The Spanish trade deficit narrowed sharply to EUR 1.61 billion in April of 2019 from EUR 3.01 billion in the corresponding month of the previous year, as exports advanced 3.8 percent and imports slumped 2 percent. Balance of Trade in Spain averaged -1788759.70 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 -1500000.00 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 -1500000.00 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
2019-03-21 09:30 AM Balance of Trade Jan €-4.48B €-3.25B €-3.2B
2019-04-24 08:30 AM Balance of Trade Feb €-2.63B €-4.48B €-1.8B
2019-05-21 08:30 AM Balance of Trade Mar €-2.35B €-2.63B €-1.4B
2019-06-21 08:30 AM Balance of Trade Apr €-1.61B €-2.35B €-2.6B
2019-07-23 08:00 AM Balance of Trade May €-1.61B €-2.7B
2019-08-21 08:00 AM Balance of Trade Jun € -1.5B
2019-09-23 08:00 AM Balance of Trade Jul €-2.9B



Spain Trade Gap Shrinks Sharply in April

The Spanish trade deficit narrowed sharply to EUR 1.61 billion in April of 2019 from EUR 3.01 billion in the corresponding month of the previous year, as exports advanced 3.8 percent and imports slumped 2 percent.

Exports climbed 3.8 percent year-on-year to EUR 24.76 billion in April, boosted by higher sales of equipment goods (8.2 percent); food, beverages and tobacco (4.6 percent); chemicals (2.7 percent); non-chemicals semi-manufactures (2.1 percent); manufactured goods (4.3 percent) and energy products (16.9 percent); while shipments fell for the automotive sector (-5.6 percent).

Among major trading partners, sales advanced to the Euro Area (4.9 percent), namely to Germany (4.9 percent), France (7 percent), Italy (4 percent) and Portugal (9 percent). Shipments also increased to the UK (6.7 percent), the US (15.7 percent) and China (15.6 percent).

Imports dropped 2 percent from a year earlier to EUR 26.37 billion, dragged by purchases of the automotive sector (-1.9 percent); energy products (-19.4 percent); food, beverages and tobacco (-4.7 percent); non-chemicals semi-manufactures (-2 percent) and raw materials (-23.4 percent). On the other hand, imports rose for equipment goods (5 percent); chemical products (5.9 percent) and manufactured goods (7.7 percent).

Among major trading partners, purchases went down from the Euro Area (-2.8 percent), of which Germany (-0.3 percent), France (-4.9 percent), Italy (-0.4 percent) and Portugal (-6.8 percent), from the US (-9.3 percent) and the UK (-6.9 percent) but increased from China (26.2 percent). 


Ministerio de Industria, Comercio y Turismo | Agna Gabriel | agna.gabriel@tradingeconomics.com
6/21/2019 9:21:57 AM



Spain Trade Last Previous Highest Lowest Unit
Balance of Trade -1605300.00 -2352600.00 634935.00 -9834766.00 EUR Thousand [+]
Current Account -413.00 -107.00 5059.00 -12368.00 EUR Million [+]
Current Account to GDP 0.90 1.80 2.30 -9.60 percent [+]
Imports 26369800.00 27821800.00 30249900.00 37437.07 EUR Thousand [+]
Exports 24764584.76 25469200.00 26413344.61 14286.06 EUR Thousand [+]
Terms of Trade 99.70 100.30 123.70 62.20 Index Points [+]
Foreign Direct Investment 1091.00 1093.00 23250.00 -9566.00 EUR Million [+]
Capital Flows 3933.00 5417.00 17904.00 -11878.00 EUR Million [+]
Remittances 3475.00 3333.00 3590.00 732.00 EUR Million [+]
Tourist Arrivals 7952.79 7169.68 10493.44 1397.41 Thousand [+]
Gold Reserves 281.60 281.60 523.47 281.58 Tonnes [+]
Tourism Revenues 4185.00 4230.00 8015.00 890.00 EUR Million [+]
Terrorism Index 4.02 1.70 6.52 1.20 [+]
Weapons Sales 1188.00 820.00 1429.00 1.00 USD Million [+]
External Debt 2057984000.00 2014359000.00 2057984000.00 618600000.00 EUR Thousand [+]
Crude Oil Production 1.00 1.00 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1605300.00 -2352600.00 634935.00 -9834766.00 1962 - 2019 EUR Thousand Monthly




Country Last Previous
Argentina 1373.00 May/19
Australia 5745.00 May/19
Brazil 5020.00 Jun/19
Canada 762.30 May/19
China 509.76 Jun/19
Euro Area 23033.60 May/19
France -3278.00 May/19
Germany 20600.00 May/19
India -15280.00 Jun/19
Indonesia 196.00 Jun/19
Italy 5347.00 May/19
Japan 589.46 Jun/19
Mexico 1030.71 May/19
Netherlands 5579.00 May/19
Russia 11823.00 May/19
Saudi Arabia 131636.00 Mar/19
Singapore 2447.29 Jun/19
South Africa 1737.21 May/19
South Korea 4168.00 Jun/19
Spain -1605300.00 Apr/19
Switzerland 3251.00 Jun/19
Turkey -1837.83 May/19
United Kingdom -2324.00 May/19
United States -55520.00 May/19


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