Spain's trade deficit widened sharply to EUR 1.60 billion from EUR 0.31 billion in the corresponding month of the previous year. It was the largest monthly trade shortfall since January, as imports jumped 18.9% year-on-year to EUR 28.2 billion, boosted by purchases of energy products (85.1%); chemical products (32.9%); food, beverages & tobacco (16.5%) and capital goods (0.5%). Among major trade partners, imports increased from Italy (25%), Germany (6.3%, France (5.5%), the US (22.5%) and China (0.6%). Meanwhile, exports rose at a slower 13.6% to EUR 26.6 billion, driven by sales of chemical products (19.2%); non-chemical semi-manufactured goods (37.7%); capital goods (2.6%) and food, beverages & tobacco (9.4%). Exports were up mostly from Italy (36.9%), France (12.3%), the UK (19.8%)a and the US (14.1%), but fell from Germany (-5.6%) and China (-12.1%). source: Ministerio de Industria, Comercio y Turismo
Balance of Trade in Spain averaged -1792548.24 EUR Thousand from 1962 until 2021, reaching an all time high of 1481717 EUR Thousand in June of 2020 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 September of 2021.
Balance of Trade in Spain is expected to be -1000000.00 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 -400000.00 EUR Thousand in 2022 and -2900000.00 EUR Thousand in 2023, according to our econometric models.