Spain Trade Gap Narrows in May


The Spanish trade deficit narrowed to EUR 2.11 billion in May 2019 from EUR 2.15 billion in the same month of the previous year, as exports rose 5.5 percent and imports increased at a softer 4.9 percent.

Exports went up 5.5 percent year-on-year to EUR 26.69 billion in May, mainly driven by higher sales of energy products (14.7 percent); equipment goods (13.4 percent); manufactured consumption goods (13.2 percent); food, beverages and tobacco (3.6 percent); chemicals (3.6 percent); and non-chemicals semi-manufactures (3.4 percent). Meanwhile, sales fell for raw materials (-0.4 percent) and for the automotive sector (-0.4 percent). 

Among major trading partners, sales rose to the Euro Area (5.5 percent), of which Germany (11.4 percent), France (3.8 percent), Portugal (4.3 percent), and Italy (1.8 percent). Shipments also went up to the US (13.7 percent) and China (8.6 percent).

Imports advanced 4.9 percent from a year earlier to EUR 28.80 billion, boosted by higher purchases of energy products (17.5 percent); chemical products (10.3 percent); equipment goods (7.4 percent); manufactured consumption goods (7.7 percent); and non-chemicals semi-manufactures (3.1 percent). On the other hand, purchases declined for the automotive sector (-4.3 percent); food, beverages and tobacco (-2.7 percent); and raw materials (-18.9 percent). 

Among major trading partners, purchases increased from Germany (0.3 percent), Italy (2.9 percent), the US (42.4 percent) and China (15.6 percent), while fell from France (-8.6 percent), Portugal (-1.3 percent), and the UK (-1.3 percent).

Considering the first five months of the year, the country's trade gap widened to EUR 13.18 billion from EUR 12.14 billion in the corresponding period of 2018, as imports rose 2.5 percent to EUR 135.65 billion and exports advanced 1.9 EUR 122.47 billion.

Spain Trade Gap Narrows in May


Ministerio de Industria, Comercio y Turismo | Stefanie Moya | stefanie.moya@tradingeconomics.com
7/23/2019 8:31:12 AM