Spain Trade Gap Narrows in July


The Spanish trade deficit narrowed to EUR 2.49 billion in July 2019 from EUR 3.25 billion in the same month of the previous year, as exports rose 3.8 percent and imports increased at a softer 0.6 percent.

Exports went up 3.8 percent over a year earlier to EUR 25.29 billion in July, driven by higher sales of food, beverages and tobacco (10.5 percent); chemicals (8.7 percent); equipment goods (5.8 percent); manufactured consumption goods (10.3 percent); and the automotive sector (5.7 percent). Meanwhile, sales dropped for energy products (-10.2 percent); non-chemicals semi-manufactures (-2.7 percent); raw materials (-23.1 percent); and other products (-17.3 percent).

Among major trading partners, sales rose to the Euro Area (4.4 percent), of which France (7.7 percent), Germany (6.9 percent), Portugal (5.4 percent) and Italy (2.9 percent); and the US (0.4 percent). In contrasts, sales fell to China (-3.8 percent).

Imports advanced 0.6 percent year-on-year to EUR 27.77 billion, boosted by higher purchases of chemical products (10.4 percent); manufactured consumption goods (9.1 percent); food, beverages and tobacco (3.9 percent); and equipment goods (2 percent). On the other hands, purchases fell for energy products (-14.1 percent); raw materials (-19 percent); and non-chemicals semi-manufactures (-1 percent).

Among major trading partners, purchases increased from  China (14.4 percent), but went down to the Euro Area (-1 percent), in particular Germany (-2.2 percent) and France (-8 percent); and the US (-1.4 percent).

Considering the first seven months of the year, the country's trade shortfall decreased to EUR 17.20 billion from EUR 17.83 billion in the corresponding period of 2018, as exports advanced 2 percent to EUR 172.70 billion and imports rose 1.5 percent to EUR 189.89 billion.

Spain Trade Gap Narrows in July


Ministerio de Industria, Comercio y Turismo | Stefanie Moya | stefanie.moya@tradingeconomics.com
9/23/2019 8:46:24 AM