Spain's trade deficit narrowed sharply to EUR 1.74 billion in August 2020 from EUR 3.98 billion in the corresponding month of the previous year. Imports slumped 17.2 percent to EUR 19.40 billion, due to lower purchases of energy products (-39.8 percent), vehicles (-30.8 percent), non-chemical semi-manufactured goods (-14.3 percent), manufactured consumer goods (-9.9 percent), chemicals (-10.3 percent) and food, beverages & tobacco (-13.2 percent). Among key trade partners, imports went down from the Euro Area (-12.4 percent), the UK (-18.3 percent) and the US (-28.4 percent). Exports declined 9.1 percent to EUR 17.66 billion, as sales fell for energy products (-48.7 percent), capital goods (-12.4 percent), manufactured consumer goods (-12.7 percent), non-chemical semi-manufactured goods (-10.9 percent), chemicals (-7.6 percent) and raw materials (-13.8 percent). Shipments dropped to the Euro Area (-1.9 percent), the UK (-12.7 percent) and the US (-26.1 percent). source: Ministerio de Industria, Comercio y Turismo

Balance of Trade in Spain averaged -1805312.62 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 October of 2020.

Balance of Trade in Spain is expected to be -5700000.00 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 -4000000.00 in 12 months time. In the long-term, the Spain Balance of Trade is projected to trend around -2600000.00 EUR Thousand in 2021 and -3900000.00 EUR Thousand in 2022, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Spain Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1735800.00 -306326.00 1481717.00 -9834766.00 1962 - 2020 EUR Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-07-17 08:00 AM May €0.12B €-1.52B €-1.2B
2020-08-21 08:00 AM Jun €1.48B €1.24B € -0.6B
2020-09-21 08:00 AM Jul €-0.31B €1.48B €0.9B
2020-10-19 08:00 AM Aug €-1.74B €-0.31B €-2B
2020-11-19 09:00 AM Sep €-1.74B € -5.7B
2020-12-18 09:00 AM Oct


News Stream
Spain Trade Deficit Narrows Sharply in August
Spain's trade deficit narrowed sharply to EUR 1.74 billion in August 2020 from EUR 3.98 billion in the corresponding month of the previous year. Imports slumped 17.2 percent to EUR 19.40 billion, due to lower purchases of energy products (-39.8 percent), vehicles (-30.8 percent), non-chemical semi-manufactured goods (-14.3 percent), manufactured consumer goods (-9.9 percent), chemicals (-10.3 percent) and food, beverages & tobacco (-13.2 percent). Among key trade partners, imports went down from the Euro Area (-12.4 percent), the UK (-18.3 percent) and the US (-28.4 percent). Exports declined 9.1 percent to EUR 17.66 billion, as sales fell for energy products (-48.7 percent), capital goods (-12.4 percent), manufactured consumer goods (-12.7 percent), non-chemical semi-manufactured goods (-10.9 percent), chemicals (-7.6 percent) and raw materials (-13.8 percent). Shipments dropped to the Euro Area (-1.9 percent), the UK (-12.7 percent) and the US (-26.1 percent).
2020-10-19
Spain Trade Gap Narrows Sharply in July
Spain's trade deficit narrowed sharply to EUR 0.31 billion in July 2020 from EUR 2.49 billion in the same month last year. Exports fell 7.5 percent as sales were mostly down for energy products (-49.7 percent), capital goods (-9.0 percent), manufactured consumer goods (-12.8 percent), raw materials (-25.2 percent) and chemicals (-3.9 percent). Imports dropped at a faster 14.7 percent as purchases declined for energy products (-41.1 percent), vehicles (-22.2 percent), non-chemical semi-manufactured goods (-23.8 percent), manufactured consumer goods (-13.3 percent), chemicals (-9.2 percent) and food, beverages & tobacco (-11.8 percent).
2020-09-21
Spain Posts 2nd Consecutive Trade Surplus in 7 Years
Spain posted a trade surplus of EUR 1.48 billion in June of 2020 compared with a deficit of EUR 1.53 billion in the same month last year. It was the second consecutive monthly trade surplus since March of 2013, as the global pandemic continued to weigh on global demand. Imports tumbled 20.1 percent to EUR 21.16 billion, amid reduced purchases of energy products, autos and capital goods. Among key trade partners, imports dropped from the Euro Area (-16.8 percent), the UK (-20.2 percent) and the US (-14.2 percent), but were up from China (8.5 percent). Meantime, exports fell at a softer 9.2 percent to EUR 22.64 billion, led by lower sales of autos, capital goods, energy products and non-chemical semi-manufactured products. Shipments were down to the Euro Area (-3.4 percent), the UK (-20.1 percent) and Morocco (-13 percent), but rose to the US (4.8 percent) and China (22.9 percent).
2020-08-21
Spain Posts 1st Trade Surplus in 7 Years
Spain posted a trade surplus of EUR 0.12 billion in May 2020, the first since a record EUR 0.63 billion reported in March 2013 and compared with a deficit of EUR 2.11 billion in the same month last year, as the coronavirus crisis hit global demand. Imports tumbled 39.6 percent, the largest decline on record, due to lowers purchases of energy products, autos and capital goods. Among key trade partners, imports dropped from the Euro Area (-40.3 percent), the UK (-42.9 percent) and the US (-36.5 percent), but were up from China (8.8 percent). Meanwhile, exports fell 34.4 percent led by lower sales of autos, capital goods, energy products and consumer manufactured goods. Exports declined to the Euro Area (-30.8 percent), the UK (-33.3 percent), the US (-32.2 percent) and Morocco (-52.3 percent), but increased to China (1.9 percent).
2020-07-17

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.