The Spanish trade deficit widened to EUR 4.48 billion in January 2019 from EUR 3.94 billion in the corresponding month of the previous year. It was the largest trade shortfall for a January month since 2011, as imports rose 0.9 percent year-on-year while exports fell 1.3 percent. Balance of Trade in Spain averaged -1786979.57 EUR Thousand from 1962 until 2019, 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.

Balance of Trade in Spain is expected to be -1400000.00 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 -1800000.00 in 12 months time. In the long-term, the Spain Balance of Trade is projected to trend around -1900000.00 EUR Thousand in 2020, according to our econometric models.

Spain Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-21 09:00 AM Balance of Trade €-3.84B €-3.30B €-2.8B
2019-01-22 09:00 AM Balance of Trade €-2.57B €-3.84B €-3.0B
2019-02-21 10:00 AM Balance of Trade €-3.25B €-2.57B €-2.1B
2019-03-21 09:30 AM Balance of Trade €-4.48B €-3.25B €-3.2B
2019-04-24 08:00 AM Balance of Trade €-4.48B €-1.8B
2019-05-21 08:00 AM Balance of Trade €-1.4B
2019-06-21 08:00 AM Balance of Trade €-2.6B



Spain Trade Gap Widens in January as Exports Fall

The Spanish trade deficit widened to EUR 4.48 billion in January 2019 from EUR 3.94 billion in the corresponding month of the previous year. It was the largest trade shortfall for a January month since 2011, as imports rose 0.9 percent year-on-year while exports fell 1.3 percent.

Imports went up 0.9 percent from a year earlier to EU 27.01 billion in January, mostly boosted by higher purchases of capital goods (13.5 percent); food, beverages and tobacco (3.7 percent); chemicals (2.0 percent); automotive sector (1.1 percent); durable consumer goods (4.0 percent); non-chemicals semi-manufactures (1.3 percent) and consumption manufactures (1.0 percent). On the other hand, imports declined for energy products (-13.2 percent); capital goods (-12.6 percent); and other products (-34.6 percent)

Among major trading partners, imports increased from China (10.7 percent) and the US (24.7 percent), but decreased from the UK (-13.2 percent) and the Euro Area (-1.1 percent), namely Germany (-0.3 percent) and Italy (-6.7 percent).

Exports dropped 1.3 percent to EUR 22.53 billion in January, mainly due to lower sales of automotive sector (-4.6 percent); energy products (-22.8 percent); consumption manufactures (-15.4 percent); durable consumer goods (-0.6 percent) and other products (-14.0 percent). Meanwhile, sales rose for capital goods (8.6 percent); food, beverages and tobacco (4.6 percent); non-chemicals semi-manufactures (3.8 percent) and chemicals (1.2 percent).

Among major trading partners, sales declined to the Euro Area (-3.1 percent), of which France (-4.5 percent) and Italy (-2.7 percent) while exports to Germany advanced (1.9 percent). Sales also decreased to the UK (-0.8 percent) and China (-6.6 percent) but went up to the US (1.9 percent).


Ministerio de Industria, Comercio y Turismo | Stefanie Moya | stefanie.moya@tradingeconomics.com
3/21/2019 10:00:08 AM



Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -4483276.00 -3247399.00 634935.00 -9834766.00 EUR Thousand [+]
Current Account -1472.00 4153.00 5059.00 -12368.00 EUR Million [+]
Current Account to GDP 0.90 1.80 2.30 -9.60 percent [+]
Imports 27008620.00 24414100.00 30249900.00 37437.07 EUR Thousand [+]
Exports 22525343.53 21166697.93 26413344.61 14286.06 EUR Thousand [+]
Terms of Trade 102.00 99.30 123.70 62.20 Index Points [+]
Foreign Direct Investment 4912.00 -3768.00 23250.00 -9894.00 EUR Million [+]
Capital Flows -5287.00 13770.00 17904.00 -11878.00 EUR Million [+]
Remittances 3315.00 2613.00 3590.00 732.00 EUR Million [+]
Tourist Arrivals 4380.13 4196.94 10493.44 1397.41 Thousand [+]
Gold Reserves 281.60 281.60 523.47 281.58 Tonnes [+]
Tourism Revenues 3785.00 3403.00 8015.00 890.00 EUR Million [+]
Terrorism Index 4.02 1.70 6.52 1.20 [+]
Weapons Sales 814.00 507.00 1429.00 2.00 USD Million [+]
External Debt 2014359000.00 2003697000.00 2014359000.00 618600000.00 EUR Thousand [+]
Crude Oil Production 1.00 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-4483276.00 -3247399.00 634935.00 -9834766.00 1962 - 2019 EUR Thousand Monthly




Country Last Previous
Argentina 460.00 Feb/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -2894.80 Feb/19
China 326.47 Mar/19
Euro Area 17938.00 Feb/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -10890.00 Mar/19
Indonesia 540.20 Mar/19
Italy 3267.83 Feb/19
Japan 528.50 Mar/19
Mexico 1222.00 Feb/19
Netherlands 5130.00 Feb/19
Russia 15671.00 Feb/19
Saudi Arabia 180059.00 Dec/18
Singapore 3615.50 Mar/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -4483276.00 Jan/19
Switzerland 2494.00 Mar/19
Turkey -2134.33 Feb/19
United Kingdom -4860.00 Feb/19
United States -49382.00 Feb/19


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