Spain's trade deficit shrank to EUR 1.520 billion in April of 2020 from EUR 1.605 billion in the same month of the previous year. It was the smallest monthly trade gap since June of 2017. Exports sank 39.3% to EUR 15.04 billion, due to sharp declines in sales of vehicles (-84.2%); equipment goods (-46%); energy products (-65.3%), especially oil & related (-65.9%) and consumption manufactures (-63.2%), such as textiles (-70.5%) and footwear (-65.2%). Among major trading partners, shipments fell to France (-40.2%), Germany (-40.1%), Italy (-43.4%), Portugal (-41.7%), the UK (-46%) and the US (-36.3%), but those to China grew (19.2%). Meanwhile, imports fell at a slower 37.2% to EUR 16.56 billion, mainly dragged down by vehicles (-83.6%); equipment goods (-40.4%) and energy products (-52.7%), primarily oil & related (-56.4%). Purchases decreased mostly from Germany (-48.2%), France (-48.4%), Italy (-45.3%), Portugal (-37%), the UK (-36.4%), China (-4.1%) and the US (-7.8%).
Balance of Trade in Spain averaged -1814908.64 EUR Thousand from 1962 until 2020, 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. 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 July of 2020. source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain is expected to be -1700000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Spain to stand at 17591600.00 in 12 months time. In the long-term, the Spain Balance of Trade is projected to trend around -1900000.00 EUR Thousand in 2021, according to our econometric models.