Spain's trade deficit narrowed sharply to EUR 1.073 billion in December 2020 from EUR 2.279 billion in the corresponding month of the previous year. Exports went up 0.9 percent from a year earlier to EUR 22.762 billion while imports fell 3.3 percent to EUR 23.835 billion. Considering full 2020, the country’s trade gap narrowed to EUR 13.422 billion from EUR 31.544 billion, as exports tumbled 10 percent and imports declined at a faster 14.7 percent. source: Ministerio de Industria, Comercio y Turismo

Balance of Trade in Spain averaged -1800511.31 EUR Thousand from 1962 until 2020, reaching an all time high of 1481717 EUR Thousand in June of 2020 and a record low of -9834766 EUR Thousand in December of 2007. 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 - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Balance of Trade in Spain is expected to be -1800000.00 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 -1900000.00 in 12 months time. In the long-term, the Spain Balance of Trade is projected to trend around -1900000.00 EUR Thousand in 2022 and -3900000.00 EUR Thousand in 2023, according to our econometric models.

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Spain Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1073000.00 -593129.00 1481717.00 -9834766.00 1962 - 2020 EUR Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-19 09:00 AM Sep €-1.48B €-1.74B €-2.3B
2020-12-18 09:00 AM Oct €-0.65B €-1.49B €-1.8B
2021-01-21 09:00 AM Nov €-0.59B €-0.65B €-1.2B
2021-02-19 09:00 AM Dec €-1.073B €-0.59B €-1.3B
2021-03-17 09:00 AM Jan €-1.073B
2021-04-15 08:00 AM Feb
2021-05-17 08:00 AM Mar
2021-06-17 08:00 AM Apr


News Stream
Spain Trade Gap Narrows Sharply in December
Spain's trade deficit narrowed sharply to EUR 1.073 billion in December 2020 from EUR 2.279 billion in the corresponding month of the previous year. Exports went up 0.9 percent from a year earlier to EUR 22.762 billion while imports fell 3.3 percent to EUR 23.835 billion. Considering full 2020, the country’s trade gap narrowed to EUR 13.422 billion from EUR 31.544 billion, as exports tumbled 10 percent and imports declined at a faster 14.7 percent.
2021-02-19
Spain Trade Gap Shrinks 70% in November
Spain recorded a trade deficit of EUR 593,100 thousand in November of 2020, much lower than the EUR 1,948,400 thousand trade gap a year earlier. It is also the lowest trade shortfall for any November month since 1985. Exports fell 1.3 percent to EUR 24,730,700 thousand, dragged by a 1.2 percent decrease in capital goods, in which general use machinery decreased 0.5 percent, airplane exports plunged 13.6 percent, and electrical device exports fell 5 percent. On the contrary, foods, drinks, and tobacco exports rose 5.2 percent, the auto sector went up 4.3 percent, and chemical products increased 4.6 percent. Imports fell 5.9 percent to EUR 25,323,800 thousand due to a drastic cut in energy imports (-45.3 percent), a sharp drop in car components (-19.4 percent), and a decrease in textile imports (-8.1 percent).
2021-01-21
Spain Trade Gap Narrows Sharply in October
Spain's trade deficit shrank to EUR 0.65 billion in October of 2020 from EUR 2.58 billion in the same period of the previous year. Imports slipped 11.9 percent to EUR 25.93 billion, amid lower purchases of energy products (-38.3 percent); non-chemical semi-manufactured goods (-11.7 percent); food, beverages & tobacco (-12.2 percent); chemicals (-9 percent) and capital goods (-7.6 percent). Among key trade partners, imports dropped from the Euro Area (-5.6 percent), the UK (-231.3 percent), the US (-34.5 percent) and China (-9 percent). Meanwhile, exports fell at a slower 5.9 percent to EUR 25.28 billion, mostly due to lower sales of energy products (-48.2 percent); capital goods (-9 percent); chemicals (-8.5 percent) and manufactured consumer goods (-8.1 percent). Shipments went down mostly to the UK (-14.3 percent) and the US (-16.4 percent).
2020-12-18
Spain Trade Gap Narrows Sharply in September
Spain's trade deficit narrowed sharply to EUR 1.48 billion in September 2020 from EUR 4.26 billion in the same month of the previous year. Imports plunged 10.8 percent to EUR 24.74 billion due to lower purchases of energy products (-47.8 percent), non-chemical semi-manufactured goods (-15.5 percent), vehicles (-11.1 percent), food, beverages & tobacco (-9.2 percent), and equipment goods (-7.6 percent). Among key trade partners, imports dropped from the Euro Area (-7.1 percent), the UK (-29.8 percent) and the US (-13.8 percent). Exports fell at a softer 0.9 percent to EUR 23.25 billion, as sales declined for energy products (-49.2 percent), manufactured consumer goods (-3 percent), and chemicals (-2.3 percent). Shipments went down to the UK (-13.4 percent) and the US (-16.7 percent). Considering the third quarter as a whole, the country’s trade balance shifted to a EUR 3.53 billion shortfall from a EUR 0.08 billion surplus in the first three months to June 2020.
2020-11-19

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.