Spain Trade Deficit Widens in April

Spain's trade deficit widened to €5.2 billion in April 2026 from a deficit of €3.9 billion in the period last year, as imports continue to outweigh exports. Imports increased by 8.7% to €39.6 billion, due to higher purchases of energetic products (32.2%), mainly from Kazakhstan, Nigeria, the US and Libia. Increases were seen for Nigeria (167.9%) but purchases fell from the US (-1.3%). Additionally, higher imports were recorded for automotive products (10.1%), non-chemical semi-manufactured products (7.3%), equipment goods (4.3%) and raw materials (2.7%), while a fall was seen for durable consumer goods (-4%). Meanwhile, exports increased by 5.8% to €34.4 billion, with higher shipments of energetic products (26.3%), raw materials (24.8%), chemical products (11.6%) and equipment goods (10.4%). Export growth was particularly strong to Germany (16.3%), Belgium (11%), Portugal (6.4%), France (9.9%) and the UK (2.9%).

Spain's trade gap shrank to €4.4 billion in March 2026 from €5.5 billion in the same month a year ago, reflecting improved export performance relative to imports. Exports advanced by 5.1% to €36 billion, boosted by shipments of raw materials (31.2%); manufactured consumer goods (8.3%); capital goods (5.2%); automotive products (5.4%) and food, beverages & tobacco (4.7%). Among key partners, exports increased to Italy (14.6%), Portugal (12.7%), Germany (10.2%), France (7.3%), the UK (8.3%), China (12.7%) and the US (3.4%). Meanwhile, imports rose 1.6% to €40.2 billion, as higher purchases of automotive products (8.4%), non-chemical semi-manufactures (6%), and consumer manufactures (5.7%) were offset by declines in raw materials (-12.2%) and chemical products (-7.4%). Imports rose mostly from Italy (9.2%), France (5.5%) and China (14.7%) but fell from Germany (-.5.8%) and the US (-16.6%). The country’s trade deficit fell to €11.7 billion in Q1 2026 from €15.1 billion a year ago.

Spain's trade deficit fell to €3.3 billion in February 2026, the smallest in nine months, from €3.4 billion in the same month of 2025, as exports decreased less than imports. Exports fell by 0.8% yoy to €31.7 billion, amid lower shipments of energy products (-21.8%), mainly coal and electricity (-85.7%) and gas (-32.2%); chemical products (-9.2%), particularly medicines (-20.6%); and durable consumer goods (-6.2%). Among key partners, exports fell to the US (-12.7%), the Netherlands (-15.2%), Turkey (-5.1%) and China (-13.5%), but rose to Germany (9.7%), Italy (7.9%), the UK (4.6%) and Portugal (1.7%). Meanwhile, imports dropped by 1.1% to €35 billion, largely due to reduced purchases of energy products (-17.8%); chemical products (-2%); durable consumer goods (-6.6%) and manufactured consumer goods (-4%). Imports fell mainly from the US (-19.7%), China (-5.4%), Italy (-3.4%) and Portugal (-1.8%), while rising from France (10.8%), Germany (2.9%), the UK (17.1%) and Turkey (15.4%).