Spain Balance of Trade  1962-2018 | Data | Chart | Calendar | Forecast

The Spanish trade deficit narrowed 43.1 percent to EUR 0.83 billion in March of 2018 from EUR 1.46 million in the same month a year earlier. It was the smallest trade gap since July of of 2016, mainly due to seasonal effects as in 2018 Holy Week was in March while in 2017 took place in April. Exports dropped 2.4 percent year-on-year and imports declined 4.5 percent. Balance of Trade in Spain averaged -1766949.75 EUR Thousand from 1962 until 2018, reaching an all time high of 634935 EUR Thousand in November of 1988 and a record low of -9834766 EUR Thousand in December of 2007.

Spain Balance of Trade
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Spanish Trade Gap Lowest in Over a Year


The Spanish trade deficit narrowed 43.1 percent to EUR 0.83 billion in March of 2018 from EUR 1.46 million in the same month a year earlier. It was the smallest trade gap since July of 2016, mainly due to seasonal effects as in 2018 Holy Week was in March while in 2017 took place in April. Exports dropped 2.4 percent year-on-year and imports declined 4.5 percent.

Exports fell 2.4 percent to EUR 25.61 billion in March of 2018 from EUR 26.23 billion in the same month a year ago. The main contributors to the decline in exports were food, beverages and tobacco (-1.1 points); chemical products (-0.9 points); capital goods (-0.8 points) and consumer goods (-0.6 percent). On the other hand, the sectors that contributed to export growth were energy (0.5 points); automobile (0.5 points) and non-chemical semi manufactures (0.3 points).

Exports to the EU increased 0.4 percent year-on-year and accounted for 67.7 percent of the total exports. Sales to the euro zone grew by 1.5 percent while to the rest of the European Union went down by 3.5 percent. Among the trading partners, exports rose to Germany (7 percent) and France (4.7 percent), but declined to the UK (-10.3 percent), Italy (-5.9 percent) and Portugal (-0.6 percent). 

Imports edged down 4.5 percent to EUR 26.44 billion in March from EUR 27.68 billion a year earlier.

Considering the first quarter of the year, the trade deficit widened 3.7 percent to EUR 6.93 billion, as imports picked up 1.3 percent to EUR 77.96 billion and exports jumped 1.8 percent to an all-time high of EUR 71.02 billion.


Mineco | Stefanie Moya | stefanie.moya@tradingeconomics.com
5/22/2018 9:13:56 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-03-21 09:15 AM Balance of Trade €-3.94B €-2.05B €-2.8B
2018-04-20 08:00 AM Balance of Trade €-2.17B €-3.94B €-3.2B
2018-05-22 08:00 AM Balance of Trade €-0.83B €-2.17B €-1.6B
2018-06-21 08:00 AM Balance of Trade €-0.83B €-1.4B
2018-07-20 08:00 AM Balance of Trade €-1.7B
2018-08-23 08:00 AM Balance of Trade € -1.4B


Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -830631.00 -2167323.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 25605526.83 22589523.72 26225818.43 14286.06 EUR Thousand [+]
Imports 26436200.00 24757000.00 27684374.00 37437.07 EUR Thousand [+]
Current Account 904.00 -450.00 4378.00 -12368.00 EUR Million [+]
Current Account to GDP 1.90 1.90 1.90 -9.60 percent [+]
Terms of Trade 103.20 103.30 123.70 62.20 Index Points [+]
Foreign Direct Investment 10809.00 -1705.00 23250.00 -9566.00 EUR Million [+]
Capital Flows -1307.00 -588.00 15514.00 -10432.00 EUR Million [+]
Remittances 3083.00 2529.00 3488.00 732.00 EUR Million [+]
Tourist Arrivals 6770.85 5383.69 10510.53 1397.41 Thousand [+]
Gold Reserves 281.60 281.60 523.47 281.58 Tonnes [+]
Tourism Revenues 4076.00 3209.00 7794.00 890.00 EUR Million [+]
Terrorism Index 1.70 1.20 6.52 1.20 [+]
Weapons Sales 814.00 507.00 1429.00 2.00 USD Million [+]
External Debt 1918114000.00 1912296000.00 1924551000.00 601897024.00 EUR Thousand [+]
Crude Oil Production 2.00 2.00 17.00 1.00 BBL/D/1K [+]

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. In 2017, Spain's trade deficit rose 31.9 percent from the previous year to EUR 25 billion, mainly due to a surge in domestic demand and an increase in energy prices. Within the Autonomous Communities, the biggest exporters were Catalonia (26 percent of total exports), Andalusia, Madrid and Valencia (11 percent each) and the Basque Country (9 percent); while the largest importers were Catalonia (28 percent of total imports), Madrid (20 percent) Andalusia (10 percent) and Valencia (9 percent). The trade surplus with the EU widened to EUR 16 billion from EUR 13 billion in 2016, boosted by an increase in both surpluses with the Eurozone (EUR 9 billion vs EUR 7 billion in 2016) and with the non-euro area countries of the EU (EUR 7 billion vs EUR 6 billion). With regard to non-EU countries, the trade deficit increased to EUR 41 billion from EUR 32 billion in the previous year, as the deficit with Asia rose to EUR 35 billion from EUR 29 billion and that with Africa went up to EUR 6 billion from EUR 4 billion. Also, the gap with Latin America grew to EUR 2 billion from EUR 60 million in 2016, while that with North America was almost unchanged at EUR 1 billion. 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 June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-830631.00 -2167323.00 634935.00 -9834766.00 1962 - 2018 EUR Thousand Monthly




balance of trade by Country
Country Last
Australia 977.00 Apr/18
Brazil 5981.00 May/18
Canada -1902.20 Apr/18
China 249.22 May/18
Euro Area 16704.70 Apr/18
France -4954.00 Apr/18
Germany 20413.00 Apr/18
India -14620.00 May/18
Indonesia -1629.30 Apr/18
Italy 2937.96 Apr/18
Japan -578.32 May/18
Mexico -289.15 Apr/18
Netherlands 3841.00 Apr/18
Russia 15316.00 Apr/18
South Korea 6732.00 May/18
Spain -830631.00 Mar/18
Switzerland 2798.79 Apr/18
Turkey -6690.00 Apr/18
United Kingdom -5280.00 Apr/18
United States -46199.00 Apr/18


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