Spain Balance of Trade  1962-2017 | Data | Chart | Calendar | Forecast

Spain's trade deficit increased to EUR 2.10 billion in July of 2017 from EUR 0.56 billion in the corresponding month a year earlier. Exports increased 3.9 percent year-on-year to EUR 22.19 billion while imports rose at a faster 10.8 percent to EUR 24.29 billion. Considering the January to July period, the trade deficit jumped 56.3 percent to EUR 13.19 billion, as imports grew quicker than exports. Balance of Trade in Spain averaged -1774930.10 EUR Thousand from 1962 until 2017, reaching an all time high of 634935 EUR Thousand in March of 2013 and a record low of -9834766 EUR Thousand in December of 2007.

Spain Balance of Trade
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Spain Trade Gap Widens Sharply in July


Spain's trade deficit increased to EUR 2.10 billion in July of 2017 from EUR 0.56 billion in the corresponding month a year earlier. Exports increased 3.9 percent year-on-year to EUR 22.19 billion while imports rose at a faster 10.8 percent to EUR 24.29 billion. Considering the January to July period, the trade deficit jumped 56.3 percent to EUR 13.19 billion, as imports grew quicker than exports.

Exports rose 3.9 percent to a record high of EUR 22.19 billion in July of 2017. The main contributions to export growth came from non-chemical semi-manufactures (1.4 points); consumer goods (1.1 points); chemicals (1 point) and energy products (0.8 points). The only sectors with a significant negative impact were the vehicles (-1 points); other goods (-0.4 points) and raw materials (-0.3 points). Exports to the EU, which accounted for 63.5 percent of total sales, rose 1 percent year-on-year, as sales to the euro zone increased 3.7 percent while those to the rest of the European Union fell 8.1 percent. Among major trading partners, sales grew to France (6.2 percent); Germany (4.3 percent); Italy (1.7 percent) and Portugal (4.1 percent), but declined to the United Kingdom (-20.2 percent). Outside the EU, increases in exports were recorded to Argentina (57.5 percent); Saudi Arabia (25.9 percent); Morocco (19.5 percent); the United States (14.2 percent); Chile (10.1 percent); China (8.8 percent) and Mexico (4.6 percent). In contrast, sales went down to Canada (-28.6 percent) and Australia (-9 percent).

Imports advanced at a faster 10.8 percent to EUR 24.29 billion in July of 2017 from EUR 21.93 billion a year ago. The main contributions to import growth came from: energy products (2.8 points); food, beverages and tobacco (1.7 points); vehicles (1.6 points) and non-chemical semi-manufactures (1.3 points). On the other hand, the only sector with a significant negative impact was other goods (-0.3 points). Imports from the EU, which accounted for 54.2 percent of total purchases, rose 5.8 percent, as imports from the euro zone grew 6.9 percent while the ones from the rest of the European Union advanced 1.1 percent. Among biggest trading partners, purchases increased mostly from China (16.5 percent); France (10.6 percent ); Germany (8.6 percent) and Nigeria (107 percent). Conversely, imports fell from Portugal (-8.6 percent) and Russia (-24.6 percent).

Spain recorded a EUR 0.94 billion trade surplus with the EUR, lower than a EUR 1.53 billion trade surplus a year earlier. With non-EU countries, the trade deficit widened 45.8 percent year-on-year to EUR 3.04 billion.

Mineco |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/22/2017 12:57:17 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-07-21 08:00 AM Balance of Trade €-1.4B €-1.2B €-1B
2017-08-22 08:00 AM Balance of Trade €-1.3B €-1.4B €-2.1B €-1.8B
2017-09-22 08:00 AM Balance of Trade €-2.1B €-1.3B €-0.6B
2017-10-20 08:00 AM Balance of Trade €-2.1B €-3.0B
2017-11-21 09:00 AM Balance of Trade
2017-12-22 09:00 AM Balance of Trade


Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -2099000.00 -1259000.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 22189000.00 23978600.00 26225818.43 14286.06 EUR Thousand [+]
Imports 24287800.00 25238000.00 27684000.00 37437.07 EUR Thousand [+]
Current Account 2977.00 2177.00 4378.00 -12368.00 EUR Million [+]
Current Account to GDP 2.20 1.40 2.20 -9.60 percent [+]
Terms of Trade 105.40 103.00 123.70 62.20 Index Points [+]
Foreign Direct Investment 1197.00 1732.00 23250.00 -9566.00 EUR Million [+]
Capital Flows 7921.00 1898.00 15514.00 -10432.00 EUR Million [+]
Remittances 3195.00 2794.00 3488.00 732.00 EUR Million [+]
Tourist Arrivals 10426.03 10510.53 10510.53 1397.41 Thousand [+]
Gold Reserves 281.58 281.58 523.47 281.58 Tonnes [+]
External Debt 1924551000.00 1910722000.00 1924551000.00 601897024.00 EUR Thousand [+]
Crude Oil Production 3.00 3.00 17.00 1.00 BBL/D/1K [+]
Tourism Revenues 7807.00 6247.00 7807.00 890.00 EUR Million [+]
Terrorism Index 1.20 2.62 6.52 1.20 [+]
Weapons Sales 483.00 1151.00 1429.00 2.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Spain Balance of Trade

Spain runs systemic trade deficits due to high imports of fuel and high added value goods. Spain also imports food and chemicals. Spain main exports are: equipment goods (20 percent of total exports); autos (18 percent); food, beverages and tobacco (17 percent) and chemicals (14 percent). The European Union accounts for 60 percent of Spain’s foreign trade. Main trading partners are France (15 percent of total exports and 11 percent of total imports) and Germany (11 percent of exports and 14 percent of imports). Others include: Italy, Portugal, United Kingdom, United States and China. . 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 - actual data, historical chart and calendar of releases - was last updated on October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-2099000.00 -1259000.00 634935.00 -9834766.00 1962 - 2017 EUR Thousand Monthly




balance of trade by Country

Last
Australia 989.00 Aug/17
Brazil 5178.00 Sep/17
Canada -3413.40 Aug/17
China 284.67 Sep/17
Euro Area 16086.90 Aug/17
France -4514.00 Aug/17
Germany 20000.00 Aug/17
India -8984.29 Sep/17
Indonesia 1760.00 Sep/17
Italy 2769.02 Aug/17
Japan 670.17 Sep/17
Mexico -2732.00 Aug/17
Netherlands 4073.00 Aug/17
Russia 6612.00 Aug/17
South Korea 13800.00 Sep/17
Spain -2099000.00 Jul/17
Switzerland 2917.62 Sep/17
Turkey -5873.11 Aug/17
United Kingdom -5626.00 Aug/17
United States -42395.00 Aug/17