Spain Balance of Trade  1962-2017 | Data | Chart | Calendar | Forecast

Spain's trade deficit shortened to EUR 2.15 billion in September of 2017 from EUR 2.23 billion in the corresponding month of the previous year. Exports jumped 8.5 percent year-on-year to EUR 23.26 billion and imports advanced at a slower 7.4 percent to EUR 25.41 billion. Considering the January to September period, the trade gap widened 40.3 percent to EUR 18.56 billion, as imports grew faster than exports. Balance of Trade in Spain averaged -1763191.20 EUR Thousand from 1962 until 2017, 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 Gap Narrows 3.7% YoY In September


Spain's trade deficit shortened to EUR 2.15 billion in September of 2017 from EUR 2.23 billion in the corresponding month of the previous year. Exports jumped 8.5 percent year-on-year to EUR 23.26 billion and imports advanced at a slower 7.4 percent to EUR 25.41 billion. Considering the January to September period, the trade gap widened 40.3 percent to EUR 18.56 billion, as imports grew faster than exports.

Exports jumped 8.5 percent year-on-year to a record high for a September month of EUR 23.26 billion, boosted by sales of equipment goods (20.7 percent); food, beverages and tobacco (2.2 percent); chemicals (4.2 percent) and manufactured consumer goods (5.1 percent). Meanwhile, declines were seen in sales of vehicles (-1.6 percent) and other products (-22.5 percent). Exports to the EU, which accounted for 67 percent of total sales, grew 7.5 percent year-on-year: sales to the euro zone rose 9.5 percent and those to the rest of the European Union increased 0.3 percent. Among major trading partners, exports went up to Germany (21.2 percent);  France (3.7 percent); Italy (4.2 percent); Portugal (8.6 percent) and to the United Kingdom by only 0.7 percent. Outside the EU, exports rose 10.6 percent, with main increases recorded to Morocco (39.6 percent); the US (12.3 percent); Mexico (18 percent) and China (15.8 percent).

Imports advanced at a slower 7.4 percent to EUR 25.41 billion in September of 2017, mainly driven by purchases of equipment goods (7.1 percent); chemicals (4.9 percent); consumer goods (2.9 percent) and vehicles (1 percent). Imports from the EU, which accounted for 55 percent of total purchases, rose a meager 0.5 percent: imports from the euro zone went up 2.4 percent while the ones from the rest of the European Union fell 6.7 percent. Among biggest import partners, purchases advanced from Germany (1 percent); France (3.7 percent) and Italy (11 percent). Outside the EU, purchases increased 17.1 percent, namely those from China (9.5 percent); the US (32.9 percent) and Nigeria (195.3 percent).

Spain recorded a EUR 1.62 billion trade surplus with the EU, higher than a EUR 0.60 billion trade surplus in the same month of 2016. With non-EU countries, the trade deficit widened 32.9 percent year-on-year to EUR 3.76 billion.

Mineco | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
11/21/2017 12:00:00 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-09-22 08:00 AM Balance of Trade €-2.1B €-1.3B €-0.6B
2017-10-20 08:00 AM Balance of Trade €-3.2B €-2.1B €-3.0B
2017-11-21 09:00 AM Balance of Trade €-2.1B €-3.2B €-2.8B
2017-12-22 09:00 AM Balance of Trade €-2.1B


Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -2147708.00 -3226685.00 634935.00 -9834766.00 EUR Thousand [+]
Exports 23258000.00 19237660.91 26225818.43 14286.06 EUR Thousand [+]
Imports -25405000.00 -22464346.00 26017059.86 -27684374.00 EUR Thousand [+]
Current Account 2618.00 2977.00 4378.00 -12368.00 EUR Million [+]
Current Account to GDP 2.20 1.40 2.20 -9.60 percent [+]
Terms of Trade 101.30 105.40 123.70 62.20 Index Points [+]
Foreign Direct Investment 1218.00 1197.00 23250.00 -9566.00 EUR Million [+]
Capital Flows 7387.00 7921.00 15514.00 -10432.00 EUR Million [+]
Remittances 3195.00 2794.00 3488.00 732.00 EUR Million [+]
Tourist Arrivals 8835.23 10426.03 10510.53 1397.41 Thousand [+]
Gold Reserves 281.58 281.58 523.47 281.58 Tonnes [+]
Tourism Revenues 7777.00 7807.00 7807.00 890.00 EUR Million [+]
Terrorism Index 1.70 1.20 6.52 1.20 [+]
Weapons Sales 483.00 1151.00 1429.00 2.00 USD Million [+]
External Debt 1924551000.00 1910722000.00 1924551000.00 601897024.00 EUR Thousand [+]
Crude Oil Production 3.00 3.00 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. Spain also imports food and chemicals. Spain main exports are: equipment goods (20 percent of total exports); autos (18 percent); food, beverages and tobacco (17 percent) and chemicals (14 percent). The European Union accounts for 60 percent of Spain’s foreign trade. Main trading partners are France (15 percent of total exports and 11 percent of total imports) and Germany (11 percent of exports and 14 percent of imports). Others include: Italy, Portugal, United Kingdom, United States and China. . 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 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-2147708.00 -3226685.00 634935.00 -9834766.00 1962 - 2017 EUR Thousand Monthly




balance of trade by Country
Country Last
Australia 1745.00 Sep/17
Brazil 5201.00 Oct/17
Canada -3179.70 Sep/17
China 381.74 Oct/17
Euro Area 26364.90 Sep/17
France -4669.00 Sep/17
Germany 24100.00 Sep/17
India -14018.80 Oct/17
Indonesia 895.00 Oct/17
Italy 3989.78 Sep/17
Japan 285.36 Oct/17
Mexico -1886.40 Sep/17
Netherlands 6258.00 Sep/17
Russia 10222.00 Sep/17
South Korea 7300.00 Oct/17
Spain -2147708.00 Oct/17
Switzerland 2333.39 Oct/17
Turkey -8134.57 Sep/17
United Kingdom -2754.00 Sep/17
United States -43495.00 Sep/17