The Spanish trade deficit narrowed to EUR 3.06 billion in August 2018 from EUR 3.23 billion in the same month of the previous year. Exports rose 7.7 percent year-on-year to EUR 20.7 billion while imports increased at a softer 5.8 percent to EUR 23.8 billion. Balance of Trade in Spain averaged -1772593.07 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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Spain Trade Deficit Narrows in August


The Spanish trade deficit narrowed to EUR 3.06 billion in August 2018 from EUR 3.23 billion in the same month of the previous year. Exports rose 7.7 percent year-on-year to EUR 20.7 billion while imports increased at a softer 5.8 percent to EUR 23.8 billion.

Exports grew 7.7 percent year-on-year to EUR 20.71 billion in August 2018 from EUR 19.24 billion a year earlier, mostly due to higher sales of energy products (32.0 percent); non-chemical semi-manufactured products (22.2 percent); other goods (20.2 percent); chemicals (7.0 percent); food, beverages and tobacco (6.9 percent); vehicle parts & accessories (6.0 percent) and consumption goods (4.8 percent). On the other hand, exports dropped for equipment goods (-3.9 percent); raw materials (-3.1 percent).

Among major trade partners, exports advanced mainly from Italy (24.6 percent), the UK (15.1 percent), Portugal (14.2 percent), France (6.4 percent) and the US (1.8 percent).

Imports went up 5.8 percent to EUR 23.77 billion from EUR 22.46 in the same month a year ago, driven by purchases of energy products (44.6 percent); chemicals (11.8 percent); non-chemical semi-manufactured products (9.6 percent); other goods (12.2 percent) and consumption goods (3.2 percent). Meanwhile, purchases fell for equipment goods (-7.4 percent); vehicles (-6.9 percent); raw materials (-5.5 percent) and food , beverages and tobacco (-4.3 percent).

Among major trade partners, imports rose mostly from Italy (19.9 percent), the UK (16.2 percent), Portugal (5.3 percent), China (4.1 percent) and France (1.8 percent).

Considering the January to July period of 2018, the trade deficit decreased by 27.3 percent from the prior year to EUR 20.89 billion, as imports advanced 6.1 percent to EUR 210.88 billion and exports increased 4.2 percent to EUR 189.99 billion.


Mineco | Stefanie Moya | stefanie.moya@tradingeconomics.com
10/23/2018 8:49:53 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-08-23 09:15 AM Balance of Trade €-2.45B €-2.15B € -1.4B
2018-09-21 08:30 AM Balance of Trade €-3.25B €-2.45B €-2.1B
2018-10-23 08:00 AM Balance of Trade €-3.06B €-3.25B €-3.6B
2018-11-21 09:00 AM Balance of Trade €-3.06B € -2.4B
2018-12-21 09:00 AM Balance of Trade €-2.8B


Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -3057300.00 -3247700.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 20714800.00 24354883.87 26225818.43 14286.06 EUR Thousand [+]
Imports 23772100.00 27602500.00 27684374.00 37437.07 EUR Thousand [+]
Current Account 1830.00 110.00 5059.00 -12368.00 EUR Million [+]
Current Account to GDP 1.90 1.90 1.90 -9.60 percent [+]
Terms of Trade 99.60 100.50 123.70 62.20 Index Points [+]
Foreign Direct Investment 388.00 3789.00 23250.00 -9566.00 EUR Million [+]
Capital Flows 2880.00 4963.00 17904.00 -11878.00 EUR Million [+]
Remittances 3347.00 3503.00 3590.00 732.00 EUR Million [+]
Tourist Arrivals 8924.33 10201.46 10493.44 1397.41 Thousand [+]
Gold Reserves 281.60 281.60 523.47 281.58 Tonnes [+]
Tourism Revenues 8032.00 7682.00 8032.00 890.00 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 1991484000.00 1977387000.00 1991484000.00 618600000.00 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3057300.00 -3247700.00 634935.00 -9834766.00 1962 - 2018 EUR Thousand Monthly




Country Last
Argentina 314.00 Sep/18
Australia 3017.00 Sep/18
Brazil 6121.36 Oct/18
Canada -416.30 Sep/18
China 340.16 Oct/18
Euro Area 13141.70 Sep/18
France -5663.00 Sep/18
Germany 18395.00 Sep/18
India -17130.00 Oct/18
Indonesia -1819.90 Oct/18
Italy 2564.00 Aug/18
Japan 139.56 Sep/18
Mexico -194.00 Sep/18
Netherlands 4949.00 Sep/18
Russia 18485.00 Sep/18
Saudi Arabia 162782.00 Jun/18
Singapore 3685.26 Sep/18
South Africa -2950.00 Sep/18
South Korea 6552.00 Oct/18
Spain -3057300.00 Aug/18
Switzerland 1447.00 Sep/18
Turkey -1869.47 Sep/18
United Kingdom -27.00 Sep/18
United States -54019.00 Sep/18


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