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

The Spanish trade deficit widened sharply to EUR 2.45 billion in June 2018 from EUR 1.26 billion in the same month a year earlier. Exports increased 3.1 percent to EUR 24.72 billion and imports jumped 7.7 percent to EUR 27.17 billion. Balance of Trade in Spain averaged -1770417.40 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 Widens in June


The Spanish trade deficit widened sharply to EUR 2.45 billion in June 2018 from EUR 1.26 billion in the same month a year earlier.

Exports increased 3.1 percent to EUR 24.72 billion in June from EUR 23.98 billion a year earlier, boosted by sales of energy products (17.3 percent), mainly oil & by-products (20.8 percent); chemicals (6.4 percent), in particular organic chemicals (25.7 percent) and essential oils & perfumes (10.5 percent); non-chemical semi-manufactured products (7.3 percent), in particular iron & steel (10.8 percent), paper (9.8 percent) and non-ferrous metals (5.5 percent); and capital goods (2.1 percent), of which electrical machinery (5.3 percent), transport equipment (6.3 percent) and equipment for the industry (3.2 percent). By contrast, there was a decline in exports of food, beverages and tobacco (-1.5 percent) and consumption goods (-1.3 percent). 

Among major trade partners, exports rose to Portugal (2.7 percent), Germany (10.7 percent), France (1.5 percent), Italy (3.6 percent), the UK (1.2 percent), the US (25.7 percent), Algeria (32 percent) and Morocco (3.8 percent); but fell to the UAE (-4.5 percent), Malaysia (-15 percent) and Canada (-14.3 percent).

Imports rose at a faster 7.7 percent to EUR 27.17 billion in June from EUR 25.24 billion in the previous year, mainly due to purchases of energy products (20.9 percent), in particular oil & by-products (28.1 percent); vehicles (7.7 percent), of which parts & accessories (8.4 percent) and cars & motorcycles (7 percent); capital goods (5.2 percent), mainly electrical machinery (21.8 percent), equipment for the industry (10.1 percent) and office & telecommunication equipment (5.3 percent); and chemical products (4.4 percent), in particular medicines (6.5 percent). Imports of consumption goods, however, dropped 4 percent mainly due to a 5.6 percent decline in purchases of textiles.

Among major trade partners, imports grew from Germany (6.2 percent), France (10.2 percent), Portugal (14 percent), the UK (1.4 percent), China (3.1 percent), Saudi Arabia (83.1 percent), Iran (96.4 percent), Turkey (6 percent), Morocco (9.9 percent), Mexico (40.3 percent), Chile (116.4 percent); but dropped from the US (-11.5 percent), Italy (-1.5 percent) and India (-6.1 percent).

In the first half of the year, the trade gap widened 31.5 percent from the previous year to EUR 14.59 billion, as imports jumped 5 percent to EUR 159.50 billion and exports increased 2.9 percent to EUR 144.92 billion.


Ministerio de Industria, Comercio y Turismo | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/23/2018 12:02:27 PM


Recent Releases

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Published on 2018-07-20

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The Spanish trade deficit widened by 154.4 percent to EUR 3.1 billion in April of 2018 from EUR 1.2 billion in the corresponding month of the previous year, as imports rose the most in 13 months and exports advanced 9.5 percent.
Published on 2018-06-25

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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.
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The Spanish trade deficit narrowed 16.8 percent to EUR 2.17 billion in February 2018 from EUR 2.61 billion in the same month a year earlier.
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Calendar GMT Actual Previous Consensus TEForecast
2018-06-25 07:45 AM Balance of Trade €-3.1B €-0.83B €-1.4B
2018-07-20 08:30 AM Balance of Trade €-2.15B €-3.1B €-1.7B
2018-08-23 09:15 AM Balance of Trade €-2.45B €-2.15B € -1.4B
2018-09-21 08:00 AM Balance of Trade €-2.45B €-2.1B
2018-10-23 08:00 AM Balance of Trade €-3.6B
2018-11-21 09:00 AM Balance of Trade € -2.4B


Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -2448240.00 -2153628.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 24724040.73 25309319.61 26225818.43 14286.06 EUR Thousand [+]
Imports 27172281.00 27462948.00 27684374.00 37437.07 EUR Thousand [+]
Current Account 490.00 2440.00 4378.00 -12368.00 EUR Million [+]
Current Account to GDP 1.90 1.90 1.90 -9.60 percent [+]
Terms of Trade 101.40 102.80 123.70 62.20 Index Points [+]
Foreign Direct Investment 17079.00 1434.00 23250.00 -9566.00 EUR Million [+]
Capital Flows 5767.00 -1476.00 15514.00 -10432.00 EUR Million [+]
Remittances 3308.00 3333.00 3488.00 732.00 EUR Million [+]
Tourist Arrivals 9979.78 8541.18 10510.53 1397.41 Thousand [+]
Gold Reserves 281.60 281.60 523.47 281.58 Tonnes [+]
Tourism Revenues 5328.00 3850.00 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 1957442000.00 1918114000.00 1957442000.00 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 September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-2448240.00 -2153628.00 634935.00 -9834766.00 1962 - 2018 EUR Thousand Monthly




balance of trade by Country
Country Last
Argentina -789.00 Jul/18
Australia 1551.00 Jul/18
Brazil 3774.99 Aug/18
Canada -114.30 Jul/18
China 279.10 Aug/18
Euro Area 17555.60 Jul/18
France -3490.00 Jul/18
Germany 16461.00 Jul/18
India -17390.00 Aug/18
Indonesia -1021.40 Aug/18
Italy 5676.00 Jul/18
Japan -444.59 Aug/18
Mexico -2889.20 Jul/18
Netherlands 4612.00 Jul/18
Russia 13402.00 Jul/18
Saudi Arabia 120299.00 Mar/18
Singapore 6755.10 Aug/18
South Africa -4657.00 Jul/18
South Korea 6900.00 Aug/18
Spain -2448240.00 Jun/18
Switzerland 1154.26 Jul/18
Turkey -5980.00 Jul/18
United Kingdom -111.00 Jul/18
United States -50082.00 Jul/18


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