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.

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Spain Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1520000.00 -2036319.00 634935.00 -9834766.00 1962 - 2020 EUR Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-03-20 09:00 AM Jan €-3.51B €-2.09B
2020-04-21 08:00 AM Feb €-2.12B €-3.51B €-2.2B
2020-05-19 08:00 AM Mar €-2.04B €-2.12B € -1.5B
2020-06-18 08:00 AM Apr €-1.52B €-2.04B €-1.8B
2020-07-17 08:00 AM May €-1.52B €-1.2B
2020-08-21 08:00 AM Jun € -0.6B
2020-09-21 08:00 AM Jul
2020-10-19 08:00 AM Aug


News Stream
Spain Posts Smallest Trade Gap since 2017
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%).
2020-06-18
Spain Posts Smallest Trade Gap in 4 Months
Spain's trade deficit decreased to EUR 2.036 billion in March of 2020 from EUR 2.353 billion in the same month of the previous year. This was the smallest monthly trade gap since last November. Imports slipped 14.4% to EUR 23.81 billion, mainly dragged down by lower purchases of equipment goods (-11.4%); energetic products (-27.8%) and vehicles (-28.5%). Among major trading partners, imports decreased from Germany (-16.2%), France (-12.7%), Italy (-20.3%) and China (-21%), but those from the US rose (6.8%). Exports fell 14.5% to EUR 21.77 billion, primarily due to reduced shipments of equipment goods (-18.1%); vehicles (-33.7%); energetic products (-45.3%) and consumption manufactures (-31%). Exports declined mostly to France (-18.9%), Germany (-17.8%), Italy (-23.7%), Portugal (-12.7%), the US (-8.5%) and China (-0.8%).
2020-05-19
Spain Trade Gap Narrows in February
Spain’s trade deficit narrowed to EUR 2.117 billion in February 2020 from EUR 2.628 billion in the same month of the previous year. Exports rose 4.2 percent to EUR 23.99 billion, boosted by higher sales of food, beverages & tobacco (8.5 percent); energetic products (9 percent); vehicles (8.2 percent); and consumption goods (1.8 percent). Among major trading partners, shipments went up to Germany (6.9 percent), Italy (7.4 percent), France (0.7 percent), the US (14.3 percent), and China (29.9 percent). Imports increased 1.8 percent to EUR 26.11 billion, driven by purchases of food, beverages & tobacco (1.1 percent); equipment goods (7.4 percent); vehicles (3.4 percent); and consumption manufactures (2.9 percent). Imports advanced mainly from Germany (6.4 percent), France (4.4 percent), the US (34.4 percent) and China (-2.2 percent).
2020-04-21
Spain Trade Deficit Narrows in January
Spain’s trade deficit narrowed to EUR 3.509 billion in January 2020 from EUR 4.483 billion in the corresponding month of the previous year. Exports went up 2.7 percent to EUR 23.14 billion, driven by higher sales of energetic products (34.9 percent); food, beverages & tobacco (7.9 percent); consumption goods (7.7 percent) and chemicals (0.5 percent). Among major trading partners, shipments advanced to France (9.6 percent), Italy (5.6 percent), Portugal (2.1 percent) and the US (5.6 percent). Imports fell 1.3 percent to EUR 26.65 billion, mostly due to lower purchases of equipment goods (-5.3 percent); raw materials (-23.6 percent); vehicles (-4.6 percent); and non-chemicals semi manufactures (-5.1 percent). Imports increased mainly from Germany (-8.6 percent), France (-6.1 percent) and China (-2.2 percent).
2020-03-20

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.