemical semi-manufactured goods (-8.8%); raw materials (-15.3%) and food, beverages & tobacco (-8.8%). Among key partners, imports fell from the US (-22.8%), the UK (-15.8%), Germany (-1.8%) and France (-1.2%) but rose from China (0.9%). Meanwhile, exports fell 2.9% to a five-month low of €28.9 billion, mainly on account of chemical products (-10.3%); food, beverages & tobacco (-7.3%), notably oils & fats (-21.1%) and meat (-10%) and non-chemical semi-manufactured goods (-6.8%), primarily iron and steel (-22%). Among key partners, exports declined mostly to the US (-11.4%) and China (-7.8%).
2026-03-23
Spain Trade Gap Rises in December
Spain's trade deficit rose to €5.57 billion in December 2025 from €4.12 billion in the same month of 2024. Imports climbed 5.5% yoy to €35.7 billion, largely on purchases of non-chemical semi-manufactured goods (26%), automotive (12.1%) and capital goods (4.8%). Meanwhile, exports rose 1.4% to €30.2 billion, with robust shipments of raw materials (31.1%), consumer manufactured goods (5.4%) and food, beverages & tobacco (5.1%) offset by declines in energy (-12.5%) and chemical products (-7.6%). The country posted a trade shortfall of €57.1 billion in 2025, marking a 47.1% increase from €40.3 billion a year earlier, as imports climbed 4.6% to €444.2 billion while exports rose only 0.7% to €387.1 billion. A key feature of the year was the diversification of export markets. Exports to Africa, Asia, and other EU countries increased by 6%, 3%, and 5%, respectively, while shipments to the US dropped 8%. The EU-27 accounted for 62% of exports, generating a trade surplus of €19.762 billion.
2026-02-19